Ferrite magnetic powder can be obtained from ceramic magnets which have electrical insulation properties. It can be found in two different types namely, anisotropic and isotropic ferrite magnetic powder. Anisotropic ferrite magnetic powder is used in the production of sintered ferrite magnets of medium energy which are further used in medium and lower class micro-motor and holding devices. On the other hand, isotropic ferrite magnetic powder is suitable for manufacturing sintered ferrite magnets with lower energy. Moreover, the fluidity of ferrite magnetic powder also plays an important role in affecting the compactness and padding speed in moulds. The latest report by IMARC Group, titled ‘’Ferrite Magnetic Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023’’, provides a comprehensive evaluation of the ferrite magnet market and offers a techno-commercial roadmap for setting up a ferrite magnetic powder manufacturing plant.
Global Ferrite Magentic Powder Market Drivers/Constraints:
- Expanding industrial applications of ferrite magnetic powder in magnetic separators, magnetic therapy, medium and higher energy speaker rings, toys, automotive motors, coatings of magnetic recording tapes, holding-magnet systems and NMR devices is the major growth-inducing factor of the market.
- As ferrite magnets are cost-effective and exhibit better resistance to demagnetization and corrosion, they are gaining popularity among the manufacturers as an alternative to metallic magnets.
- Increasing consumption of micro-motors for various applications in diverse industries is expected to create an attractive market for both ferrite magnets and its powder in the upcoming years.
- Some factors such as weaker adhesive force per volume, high brittleness and lack of aesthetics hamper the demand for ferrite magnetic powder.
Based on end-use, the report finds that electro-acoustic production products currently represent the largest end-use segment of ferrite magnetic powder. This segment is followed by electronics firms, power play tools, car line industry and calculating machine.
On a geographical front, China enjoys a leading position in the global market on account of the high demand for ferrite magnetic powder in the region. China is followed by Japan, USA and India.
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Ningbo Yunsheng Co. Ltd.
- Hangzhou Permanent Magnet Group
- JPMF Guangdong Co. Ltd.
- Ninggang Permanent Magnet Materials Co. Ltd.
- Hitachi Metals Ltd.
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