Magnetic Separator Market Analysis | 2023-2028

Market Insights

The Magnetic Separator Market was estimated at US$ 730.07 million in 2022 and is expected to grow at a CAGR of 5.2% during 2023-2028 to reach US$ 995.23 million by 2028.

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What is a Magnetic Separator?

A Magnetic Separator is a device that utilizes magnets to remove ferrous or magnetic materials from a mixture. It is commonly used in various industries such as mining, recycling, and manufacturing. The separator employs a magnetic field to attract and separate magnetic particles from non-magnetic ones, ensuring the purity of the final product. This process is crucial for preventing damage to machinery and improving the quality of materials. Magnetic separators come in various types, including drum, overbelt, and suspension separators, each designed for specific applications. They play a vital role in enhancing efficiency, product quality, and equipment longevity across diverse industrial processes.

Market Drivers

The major factors that are contributing to the demand for magnetic separators are mainly the increase in recycling rates across the globe and the expansion and urbanization in developing countries, coupled with the stringent rules and regulations related to quality in the food & beverage industry.

Segments Analysis

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By Type

The magnetic separator market is segmented into magnetic separator equipment and standalone magnetic separators. The equipment type segment held the larger share of the market and is expected to remain dominant during the forecast period. It contains drums, overband, rollers, and eddy current separators. The increasing demand from different industries such as mining, recycling, ceramics, paper, and plastics is driving the growth of this segment. The overband magnetic separators under the equipment segment are expected to grow at the fastest rate during the forecast period, as they are used for removing high volumes of iron particles from materials.

By Magnet Type

The market is segmented into permanent magnets and electromagnets. Permanent magnets held the larger share of the market and are likely to lead the market during the forecast period. They do not require a continuous supply of electrical energy to maintain their magnetic fields, due to which they also work in case of failure of power supply. These are less expensive and lightweight, do not face any electrical contact problems, and are maintenance-free. Further, they offer various advantages such as strong magnetic force, long service life, convenient installation and use, and reliable functioning, which are the growth propellers of the market during the forecast period.

By Cleaning Type

The magnetic separator market is segmented as manual and automatic. The automatic cleaning type segment holds the larger share of the market and is expected to remain dominant during the forecast period. They reduce or avoid the manpower required to clean magnetic separators and increase the efficiency of the production process. They are safer as compared to manual cleaning types as the metal contaminants are removed automatically. These factors are responsible for driving the market for the automatic cleaning type segment during the forecast period.

By Industry Type

The market is segmented into mining, recycling, chemical & pharmaceutical, ceramics, paper, and plastics, food & beverages, glass & textile, and others. The food & beverages industry segment is expected to grow at the highest CAGR during the forecast period. Magnetic separators help in removing ferrous contaminants from food products, which if consumed, can adversely affect health. The demand for magnetic separators from the food & beverage industry is increasing due to a surge in food consumption, attributed to the growing population, along with the framing of new rules and regulations by food authorities (such as the Food Safety Modernization Act) to enhance the quality of products.

Regional Analysis

In terms of regions, Asia-Pacific is estimated to be the largest magnetic separator market during the forecast period, with China being the major country with lucrative growth opportunities. The growth of the region’s market is driven by the increasing demand for medicines, hygienic food products, and beverages, as well as government initiatives to increase the recycling rates, and the increasing number of mining projects in the region, which is generating huge demand for magnetic separators and the presence of a large number of magnetic separator manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

Some of the major magnetic separator manufacturers are-

• Eclipse Magnetics Ltd
• Eriez
• Goudsmit Magnetics
• Industrial Magnetics, Inc.
• Metso Oyj.
• Nippon Magnetics, Inc.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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