Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Arc Ferrite Magnet Market size was over USD 9.34 billion in 2024 and is set to cross USD 21.18 billion by the end of 2037, witnessing more than 6.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of arc ferrite magnet is estimated at USD 9.83 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.
.webp)
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 |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.5% |
|
Base Year Market Size (2024) |
USD 9.34 billion |
|
Forecast Year Market Size (2037) |
USD 21.18 billion |
|
Regional Scope |
|
Arc Ferrite Magnet Segmentation
Type (Isotropic, Anisotropic)
The anisotropic segment is estimated to gain the largest market share of 60% in the year 2037. 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 2037. 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 |
|
|
End User |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportArc 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 2037. 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.
Companies Dominating the Arc Ferrite Magnet Landscape
- 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
- 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: Rajrani Baghel
- Report ID: 5248
- Published Date: Oct 22, 2024
- Report Format: PDF, PPT
