Yahoo Finance Magnetic Separator Market is set to reach US$ 1.7 Billion by 2029 - Comprehensive Research Report by FMI
Magnetic Separator Market - Analysis, Outlook, Growth, Trends, Forecasts
DUBAI, United Arab Emirates, Jan. 17, 2022 (GLOBE NEWSWIRE) -- The global magnetic separator market is estimated to reach US$ 1.3 Bn in 2022. Increasing use of magnetic separators to remove unwanted particles during the metal recycling processes across diverse industries is propelling the demand in the market. Driven by this, the market valuation is set to reach US$ 1.7 Bn in 2029.
The global Magnetic Separator Market is estimated to witness modest growth in 2019, and reach a market value of around US$ 1,200 million, while registering a Y-o-Y growth rate of nearly 3.0% over that attained in 2018. Additionally, the global sales of magnetic separators are expected to be fuelled by growing mining and several processing industries across the globe. Robust customer demand for magnetic separators from recycling industry, chemical industry, and food and beverages industry is expected to propelling the growth of the magnetic separator market during the forecast period.
Magnetic separator is a type of separation and sorting equipment, mainly used for separating magnetic minerals mixed in non-magnetic minerals such as removal of metallic and ferrous materials from a mixture with the help of magnetic force.
Magnetic separators have significant applications in metal and mineral mining industry, recycling industry, food and beverages processing industry, chemical industry, steel industry, foundry industry, plastic industry, cement industry, water, and wastewater treatment, among others.
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Attribute | Details | |
Magnetic Separator Market Estimated Size in 2022 | US$ 1.3 Bn | |
Magnetic Separator Market Projected Size in 2029 | US$ 1.7 Bn | |
Magnetic Separator Market Historical CAGR (2014-2021) | 2.9% | |
Magnetic Separator Market Value-based CAGR (2022-2029) | 3.8% | |
Oceania Emerging as a High Potential Storehouse of Opportunities
In the past five years, the Oceania region witnessed substantial growth in mineral production. In 2012, the Oceania region accounted for a share of 5.1% in the global mineral production, while in 2017, the Oceania region accounted for a share of more than 7.0%. Increasing mineral production in the region is expected to increase the demand for mineral sorting and separation equipment. Consequently, increasing the demand for magnetic separators.
The rising number of metallic contamination incidents in several food and beverage products have triggered a great demand for enhanced safety. Government authorities have formed several regulations to improve the operational safety and thus, there has been a greater demand for high performance magnetic separators in the food and beverages processing industry.
The East Asia market is expected to dominate the global magnetic separator market, owing to its relatively large consumption for separation and sorting equipment in mining and other industries. North America and Europe magnetic separator markets are expected to experience modest growth, owing to being mature magnetic separator markets.
Countries/regions such as Australia, Japan, India, Brazil, and ASEAN being at the forefront in the mining industry are expected to generate significant opportunities in the global magnetic separator market. Significant growth in demand for magnetic separators is also anticipated to be witnessed in countries of Middle East and Africa, owing to substantial requirement for separation and sorting equipment such as magnetic separators in mining, chemicals, cement, steel, and other industries.
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Scope of the Report
Attribute | Details |
Forecast Period | 2022-2029 |
Historical Data Available for | 2014-2021 |
Market Analysis | US$ Mn for Value |
Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa |
Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
Key Segments Covered | Product, Intensity, Material Type, Cleaning Type, End-use Industry, and Region |
Key Companies Profiled |
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Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
Influx of Application Opportunities in ‘Recycling’ to Favor Demand Growth
On the basis of intensity type, the high gradient segment is foreseen to experience substantial growth in the magnetic separator market. However, owing to its low cost and high demand, the low intensity type magnetic separator segment is expected to account for a prominent volume share in the global magnetic separator market. On the basis of product type, pulley separator sales are expected to witness a growth of approx. 4.0 percent during the forecast period, which is mostly driven by its increasing applications in several industries with the primary intention of preventing metallic contamination.
By material type, dry type magnetic separator is considered more into demand among the customers. The segment is expected to account for more than two third of the total market during the forecast period. By cleaning type, self-cleaning magnetic separator is considered more into demand among customers. The segment is expected to account for more than two third of the total market during the forecast period. On the basis of end-use industry, owing to increasing concern towards recycling of waste, scrap metal, and other materials, the recycling end-use industry segment is expected to project maximum growth during the forecast period.
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Some of the key manufacturers involved in the magnetic separator market are Eriez Manufacturing Co, Nippon Magnetics, Inc., LONGi Magnet Co., Ltd, Metso Corporation, Outotec Oyj, Noritake Co., Limited, A AND A MAGNETICS, INC, SLon Magnetic Separator Ltd., KANETEC CO.,LTD., Shandong Huate Magnet Technology Co., Ltd, Douglas Manufacturing Co., and Inc., among others.
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