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The India ferrite magnet market is expected to exhibit a CAGR of 2.62% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Ferrite magnets, or ceramic magnets, are permanent magnets that are manufactured using iron oxide and strontium carbonate. They are grey-colored electrically insulating magnets with high operating temperatures and resistance to demagnetization. They are generally available in the form of rings, discs, cylinders and blocks and are widely used in headphones, door latches, security systems, loudspeakers, magnetic suspension systems and computer hard drives. Ferrite magnets exhibit high resistance to corrosion and are electrically insulating. As a result, they find extensive applications across various industries, such as automotive, telecommunication and electronics.
The growth in the India ferrite magnet market can be attributed to the widespread product adoption in the automotive industry. These magnets are utilized in various parts of vehicles and aircraft, such as windshield wipers, braking systems and seat belt indicators, to provide enhanced passenger safety. Additionally, the increasing product adoption in medical devices and machines is favoring the market growth. Ferrite magnets are used in magnetic resonance imaging (MRI) scanners, dental devices and maxillofacial surgical tools. Moreover, the utilization of sol-gel processing techniques for the manufacturing of ferrite magnets is providing a thrust to the market growth. Since sol-gel processing aids in producing magnets with enhanced structural, mechanical and electrical properties at relatively low temperatures, this is driving the market toward growth. Other factors, including the widespread product utilization in the production of electro-acoustic products, along with the increasing demand for high-quality permanent magnets, are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the India ferrite magnet market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on application.
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2021|
|Segment Coverage||Application, Region|
|Region Covered||North India, West and Central India, South India, East India|
|Customization Scope||10% Free Customization|
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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