Europe Ferrite Magnet Market Share 2022-2027: Industry Size, Growth and Forecast
According to the
latest report by IMARC Group, titled, “Europe Ferrite
Magnet Market Share: Industry Trends, Size, Growth, Opportunity and
Forecast 2022-2027 ", The Europe ferrite magnet market is expected to
exhibit a CAGR of 3.47% during 2022-2027.
Ferrite
magnets, commonly referred to as ceramic magnets, are magnets that are produced
using iron oxide and strontium carbonate. They are electrically insulating,
grey-colored materials with high operating temperatures and resistance to
demagnetization. Ferrite magnets are generally available in the form of rings,
cylinders, discs, blocks, etc., and are utilized in headphones, security
systems, door latches, loudspeakers, magnetic suspension systems, computer hard
drives, etc. They exhibit high resistance to corrosion. As a result, ferrite
magnets find widespread applications across various sectors, such as
automotive, telecommunication, electronics, power play, car line,
electro-acoustic, etc.
Market
Trends
The
escalating product demand in the automotive industry for manufacturing several
parts of automobiles and aircraft, including barking systems, windshield
wipers, and seatbelt indicators to provide enhanced passenger safety, is among
the primary factors driving the Europe ferrite magnet. Besides this, the
elevating need for these materials in the medical sector to produce magnetic
resonance imaging (MRI) scanners, dental devices, maxillofacial surgical tools,
etc., is further augmenting the market growth. Apart from this, the growing
popularity of sol-gel processing techniques that aid in manufacturing magnets
with enhanced structural, mechanical, and electrical properties at relatively
low temperatures is also catalyzing the regional market. Furthermore, the
rising product utilization in the production of electro-acoustic commodities
and the introduction of high-quality permanent magnets are expected to propel
the Europe ferrite magnet market in the coming years.
Note: We are regularly tracking the
direct effect of COVID-19 on the market, along with the indirect influence of
associated industries. These observations will be integrated into the report.
Competitive
Landscape:
·
The
competitive landscape of the industry has also been examined along with the
profiles of the key players.
Ask
Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/europe-ferrite-magnet-market
The report has segmented the market based based
on application.
Breakup
by Application:
·
Electro-Acoustic
Products
·
Electronics
Industry
·
Power
Play Tools
·
Car
Line Industry
·
Calculating
Machines
·
Others
Breakup
by Country:
·
Germany
·
France
·
United
Kingdom
·
Italy
·
Spain
·
Others
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