What is Global Polymer Bonded Magnet Market?
The Global Polymer Bonded Magnet Market is a vast and dynamic sector that encompasses a wide range of products. These magnets are made by embedding magnetic particles in a polymer matrix, creating a versatile material that can be molded into various shapes and sizes. The market for these magnets is global, with demand stemming from various industries such as automotive, electronics, and healthcare. The versatility and adaptability of polymer bonded magnets make them an ideal choice for many applications, contributing to their growing popularity in the market. The market's value was estimated at US$ 644.8 million in 2023, and it is projected to reach US$ 993.9 million by 2030.
Injection magnet, Pressed magnet in the Global Polymer Bonded Magnet Market:
The Global Polymer Bonded Magnet Market is divided into two main categories: injection magnets and pressed magnets. Injection magnets are produced by injecting a magnetic powder into a mold, while pressed magnets are made by compressing magnetic powder into a desired shape. Each type has its own set of advantages and applications. Injection magnets, for instance, are ideal for complex shapes and designs, while pressed magnets are preferred for their high magnetic performance. Both types play a crucial role in the market, catering to the diverse needs of various industries.
Automobile, Electrical and Electronics, Household appliances, Medical and Healthcare equipment in the Global Polymer Bonded Magnet Market:
The Global Polymer Bonded Magnet Market finds extensive usage in several areas. In the automobile industry, these magnets are used in electric motors, sensors, and actuators. In the electrical and electronics sector, they are used in hard disk drives, speakers, and magnetic resonance imaging (MRI) machines. Household appliances like washing machines, air conditioners, and refrigerators also utilize these magnets. In the medical and healthcare equipment sector, they are used in surgical instruments, dental equipment, and drug delivery systems. The versatility of polymer bonded magnets makes them suitable for a wide range of applications, driving their demand in the market.
Global Polymer Bonded Magnet Market Outlook:
Looking at the market outlook, the Global Polymer Bonded Magnet Market is on a growth trajectory. In 2023, the market was valued at US$ 644.8 million. It is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2030, reaching a projected value of US$ 993.9 million. China is a major player in this market, manufacturing over 40% of the world's polymer bonded magnets. This growth is fueled by the increasing demand for these magnets in various industries, highlighting the market's potential.
| Report Metric | Details |
| Report Name | Polymer Bonded Magnet Market |
| Accounted market size in 2023 | US$ 644.8 million |
| Forecasted market size in 2030 | US$ 993.9 million |
| CAGR | 6.3% |
| 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, Daido Electronics, Magnequench International, IMA, NINGBO YUNSHENG, Arnold Magnetic. Technologies, TDK, MS-Schramberg, Hengdian Group DMEGC Magnetics, Sen Long Corporation, Jiangmen Magsource New Material, Advanced Technology & Materials |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
