The global bonded magnets market is anticipated to register a robust CAGR of 7.0% during the eight year study period. The market is likely to be valued at US$ 2.50 Bn at the end of the forecast period, up from US$ 1.37 Bn in 2015.
Albany, NY -- (SBWIRE) -- 09/18/2017 -- The global bonded magnets market is anticipated to grab novel opportunities after the arrival of additive manufacturing. There are numerous industries such as medical, automotive, consumer electronics, power generation, electrical appliances and electronics that prefer the use of bonded magnets in several processes. "Bonded Magnets Market: Global Industry Analysis and Forecast (2017-2025)" is a new report that has been added to the database of Market Research Reports Search Engine. According to this research report, the global bonded magnets market is anticipated to register a robust CAGR of 7.0% during the eight year study period. The market is likely to be valued at US$ 2.50 Bn at the end of the forecast period, up from US$ 1.37 Bn in 2015.
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Global Bonded Magnet Market: Regional Analysis
In terms of volume, the maximum demand for bonded magnets in the global bonded magnets market was witnessed in the Asia Pacific region in the year 2016. China exclusively contributed to a large part of this demand for bonded magnets in the global bonded magnets market, keeping the region of Asia Pacific in great stead. China has a rich store of rare earth metals, for example, neodymium, dysprosium, and samarium and the country is also a producer of more than 80% of rare earth agents.
Other Asian countries such as South Korea and Japan are also top contenders in the global market demand for bonded magnets owing to the fact that these two countries have a large number of manufacturing plants of semiconductor products and chips, hard disks and other devices of storage that require bonded magnets. The Asia Pacific bonded magnet market is largely fragmented and one of the important reasons behind this is that a large number of small scale manufacturers are involved in the production of bonded magnets in the region. A large number of bonded magnets are produced and exported by Asia Pacific owing to the high availability of raw materials and cheap labor in the region along with the proliferation of developed technologies and good availability of rare earth metals.
Hybrid Magnet Expected to be the Most Profitable Product Type in the Global Bonded Magnet Market
The global bonded magnet market is segmented on the basis of product type, process type, application type and region. The product type segment includes rare earth magnets that are further segmented into Isotropic and Anisotropic, Ferrite (sub-segmented into plastic ferrite and rubber ferrite and the hybrid segment). The process segment includes calendaring, injection molding, extrusion and compression. The application segment includes automotive, electrical & electronics, industrial and others (medical, power generation etc.) Monetarily accessible bonded magnets with ferrite are widely utilized across the globe.
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Global Bonded Magnet Market: Key Players
The companies presently functioning in the global bonded magnets market include Arnold Magnetic Technologies, Viona Magnetics, Allstar Magnetics, Neo Magnequench, and Alliance LLC.
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