Press release
Global Ferrite Magnet Market to Reach 1.39 Million Metric Tons by 2022
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Ferrite magnets are dark grey in colour and have an appearance like a pencil lead. They are resistant to corrosion and are known for their good balance of magnetic strength. However, as they are very brittle and susceptible to demagnetisation, they require proper handling and packing to ensure safety. These magnets are currently available in a variety of grades ranging from Grade 1 to Grade 8 depending upon their performance and operational temperature.
Browse full report with TOC: http://www.expertmarketresearch.com/reports/ferrite-magnet-market
Ferrite magnets are extensively used in a number of industries all across the world. As the raw materials used to manufacture these magnets are relatively low-priced in comparison to other types of permanent magnets, ferrite magnets are highly used for high volume applications. According to a new report by Expert Market Research, the global ferrite magnet market reached a volume of 1.07 Million Metric Tons in 2016 and is further expected to reach 1.39 Million Metric Tons by 2022.
Key findings from the report:
Ferrite magnets serve a number of application domains which include electro-acoustic products, consumer electronics, automobiles, healthcare equipment, separating equipment, and others. Among these, electro-acoustic products which include loudspeakers, piezo buzzers and magnetic buzzers, accounted for the largest share in 2016.
Region-wise, China dominated the market with a share of more than a half of the total global ferrite magnet market. This can be accredited to relatively cheap labour and abundant availability of raw materials in the region. The other major markets are Japan, the United States and India.
The key players in the global ferrite magnet market are situated in China and Japan. Some of these players include Ningbo Yunsheng Co. Ltd, Hangzhou Permanent Magnet Group, JPMF Guangdong Co. Ltd, Hitachi Metals Ltd, Daido Steel Co. Ltd, Shin-Etsu Chemical Co. Ltd and Lynas Corporation Ltd.
Expert Market Research has analysed the global ferrite magnet market according to key application areas, major regions and top players:
Market breakup by Application
Electro-Acoustic Products
Consumer Electronics
Automobiles
Healthcare Equipment
Separating Equipment
Other Applications
Market breakup by Region
China
Japan
The United States
India
Top players
Ningbo Yunsheng Co. Ltd
Hangzhou Permanent Magnet Group
JPMF Guangdong Co. Ltd
Hitachi Metals Ltd
Daido Steel Co. Ltd
Shin-Etsu Chemical Co. Ltd
Lynas Corporation Ltd
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Expert Market Research (EMR) is a market research and consultancy firm providing syndicated and custom research along with consultancy services to a wide clientele base which includes Fortune 1000 companies as well as small and medium enterprises. With our tailored approach, the clients gain valuable and unbiased insights that help to improve their competitive edge and realize sustainable growth.
With a keen focus on the qualitative aspect as well as accuracy of the reports, we align our resources and services as per the client’s requirement and offer a flexible engagement model that best suits their needs. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical & Materials, Energy & Mining, Packaging and Agriculture.
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