Dublin, March 20, 2025 (GLOBE NEWSWIRE) — The “Ferrite Magnet Market Report by Application (Electro-Acoustic Products, Electronics Industry, Power Play Tools, Car Line Industry, Calculating Machines, Others), and Region 2025-2033” has been added to ResearchAndMarkets.com’s offering.
The global ferrite magnet market size reached USD 7 billion in 2024. Looking forward, the market is forecast to reach USD 9.3 billion by 2033, exhibiting a growth rate (CAGR) of 2.95% during 2025-2033.
The growing demand for consumer electronics, rising popularity of renewable energy sources to reduce carbon footprint, and increasing adoption of electric vehicles (EVs) to maintain environmental sustainability are some of the major factors propelling the market.
At present, the rising demand for consistency in industrial machinery and equipment is supporting the growth of the market. Besides this, the increasing focus on sustainable technologies, along with the rising need for efficient power generation solutions across the globe, is strengthening the growth of the market. Additionally, the growing demand for ferrite magnets in the healthcare industry to ensure the precision and effectiveness of medical technologies is positively influencing the market.
Apart from this, the increasing adoption of household appliances and gadgets, such as refrigerators, washing machines, microwave ovens, and vacuum cleaners, is providing lucrative growth opportunities to industry investors. Furthermore, the rising number of infrastructure development and construction activities around the world is bolstering the growth of the market. In line with this, the increasing demand for ferrite magnets in door closures, elevator systems, and security mechanisms is propelling the growth of the market.
Ferrite Magnet Industry Segmentation
This report provides an analysis of the key trends in each segment of the global ferrite magnet market report, along with forecasts at the global and country levels for 2025-2033. The report has categorized the market based on application.
Application Insights
The report has provided a detailed breakup and analysis of the market based on the application. This includes electro-acoustic products, electronics industry, power play tools, car line industry, calculating machines, and others. According to the report, electro-acoustic products represented the largest segment.
Regional Insights
The market research report has also provided a comprehensive analysis of all the major regional markets, which include China, Japan, the United States, India, and others. According to the report, China accounted for the largest market share.
China held the biggest market share due to the presence of advanced manufacturing infrastructure and a skilled labor force. In addition, the rising focus on renewable sources of energy is strengthening the growth of the market in the country. Besides this, the growing demand for ferrite magnets in the production of electric vehicles (EVs) is offering a positive market outlook in China. In line with this, the increasing adoption of advanced electronic devices among individuals is supporting the growth of the market in the country.
Competitive Landscape
Key players in the market are investing in research and development (R&D) activities to improve the performance and efficiency of these magnets. These initiatives assist in enhancing magnetic properties, exploring new applications, and optimizing manufacturing processes to maintain a competitive edge in the market.
Moreover, companies are continuously developing new technologies and manufacturing techniques to produce high-quality ferrite magnets. This involves refining processes to achieve better magnetization, reducing energy consumption during production, and ensuring consistent quality across batches.
Apart from this, major manufacturers are expanding their market reach by exploring diverse applications for ferrite magnets. This includes entering emerging sectors, such as renewable energy, medical devices, and smart technologies, where these magnets can play a vital role in performance improvement.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Ningbo Yunsheng Co. Ltd.
- Hangzhou Permanent Magnet Group
- JPMF Guangdong Co. Ltd.
- Ninggang Permanent Magnet Materials Co. Ltd.
- Hitachi Metals
Key Attributes
| Report Attribute | Details |
| No. of Pages | 148 |
| Forecast Period | 2024-2033 |
| Estimated Market Value (USD) in 2024 | $7 Billion |
| Forecasted Market Value (USD) by 2033 | $9.3 Billion |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/k58i9e
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