Fior Markets launched a study titled “Global Ferrite Market by Type (Hard, Soft), Application (Electrical & Electronics, Defence & Aerospace, Healthcare, Others), Regions”,and Global Forecast 2018-2025.
The global ferrite market is expected to grow from USD XX.XX Million in 2017 to USD XX.XX Million by 2025, at a CAGR of X.XX% during the forecast period from 2018-2025. Increasing worldwide emphasis on energy efficiency and reducing transmission and distribution losses as well as increasing global demand for the consumer electronics such as refrigerators, air conditioning devices are factors driving this increase in growth.
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Hard ferrite segment emerged as the global leader with a 58.28% share of market revenue in 2017
Type segment is divided into hard ferrite and soft ferrite. Due to its property for not being easily demagnetised hard ferrite is extensively used in the manufacturing of the magnets for loud speakers, small motors and refrigerators. As a result hard ferrite led the global demand for the ferrite with a 58.28% share of market revenue in 2017. Ferrite cores made from the soft ferrite have found wide ranging applications in the electronics and electrical industry. Soft ferrite cores on account of their application in production the high frequency inductors, transformers and various microwave components is projected to grow at the highest CAGR of X.XX% over the forecast period.
Healthcare segment is anticipated to grow at a CAGR of X.XX% in 2018-2025
Application segmented into electrical and electronics, defence and aerospace, healthcare and others. Increasing use of ferrite cores in electricity transmission and distribution sector as well in manufacturing electrical and electronics devices led electrical and electronics emerge as the leader in global ferrite market with a 68.29% share of revenue in 2017. Aerospace and defence segment is anticipated to grow at a healthy pace over the forecast period. Owing to innovate use of ferrite in drug delivery systems and other such applications, healthcare segment is anticipated to attain the highest CAGR of X.XX% over the forecast period.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Massive ongoing electricity transmission & distribution project in India and growth of the electronics manufacturing industry in China, Taiwan and Japan led Asia Pacific emerge as the largest market for ferrite with a 38.41% share of market revenue in 2017. North America region also contributed a robust demand for ferrite in 2017, owing to its well-developed electronics and electrical industry and nuclear energy sector.
Major players in the global ferrite market are TDK Corporation, Amidon Inc.,FerroxCube, Laird Technologies, Honeywell MetGlas, TAK TECHNOLOGY Co., Ltd. and Ferronics Inc., Micrometals, Magnetics, among others.
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