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India Ferrite Magnet Market Outlook 2022-2027



IMARC Group’s latest report, titled “India Ferrite Magnet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the India ferrite magnet market size is expected to exhibit a CAGR of 2.62% during 2022-2027. offers a comprehensive analysis of the industry, which comprises insights on the India Ferrite Magnet Market . The report also includes competitor and regional analysis, and contemporary advancements in the market.

A ferrite magnet, or ceramic magnet, is a grey-colored electrically insulating magnet. It is a permanent magnet composed of Barium or Strontium Ferrite and is entirely suitable for higher-volume production. It is made by combining and firing large proportions of iron (III) oxide mixed with small proportions of one or more metallic elements, such as strontium, barium, manganese, nickel, and zinc. It is corrosion-resistant, durable, and has high magnetic permeability. It is used in various applications such as brakes, medical instruments, security systems, motors, and loudspeakers

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India Ferrite Magnet Market Demand:

The market in India is majorly driven by increasing product utilization in electro-acoustic products. In line with this, the rising demand for ferrite magnets in the automotive industry for braking and locking systems is significantly contributing to the market growth. Furthermore, the growing demand for passenger and commercial vehicles is positively influencing the market growth. Apart from this, the product is used as an essential component in various medical devices. Moreover, escalating government initiatives supporting advanced EV charging infrastructure are catalyzing market growth. Besides, rapid advancements in manufacturing technologies and a shift towards sustainable energy generation are propelling market growth. Additionally, the widespread application of magnets in hybrid electric vehicles and increasing demand for better-performing vehicles are offering numerous opportunities for market expansion.

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Key Market Segmentation:

Breakup by Application:

  • lectro-Acoustic Products
  • Electronics Industry
  • Power Play Tools
  • Car Line Industry
  • Calculating Machines
  • Others

Breakup by Region:

  • North India
  • West and Central India
  • South India
  • East India

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players.