Ceramic Magnet Market

According to Stratistics MRC, the Global Ceramic Magnet Market is accounted for $9.7 billion in 2023 and is expected to reach $16.3 billion by 2030 growing at a CAGR of 9% during the forecast period. Metallic magnets can be replaced at a lower cost with ceramic magnets. Due to their low production costs and resistance to corrosion and demagnetization, these magnets are employed in a variety of applications. By weight, ceramic magnets account for over 75% of the world's need for permanent magnets. Ceramic magnets are resistant to corrosion and do not need any extra coatings to keep them that way. Natural magnets are weaker than ceramic magnets. Iron oxide and strontium carbonate are calcined to create metallic oxide using ceramic magnets. Ceramic magnets are incredibly strong, and if dropped on a hard surface, they may break or suffer other damage.

Market Dynamics:

Driver:

Increasing demand for ceramic magnets in the automotive industry and aerospace industry

One of the largest end customers of ceramic magnets is the automobile industry, as these magnets are extensively used in many different applications, including motors, sensors, and generators. The need for ceramic magnets in the automotive industry is anticipated to rise along with the popularity of electric vehicles. Another significant end-user of ceramic magnets is the aircraft sector, which employs these magnets in a variety of actuator, sensor, and generator applications. Ceramic magnet demand is anticipated to be driven by the aerospace industry's growing need for lightweight, high-performance materials.

Restraint:

Availability of alternatives and environmental concerns

Neodymium magnets are more expensive than ceramic magnets however work better. The expansion of the ceramic magnet market is anticipated to be constrained by the availability of substitutes such neodymium magnets. Moreover, lead and cadmium, two toxic elements found in ceramic magnets, can be hazardous to the environment.

Opportunity:

Rising demand for ceramic magnets in the electrical and electronics industry and in medical devices

Another significant end-user of ceramic magnets is the electrical and electronic sector, where these magnets are utilized in a variety of devices like speakers, motors, and generators. The need for ceramic magnets in the electrical and electronics industry is anticipated to rise along with the popularity of electronic gadgets and appliances. The market for ceramic magnets is anticipated to have tremendous development potential in the medical device sector. Many medical devices, including MRI machines, which are frequently employed in the detection and treatment of numerous disorders, use ceramic magnets.

Threat:

Limited supply of raw materials and hazardous byproducts

Many end-use industries use ceramic magnets, however, the extraction and manufacture of these materials can have hazardous byproducts. They are often taken out of rare earth metals. However, during the projected period, the limited supply of these raw materials will also restrain the expansion of the worldwide ceramic magnets market.

The anisotropic segment is expected to be the largest during the forecast period

Anisotropic segment is expected to hold largest share over the forecast period. The most desired magnet in terms of orientation is an anisotropic ceramic magnet because it offers magnetic force in a certain direction and may be directed in that direction. They are popular and have high coercitivity anisotropic ceramic magnets that dominate in the orientation segment because the arrow's magnetization direction is simple.

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

Automotive segment is expected to have lucrative growth over the forecast period. The market for ceramic magnets is driven by the automotive industry. Since door locking systems, windshield wipers, and electric windows all use ceramic magnets. A magnet is one of a motor's most important parts. Additionally, magnets are often the static component of motors and provide the rejection force needed to produce circular or linear movement. Because of this, the automobile segment is being driven by the above-mentioned primary variables.

Region with largest share:

The Asia Pacific region held the largest share during the period of dominance because the leading nations in the region, such as Japan, China, and South Korea, dominate the ceramic magnet market in the electronic and electrical industries and are extensively used in home appliances and manufacturing centers. As a result, the following nations consume ceramic magnets on a large scale. Furthermore, the automotive industries in China and India are expanding rapidly and are gaining momentum in a wide range of vehicle applications, including motors, wiper motors, mirror adjustments, window motors, door locking systems, and many more.

Region with highest CAGR:

North America is expected to have lucrative growth over the projection period. Ceramic magnets are quite popular for use in common applications due to factors including their reduced cost of production and capacity to endure heat (up to 250 degrees Celsius). Additionally, it is anticipated that these magnets' intrinsic coercivity will increase their resistance to demagnetization by outside magnetic fields. These elements are anticipated to stimulate the US market's expansion in this region.



Key players in the market

Some of the key players in Ceramic Magnet market include Dura Magnetic, Inc. , All Star Magetic LLC, Maruwa Co., Ltd., Adams Magnet Production, Bunting, Hangzhou Permanent Magnet Group, JPMF Guangdong Co. Ltd, Ferroxcube, TDK Corporation, DMEGC, Samwha Electronics, Hitachi Metals Ltd., Alliance LLC, Neo Magnequench, Arnold Magnetic Technologies and Rocell.

Key Developments:

In December 2022, Hitachi Metals is working with manufacturers to develop motors for electric vehicles that use fewer rare earth metals, which are largely obtained from China.

Types Covered:
• Semi-Hard Ferrite
• Soft Ferrite
• Hard Ferrite

Products Covered:
• Varieties
• Ring Magnets
• Disc Magnets
• Block Magnets
• Arc
• Other Products

Orientations Covered:
• Anisotropic
• Isotropic

Applications Covered:
• Consumer Goods
• Power Generation
• Industrial
• Electronics
• Other Applications

End Users Covered:
• Medical
• Energy
• Electrical
• Automotive
• Building & Construction
• 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
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances