Bonded Magnet Market Size, Share and Analysis By Process Type (Injection Moulded Bonded Magnets, Compression Bonded Magnet, Calendaring Bonded Magnets, Extrusion Bonded Magnets), By Application (Sensors, Motors, Level Gauges, Instruments Panels, Copier Rotors, Fuel Filters, Magnetic Couplings, Hard Disk Drives), By End User Industry (Automotive, Pharmaceutical, Power) and Regional Forecast, 2024-2032

Bonded Magnets are the magnets that are made of mixing magnetic powder with non-magnet powder like plastic, rubber, and elastomers. The magnetic powders used in the bonded magnet are NdFeB, SmCo, ferrite, and/or combination of all. The non-magnetic material used are naturally in the structure of thermoplastic or elastomeric binder. Consumer Electronics is the dominating sector where bonded magnets find its applications.

• Consumer electronics is one of the swiftly growing industries. For example, the global consumer electronics spending on 2023 is expected to be more than USD2Trillion.


• Data storage is one another prominent product these days. As per reports, in 2018, 912 Exabyte of storage devices were shipped. Among that 800 Exabytes of storage was from Hard Disk Drives and 89 percent of that has a magnetic spinning platters in it.


• These bonded magnets are used in Electric motors since they are shape diverse. The application of bonded magnets in the electronic appliances like computer hardware, HVAC equipment, and Speakers etc., is one of the major factor driving the industry. The shape diversity lets the magnet to fit in any shaped engines and researches are going on to make the magnet more heat resistant.


• The production of electric vehicles is expected to increase in future due to environmental norms and concerns there by opening up a huge market for bonded magnets.

Impact of COVID-19 on the Global Bonded Magnet Market:

The restrictions imposed by governments of different countries to stop the spread of COVID-19 virus during the pandemic has impacted many manufacturing sector immensely. But the countries like China, and the USA, are removing restrictions on production industries and supply chain as the spread is getting under control and due to increased rate of vaccination. Despite the fall in the demand during the pandemic period the market is expected to grow positively in future.

Key Insights

The report will cover following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends and Opportunities


• Business Strategies Adopted by the Players


• Impact of COVID-19 on Global Bonded Magnet Market


• Consolidated SWOT Analysis of Key Players

Regional Analysis

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Asia Pacific has the highest market share for the current period and is expected to dominate the market throughout the forecast period. The Countries like Japan, and China are known for manufacturing of Electrical and Electronic products such as Electric Appliances, Electric vehicles, electrical components, and many. The presence of above mentioned industries in these countries surge the demand for bonded magnets.

• For example, Asia Pacific’s total revenue from Consumer Electronics in 2018 is more than USD500Billion and the consumption is increasing every year. Chinese Government is passing norms to the automotive companies to make their 40 percent of sales from Electric Vehicles by 2030.

Europe has the highest CAGR for the bonded magnet market in the forecast period. The increasing production of electric vehicles in the region is one of the major factor contributing to the market.

• For example, the companies like the Tesla, the Volkswagen are already in the process of adding production lines either in their existing manufacturing units or in new ones. Nissan has announced about the investment of USD17.6Billion to manage the future demand for Electric Vehicle batteries.

North America is witnessing a considerable growth for the market. The rising demand for heavy equipment due to rapid industrialization in the countries like the United States, Canada are the market driving factors for bonded magnet. The technology advancement is focusing on producing the smaller sized equipment of all types. The bonded magnets due to its shape diversity and light weight are used for such applications.

The regions like Latin America and Middle East & Africa is also showing a decent growth in the bonded magnet market. The oil and petroleum sector in countries like Saudi Arabia, the UAE, and Iran and the Mining industry in countries such as Democratic Republic of Congo, South Africa, Namibia, and Zimbabwe demands heavy pumps and equipment. The afore mentioned are some growth factors of the market.

Key Players Covered

The Key players covered in the study are Alliance LLC, Advanced Technology & Materials Co.,Ltd., Xiamen Yuxiang Magnetic Materials Technology Co. Ltd, Allstar Magnetics, Ningbo Yunsheng Co. Ltd., VACUUMSCHMELZE GmbH & Co. KG, Stanford Magnets, Magnequench International, LLC, DEXTER MAGNETIC TECHNOLOGIES., MS-Schramberg GmbH & Co. KG, and RHEINMAGNET Horst Baermann GmbH.

Segmentation

Key Industry Developments

In April, 2020 – MS Scramberg, a leading producer of magnetic materials, added Elastomer Bonded Magnets in its portfolio. These magnets are more flexible and has high elasticity and they find a wide range of applications like engine transmissions and Camshafts in automobile industries, light weight magnets in electronic appliances, and many more