Global Bonded Magnet
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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• The Global Bonded Magnet market size in 2023 was XX Million. The bonded Magnet Industry's compound annual growth rate (CAGR) will be XX% from 2024 to 2031.
• An increase in the usage of Elective vehicles led to the growth of the Bonded Magnet Market and Bonded Magnet are highly used in Renewable Energy which drives the market for expansion
• The limitations put in place by various governments to halt the COVID-19 virus's spread during the pandemic have had a significant negative impact on the manufacturing sector
• The automotive industry will require more bonded neodymium magnets for motors as vehicles become more comfortable, energy-efficient, and automated.
• Asia Pacific is the dominating region with the largest share in the Bonded Magnet as the demand for consumer electronics, household appliances, and electric equipment has increased due to the paradigm shift of a growing population living in cities and wanting improved living conditions
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Type |
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Market Split by Application |
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Market Split by Process |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Bonded Magnet industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Bonded Magnet Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The Global Bonded Magnet market size in 2023 was XX Million. The bonded Magnet Industry's compound annual growth rate (CAGR) will be XX% from 2024 to 2031. An adhesive, suitable additives, and magnetic powder combine to form a complex known as a bonding magnet. The average characteristics of each magnetic particle with very little contact determine the magnetic properties of a bond magnet. In the realm of rare earth permanent magnets, bonded magnets have a significant place due to their numerous advantages, including high material utilization, exact size, complicated shape, and good performance consistency. Compact yet more potent magnets are becoming more and more necessary as technology develops to be used in gadgets like cell phones, electric cars, and medical equipment. Bonded magnets, which are crucial parts of these systems, are in high demand due to the growing use of renewable energy technologies like wind turbines and electric generators. To satisfy the expanding demand for bonded magnets across a range of industries, businesses seek to boost production efficiency and lower costs by investing in automation technology and streamlining manufacturing processes. An increase in the usage of Elective vehicles led to the growth of the Bonded Magnet Market and Bonded Magnet are highly used in Renewable Energy which drives the market for expansion. Hence, More economical and effective bonded magnet materials have been developed as a result of technological developments in production processes. Bonded magnets may now be used in more industries because of these advances, which have increased demand for the items.
Bonded magnets are facing major potential as a result of the global migration to electric cars (EVs) and the electrification of transportation infrastructure, especially in the electric motor applications for EV drivetrains. Currently, rare earth neodymium iron boron magnets are thought to be the best magnets for use in electric and hybrid car motors, both in terms of strength and compactness. For Instance, According to PIB, Delhi, Neodymium Iron Boron (Nd-Fe-B) rare earth magnet brushless DC (BLDC) motors are used in over 90% of electric vehicles Researchers have created enhanced heavy rare earth-free high Nd-Fe-B magnets at a reduced cost. These magnets are highly sought after for electric vehicles and have the potential to lower their cost. (Source:http:// https://pib.gov.in/PressReleasePage.aspx?PRID=1885270)The automotive and consumer electronics industries, as well as government endeavors to construct industrial behemoths like HTC, Siemens, Toshiba, and GE establishing or in the process of establishing manufacturing units, are centered in the Asia Pacific region. The future of international industry and transportation depends on bonded magnets, electric motors, and cutting-edge technology. Neodymium-bonded magnets supply the required rejection power to produce a linear or circular motion. Electric motors and solenoids are seen in double-digit numbers in futuristic cars and designs. Neodymium-bonded magnets provide several advantages over other types of magnets in electric motors, especially in high-performance motors or where lowering size is an important factor. Since most new technologies try to make products smaller overall, electric motors are expected to dominate the market.
Due to growing environmental concerns and the pursuit of sustainable energy sources, two ideas that have gained relevance in recent years are magnetism and renewable energy. Combining these two sustainable fields can result in creative and effective ways to meet modern society's energy demands. Clean, renewable energy sources including solar, wind, hydro, and geothermal energy can be combined with magnetism to create power. Renewable energy is defined as energy derived from naturally occurring sources that never run out, providing a substitute for non-renewable energy sources like gas and oil. On the other hand, electromagnetic induction is a method of using magnetism to produce electricity.
The market for bonded magnets is also being driven by the renewable energy sector. Bonded magnets are being used in wind turbines and generators as the globe moves toward renewable energy sources. Because of their increased durability, hardness, and energy efficiency, bonded magnets are beneficial in difficult situations. The rising emphasis on producing renewable energy is anticipated to have a significant positive impact on the market for bonded magnets. For Instance, Magnetic Hold Inc. magnets are used in the wind energy sector for a multitude of purposes. Magnets used in ladder mounting systems and turbine generators are the most common.(Source:https://www.magneticholdcompany.com/wind-energy-industry) Hence, Bonded magnets, which are crucial parts of these systems, are in high demand due to the growing use of renewable energy technologies like wind turbines and electric generators.
There are substitutes like sintered magnets in the magnet market which can be replaced by bonded magnets. The highest magnetic properties (33–51 MGOe) are offered by bonded NdFeB magnets, but sintered NdFeB magnets have lower energy properties and Sintered NdFeB magnets find application in a multitude of applications, such as heavy equipment components, door latches, motors, and generators. Bonded magnets are restricted to small sizes and shapes which causes a drawback. A diamond cutting wheel is used to cut the magnets from a big block that is created during the sintering process. It is feasible to create bonded shapes that are significantly different from those that can be created by a saw. The completed size and shape of the bonded magnet are created. To provide clients with a better magnetic output, bonded magnet manufacturers also use the compression bonding method in addition to injection molding. The trade-off between the two is that injection-molded magnets are more flexible, while compression-bonded magnets have a lower magnetic output and are more constrained in size and shape.
The limitations put in place by various governments to halt the COVID-19 virus's spread during the pandemic have had a significant negative impact on the manufacturing sector. However, as the spread is becoming under control and as vaccination rates are rising, nations like the USA and China are lifting restrictions on their supply chains and manufacturing sectors.The worldwide shutdown imposed in an attempt to stop the spread of COVID-19 caused a decline in the electronics and automobile industries' output and sales. Furthermore, the China Academy of Information and Communications Technology reports that COVID-19 caused production disruptions in 2020, which resulted in a 20.4% reduction in smartphone shipments in China. There won't be as much of a need for Ndfeb magnets which is a type of rare bonded magnet that is utilized in the voice call and micromotors of mobile phones, if the production and sales of electric cars and smartphones decline.(Source:http://(Source:https://telecom.economictimes.indiatimes.com/news/smartphone-shipments-in-china-fell-20-4-in-2020-government-data/80213503) This hindered the expansion of the global bonded magnet market.
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In the bonded magnet market, there is a mix of well-established competitors and up-and-coming newcomers fighting for market share. Prominent corporations exert dominance through their vast array of products and robust market positioning. With their unique bonding methods, material compositions, and application-specific solutions, creative startups are upending the industry and posing a threat to established competitors. The use of bonded magnets as environmentally acceptable substitutes for conventional magnet materials has increased due to the increased focus on sustainability and environmental consciousness. The market for sustainable magnet solutions is anticipated to grow as businesses look to lower their carbon impact and adhere to strict regulations.
• For Instance, The controlling interest in SG Technologies Group Limited one of Europe's top advanced specialty manufacturers of rare-earth-based and other high-performance magnets for industrial and commercial markets, has been agreed to be acquired by Neo Performance Materials Inc. With the purchase, Neo's rare earth processing and magnet manufacturing footprint in Europe is anticipated to grow even further, strategically aligning with the company's goals to begin manufacturing sintered rare earth magnets. (Source:https://www.newswire.ca/news-releases/neo-performance-materials-agrees-to-acquire-leading-european-magnet-manufacturer-800543597.html)
Top Companies Market Share in Bonded Magnet Industry: (In no particular order of Rank)
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In North America, the growth of bonded magnets Is seen to be increasing because of the increase in the use of electronic vehicles and more renewable energy. For Instance, In 2022, the US market for renewable energy was estimated to be worth $269 billion. By 2025, renewable energy is predicted by the International Energy Agency (IEA) to overtake all other sources of electricity worldwide. (Source:https://earth.org/us-renewable-energy-market/#:~:text=The%20US%20renewable%20energy%20market%20in%202022%20was%20valued%20at,of%20global%20electricity%20by%202025.) With various benefits over conventional energy sources, magnetic energy has great potential as a clean, renewable energy source. Because bonded magnets increase durability, hardness, and energy efficiency, bonded magnets are beneficial in difficult situations. Hence, The rising emphasis on producing renewable energy is anticipated to have a significant positive impact on the market for bonded magnets in North America.
The current report Scope analyzes Bonded Magnet Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Bonded Magnet Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Bonded Magnet Industry growth. Bonded Magnet market has been segmented with the help of its Type, Application Process, and others. Bonded Magnet market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The hybrid magnet segment held the most market share, and it is expected to continue to lead the market. The superior magnetic properties of ferrite magnets over rare earth magnets and their relative affordability are major reasons driving the expansion of both areas. Due to the increased applications of hybrid bonded magnets in a variety of industries, such as automotive, industrial machinery, and medical devices, there is an increasing demand for these magnets over the projection period. Hence, The expansion of the automobile industry is the main driver of this demand. High-performance rare-earth magnets are used in the production of electronics, wind turbines, electric cars, and other similar products and Ferrite magnets, sometimes referred to as ceramic magnets, are a kind of permanent magnet composed of the chemical compound ferrite, which is composed of iron oxide and ceramic materials.
• Rare Earth Bonded Magnets
• Ferrite Bonded Magnets
• Hybrid Magnets
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Bonded Magnet Industry. Request a Free Sample PDF!
The dominating segment is the Automative and electronic sectors. Micromotors and sensors found in mid-to-high-end cars are the primary applications for magnets. The automotive industry will require more bonded neodymium magnets for motors as vehicles become more comfortable, energy-efficient, and automated. The adoption of bonded magnets in aerospace applications like actuators, sensors, and avionics systems is being driven by the industry's rising focus on lightweight materials and improved propulsion systems. The aging population and advances in healthcare technology have led to an increase in the use of bonded magnets in wearable health monitors, diagnostic tools, and MRI machines, among other medical devices. Hence it has various applications in a variety of industries.
• Automotive
• Electronics
• Aerospace & Defence
• Medical
• Others
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Bonded Magnet market report 2024 Edition by contacting our team.
The injection-molded category is the dominant portion. This is mostly because this technology can produce large volumes of work at a reasonable cost. The highly automated injection molding process produces magnets faster and more effectively, but it is too economical for businesses to use it as their main option. To guarantee that the magnets continue to function as intended throughout time, this procedure permits an exceptionally high degree of precision and accuracy. For example, if It is used in xerographic injection molded magnetic rollers, the mass fraction of ferrite magnetic powder can attain 90%. The most common glue used nowadays to create injection-molded magnetic rollers is high-temperature and age-resistant nylon resin
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Bonded Magnet Market is witnessing significant growth in the near future.
In 2023, the Rare earth Bonded Magnets segment accounted for noticeable share of global Bonded Magnet Market and is projected to experience significant growth in the near future.
The Automotive Electronics segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Allstar Magnetics, Arnold Magnetic Technologies and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | Rare earth Bonded Magnets, Ferrite, Hybrid |
Application | Automotive Electronics, Aerospace and defence, medical, and others. |
Process | Injection Melded Magnets, Compression Bonded Magnets, Calendaring Bonded Magnets, Extrusion Bonded Magnets |
List of Competitors | Allstar Magnetics, Neo Magnequench, Arnold Magnetic Technologies, Alliance LLC, Viona Magnetics |
This chapter will help you gain GLOBAL Market Analysis of Bonded Magnet. Further deep in this chapter, you will be able to review Global Bonded Magnet Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Bonded Magnet Market Trends North America Bonded Magnet Technological Road Map North America Bonded Magnet Market Drivers North America Bonded Magnet Market Restraints North America Bonded Magnet Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Process Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Bonded Magnet market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Rare earth Bonded Magnets have a significant impact on Bonded Magnet market? |
What are the key factors affecting the Rare earth Bonded Magnets and Ferrite of Bonded Magnet Market? |
What is the CAGR/Growth Rate of Automotive Electronics during the forecast period? |
By type, which segment accounted for largest share of the global Bonded Magnet Market? |
Which region is expected to dominate the global Bonded Magnet Market within the forecast period? |
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