Sales of bonded magnets will reach US$10.9 billion amid growing application in hard drives
Increased preference for green energy technologies to increase bonded magnet sales by 7.8% by 2032
In the latest report, Fact.MR provides a comprehensive analysis of the opportunities and challenges affecting the global bonded magnets market. The report also focuses on key factors influencing growth and key trends in various segments including product type, process type, application, end-use, and regions.
NEW YORK, April 14, 2022 /PRNewswire/ — Global demand for bonded magnet is expected to reach a valuation of US$5.1 billion in 2022, at a CAGR of 7.8% over the period 2022-2032. Overall market sales are expected to exceed US$10.9 billion end of 2032.
Bonded magnets are increasingly used in computer hardware, especially in digital storage solutions. The application of bonded magnets in data storage is expected to support the growth of the market.
Subsequently, the increasing use of these magnets in electric motors stimulated the application of neodymium-iron-boron (NdFeB) magnets as a stator to produce linear or circular motion. This is likely to create lucrative opportunities for market growth.
Additionally, bonded magnets such as NdFeB magnets are widely used in green technologies, such as wind turbines. To reduce carbon emissions and meet energy needs, the demand for these magnets is increasing.
For critical information on this market, request more information at:
Inclination for electronic devices and electrical equipment due to improved living standards in developing countries, such as Japan, Chinaand India increased. This is expected to propel sales of bonded magnets over the next few years.
In addition to this, the use of bonded magnets in the engine, sensors, level gauges, fuel and filters in the automotive sector is expected to drive the market. Subsequently, the growing preference for bonded magnets over sintered magnets owing to their cost effectiveness and superior performance will create more remunerative prospects for the market.
Therefore, major manufacturers are focusing on producing polymer bonded rare earth magnets due to their compatibility with injection molding and 3D printing applications. This should boost bonded magnet sales.
Base year value (2021A)
Estimated annual value (2022E)
Projected year value (2032F)
World growth rate (2022-2032)
Key points to remember:
- Based on process type, calendar bonded magnets are expected to dominate the market, growing at a CAGR of 8.3% during 2022-2032.
- In terms of application, the sensor segment is expected to grow at a CAGR of 9% owing to the growing demand from the automotive industry.
- China should represent more than 3/4and in market share, exceeding US$2.3 billion during the forecast period.
- Sales of bonded magnets in North America should reach US$686 million due to the growing preference for electronic products in the United States
- Growing demand for automation and ride-sharing technology in vehicles is likely to create prolific growth opportunities for the market.
- The increasing use of computers in the personal and professional domain is expected to increase sales of hard drives and SSDs, thus propelling sales.
- Strict government regulations and tariffs applied to trade in rare-earth magnets and ferrite-like magnets are expected to restrict the supply of semiconductor chips, limiting sales of bonded magnets.
- Polymer properties are likely to impact the maximum operating temperature of the bonded magnet, restraining the growth of the market.
- Rising expenses associated with injection molding and extrusion processes will also hamper the growth of the market.
For in-depth information on Bonded Magnets Market, Methodology Demand to
According to Fact.MR, the global bonded magnet market is moderately fragmented. Major players are estimated to account for 15%-20% of the market share. Meanwhile, the market is dominated by small and medium-sized players, holding 80-85% of the demand share.
The major players in the market are adopting various strategies, such as mergers and acquisitions, partnerships, and others to increase their revenue. They are also advancing their product portfolio to gain a competitive edge in the market.
- March 2021: Arnold Magnetic Technologies, a subsidiary of Compass Diversified, has completed the acquisition of Ramco Electric Motors Company, a manufacturer of all-electric rotors, stators and motors. This deal has helped the company advance its product portfolio.
- April 2021: HITACHI Metals, Ltd. negotiates the sale of its list of metal units, Nikkei, to the Bain-Led group. It is presumed that the case is estimated at the top 800 billion yen. The decision is not yet finalized.
Top Companies Featured by Fact.MR
- SDM Magnetics Co., Ltd.
- TDK Company
- Ningbo Yunsheng Co. Ltd.,
- Ningbo Newland Magnet Industry Co., Ltd.
- Advanced Technology Materials Co. Ltd.
- Magnequench International, LLC
- Arnold Magnetic Technologies,
- Mate Co., Ltd.
- Evitron Sp.zoo
- Daido Electronics Co.,Ltd.
- MMC Magnetics Corp.
- RHEINMAGNET Horst Baermann GmbH.
- Hitachi Metals, Ltd.
- PM material
- Dura Magnetics, Inc.
- Adams Magnetic Products
- National Imports, LLC
- Galaxy Magnets
- Super Magnet Co., Ltd.
- Shanghai San Huan Magnetics Co., Ltd.
- Other key players
More Valuable Insights into the Bonded Magnets Market
Fact.MR in its report offers a comprehensive analysis of the Global Bonded Magnets Market for the forecast period 2022 to 2032. This survey also reveals key growth factors and trends affecting sales in the Bonded Magnets Market. For better understanding, the market is segmented on the basis of:
By product type:
- Rare earth magnets
- Bonded ferrite magnets
By type of process:
- Injection molded bonded magnets
- Compression Bonded Magnets
- Glued Magnet Calendar
- Extrusion Bonded Magnets
- Level gauges
- Copier rotors
- Fuel filters
- Magnetic couplings
By end use:
- HVAC equipment
- Medical equipement
- Consumer electronics
- Computers and Magnetic Storage Devices
- Electrical equipment
- Measuring instruments
- Printer and copiers
- North America
- Latin America
- East Asia
- South Asia & Oceania
Key Questions Covered in the Bonded Magnets Market Report
- What are the key trends supporting the growth of the Global Bonded Magnets Market?
- What is the estimated market revenue of the Global Bonded Magnets Market over the forecast period (2022-2032)?
- What will be the market size of the Bonded Magnets market in 2022?
- What was the market valuation of the bonded magnets market in 2021?
- Who are the major manufacturers dominating the global Bonded Magnets market?
- What are the factors hindering the growth of the Bonded Magnets market?
Discover Fact.MR’s coverage in the field of chemistry and materials
Nanocrystalline Soft Magnetic Materials Market: Global sales of nanocrystalline soft magnetic materials are expected to increase due to the growing demand for power electronics to operate efficiently even at higher frequencies. In addition, the growing demand for space-saving power circuits in light weight electric vehicles is expected to drive sales of nanocrystalline soft magnetic materials.
Arc Ferrite Magnet Market: According to Fact.MR, the ferrite arc magnet market is expected to witness steady growth between 2022 and 2032. The market growth is mainly attributed to the properties offered by these magnets, such as high resistance to demagnetization and corrosion. corrosion resistance.
Steel Magnet Market: Increasing application of steel bar magnets to separate metal particles from mined materials is expected to drive the market. In addition to this, the increasing use of steel bar magnets as anti-lock braking system (ABS) to ensure driving safety is expected to boost the market.
Fact.MR is a market research and advisory agency with deep expertise in emerging market intelligence. Covering a wide range – from automotive and industry 4.0 to healthcare, chemicals and materials, and the most specialized categories. 80% of Fortune 1000 companies trust us with critical decision making.
USA sales office
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583
E: [email protected]
Follow us: LinkedIn | Twitter