What is Global Injection Plastic-bonded Magnets Market?
The Global Injection Plastic-bonded Magnets Market is a vast and dynamic sector that has been gaining significant attention in recent years. These magnets are made by embedding hard ferrite or rare earth magnet powders in a plastic binder, which is then injection molded. This process allows for the creation of complex shapes and sizes, which are not possible with traditional sintered magnets. The market for these magnets is driven by their unique properties such as high magnetic strength, flexibility in design, and cost-effectiveness. They are used in a wide range of applications, from consumer electronics to automotive components, and are expected to see increased demand as technology continues to evolve. The market is also influenced by factors such as advancements in magnet technology, the growing trend of miniaturization, and the increasing demand for efficient and compact products.
Rare Earth Bonded Magnets, Ferrite Bonded Magnets, Hybrid Bonded Magnets in the Global Injection Plastic-bonded Magnets Market:
The Global Injection Plastic-bonded Magnets Market is segmented into Rare Earth Bonded Magnets, Ferrite Bonded Magnets, and Hybrid Bonded Magnets. Rare Earth Bonded Magnets are made from rare earth elements such as neodymium and samarium, and offer high magnetic strength and resistance to demagnetization. They are used in high-performance applications such as electric motors and generators. Ferrite Bonded Magnets, on the other hand, are made from iron oxide and barium or strontium carbonate, and are known for their excellent corrosion resistance and low cost. They are commonly used in applications such as sensors and actuators. Hybrid Bonded Magnets combine the properties of both rare earth and ferrite magnets, and are used in applications where a balance of cost and performance is required.
Automotive, Electrical & Electronics, Home Appliance, Medical & Healthcare Devices, Others in the Global Injection Plastic-bonded Magnets Market:
The Global Injection Plastic-bonded Magnets Market finds extensive usage in various sectors such as Automotive, Electrical & Electronics, Home Appliance, Medical & Healthcare Devices, and Others. In the automotive sector, these magnets are used in components such as electric motors, sensors, and actuators, contributing to the overall performance and efficiency of the vehicle. In the electrical and electronics sector, they are used in devices such as computers, smartphones, and televisions, enhancing their functionality and user experience. In the home appliance sector, these magnets are used in appliances such as refrigerators, washing machines, and air conditioners, improving their efficiency and reliability. In the medical and healthcare devices sector, they are used in equipment such as MRI machines, pacemakers, and hearing aids, contributing to the overall effectiveness and safety of these devices.
Global Injection Plastic-bonded Magnets Market Outlook:
Looking at the market outlook, the Global Injection Plastic-bonded Magnets Market was valued at a significant US$ 394.5 million in 2023. The market is expected to witness a steady growth, reaching an estimated value of US$ 474.1 million by 2030. This growth represents a Compound Annual Growth Rate (CAGR) of 2.7% during the forecast period from 2024 to 2030. This growth can be attributed to the increasing demand for these magnets in various sectors, advancements in magnet technology, and the growing trend of miniaturization.
| Report Metric | Details |
| Report Name | Injection Plastic-bonded Magnets Market |
| Accounted market size in 2023 | US$ 394.5 million |
| Forecasted market size in 2030 | US$ 474.1 million |
| CAGR | 2.7% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | Galaxy Magnets, Zhong Ke San Huan Hi-Tech, Daido Electronics, IMA, Ningbo Yunsheng, Arnold Magnetic Technologies, TDK, MS-Schramberg, DMEGC, Sen Long Corporation, Jiangmen Magsource New Material, AT & M |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
