Ferrite magnets are dark grey in colour and have an appearance like a pencil lead. They are resistant to corrosion and are known for their good balance of magnetic strength. However, as they are very brittle and susceptible to demagnetisation, they require proper handling and packing to ensure safety. These magnets are currently available in a variety of grades ranging from Grade 1 to Grade 8 depending upon their performance and operational temperature.
Ferrite magnets are extensively used in a number of industries all across the world. As the raw materials used to manufacture these magnets are relatively low-priced in comparison to other types of permanent magnets, ferrite magnets are highly used for high volume applications. According to a new report by Expert Market Research, the global ferrite magnet market reached a volume of 1.2 Million Metric Tons in 2016 and is further expected to reach 1.5 Million Metric Tons by 2024.
Key findings from the report:
Click here for the summary of report: https://www.expertmarketresearch.com/reports/ferrite-magnet-market
Expert Market Research has analysed the global ferrite magnet market according to key application areas, major regions and top players:
Market breakup by Application
Market breakup by Region
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