Albany, NY -- (SBWIRE) -- 10/02/2018 -- 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.

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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.

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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.