Ferrite Magnet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Ferrite Magnet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • July 2022 •
  • 122 pages •
  • Report ID: 4837061 •
  • Format: PDF
The global ferrite magnet market reached a value of US$ 6.4 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 7.9 Billion by 2027, exhibiting a CAGR of 3.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Ferrite magnets, also known as ceramic magnets, are a type of permanent magnets widely used in a variety of applications. These magnets are darker grey in color and have higher intrinsic coercivity and electrical insulation ability. The primary raw materials used to manufacture ferrite magnets are strontium carbonate and iron oxide, which are abundantly and economically available and relatively inexpensive compared to most other types of permanent magnets. They are also hard, brittle, have lower magnetic energy and the highest output in the entire magnet industry, owing to which they are widely used in industrial applications. In recent years, ferrite magnets have gained traction as they are excellent for use in damp, wet or marine environments and exhibit high resistance to demagnetization and corrosion.

Ferrite Magnet Market Trends:
The global ferrite magnet market is primarily driven by their extensive applications in various industries. In the consumer electronics sector, ferrite magnets are utilized in numerous electrical appliances, such as electric fans, vacuum cleaners, refrigerators, and microwave ovens. Furthermore, with the onset of the coronavirus disease (COVID-19) pandemic, there has been an increasing demand for ferrite magnets as they find applications in different medical devices and ventilators due to their cost-effectiveness and long-term performance. The emerging automobile industry has also increased the use of ferrite magnets in the braking and locking systems for the improved and efficient functioning of automobiles. Moreover, several leading manufacturers are involved in research and development (R&D) activities to provide high-quality permanent magnets, like ferrite magnets, at a very competitive price.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global ferrite magnet market, along with forecasts at the global and country level from 2022-2027. Our report has categorized the market based on application.

Breakup by Application:
Electro-Acoustic Products
Power Play Tools
Electronics Industry
Calculating Machines
Car Line Industry
Others

Regional Insights:
China
India
Japan
United States
Others

On a geographical front, China is both the largest consumer and producer of ferrite magnets. The availability of low-cost labor and abundance of raw materials has made China a preferred destination among magnet manufacturers.

Competitive Landscape:
The competitive landscape of the market has also been analyzed, with some of the leading players being Hangzhou Permanent Magnet Group, Hitachi Metals L, Ningbo Yunsheng Co. Ltd., JPMF Guangdong Co. Ltd. and NingGang Permanent Magnet Materials Co. Ltd.

Key Questions Answered in This Report?
What are the key success and risk factors in the ferrite magnets industry?
How has the global permanent magnet market performed so far and how will it perform in the coming years?
How has the global ferrite magnet market performed so far and how will it perform in the coming years?
What are the key regional markets?
What is the breakup of the market based on the application?
What has been the impact of COVID-19 on the global ferrite magnet industry?
What is the structure of the global ferrite magnet industry and who are the key players?
What are the various unit operations involved in a ferrite magnet manufacturing plant?
What is the total size of land required for setting up a ferrite magnet manufacturing plant?
What are the machinery requirements for setting up a ferrite magnet manufacturing plant?
What are the raw material requirements and composition for setting up a ferrite magnet manufacturing plant?
What are the utility requirements for setting up a ferrite magnet manufacturing plant?
What are the manpower requirements for setting up a ferrite magnet manufacturing plant?
What are the infrastructure costs for setting up a ferrite magnet manufacturing plant?
What are the capital costs for setting up a ferrite magnet manufacturing plant?
What are the operating costs for setting up a ferrite magnet manufacturing plant?
What will be the income and expenditures for a ferrite magnet manufacturing plant?
What is the time required to break-even?