Global Ferrite Magnet Market – Industry Trends and Forecast to 2030

Ferrite Magnet Market Analysis and Size

The essential factors contributing to the growth of the global ferrite magnet market in the forecast period of 2023 to 2030 include expanding adoption of ferrite magnets in the automotive industry for braking and locking systems. Also, increasing utilization of magnets in electro-acoustic products is significantly contributing to the market’s growth.

Data Bridge Market Research analyses that the global ferrite magnet market which was USD 7.48 billion in 2022, is expected to reach USD 8.50 billion by 2030, growing at a CAGR of 1.6% during the forecast period of 2023 to 2030. “Soft ferrites magnets” segment dominates the market due to its wide range of applications, including the utilization of magnets in electro-acoustic products, such as speakers and microphones. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Ferrite Magnet Market Scope and Segmentation

Market Definition

Ferrite magnets are also known as ceramic ferrite, ceramic, feroba, and hard ferrite magnets. These magnets are the type of permanent magnets, composed of Barium or Strontium Ferrite and completely suitable for higher-volume production

Global Ferrite Magnet Market Dynamics

Drivers

• Increasing  utilization of these magnets in electro-acoustic products

The increasing utilization of magnets in electro-acoustic products, such as speakers and microphones, can drive the demand for ferrite magnets in the market. These magnets offer excellent magnetic properties such as high durability, and cost-effectiveness, making them a preferred choice for manufacturers. As the demand for electro-acoustic products continues to rise, so does the demand for ferrite magnets in this sector.

• Expanding adoption of ferrite magnet in the automotive industry for braking and locking systems

The expanding adoption of ferrite magnets in the automotive industry for braking and locking systems can be a significant driver in the ferrite magnet market. With their high magnetic strength, heat resistance, and cost-effectiveness, ferrite magnets offer a reliable solution for these applications. As the automotive industry continues to grow, the demand for ferrite magnets in braking and locking systems is expected to increase, thereby driving the market further.

Opportunities

• The rising demand for ferrite magnet in hybrid electric vehicle

The rising demand for ferrite magnets in hybrid electric vehicles (HEVs) presents a significant opportunity in the ferrite magnet market. HEVs utilize electric motors that require magnets with high magnetic strength and temperature resistance. Ferrite magnets offer these characteristics along with cost-effectiveness, making them an attractive choice for HEV manufacturers. As the demand for HEVs continues to rise, the demand for ferrite magnets in this sector is expected to grow, creating opportunities for market expansion.

• The rapid development of technology

Moreover, the rapid development of technology presents a significant opportunity in the ferrite magnet market. Advancements in various industries, such as renewable energy, automotive, electronics, and telecommunications, require magnets with enhanced properties and performance. Ferrite magnets, with their excellent magnetic properties, durability, and cost-effectiveness, can cater to evolving technological needs. the demand for advanced ferrite magnets, as technology evolves, is expected to increase, creating opportunities for market growth.

Restraints/Challenges

• Fluctuation in the raw material prices and huge investments required in R&D

However, the fluctuation in the raw material prices and huge investments required in R&D are likely to act as key restraints toward the ferrite magnet market growth rate in the forecast period of 2023 to 2030, whereas the lack of quality control in developing countries can challenge the growth of the ferrite magnet market in the above-mentioned forecast period.

This ferrite magnet market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Global Ferrite Magnet market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development                 

• In March 2021, Arnold Magnetic Technologies Corporation a leading global manufacturer of high-performance magnets, magnetic assemblies, precision thin metals, and highly loaded composites announced the acquisition of Ramco Electric Motors, Inc. (“Ramco”), manufacturer of stators, rotors, and full electric motors. By acquiring Ramco, Arnold expanded its already diverse product offering with industry-leading electric motor solutions.

Global Ferrite Magnet Market Scope

The global ferrite magnet market is segmented on the basis of application, product type, and type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Soft Ferrites Magnets
• Permanent Ferrite Magnets
• Others

Product Type 

• Strontium Ferrite Magnets
• Barium Ferrite Magnets

Application 

• Electro-Acoustic Products
• Computer and Office Equipment
• Automobile
• Electronics Industry
• Power Play Tools
• Car Line Industry
• Calculating Machines
• Others

Global Ferrite Magnet Market Regional Analysis/Insights

Global ferrite magnet market is analysed and market size insights and trends are provided by country, application, type, and product type, as referenced above.

The countries covered in the global ferrite magnet market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.

Germany is expected to dominate the ferrite magnet market increasing the utilization of magnets in electro-acoustic products, such as speakers and microphones. Their excellent magnetic properties such as high durability, and cost-effectiveness also drive the market.

Asia-Pacific is expected to grow during the forecast period of 2023 to 2030 because of the expanding adoption of ferrite magnets in the automotive industry for braking and locking systems. As the automotive industry continues to grow, the demand for ferrite magnets in braking and locking systems is expected to increase, hence driving the market.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Ferrite Magnet Market Share Analysis

The ferrite magnet market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global ferrite magnet market.

Some of the major players operating in the global Ferrite Magnet market are:

• Hitachi Metals, Ltd. (Japan)
• NINGBO YUNSHENG Co., Ltd. (China)
• Hangzhou Permanent Magnet Group., Ltd. (China)
• Guangdong LingYI Co., Ltd. (China)
• TDK Corporation (Japan)
• Arnold Magnetic Technologies (U.S.)
• JFE FERRITE Co.,Ltd. (Japan)
• Daido Steel Co., Ltd. (Japan)
• Tengam (Canada)
• Shin-Etsu Chemical Co., Ltd. (Japan)
• Bunting (U.S.)
• Galaxymagnets (China)
• Electron Energy Corporation (U.S.)
• Delta Magnets (India)
• Kumar Magnet Industries (India)
• Lynas Rare Earths Ltd. (Australia)
• Ningbo Risheng Magnets Co.,Ltd. (China)
• Adams Magnetic Products Co. (U.S.)
• Eclipse Magnetics (U.K.)
• Ferroxcube (Italy)

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