Global Bonded Magnets Market to reach USD 2.36 Billion by 2027

Global Bonded Magnets Market is valued approximately at USD 1.80 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.60% over the forecast period 2020-2027. Bonded magnets are magnets produced by combining magnetic powders and polymeric materials such as plastics, rubbers, and elastomers. Injection molding, calendaring, extrusion and compressing bonding are the process opted for the manufacturing of bonded magnets. Various magnetic powders are used for production of bonded magnets called NdFeB, SmCo, ferrite, and/or combination of all. These bonded magnets are gaining larger demand in electronic vehicles due to their magnetic performance and they also help in reducing carbon emission. Thus, rapid growth in production & sale of electric vehicle across the globe is propelling the growth of market over the forecast years. For instance, according to the International Energy Agency (IEA) 2019, the global electric car deployment has been growing rapidly over the past ten years, the global stock of electric passenger vehicle cars was passed by 5 Billion in 2018 with an increase of 63% from 2017. It was found that over 45% of electric cars on China’s road in 2018 that is 2.3 Billion compared to 39% in 2017. Similarly, Europe accounted for 24% of global electric cars and United States with 22% in 2018. In addition, growing demand from aerospace and medical devices sector is the factor propelling the growth of market. However, global spread of Novel coronavirus in the emerging economies such as India, China and south Korea is highly affecting the growth of market over the forecast years.

The regional analysis of the global Bonded Magnets market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing demand for electric vehicle in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as high availability of raw materials especially rare earth material is the factor creating a lucrative opportunity for the growth of the cancer vaccine market in the Asia-Pacific region.

Major market player included in this report are:
Allstar Magnetics
Neo Magnequench
Arnold Magnetic Technologies
Alliance LLC
Viona Magnetics
Stanford Magnets
Xiamen Yuxiang Magnetic Materials
Advanced Technology Materials

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Process Type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Process Type:
Injection Molded Bonded Magnets
Compression Bonded Magnets
Calendaring Bonded Magnets
Extrusion Bonded Magnets

By Product Type:
Rare Earth Magnets
Ferrite Magnets

By End user Industry:
HVAC Equipment
Medical devices
Consumer Electronic Appliances
Electrical Equipment

By Application:
Level Gauges
Instruments Panels
Copier Rotors
Fuel Filters
Magnetic Couplings
Hard Disk Drives

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Bonded Magnets Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers