ALBANY, New York, August 16, 2017 /PRNewswire/ --
Transparency Market Research has published a new report titled "Bonded Magnet (Product: Rare earth Bonded Magnet, Ferrite Bonded Magnet, and Hybrid; Process: Calendaring, Extrusion, Injection Molding, and Compression; End-user: Automotive, Electrical & Electronics, Industrial, and Other End-users) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025." According to the report, the global bonded magnet market was valued at US$ 1.37 Bn in 2015 and is projected to reach US$ 2.50 Bn by 2025, expanding at a CAGR of 7.0% between 2017 and 2025.
Bonded magnets are magnets manufactured by combining magnetic powders with polymeric materials such as rubbers, plastics, and elastomers. Several processes are employed for the manufacture of bonded magnets which include injection molding, calendaring, extrusion, and compression bonding. Each process provides a peculiar advantage over other and the use of these processes vary according to the magnetic powder. Several magnetic powders are used for production of bonded magnets namely NdFeB, SmCo, ferrite, and/or combination of all. NdFeB and SmCo belong to the rare earth category which are substantially powerful magnets and are used in applications demanding better magnetic performance.
Primary advantage of bonded magnets over its sintered counterpart is the promising mechanical performance. Bonded magnets are manufactured by injection molding, compression, extrusion, and calendaring processes, all of which provide excellent dimensional tolerances in magnet production. This result in little to no finishing operations, thus asking production cost. Furthermore, bonded magnets can be manufactured in extensively intricate shapes. Which implies to manufacture of finished assemblies, saving assembly costs. Also, sintered magnets are never used as structural members, on the other hand bonded counterparts can be used as structural members in the system completely omitting the need for housing and supports for magnets. These all parameters make bonded magnets economical and pliant in several applications. Another driver for bonded magnets is their ability to be calendared into flexible sheets. These sheets find significant and irreplaceable applications such as refrigerator door seals, magnetic advertising sheets, and reprographic rolls, flexible print plates, sensors, and gaskets.
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In terms of volume and value, electrical and electronics application held a major share of bonded magnets market in 2016. It was followed by automotive segment which was a prominent application; use of bonded magnets in products such as motors, crash sensors, rotational position sensors, tachometers, fuel gauges, ignition magnets, etc. is most common in automotive segment. The increasing use of bonded magnets in electrical and electronics industry is rising substantially. Bonded magnets are often imperative in electrical home appliances such as electric shavers, mixers, grinders, blenders, refrigerators, televisions, etc. as these magnets provide economical advantage over their sintered counterpart.
In terms of volume and value, Asia Pacific accounted for significant share of the bonded magnet market in 2016 and is anticipated to lead the bonded magnet market during the forecast period. However, Europe is anticipated to exhibit a significant growth rate by 2025 due to sturdy automotive and consumer electronics industry in the region. North America also provides remarkable growth opportunities owing to its consumer electronics and automotive industry.
Major companies operating in the bonded magnet market include Arnold Magnetic Technologies, Allstar Magnetics, Alliance LLC, Neo Magnequench, Viona Magnetics, etc.
The report provides comprehensive view of the bonded magnet market in terms of volume and revenue. It includes current demand analysis and forecast for product type, process and, application segments in North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Furthermore, the report offers detailed country-wise analysis of the bonded magnet market in the regions mentioned above.
The bonded magnet market has been divided into the following segments.
Bonded Magnet Market- Product Analysis
- Rare Earth Magnets
- Plastic Ferrite
- Rubber Ferrite
Bonded Magnet Market- Process Analysis
- Injection Molding
Bonded Magnet Market- Application Analysis
- Electrical & Electronics
- Others (Medical, Power Generation etc.)
Bonded Magnet Market- Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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