Increase in disposable income of consumers in the emerging economies leading to growth in several end user segments also has been a major factor driving growth for the industry.
Valley Cottage, NY -- (SBWIRE) -- 06/08/2018 -- Ferrite is a compound derived from iron oxides and including magnetite and hematite. Ferrite possesses similar characteristics as ceramics and is hard and brittle. Hard ferrite and soft ferrite are the two major product types for ferrite. Soft ferrites generally contain compounds of zinc, nickel or manganese and find applications in electronic applications such as transformers. Hard ferrite consists of compounds of barium, cobalt or strontium. Hard ferrite is used in several consumer electronics such as refrigerators. Soft ferrite dominates the global the market in terms of market share and the trend is expected to continue through 2019.
Growing demand for electronics has been a major factor driving growth for ferrite. Increase in disposable income of consumers in the emerging economies leading to growth in several end user segments also has been a major factor driving growth for the industry. Low cost, high efficiency, easy availability is amongst the major factors driving growth for soft ferrite. Research and development activities to increase application scope of ferrite are expected to offer huge growth opportunity for the market.
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Asia Pacific dominates the global ferrite market in terms of consumption and the trend is expected to continue during the forecast period. Demand for ferrite in the region is primarily driven by the emerging economies of India and China. Other major markets for ferrite include North America, Western Europe and Japan. These developed economies are expected to grow at a sluggish rate mainly owing to saturation of end user segments. Growing demand for ferrite in nuclear energy segment is expected to offer huge growth opportunity in the market. Africa and Latin America are expected to drive the market growth in the RoW segment.
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Major players in the ferrite market include Ferroxcube, TDK Corporation, Amidon Inc., Laird Technologies, Honeywell MetGlas, TAK TECHNOLOGY Co., Ltd. and Ferronics Inc. among others. This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.
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