Arc Ferrite Magnet Market Size & Share, by Type (Isotropic, Anisotropic); End-user (Automotive, Electronics, Medical) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5248
  • Published Date: Sep 19, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Arc Ferrite Magnet Market size is anticipated to reach USD 21 billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of arc ferrite magnet was over USD 10 billion. Arc ferrite magnets offer several advantages, including affordability, good magnetic stability, resistance to corrosion, and high-temperature resistance. The market for arc ferrite magnets is influenced by global economic trends, technological advancements, and shifts in manufacturing and production.

Manufacturers often provide customized solutions to meet specific customer requirements in terms of size, shape, and magnetic properties. Arc ferrite magnets, also known as ferrite arc magnets or ceramic arc magnets, are permanent magnets made from ferrite, a type of ceramic compound composed of iron oxide and other materials. These magnets have been used in various applications for many years due to their cost-effectiveness and strong magnetic properties. Some common applications include electric motors, speakers, magnetic separators, and magnetic resonance imaging (MRI) machines.


Arc Ferrite Magnet Market (1)
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Arc Ferrite Magnet Sector: Growth Drivers and Challenges

Growth Drivers

  • Electrification of Transportation (EVs): The global electric vehicle sales are projected to reach an estimated value of USD 802 billion by the year 2027. As the world shifts towards cleaner and more sustainable transportation options, arc ferrite magnets are integral components in electric vehicle (EV) motors. They are known for their cost-effectiveness and reliability, making them a preferred choice for EV manufacturers.
  • Cost-Effectiveness and Environmental Compliance: Arc ferrite magnets are competitively priced compared to rare-earth magnets, making them an attractive option for cost-conscious industries while complying with environmental regulations. In an era where sustainability and cost-efficiency are paramount, arc ferrite magnets strike a balance by offering both eco-friendliness and affordability.
  • Advancement in Medical Equipment: High-strength arc ferrite magnets are indispensable in medical equipment like magnetic resonance imaging (MRI) machines. As healthcare technology advances, so does the need for these magnets in life-saving applications.

Challenges

  • Competition from Rare-Earth Magnets: Arc ferrite magnets face stiff competition from rare-earth magnets, particularly neodymium-based magnets, which offer higher magnetic strength in smaller sizes. In applications where size and magnetic strength are critical factors, arc ferrite magnets may lose market share to rare-earth magnets.
  • Supply Chain Vulnerabilities in the Arc Ferrite Magnet Market
  • Environmental Regulations regarding Arc Ferrite Magnet

Arc Ferrite Magnet Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~7%

Base Year Market Size (2023)

~ USD 10 Billion

Forecast Year Market Size (2036)

~ USD 21 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Arc Ferrite Magnet Segmentation

Type (Isotropic, Anisotropic)

The anisotropic segment is estimated to gain the largest market share of 60% in the year 2036. Anisotropic arc ferrite magnets play a crucial role in electric vehicle (EV) motors, benefiting from the ongoing trend towards automotive electrification. Their ability to provide precise magnetization direction enhances motor efficiency and performance, aligning with the demand for cleaner and more energy-efficient transportation solutions.

End User (Automotive, Electronics, Medical)

The automotive segment is expected to garner a significant share in the year 2036. The surge in electric vehicle adoption is a primary driver for the automotive segment. Arc ferrite magnets are vital components in EV motors, known for their ability to provide cost-effective, reliable, and efficient magnetic solutions. Hybrid vehicles, which combine internal combustion engines with electric motors, rely on arc ferrite magnets for their electric powertrains. As automakers expand their hybrid vehicle offerings, the demand for these magnets increases. Hybrid vehicle sales are expected to grow by around 5% from 2021 to the year 2026.

Our in-depth analysis of the global market includes the following segments:

           Type

  • Isotropic
  • Anisotropic

           End User

  • Automotive
  • Electronics
  • Medical

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Arc Ferrite Magnet Industry – Regional Synopsis

APAC Market Forecast

The arc ferrite magnet market in the Asia Pacific region is projected to hold the largest market share of 38% by the end of 2036. Favorable government policies and incentives encourage the adoption of technologies that use arc ferrite magnets, such as EVs and renewable energy systems. Governments in APAC countries are implementing policies to promote clean energy, electric mobility, and technology advancement. Arc ferrite magnets play a role in various infrastructure applications, including transportation systems and modern urban development. APAC countries invest heavily in infrastructure development, including railways, transportation systems, and smart cities.

North American Market Statistics

The arc ferrite magnet market in the North America region is projected to hold the second largest share during the forecast period. As North America shifts towards cleaner and sustainable energy sources, arc ferrite magnets are essential components in wind turbines and solar power systems, driving demand for these magnets. The rise of EVs in North America, with a strong focus on reducing emissions, accelerates the demand for arc ferrite magnets used in EV motors and powertrains. The North American electric vehicle market is witnessing rapid growth, with sales expected to exceed 4.5 million units annually by the year 2030.

Research Nester
Arc Ferrite Magnet Market Size
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Companies Dominating the Arc Ferrite Magnet Landscape

top-features-companies
    • Arnold Magnetic Technologies
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Adams Magnetic Products Co.
    • Dexter Magnetic Technologies
    • Vacuumschmelze (VAC)
    • Hitachi Metals Ltd.
    • TDK Corporation
    • Electron Energy Corporation
    • Ningbo Vastsky Magnet Co., Ltd.
    • Magnequench International Inc.
    • MPCO Magnetics

In-the-news

In The News

  • Arnold Magnetic Technologies (AMT), a leading manufacturer of magnetic components, announced that it has entered into a definitive agreement to be acquired by Sumitomo Precision Products Co., Ltd. (SPP), a Japanese precision engineering company. The acquisition is expected to close in the second quarter of 2023.
     
  • Shareholders of Arnold Magnetic Technologies (AMT) have approved the acquisition of the company by Sumitomo Precision Products Co., Ltd. (SPP). The acquisition was expected to close in May 2023.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5248
  • Published Date: Sep 19, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for automotive sector is the major factor driving the market growth.

The market size of arc ferrite magnet is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024-2036.

The major players in the market are Arnold Magnetic Technologies, Adams Magnetic Products Co., Dexter Magnetic Technologies, Vacuumschmelze (VAC), Hitachi Metals Ltd., and others.

The automotive segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Arc Ferrite Magnet Market Report Scope
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