Hard Ferrite Magnets Market: Emerging Technology, Investor Analysis, and Worldwide Forecast Until 2031 | Arnold Magnetic Technologies Corporation, Dailymag, ESSEN Magnets.

Hard Ferrite Magnets Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Hard Ferrite Magnets market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Hard Ferrite Magnets market from 2024 to 2031, and what is the market value expected to change by 2031?

Global Hard Ferrite Magnets Market reached US$ 2.9 billion in 2023 and is expected to reach US$ 3.7 billion by 2031, growing with a CAGR of 3.3% during the forecast period 2024-2031.

What is Hard Ferrite Magnets Market?

The hard ferrite magnets market involves the production and application of permanent magnets made from ceramic materials, primarily used in industries such as automotive, electronics, appliances, and renewable energy. Known for their durability, cost-effectiveness, and high resistance to demagnetization, hard ferrite magnets are popular in applications requiring strong magnetic fields. The market is growing due to increasing demand in electric vehicles, electronic devices, and industrial machinery. Additionally, their widespread use in motors, loudspeakers, and magnetic separators, along with advancements in magnet manufacturing technologies, further supports market expansion as industries seek reliable and economical magnetic solutions.

Growth Driver

Sustainable Technology Practices

The increasing emphasis on sustainability is driving growth in the global hard ferrite magnet market, as the demand for environmentally conscious technology solutions rises. Hard ferrite magnets, which do not rely on rare earth elements (REEs), are gaining traction due to both their sustainable production process and their essential role in modern technologies, including electric vehicles (EVs) and clean energy systems.

Key Players:

Profiles of some of the major players in the global Hard Ferrite Magnets market, which include Arnold Magnetic Technologies Corporation, Dailymag, ESSEN Magnets, Dexter Magnetic Technologies, JPMF Guangdong Co., Ltd., DMEGC Magnetics, Eclipse Magnetics, Standex Electronics, Inc., Adams Magnetic Products Co. and STEELMAG INTERNATIONAL.

Industry Development:

In December 2022, Hitachi Metals, Ltd. announced that, by optimizing the design of motors using its high-performance ferrite magnet NMF 15, it has confirmed through simulations that these motors can achieve output levels comparable to those of traction motors for electric vehicles (xEV) that typically use neodymium magnets.

In July 2023, Japanese metal manufacturer Proterial developed a prototype motor for electric vehicles that eliminates the need for neodymium, a rare-earth metal, in its magnets, aiming to reduce dependency on rare-earth resources in motor production.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Hard Ferrite Magnets market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

By Type: Sintered Ferrite Magnet, Bonded Ferrite Magnet.

By Application: Electro-Acoustic Products, Toy and Games, Automotive Industry, Home Appliance Industry, Computer and Office Equipment, Others.

By End-User: Automotive, Electrical and Electronics, Power Generation, Healthcare, Toy Industry, Mining and Heavy Machinery, Others.

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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Key Features:

➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.

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