Bonded Magnet Market – Global Industry Analysis by Product Type, Process, Application, End Use Industry, Region and Forecast (2022-2029)

Bonded Magnet Market size was valued at US$ 2.41 Bn. in 2022. Automotive Application is expected to dominate the post COVID era for Bonded Magnet Market.
Bonded Magnet Market Overview:
A permanent magnetic powder is bonded to a nonmagnetic polymer or rubber matrix in bonded magnets. The binder that holds the magnetic particles in place can generate a flexible or stiff magnet, and the chemical procedure optimises the qualities of permanent magnetic powder. NdFeB, SmCo, Alnico, and other magnetic powders, as well as hybrids made up of two or more magnetic powders, are extensively utilised. Binders are commonly made of nylon, PPS, polyester, Teflon, and other materials. Compared to fully dense rare earth and ferrite magnets, bonded magnets may be fashioned into complicated shapes, have higher dimensional tolerance, work over a wider temperature range, and create less magnetic output per unit volume. Bonded magnet market is expected to register CAGR of approximately 7% during the forecast period.To know about the Research Methodology :- Request Free Sample Report
Bonded Magnet Market Dynamics:
The growing use of bonded magnets in the automotive industry due to its lightweight features is likely to fuel the Bonded Magnet Market's expansion throughout the forecast period. Furthermore, rare-earth high-performance magnets, which are employed in the manufacturing of electric vehicles, wind turbines, electronics, and other similar items, are driving market growth. As a result, as bonded magnets are extensively employed in electronic equipment including as microphones, headphones, speakers, cell phones, printers, and hard drives, the global Bonded Magnet Market is expected to grow. Furthermore, due to their low cost and greater performance over alternatives such as sintered magnets, the market for bonded magnets is predicted to grow. According to International Magnetics Association (IMA), bonded magnets devised of 65% share in HDD and SSD manufacturing in 2022 despite the lockdown restraints owing to availability of the magnets in APAC.

Manufacturers in the bonded magnet market are seeing increased opportunities as the consumer electronics sector grows. Miniaturization, great performance, and intricate designs are all on the horizon for these little magnets. To improve magnetic performance, companies in the bonded magnet market are boosting their efforts to create neodymium iron boron-based permanent magnets utilizing sintering and hot deformation processes. Sintering and heat deformation for complicated-shaped magnets, on the other hand, would increase the manufacturing cost. As a result, manufacturers are adopting the bonding approach to create neodymium iron boron-based permanent magnets with more shape diversity.

Bonded magnets have made tremendous progress in a wide range of industries over the last few decades due to their versatility and cost-effective production technique. Besides, they serve a critical role in computer hardware, particularly data storage devices. The use of bonded magnets is not only important, but it is also growing, particularly in the field of data storage. This can include enterprises and other industry verticals recording and storing secret data on computers. Magnetic data storage, such as hard disc drives (HDDs), is a popular digital storage option. According to recent studies, computer drivers consume roughly 4000 T neodymium (NdFeB) bonded magnets per year.

When compared to traditional solid state drives (SSD), storage devices with bonded magnets provide more benefits, such as increased storage capacity, faster file copy speeds, and improved performance. Researchers from all around the world are focusing on various breakthroughs that enable data storage on magnetic media utilizing laser-activated heat, which is faster and allows for the acquisition of enormous amounts of data - HAMR (Heat Assisted Magnetic Recording).

Computers are becoming more common in practically every area since the dawn of the information era. According to recent estimates, over 912 exabytes of SSD/HDD storage shipped in 2022, including over 800 exabytes of HDD, 89 percent of which contained magnetic spinning platters. The emergence of stronger alternatives, such as the sintered magnet, on the other hand, is one of the reasons most likely to hamper the bonded magnet market's growth in the next years.
Bonded Magnet Market Segment Analysis:
Increasing use of Neodymium Magnet in Automotive sector is adhering the Bonded Magnet Market:

In the automobile industry, bonded neodymium (NdFeB) magnets are increasingly being used, and they have become the preferred material for developing novel magnetic applications. According to FMI, the automobile industry accounts for around a fifth of the entire market value for bonded magnets. Because of the increased demand for and sales of electric vehicles (EVs) in the worldwide automotive industry, neodymium bonded magnets are becoming an essential component of electric motors.

Electric motors and cutting-edge technology are on the cutting edge, and bonded magnets are critical to the future of global industry and transportation. Neodymium bonded magnets act as a stator, providing the necessary rejection power to create a linear or circular motion. In futuristic vehicles and designs, the number of solenoids and electric motors extends far into the double digits. In electric motors, neodymium bonded magnets have a number of advantages over other types of magnets, particularly in high-performance motors or where shrinking size is a critical aspect. Electric motors are anticipated to take over the entire market, as the majority of fresh technologies aim to reduce the overall size of items. Manufacturers are working on a new type of neodymium bonded magnet that uses far less neodymium and is appropriate for use in high-temperature environments.

New Product launches:

• In August 2022, Magnequench International LLC created new bonded magnets with high-temperature ageing characteristics. The magnets are suited for injection moulded and compression moulded automotive applications that require superior ageing characteristics.

• Hitachi is working on NEOMAX, a high-performance NdFeB sintered magnet for improved efficiency and downsizing in wind turbine generators.

• Yunsheng Co., Ltd. is based in Ningbo, China. Ltd. Has created new technology of injection moulding and pressing procedures to create plastic bound magnets. Actuators, stepper motors, and sensors can all benefit from the magnets.

3D Printing is Unlocking New Horizons for the Bonded Magnets Market:

Additive manufacturing, often known as 3D printing, has recently triggered a revolution in material processing technologies. Given the relevance of these materials in a wide range of applications, there has been a surge in interest in printing bonded magnets. Consumer items and industrial equipment both use hard-magnetic components. However, the integration and processability of bonded magnets has stymied the advancement of new-age magnetic technologies that are critical in fields such as renewable energy, robotics, aeronautics, and automotive engineering.

Existing bonded magnet production techniques, such as sintering and injection moulding, face a number of challenges, particularly when producing complicated configurations. 3D printing technology allows for the creation of high-quality composite bonded magnets with arbitrary structures and shapes that are tailored to specific applications. Manufacturers can obtain many thermoplastic–bonded magnetic composites (TBMC) complex designs and adjustable tailored magnetic properties thanks to the great complexity supplied by the 3D printing process. The use of 3DP for magnetic applications represents a step toward on-site flexible creation of complex magnetic devices that would otherwise be impossible using traditional manufacturing processes.
Bonded Magnet Market Regional Insights:
East Asia, notably China and Japan, would account for about 45 percent of the bonded magnets market revenue. The automotive industry, which accounts for almost a quarter of overall revenue in the area market, is experiencing high demand. China is Asia's largest automaker, with around 20.4 million sales in 2022. Japan is the second-largest automaker in Asia. The consumer electronics appliances and electrical equipment categories also play a significant role in the East Asian bonded magnets market. Both of these sectors account for around a third of the regional market's worth. Government efforts such as Make in India are driving the South Asia & Pacific bonded magnets market forward.

Several manufacturing behemoths, like HTC, Siemens, Toshiba, and GE, have established or are in the midst of establishing manufacturing facilities in the region. This is projected to boost demand for bonded magnets throughout South Asia and the Pacific. However, the COVID-19 epidemic is putting a burden on the Asia Pacific (APAC) bonded magnets industry, with double-digit drops in passenger vehicle sales in China, Japan, and South Korea (PV). Furthermore, consumer electronics expenditure in East Asia is expected to fall as a result of retail shop closures and supply chain disruptions.

The objective of the report is to present a comprehensive analysis of the Bonded Magnet market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Bonded Magnet market dynamics, structure by analyzing the market segments and project the Bonded Magnet market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Bonded Magnet market make the report investor’s guide.
Bonded Magnet Market Scope: Inquiry Before Buying



Global Bonded Magnet Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.41 Bn.


Forecast Period 2023 to 2029 CAGR:
7%
Market Size in 2029:
US $ 3.88 Bn.


 Segments Covered:
by Product Type
• Ferrite Magnets
• Rare Earth Magnets
o NdFeB
o SmCo
• Others (Alnico, SmFeN, Hybrids)


by Application
• Sensors
• Level Gauges
• Motors
• Instrument Panels
• Fuel Filters
• HDD (Hard Disk Drives)
• Copier Rotors


by Process
• Calendaring Bonded Magnets
• Injection Molded Bonded Magnets
• Extrusion Bonded Magnets
• Compression Bonded Magnets


by End Use Industry
• Medical Devices
• Cameras
• Consumer Electronic Appliances
• Automotive
• HVAC Equipment



Bonded Magnet Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Bonded Magnet Market, Key Players are:
• Alliance LLC
• Advanced Technology & Materials Co., Ltd.
• Xiamen Yuxiang Magnetic Materials Technology Co. Ltd
• Allstar Magnetics
• Arnold Magnetic Technologies.
• VACUUMSCHMELZE GmbH & Co. KG
• Neo Magnequench
• Stanford Magnets
• Hitachi, Ltd.
• Magnequench International, LLC
• Viona Magnetics.
• DEXTER MAGNETIC TECHNOLOGIES.
• Evitron.
• MS-Schramberg GmbH & Co. KG
• RHEINMAGNET Horst Baermann GmbH.
• Stanford Magnets

FAQ:

1] What segments are covered in the Bonded Magnet Market report?
Ans. The segments covered in the Bonded Magnet Market report are based on Product Type, Application, End Use Industry, and Process

2] Which region is expected to hold the highest share in the Bonded Magnet Market?
Ans. Asia Pacific Region is expected to hold the highest share in the Bonded Magnet Market.

3] What is the market size of the Bonded Magnet Market in 2022?
Ans. The market size of the Bonded Magnet Market in 2022 is US $ 2.41 Bn.

4] Who are the top key players in the Bonded Magnet Market?
Ans. Alliance LLC, Advanced Technology & Materials Co., Ltd., Xiamen Yuxiang Magnetic Materials Technology Co. Ltd, Allstar Magnetics, Arnold Magnetic Technologies., VACUUMSCHMELZE GmbH & Co. KG, Neo Magnequench, Stanford Magnets, Hitachi, Ltd., Magnequench International, LLC , Viona Magnetics. , DEXTER MAGNETIC TECHNOLOGIES, Evitron., MS-Schramberg GmbH & Co. KG, RHEINMAGNET Horst Baermann GmbH., Stanford Magnets

5] What will be the market size of the Bonded Magnet Market in 2029?
Ans. The market size of the Bonded Magnet Market is expected to be 3.88 Bn. By 2029