China declared largest producer and consumer of ferrite magnets

LONDON, May 15, 2017 /PRNewswire/ -- Ferrite magnets currently represent the most widely used permanent magnets across the globe.

The major raw materials used to manufacture ferrite magnets are relatively inexpensive compared to most other types of permanent magnets. This enables them to be perfectly suited for high volume production runs. These magnets are also termed as ceramic magnets due to their excellent electrical insulation ability. Ferrite magnets are superb in damp, wet or marine environments and exhibit high resistance to demagnetization and corrosion.

Here are some key findings of the study:

• Ferrite permanent magnets exist in two forms - Strontium Ferrite magnets and Barium Ferrite Magnets.
• The Strontium Ferrite magnets are the most commonly manufactured due to having stronger magnetic properties.
• Ferrite magnets can be found in almost all industries - Automotive, Sensor, Machines, Aerospace, Military, Advertising, Electrical/Electronic, Academic, Design House, etc. They are, however, extremely popular in motors, generators, loudspeakers and marine designs.
• China currently represents both the largest producer and consumer of ferrite magnets.
• China's cheap labor and abundance of raw materials has made it a favorable destination for manufacturers of magnets as well as their end users such as manufacturers of electric transformers, inductors and industrial/electronic goods. Other major markets for ferrite magnets include the United States, Japan, India, etc.
• The study ranges from macro overview of the market to micro details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc.

This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have or plan to have any kind of stake in the ferrite magnet industry.

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