The ferrite magnets presently
demonstrate the more broadly utilized permanent magnets around the world. The
foremost raw materials utilized to making the ferrite magnets are relatively
economical compared to the most several other types of the permanent magnets.
This allows them to be accurately suited for the wide capacity production runs.
Such magnets are also termed as the ceramic magnets owing to their excellent
electrical insulation capability. In addition, the ferrite magnets are
outstanding in damp, wet or marine surroundings and exhibit high confrontation
to demagnetization and corrosion. Furthermore, the requirement for the product
is majorly fostered by the growing production of the electric vehicles,
increasing wind energy installations, and speedily increasing robotics
industry.
Not only has this, the potential
companies in the global ferrite magnet market are effectively expanding the
business premises, increasing the applications of the magnets and implementing
the effective strategies. According to the report analysis, ‘Global
Ferrite Magnets Market 2019 by Manufacturers, Regions, Type and Application,
Forecast to 2024’ states that in the global ferrite magnets there are
numerous active players which presently functioning more significantly for
leading the fastest market growth and registering the high value of market
share around the globe in the coming years more enormously while studying the
limitations of the government, determining the competitive strategies of the
competitors, accepting the profitable policies and analyzing the growth drivers
along the opportunities includes TDK, Magnetic, Hitachi Metals, FDK, JFE,
TOKIN, ARNORD, FEELUX, Ferroxcube, DMEGC, JPMF, Jinchuan Electronics, TDG,
Sinomag, FENGHUA, ACME and several others.
In the global market, the manufacture
of ferrite magnets effectively augments from 1406 K MT in 2011 to 1540 K MT in
2015, at a CAGR approximately 2.3%. In 2015, the global ferrite magnets market
is controlled by China, apprehending about 52.30% of global ferrite magnets
construction. Japan is the second-largest county-wise market with 13.82% global
production share. At present-day, the foremost producers of the ferrite magnets
are strenuous in TDK, Magnetic, Hitachi Metals, FDK, Ferroxcube, DMEGC and
JPMF. TDK is the world frontrunner, controlling 7.36 % construction market
share in 2015.
However, based on the region, the
market of ferrite magnet is spread across the globe which majorly includes the
industrialized and developed regions such as North America, Asia Pacific,
Europe and Rest of the World. The Asia Pacific region was the principal
regional market for ferrite magnets. Southeast Asia is also projected to
observe the fastest growth, at an expected CAGR of 3.2% from 2011 to 2015.
China and Japan are estimated to witness require growth at an anticipated CAGR
of 2.0% and 2.4% from 2011 to 2015, correspondingly.
Not only has this, the international
market for Ferrite Magnets is projected to increase at a CAGR of approximately
-0.5% over the next five years, will reach 4340 million USD in 2024, from 4480
million USD in 2019. Therefore, in the near years, it is anticipated that the
market of ferrite magnet will increase around the globe more significantly over
the coming years.
To know more, click on the link below:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
