India Ferrite Magnet Market to Grow at 2.62% During 2022-2027, Catalyzed by Increasing Applications in the Automotive Industry

September 06, 2022

The latest report by IMARC Group, titled “India Ferrite Magnet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the India ferrite magnet market is expected to exhibit a CAGR of 2.62% during the forecast period (2022-2027). Ferrite magnets, also known as ceramic magnets, are permanent magnets that appear darker grey in color and have electrical insulation ability. They are made using strontium carbonate and iron oxide and are widely available in different forms, such as rings, discs, cylinders, and blocks. They are rigid and exhibit unique properties, including high operating temperatures, intrinsic coercivity, and resistance to demagnetization and corrosion. They can tolerate exposure to high temperatures up to 250 degrees and possess excellent resistance against greases, lubricants, weak acids, and solvents. As a result, ferrite magnets are extensively used in headphones, door latches, security systems, loudspeakers, magnetic suspension systems, and computer hard drives.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.       

India Ferrite Magnet Market Trends:

In India, the increasing applications of ferrite magnets in the automotive industry represent the primary factor driving the market growth. For instance, ferrite magnets are widely employed in various parts of automobiles and aircraft, such as braking and locking systems, windshield wipers, and seat belt indicators, to improve passenger safety. Besides this, the escalating product demand from the consumer electronics sector for manufacturing appliances, including electric fans, vacuum cleaners, refrigerators, and microwave ovens, has accelerated the adoption of ferrite magnets. Additionally, due to their cost-effectiveness and long-term performance, there has been widespread product adoption in medical devices and machines, such as magnetic resonance imaging (MRI) scanners, dental devices, and maxillofacial surgical tools. In line with this, the surging need for medical equipment and ventilators amid the sudden coronavirus disease (COVID-19) outbreak has augmented the demand for ferrite magnets. Furthermore, the rising adoption of innovative manufacturing techniques, such as sol-gel processing, which assists in producing magnets with better structural, mechanical, and electrical properties at relatively low temperatures, has catalyzed market growth. Other factors, including the increasing sales of electronics and vehicles, inflating consumer income levels, rising applications in electro-acoustic products, surging healthcare expenditure, and ongoing research and development (R&D) activities, are also providing a positive thrust to the market growth. 

Market Summary:

  • Based on the application, the market has been classified into electro-acoustic products, electronics industry, power play tools, car line industry, calculating machines, and others.
  • Region-wise, the market has been divided into North India, West and Central India, South India, and East India.
  • The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry. 

 

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

USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal

India Ferrite Magnet Market to Grow at 2.62% During 2022-2027, Catalyzed by Increasing Applications in the Automotive 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