Market Summary The Ceramic Ferrite Magnets market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 6.60% in terms of value from 2020, reaching a total of USD 14.46 billion by 2028. Ceramic magnets serve as a cost-effective alternative to metallic magnets, owing to their resistance to corrosion and demagnetization, as well as their cost-efficient production methods. These magnets find applications in various fields and account for approximately 75% of the global demand for permanent magnets by weight.
Ceramic magnets are likely to experience increased market demand due to their affordability and widespread availability. They are notably less expensive than alnico and rare earth magnets, making them suitable for a wide range of products. While ceramic magnets have a lower service temperature compared to alnico and a higher one compared to rare earth metals, they offer a lower energy product than both alnico and rare earth magnets.
These magnets feature a high intrinsic coercive force and are available in simple shapes such as blocks, rings, and rods, among others. They play a crucial role in applications such as electric motors, generators, alternators, hard disks, and servomotors. They have revolutionized energy storage and power generation, contributing to increased efficiency in generator motors, drive motors, and servomotors, resulting in significant energy savings.
Get a sample copy of the Ceramic Magnets Market report: https://www.reportsanddata.com/download-free-sample/1514
Ceramic magnets find typical applications in various products, including refrigerator magnets, security systems, pot magnets, loudspeakers, large plate magnets for contamination removal from processing lines, motors, generators, medical instruments, switches, and relays.
Ceramic Magnets Market: Drive factors
The Ceramic Ferrite Magnets market is driven by several key factors:
- Low Cost of Production: Ceramic magnets are cost-effective to manufacture compared to other types of magnets, such as rare earth magnets. This cost advantage makes them a preferred choice in many applications.
- Corrosion and Demagnetization Resistance: Ceramic magnets exhibit resistance to corrosion and demagnetization, making them suitable for applications where exposure to harsh environmental conditions or magnetic interference is a concern.
- Abundant Availability: Ceramic magnet materials are readily available, contributing to their popularity in various industries.
- Wide Range of Applications: Ceramic magnets find use in diverse applications, including electric motors, generators, alternators, hard disks, servomotors, refrigerator magnets, security systems, pot magnets, loudspeakers, and more. Their versatility fuels demand.
- Efficiency Improvement: In applications like electric motors and generators, ceramic magnets contribute to increased efficiency, resulting in significant energy savings.
- Affordability: Ceramic magnets are more affordable compared to alternative magnet materials like alnico and rare earth magnets, which makes them a cost-effective choice for manufacturers.
- Intrinsic Coercive Force: Ceramic magnets have a high intrinsic coercive force, making them suitable for applications where strong magnetism is required.
- Simple Shapes: They are available in simple shapes like blocks, rings, and rods, which makes them versatile for various design requirements.
- Growth in End-user Industries: The growth of industries such as automotive, electrical and electronics, and energy contributes to increased demand for ceramic magnets, as they are essential components in many products within these sectors.
- Regional Growth: Certain regions, especially Asia Pacific, have experienced significant growth in industries that rely on ceramic magnets, further driving market expansion.
- Promotional and Advertising Use: Ceramic magnets are used in promotional items and advertising displays, contributing to market growth as businesses and organizations seek to use them for branding and marketing purposes.
- Automotive Applications: The automotive industry’s expansion and the use of permanent magnets in applications like automotive sensors and switches contribute to the growth of ceramic magnet demand.
These driving factors collectively contribute to the robust growth of the ceramic magnets market.
Explore Trending Reports:
Retinal Surgery Devices Market-https://www.globenewswire.com/news-release/2019/12/05/1957037/0/en/Retinal-Surgery-Devices-Market-To-Reach-USD-3-27-Billion-By-2026-Reports-And-Data.html
Virus Filtration Market-https://www.globenewswire.com/news-release/2020/05/13/2032800/0/en/Virus-Filtration-Market-To-Reach-USD-4-11-Billion-By-2027-Reports-and-Data.html
Transcatheter Pulmonary Valve (TPV) Therapy Market-https://www.globenewswire.com/news-release/2019/02/28/1744573/0/en/Transcatheter-Pulmonary-Valve-TPV-Therapy-Market-To-Reach-66-4-Billion-By-2026-Reports-And-Data.html
Request a customization of the report: https://www.reportsanddata.com/request-customization-form/1514
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report
Browse Latest Blogs: https://www.reportsanddata.com/blogs
Browse Latest Press Release: https://www.reportsanddata.com/press-release
