Europe Ferrite Magnet Market to Grow at 3.47% During 2022-2027, Bolstered by Significant Growth in Consumer Electronics Industry

December 01, 2022

According to the latest report by IMARC Group, titled “Europe Ferrite Magnet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Europe ferrite magnet market is expected to grow at a CAGR of 3.47% during 2022-2027. Ferrite magnet is a dark grey-colored, non-conductive, and ferrimagnetic ceramic compound derived from various iron oxides, such as haematite and magnetite. It includes strontium and barium ferrite magnets that are available in various shapes, such as discs, arcs, blocks, rods, and rings. Ferrite magnet is manufactured by calcining iron oxide with strontium or barium carbonate followed by milling and wet or dry pressing. It is widely used in computer hard drives, security systems, speakers, motors, generators, sensors, relay switches, and meters. Ferrite magnet is a cost-effective and highly durable material that exhibits electrically insulating properties and low magnetic energy and can be utilized for outdoor applications without rusting. As compared to other permanent magnets, ferrite magnet has high resistance potential against solvents, weak acids, lubricants, and greases. 

Europe Ferrite Magnet Market Trends:

The rising product utilization in various consumer electronics, such as refrigerators, microwave ovens, electric fans, vacuum cleaners, washing machines, food mixers, hand dryers, and air conditioners, is one of the primary factors driving the market growth in Europe. In addition to this, the widespread adoption of ferrite magnets in transformer cores, antennas, and inductors due to their high susceptibility to demagnetization is acting as another growth-inducing factor. Furthermore, increasing product utilization in manufacturing various electro-acoustic products, such as microphones, headphones, loudspeakers, intercom sets, guitar pick-ups, and audio systems, is providing an impetus to the market growth. Apart from this, the surging investment by the European Union (EU) in various research and development projects to improve the production of ferrite magnets, which, in turn, reduces the high import dependency on rare-earth magnets, is propelling the market growth. Additionally, the increasing utilization of the spray roasting technique to produce ferrite magnets with reduced wastewater production and energy is positively influencing the market growth. Moreover, the rising adoption of ferrite magnets in the automotive industry to manufacture anti-lock braking systems (ABS), windshield wipers, seat belt indicators, and car audio systems is propelling the market growth. Other factors, including rising demand for ferrite magnets to manufacture computer memory systems, medical devices, and ventilators, and extensive product utilization in home décor and novelty items, are anticipated to drive the market growth.

Market Summary:

  • On the basis of the application, the market has been classified into electro-acoustic products, electronics industry, power play tools, car line industry, calculating machines, and others.
  • On a regional basis, the market has been categorized into Germany, France, the United Kingdom, Italy, Spain, and others.
  • The competitive landscape of the industry has also been examined along with the profile of the key players.  
     

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste 
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Europe Ferrite Magnet Market to Grow at 3.47% During 2022-2027, Bolstered by Significant Growth in Consumer Electronics Industry
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More