QYResearch: The global market for Ferrite Magnets will reach about 1105 K Tonne by 2022

QYResearch

Ferrite magnets is a type of ceramic compound composed of iron (III) oxide (FeO) combined chemically with one or more additional metallic elements. They are both electrically nonconductive and ferrimagnetic, meaning they can be magnetized or attracted to a magnet.They are used to make magnets, for devices such as refrigerator magnets, loudspeakers and small electric motors. Soft ferrites have low coercivity.

According to QYResearch, The global market for Ferrite Magnets is expected to reach about 3783 Million USD by 2022 from 3573 Million USD in 2016, registering a Compounded Annual Growth Rate (CAGR) of 0.95% during the analysis period, 2016-2022. The global market for Ferrite Magnets is expected to reach about 1105 K Tonne by 2022 from 1024 K Tonne in 2016, registering a Compounded Annual Growth Rate (CAGR) of 1.27% during the analysis period, 2016-2022.

At present, in developed countries, the Ferrite Magnets industry is generally at a more advanced level. The world's large enterprises are mainly concentrated in Japan and China. Meanwhile, foreign companies have more advanced equipment, strong R & D capability, and leading technical level. However, foreign companies’ manufacturing cost is relatively higher, compared with Chinese companies. With the development of Chinese Ferrite Magnets production technology, their share in the international market is increasing, and competitiveness in the international market gradually increases.

China’s Ferrite Magnets industry has developed into a national wide status with certain research and production capacity, industry product mix has gradually improved, currently. China has become a large international consumption country of Ferrite Magnets, but the production technology is relatively laggard to produce some low-end product. Although the new production lines are increasing, and the high-end product is still relying on import.

With the rapid growth of the national economy as well as the rapid development of downstream industries, consumer electronics product keep stable growth in china, the automobile electronics is also growing in the downturn global economy situation. Chinese Ferrite Cores market demand is exuberant, which provide a good opportunity for the development of Ferrite Cores market and technology.

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