Bonded Magnet Market
PUBLISHED: 2024 ID: SMRC24654
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Bonded Magnet Market

Bonded Magnet Market Forecasts to 2030 - Global Analysis By Product (Ferrite, Rare Earth Magnets, Hybrid and Other Products), Process, Application, End User and By Geography

4.1 (64 reviews)
4.1 (64 reviews)
Published: 2024 ID: SMRC24654

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $2.4 BN

Projected Year Value (2030)

US $3.6 BN

CAGR (2023 - 2030)

6.1%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Bonded Magnet Market is accounted for $2.4 billion in 2023 and is expected to reach $3.6 billion by 2030 growing at a CAGR of 6.1% during the forecast period. A bonded magnet is a kind of magnet created by combining a polymer binder with magnetic granules, including neodymium or ferrite powders. After shaping or compressing this mixture into the required shape, it is heated to produce a solid, magnetic substance. Complex forms and sizes that would not be possible with conventional magnet production techniques are made possible by the binding agent, which aids in holding the magnetic particles together. These magnets are corrosion resistant, adaptable, and may be made to fit specific needs in the automotive, electronics, and healthcare sectors.

According to the Global Wind Energy Council, there is 743 GW of wind power capacity around the world, which is likely to result in the prevention of close to 1.1 Bn tons of CO2 emissions globally.

Market Dynamics: 

Driver: 

Growing demand in the automotive sector

Bonded magnets are widely used in the automobile industry for a variety of purposes, including motors, sensors, and actuators. Their versatility in electric vehicle (EV) motors and sensors provides increased efficiency, facilitating component rationalization and downsizing. Furthermore, their affordability and design flexibility provide manufacturers creative options that meet the changing demands of the automobile industry's electrification push. Thus, these aspects are driving the market's expansion.

Restraint:

Limited temperature stability

High temperatures can cause bonded magnets to lose their magnetic characteristics, hence they are not recommended for use in high-temperature situations. These magnets lose some of their magnetic characteristics at high temperatures, which might cause them to function worse and perhaps lose their magnetization permanently. These magnets' structural integrity may be compromised by degradation of the polymer or resin that binds them. These aspects are preventing the market from expanding.

Opportunity:

Environmental regulations

Increased environmental laws are driving more demand for bonded magnets. With their high magnetic qualities and reduced requirement for rare earth elements, these magnets provide a sustainable substitute. Because recyclable materials are used in their manufacture, the environmental effect is minimized. The usage of bonded magnets in different energy-saving applications is encouraged by rules supporting energy-efficient technology and an increased focus on environmental sustainability.

Threat:

Susceptibility to corrosion

Some bonded magnets are more prone to corrosion, especially in high-moisture or chemically exposed situations. Because they are composed of a polymer and magnetic granules, they are easily degraded and oxidized in humid or abrasive settings. Due to this weakness, they are less useful in environments where great endurance is required because of their reduced lifetime and magnetic performance. The market's expansion is being hampered by these issues.

Covid-19 Impact: 

The pandemic disrupted global supply chains, affecting the availability of raw materials and components necessary for bonded magnet production. Restrictions on transportation and logistics created delays and shortages. Social distancing requirements and lockdown measures affected manufacturing facilities, leading to reduced production capacity or temporary closures. This disruption impacted the overall output of bonded magnets.

The injection molding segment is expected to be the largest during the forecast period

The injection molding segment is expected to be the largest during the forecast period. Bonded magnet injection molding offers precise shaping of complex geometries, allowing intricate designs and tight tolerances. It enables high-volume production, reducing manufacturing time and cost. The process facilitates consistent magnetic properties, enhancing performance reliability. Additionally, it permits the incorporation of various materials, leading to customized magnet properties for specific applications.

The sensors segment is expected to have the highest CAGR during the forecast period

The sensors segment is expected to have the highest CAGR during the forecast period. They possess high magnetic strength and stability, enabling precise and reliable sensing capabilities. Their durability allows for extended use in harsh environments. Their adaptability to various shapes and sizes makes them versatile for different sensor applications. Overall, bonded magnet sensors provide robust performance, cost efficiency, and versatility in sensing technology.

Region with largest share:

North America is projected to hold the largest market share during the forecast period due to the increased demand for various applications across industries like automotive, electronics, and healthcare. In this region, factors like technological advancements, the need for energy-efficient products, and the push for renewable energy sources have contributed to the growth of the market. Moreover, the market is influenced by environmental regulations and initiatives promoting the use of sustainable and eco-friendly materials.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period due to various factors such as increasing industrialization, technological advancements, and rising demand in sectors like automotive, electronics, and energy. With the growing emphasis on renewable energy sources like wind power and the increasing adoption of electric vehicles, the demand for bonded magnets in these sectors is expected to further boost the market in the region.

Key players in the market

Some of the key players in Bonded Magnet market include Dura Magnetics, Inc., Super Magnet Co., Ltd., Adams Magnetic Products, SDM Magnetics Co., Ltd., Ningbo Yunsheng Co. Ltd., Advanced Technology Materials Co. Ltd., MP Material, MMC Magnetics Corp, Arnold Magnetic Technologies, Alliance LLC, Dexter Magnetic Holdings, LLC , TDK Corporation, Stanford Magnets and Allstar Magnetics.

Key Developments:

In April 2023, Arnold Magnetic Technologies Corporation  and leading global manufacturer of high-performance magnets and more for mission critical applications, announced its partnership with Cyclic Materials, a pioneer in developing more sustainable domestic supply chains for rare earth elements.

In March 2022, Dexter Magnetic Holdings, LLC has announced the acquisition of Torrance, California-based Magnetic Component Engineering, LLC (“MCE”). The transaction brings together two of the leading designers and manufacturers of permanent magnets and magnetic assemblies in North America.

Products Covered:
• Ferrite
• Rare Earth Magnets
• Hybrid
• Other Products

Process Covered:
• Injection Molding
• Extrusion
• Compression
• Calendaring 

Applications Covered:
• Magnetic Couplings
• Hard Disk Drives
• Sensors
• Motors
• Level Gauges
• Instruments Panels
• Copier Rotors
• Fuel Filters
• Other Applications

End Users Covered:
• Automotive
• Power Generation
• Pharmaceutical
• Consumer Electronics
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary       
         
2 Preface        
 2.1 Abstract       
 2.2 Stake Holders      
 2.3 Research Scope      
 2.4 Research Methodology     
  2.4.1 Data Mining     
  2.4.2 Data Analysis     
  2.4.3 Data Validation     
  2.4.4 Research Approach     
 2.5 Research Sources      
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions     
         
3 Market Trend Analysis      
 3.1 Introduction      
 3.2 Drivers       
 3.3 Restraints      
 3.4 Opportunities      
 3.5 Threats       
 3.6 Product Analysis      
 3.7 Application Analysis     
 3.8 End User Analysis      
 3.9 Emerging Markets      
 3.10 Impact of Covid-19      
         
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry      
         
5 Global Bonded Magnet Market, By Product    
 5.1 Introduction      
 5.2 Ferrite       
  5.2.1 Rubber Ferrite     
  5.2.2 Plastic Ferrite     
 5.3 Rare Earth Magnets      
  5.3.1 Isotropic      
  5.3.2 Anisotropic     
 5.4 Hybrid       
 5.5 Other Products      
         
6 Global Bonded Magnet Market, By Process    
 6.1 Introduction      
 6.2 Injection Molding      
 6.3 Extrusion       
 6.4 Compression      
 6.5 Calendaring      
         
7 Global Bonded Magnet Market, By Application    
 7.1 Introduction      
 7.2 Magnetic Couplings      
 7.3 Hard Disk Drives      
 7.4 Sensors       
 7.5 Motors       
 7.6 Level Gauges      
 7.7 Instruments Panels      
 7.8 Copier Rotors      
 7.9 Fuel Filters      
 7.10 Other Applications      
         
8 Global Bonded Magnet Market, By End User    
 8.1 Introduction      
 8.2 Automotive      
 8.3 Power Generation      
 8.4 Pharmaceutical      
 8.5 Consumer Electronics     
 8.6 Other End Users      
         
9 Global Bonded Magnet Market, By Geography    
 9.1 Introduction      
 9.2 North America      
  9.2.1 US      
  9.2.2 Canada      
  9.2.3 Mexico      
 9.3 Europe       
  9.3.1 Germany      
  9.3.2 UK      
  9.3.3 Italy      
  9.3.4 France      
  9.3.5 Spain      
  9.3.6 Rest of Europe     
 9.4 Asia Pacific      
  9.4.1 Japan      
  9.4.2 China      
  9.4.3 India      
  9.4.4 Australia      
  9.4.5 New Zealand     
  9.4.6 South Korea     
  9.4.7 Rest of Asia Pacific     
 9.5 South America      
  9.5.1 Argentina     
  9.5.2 Brazil      
  9.5.3 Chile      
  9.5.4 Rest of South America    
 9.6 Middle East & Africa     
  9.6.1 Saudi Arabia     
  9.6.2 UAE      
  9.6.3 Qatar      
  9.6.4 South Africa     
  9.6.5 Rest of Middle East & Africa    
         
10 Key Developments       
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures  
 10.2 Acquisitions & Mergers     
 10.3 New Product Launch     
 10.4 Expansions      
 10.5 Other Key Strategies     
         
11 Company Profiling       
 11.1 Dura Magnetics, Inc.     
 11.2 Super Magnet Co., Ltd.     
 11.3 Adams Magnetic Products     
 11.4 SDM Magnetics Co., Ltd.
 11.5 Ningbo Yunsheng Co. Ltd.     
 11.6 Advanced Technology Materials Co. Ltd.    
 11.7 MP Material      
 11.8 MMC Magnetics Corp     
 11.9 Arnold Magnetic Technologies     
 11.10 Alliance LLC      
 11.11 Dexter Magnetic Holdings, LLC     
 11.12 TDK Corporation      
 11.13 Stanford Magnets      
 11.14 Allstar Magnetics      
         
List of Tables        
1 Global Bonded Magnet Market Outlook, By Region (2021-2030) ($MN)  
2 Global Bonded Magnet Market Outlook, By Product (2021-2030) ($MN)  
3 Global Bonded Magnet Market Outlook, By Ferrite (2021-2030) ($MN)  
4 Global Bonded Magnet Market Outlook, By Rubber Ferrite (2021-2030) ($MN) 
5 Global Bonded Magnet Market Outlook, By Plastic Ferrite (2021-2030) ($MN) 
6 Global Bonded Magnet Market Outlook, By Rare Earth Magnets (2021-2030) ($MN) 
7 Global Bonded Magnet Market Outlook, By Isotropic (2021-2030) ($MN)  
8 Global Bonded Magnet Market Outlook, By Anisotropic (2021-2030) ($MN) 
9 Global Bonded Magnet Market Outlook, By Hybrid (2021-2030) ($MN)  
10 Global Bonded Magnet Market Outlook, By Other Products (2021-2030) ($MN) 
11 Global Bonded Magnet Market Outlook, By Process (2021-2030) ($MN)  
12 Global Bonded Magnet Market Outlook, By Injection Molding (2021-2030) ($MN) 
13 Global Bonded Magnet Market Outlook, By Extrusion (2021-2030) ($MN)  
14 Global Bonded Magnet Market Outlook, By Compression (2021-2030) ($MN) 
15 Global Bonded Magnet Market Outlook, By Calendaring (2021-2030) ($MN) 
16 Global Bonded Magnet Market Outlook, By Application (2021-2030) ($MN) 
17 Global Bonded Magnet Market Outlook, By Magnetic Couplings (2021-2030) ($MN) 
18 Global Bonded Magnet Market Outlook, By Hard Disk Drives (2021-2030) ($MN) 
19 Global Bonded Magnet Market Outlook, By Sensors (2021-2030) ($MN)  
20 Global Bonded Magnet Market Outlook, By Motors (2021-2030) ($MN)  
21 Global Bonded Magnet Market Outlook, By Level Gauges (2021-2030) ($MN) 
22 Global Bonded Magnet Market Outlook, By Instruments Panels (2021-2030) ($MN) 
23 Global Bonded Magnet Market Outlook, By Copier Rotors (2021-2030) ($MN) 
24 Global Bonded Magnet Market Outlook, By Fuel Filters (2021-2030) ($MN) 
25 Global Bonded Magnet Market Outlook, By Other Applications (2021-2030) ($MN) 
26 Global Bonded Magnet Market Outlook, By End User (2021-2030) ($MN)  
27 Global Bonded Magnet Market Outlook, By Automotive (2021-2030) ($MN) 
28 Global Bonded Magnet Market Outlook, By Power Generation (2021-2030) ($MN) 
29 Global Bonded Magnet Market Outlook, By Pharmaceutical (2021-2030) ($MN) 
30 Global Bonded Magnet Market Outlook, By Consumer Electronics (2021-2030) ($MN)
31 Global Bonded Magnet Market Outlook, By Other End Users (2021-2030) ($MN) 
         
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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