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Ceramic Magnet Market: Overview

Ceramic magnets, also known as ferrite magnets, are permanent magnets manufactured through a metallurgical process called sintering, which involves heating and compacting (finely pulverized) magnetic powder into the desired shape and size. Ceramic magnets are composed of iron oxide and strontium carbonate. Liquid phase sintering is a preferred process for manufacturing permanent ceramic magnets. Post sintering, these magnets are machined to achieve dimensional accuracy and prepared for application. Ceramic magnets are the most widely used magnets across the globe. These are available in several sizes and exhibit substantial variety in terms of style. They are hard, brittle, and have low coercivity and hence, are excluded from some applications. However, ceramic magnets are extensively accepted and adopted due to their high corrosion and demagnetization resistance, and low price per kg. Ferrite represents more than 75% of world’s magnet consumption (by weight). Several magnetic powders and mixtures, such as iron, cobalt, magnesium, strontium, zinc, and boron, are used to manufacture ceramic magnets.

Ceramic Magnet Market: Drivers & Restraints

Ceramic magnet perform considerably and offer substantial coercivity in applications such as electric motors, generators, alternators, hard disks, and servo motors. Ceramic magnet are revolutionizing energy storage and power generation. Ceramic magnets help increase the efficiency of generator motors, drive motors, and servo motors, thus resulting in significant power savings. Another key advantage of ceramic magnets is these are economical and abundant. Ceramic magnets are cheap and hence, find applications in several products varying from toys to refrigerators. However, magnets made from rare earth elements, such as sintered NdFeB and SmCo, are creating tough competition for ferrite magnets where high coercivity is of utmost importance.

Ceramic Magnet Market: Key Segments

Based on product, the global ceramic magnet market can be segmented into block magnets, disc magnets, ring magnets, and other varieties. Each product of ceramic magnets has specific but multiple applications. Ceramic magnets have extensive use as they offer decent properties and are relatively inexpensive. Based on type, the ceramic magnet market can be divided into hard ferrite, semi-hard ferrite, and soft ferrite. The key factor that classifies ceramic magnet by type is their coercivity. Magnets with high coercivity are termed as hard ferrite. In terms of orientation, the ceramic magnet market can be bifurcated into isotropic and anisotropic. Based on application, the ceramic magnet market can be divided into building & construction, automotive, electrical, electronics, industrial, power generation, consumer goods, and others. Electronics is a significant application closely followed by use in automotive and consumer goods.

Ceramic Magnet Market: Regional Outlook

In terms of region, the global ceramic magnet market can be segregated into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is a major ceramic magnet market, as Japan, China, and South Korea are electronics & electrical appliance manufacturing hubs and hence, these countries consume large amounts of ceramic magnets. Furthermore, automotive industries in India, China, and Japan are growing at a rapid pace. Motors used in automotive applications for window motors, wiper motors, mirror adjustment motors etc make considerable use of ferrite magnets. Europe is the next big ceramic magnet market, primarily due to demand from the region’s immense automotive production. North America also has established consumer goods and automotive industries, leading to significant demand for ceramic magnet market in the region.

Ceramic Magnet Market: Key Players

Prominent players operating in the global ceramic magnet market include Arnold Magnetic Technologies, Neo Magnequench, and Alliance LLC. However, the ceramic magnet market is largely dominated by numerous unorganized manufactures from China. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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Ceramic Magnet Market