Europe Ferrite Magnet Market

Market Overview:

The Europe ferrite magnet market size reached 29.6 Thousand Tons in 2022. Looking forward, IMARC Group expects the market to reach 36.4 Thousand Tons by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028.

Ferrite magnets, or ceramic magnets, are permanent, grey-colored electrically insulating magnets majorly consisting of iron oxide. They are produced by calcining fine powders of iron oxide, strontium carbonate or barium carbonate. Ferrite magnets are widely used in loudspeakers, door catches, magnetic suspension systems, headphones, security systems and computer hard drives. They exhibit high resistance to corrosion, demagnetization and are electrically insulated. In comparison to neodymium magnets, ferrite magnets can be used at extreme temperatures with minimal loss of magnetic force and are more cost-effective. As a result, they find extensive application across various industries, such as military, automotive and electrical.

Europe Ferrite Magnet Market Trends:

The growth in the Europe ferrite magnet market can be attributed to the widespread product utilization in the manufacturing of electro-acoustic products. Ferrite magnets are extensively used in microphones, intercom sets and sound-powered telephones. Additionally, the increasing product demand in the automotive industry is providing a thrust to the market growth. These magnets are utilized in anti-lock braking systems, windshield wipers and seat belt indicators to enhance passenger safety in the vehicles. Moreover, various product innovations, such as the utilization of spray roasting technique for the manufacturing of ferrite magnets, are favoring the market growth. Spray roasting aids in the generation of powdery red iron oxide that reduces wastewater production and saves energy. Other factors, including the extensive research and development (R&D) activities to develop high-quality permanent magnets, along with the widespread product adoption in magnetic resonance imaging (MRI) scanners and maxillofacial applications, are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Europe ferrite magnet market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on application.

Breakup by Application:

• Electro-Acoustic Products
• Electronics Industry
• Power Play Tools
• Car Line Industry
• Calculating Machines
• Others
   

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the Europe ferrite magnet market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe ferrite magnet market?
• What are the key regional markets?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the Europe ferrite magnet market and who are the key players?
• What is the degree of competition in the industry?