What is Global Pressed Plastic-bonded Magnets Market?
The Global Pressed Plastic-bonded Magnets Market is a specialized sector that focuses on the production and distribution of magnets that are bonded with plastic through a pressing process. These magnets are unique in their composition, offering a blend of the magnetic properties of traditional magnets with the versatility and durability of plastic materials. The market is a global one, with manufacturers, distributors, and consumers spread across the world. The production process involves pressing a magnetic powder into a plastic binder, which then hardens to form a magnet. This method allows for the creation of magnets in a variety of shapes and sizes, making them suitable for a wide range of applications. The market is driven by the increasing demand for these magnets in various industries, including automotive, electronics, and healthcare, among others.
Rare Earth Bonded Magnets, Ferrite Bonded Magnets, Hybrid Bonded Magnets in the Global Pressed Plastic-bonded Magnets Market:
The Global Pressed Plastic-bonded Magnets Market is segmented into three main types: Rare Earth Bonded Magnets, Ferrite Bonded Magnets, and Hybrid Bonded Magnets. Rare Earth Bonded Magnets are made from rare earth elements, which are known for their strong magnetic properties. These magnets are highly efficient and are commonly used in high-performance applications. Ferrite Bonded Magnets, on the other hand, are made from ferrite materials, which are less powerful but more cost-effective than rare earth materials. These magnets are often used in applications where cost is a significant factor. Hybrid Bonded Magnets are a combination of rare earth and ferrite materials, offering a balance between performance and cost. The choice of magnet type depends on the specific requirements of the application, with each type offering its own set of advantages and disadvantages.
Automotive, Electrical & Electronics, Home Appliance, Medical & Healthcare Devices, Others in the Global Pressed Plastic-bonded Magnets Market:
The Global Pressed Plastic-bonded Magnets Market finds its application in various sectors such as Automotive, Electrical & Electronics, Home Appliance, Medical & Healthcare Devices, and Others. In the automotive industry, these magnets are used in electric motors, sensors, and other components. In the electrical and electronics sector, they are used in devices like computers, televisions, and mobile phones. Home appliances like refrigerators, washing machines, and air conditioners also use these magnets. In the medical and healthcare sector, they are used in MRI machines, surgical equipment, and other devices. The versatility of these magnets makes them suitable for a wide range of applications, contributing to the growth of the market.
Global Pressed Plastic-bonded Magnets Market Outlook:
Looking at the market outlook, the Global Pressed Plastic-bonded Magnets Market was valued at a significant US$ 252.2 million in 2023. The market is expected to witness a steady growth, reaching an estimated value of US$ 303.1 million by 2030. This growth represents a Compound Annual Growth Rate (CAGR) of 2.7% during the forecast period from 2024 to 2030. This steady growth can be attributed to the increasing demand for these magnets in various industries, coupled with advancements in manufacturing technologies. The market is expected to continue its upward trajectory, driven by the growing need for efficient, durable, and versatile magnets.
| Report Metric | Details |
| Report Name | Pressed Plastic-bonded Magnets Market |
| Accounted market size in 2023 | US$ 252.2 million |
| Forecasted market size in 2030 | US$ 303.1 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, Advanced Technology & Materials |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
