Bonded Magnet Market Is Forecast To Reach A Valuation Of US$ 10.9 Billion By 2032

The global bonded magnet market is estimated at US$ 5.1 Billion in 2022, and is forecast to reach a valuation of US$ 10.9 Billion by 2032, expanding at an impressive CAGR of 7.8% from 2022 to 2032. Worldwide sales of bonded magnets account for around 14% share of the total market valuation of the global magnet market, which is projected to increase at a CAGR of 6.9% over the forecast period of 2022-2032.

Historically, the bonded magnet industry witnessed growth at 4.2% CAGR from 2017 to 2021. The market for bonded magnets generated an absolute dollar opportunity of nearly US$ 1.3 Billion over this time period. It is expected to offer an absolute dollar opportunity of US$ 2.6 Billion and US$ 4.1 Billion in the mid-term (2022-27) and long-term (2022-2032), respectively.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7176?PJ

𝗞𝗲𝘆 𝗧𝗿𝗲𝗻𝗱𝘀 𝗮𝗻𝗱 𝗗𝗿𝗶𝘃𝗲𝗿𝘀

Several key trends and drivers are shaping the bonded magnet market:

𝗔𝘂𝘁𝗼𝗺𝗼𝘁𝗶𝘃𝗲 𝗘𝗹𝗲𝗰𝘁𝗿𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻: The shift towards electric vehicles (EVs) and hybrid vehicles has significantly increased the demand for bonded magnets in the automotive sector. These magnets are used in electric motors, sensors, and various components critical to vehicle electrification.

𝗠𝗶𝗻𝗶𝗮𝘁𝘂𝗿𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗶𝗻 𝗘𝗹𝗲𝗰𝘁𝗿𝗼𝗻𝗶𝗰𝘀: The electronics industry continues to demand smaller and more powerful components. Bonded magnets offer the advantage of precise shaping and size customization, making them ideal for miniaturized devices like smartphones, wearables, and medical devices.

𝗥𝗲𝗻𝗲𝘄𝗮𝗯𝗹𝗲 𝗘𝗻𝗲𝗿𝗴𝘆: Bonded magnets play a crucial role in the renewable energy sector, particularly in wind turbines and electric generators. As countries invest more in clean energy sources, the demand for bonded magnets used in these applications is expected to rise.

𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗺𝗲𝗻𝘁𝘀 𝗶𝗻 𝗠𝗮𝘁𝗲𝗿𝗶𝗮𝗹 𝗦𝗰𝗶𝗲𝗻𝗰𝗲: Ongoing research and development efforts have led to the creation of new magnetic materials and composites, enhancing the performance and efficiency of bonded magnets. These advancements are driving innovation in the market.

𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗖𝗼𝗻𝗰𝗲𝗿𝗻𝘀: As sustainability becomes a prominent global concern, there is a growing interest in developing environmentally friendly magnet manufacturing processes and materials. This trend is likely to shape the market's future landscape.

𝗞𝗲𝘆 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗣𝗿𝗼𝗳𝗶𝗹𝗲𝗱

TDK Corporation
Hitachi Metals, Ltd.
Ningbo Yunsheng Co. Ltd.,
Advanced Technology Materials Co. Ltd.
Magnequench International, LLC
SDM Magnetics Co., Ltd.
Ningbo Newland Magnet Industry Co., Ltd.
Arnold Magnetic Technologies,
Mate Co., Ltd.
Evitron Sp. z o.o.
MMC Magnetics Corp
RHEINMAGNET Horst Baermann GmbH.
Dura Magnetics, Inc.
Adams Magnetic Products
National Imports, LLC
Super Magnet Co., Ltd.
Galaxy Magnets
Daido Electronics Co., Ltd.
Shanghai San Huan Magnetics Co., Ltd.
MP Material

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘁𝘂𝗱𝘆

The global bonded magnet market is anticipated to add 2.1X value by 2032.

Sensors application holds nearly one-fourth of the global market share, and is set to create an absolute $ opportunity of around US$ 1.62 Bn over 2022-2032.

Among the product types, rare earth magnets is the fastest-growing segment.

The East Asia bonded magnet market dominated market revenue in 2021, where China is set to acquire more than 73% market share and generate abundant revenue over the forecast period of 2022-2032).

India and Indonesia are expected to dominate the South Asia and Oceania region with more than one-third and one-sixth market shares, respectively.

𝗥𝗲𝗰𝗲𝗻𝘁 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗡𝗲𝘄𝘀

Let's delve into some recent industry news that reflects the current developments and trends in the bonded magnet market:

1. 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 𝗶𝗻 𝗥&𝗗 𝗮𝗻𝗱 𝗠𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗖𝗮𝗽𝗮𝗰𝗶𝘁𝘆

Several companies in the bonded magnet market have announced investments in research and development as well as manufacturing capacity expansion. These investments aim to improve the quality and performance of bonded magnets while also addressing the growing demand.

2. 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽𝘀 𝗳𝗼𝗿 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗠𝗮𝗴𝗻𝗲𝘁 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻

In response to the sustainability trend, partnerships have formed between magnet manufacturers and organizations specializing in sustainable materials and processes. These collaborations aim to develop bonded magnets that are more environmentally friendly and have a reduced carbon footprint.

3. 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗗𝗶𝘃𝗲𝗿𝘀𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻

News reports highlight the diversification of bonded magnet applications. For instance, the use of bonded magnets in consumer electronics is expanding beyond smartphones to include earbuds, smartwatches, and other wearable devices. This trend showcases the adaptability and versatility of bonded magnets.

4. 𝗥𝗮𝗿𝗲 𝗘𝗮𝗿𝘁𝗵 𝗘𝗹𝗲𝗺𝗲𝗻𝘁 𝗔𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲𝘀

The bonded magnet market has been exploring alternatives to traditional rare earth elements, such as neodymium, which are facing supply chain challenges. Manufacturers are working on developing bonded magnets that rely on alternative magnetic materials to mitigate supply chain risks.

5. 𝟯𝗗 𝗣𝗿𝗶𝗻𝘁𝗶𝗻𝗴 𝗼𝗳 𝗕𝗼𝗻𝗱𝗲𝗱 𝗠𝗮𝗴𝗻𝗲𝘁𝘀

The adoption of 3D printing technology in the production of bonded magnets has gained attention in recent news. This innovative approach allows for complex geometries and customized shapes, opening up new possibilities for magnet design and application.

𝗪𝗶𝗻𝗻𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆

Market players have opted for targeted strategic collaborations, funding, and innovative product launches to increase their revenue and profits. Companies are also focusing on developing green energy technologies to create sustainable demand in the market. These developments are set to drive growth of the bonded magnet market in the mid- to long-term period.

Fact.MR has provided detailed information about price points of top manufacturers of bonded magnet positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

𝗙𝗼𝗿 𝗶𝗻𝘀𝘁𝗮𝗻𝗰𝗲:

On 2nd March 2021, Arnold Magnetic Technologies acquired Ramco Electric Motors Company. This acquisition will further advance the company's strategic priorities to deliver engineered solutions and new materials that empower customers to develop next-generation technologies.

In 2020, Ningbo Newland Magnet Industry Co. Ltd. launched a type of bonded magnet that can be used with 5G technology, which ensures that ferrite and samarium-cobalt magnets should be able to provide the performance required in 5G applications.

𝗕𝗼𝗻𝗱𝗲𝗱 𝗠𝗮𝗴𝗻𝗲𝘁 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗯𝘆 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝘀

𝗕𝘆 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗧𝘆𝗽𝗲:

Rare Earth Magnets

NdFeB

SmCo

Bonded Ferrite Magnets

Others

𝗕𝘆 𝗣𝗿𝗼𝗰𝗲𝘀𝘀 𝗧𝘆𝗽𝗲:

Injection Molded

Compression

Calendaring

Extrusion

𝗕𝘆 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻:

Sensors

Motors

Hard Disk Drives

Level Gauges

Instrument Panels

Copier Rotors

Fuel Filters

Magnetic Couplings

𝗕𝘆 𝗘𝗻𝗱 𝗨𝘀𝗲:

Automotive

HVAC Equipment

Medical Devices

Cameras

Consumer Electronic Appliances

Computers and Magnetic Storage Devices

Electrical Equipment

Measurement Instruments

Printer and Copiers

𝗕𝘆 𝗥𝗲𝗴𝗶𝗼𝗻:

North America

Latin America

Europe

East Asia

South Asia & Oceania

MEA

𝗠𝗼𝗿𝗲 𝗩𝗮𝗹𝘂𝗮𝗯𝗹𝗲 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗼𝗻 𝗢𝗳𝗳𝗲𝗿

Fact.MR, in its new offering, presents an unbiased analysis of the global bonded magnet market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market on the basis of product type (rare earth magnets (NdFeB, SmCo), ferrite, others), process type (injection molded bonded magnets, compression bonded magnets, calendaring bonded magnets, extrusion bonded magnets), application (sensors, motors, hard disk drives, level gauges, instrument panels, copier rotors, fuel filters, magnetic couplings), and end use (automotive, HVAC equipment, medical devices, cameras, consumer electronic appliances, computers & magnetic storage devices, electrical equipment, measurement instruments, printers and copiers), across key regions, namely, (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7176?PJ

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This release was published on openPR.