The latest research study “Global Ferrite Magnet Market Research: Industry Size Analysis, Trends, Share, Opportunity and Forecast 2022-2027,
” the global ferrite magnet market reached US$ 6.4 Billion
in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.9 Billion
by 2027, exhibiting a CAGR of 3.7%
The report also includes competitor and regional analysis, and contemporary advancements in the global market.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Request for a sample copy of this report: https://www.imarcgroup.com/ferrite-magnet-powder-manufacturing-plant/requestsample
Ferrite magnets, also known as ceramic magnets, refer to a type of permanent magnets that are widely used worldwide. There are two forms of these magnets, namely, Barium and Strontium ferrite magnets. The usage of ferrite magnets has several advantages as they are hard and provide strong resistance to demagnetization. They can also tolerate exposure to high temperatures up to 250 degrees and have high resistance potential against greases, lubricants, weak acids, and solvents.
Besides this, the raw materials required in the production of ferrite magnets are relatively cheaper in comparison to other permanent magnets, including aluminum-nickel-cobalt (AlNiCo), samarium-cobalt (SmCO), and neodymium-iron-boron (NdFeB) magnets. Due to these advantages, ferrite magnets are gradually replacing their counterparts in a wide range of applications.
Key Market Segmentation:
IMARC Group 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
- United States
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.
Click here to view detailed information with table of content: https://www.imarcgroup.com/ferrite-magnet-powder-manufacturing-plant
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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St Ste R Sheridan, WY 82801 USA Email: firstname.lastname@example.org Website: https://www.imarcgroup.com Follow us on twitter: @imarcglobal