DUBLIN--(BUSINESS WIRE)--The "Magnetic Separator Market by Type (Drum, Overband, Roller, Pulleys, Plates, Grates, and Bars), Magnet Type (Permanent Magnets, Electromagnets), Material Type, Cleaning Type, Industry (Mining, Recycling, Food & Beverages) & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The magnetic separator market was valued at USD 685 million in 2019, and is expected to grow at a CAGR of 5.1% from 2020 to 2025 to reach USD 928 million, by 2025.
One of the major driving factors for the magnetic separator market is the increase in recycling rates across the world. Also, due to the stringent rules and regulations pertaining to quality in the food & beverages industry, the demand for magnetic separators is increasing.
Expansion and urbanization in developing countries are also driving the growth of the magnetic separator market. However, the manufacturing of low-quality magnetic separators in developing countries restrains the market growth.
Eriez Magnetics (US), Metso Oyj (Finland), STEINERT GmbH (Germany), Nippon Magnetics (Japan), Goudsmit Magnetics (The Netherlands), Bunting Magnetics (US), Eclipse Magnetics (UK), Industrial Magnetics (US), K.W. Supply Magneetsystemen (The Netherlands), and Multotec Pty Ltd. (South Africa) are among the few key players in the magnetic separator market.
Based on standalone magnet type, magnetic separator market for magnetic pulleys to grow at highest CAGR during forecast period
The magnetic separator market for magnetic pulleys is expected to grow at the highest CAGR during the forecast period. Magnetic pulleys are used as head pulleys for conveyor belts. These pulleys can be built into an existing conveyor belt system as a head. With the increase in the application areas of magnetic separators, companies are developing new ways to use magnetic pulleys for efficient separation in industries such as mining and recycling. This is expected to increase the demand for magnetic pulleys during the forecast period.
Based on industry, recycling industry to hold significant share from 2020 to 2025
Magnetic separators are used for various processes in the recycling industry, such as glass recycling, scrap material recycling, PET flakes recycling, plastic recycling, rubber recycling, municipal solid waste recycling, and e-waste recycling. Owing to an increase in the waste produced by countries across the world, the need for recycling is ever increasing.
The recycling industry is picking up in countries such as the US and Canada, as China has implemented the National Sword Policy, which puts restrictions on the waste being imported by the country. These developments are expected to provide stimulus to the recycling industry across the world and propel the demand for magnetic separators.
Market in APAC to grow at significant CAGR during forecast period
The magnetic separator market in APAC is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the significantly growing mining industry in the region, led by China. China is the world's largest producer of coal, gold, iron ore, and most rare earth minerals. It is also the world's leading consumer of most mining products. This has provided a major boost to the mining industry in the country and the overall APAC region.
Also, South Korea stands third in the list of countries having the best recycling rates, only behind Germany and Austria. According to a 2019 report by the European Environmental Agency (EEA), the country recycles ~54% of its municipal and household waste. The South Korean government is aiming to increase this recycling rate further, which is expected to propel the demand for magnetic separators in the recycling industry.
- Expansion and Urbanization in Developing Countries
- Stringent Rules and Regulations Pertaining to Quality in the Food & Beverages Industry
- Increasing Recycling Rates Across the World
- Manufacturing of Low-Quality Magnetic Separators in Developing Countries
- Advancements in Magnetic Separation Technology
- Increasing use of Superconducting Magnets in Magnetic Separators
- Safety Concerns Related to use of Magnetic Separators
Value Chain Analysis
- Nippon Magnetics
- GouDSMit Magnetics
- Bunting Magnetics
- Eclipse Magnetics
- Industrial Magnetics
- K.W. Supply Magneetsystemen
- Innovative Magnetic Technologies
- Jupiter Magnetics
- Longi Magnet
- Magnetic Products
- Malvern Engineering
- Permanent Magnets
- Shandong Huate Magnet Technology
- Slon Magnetic Separator
- Weifang Guote Mining Equipment
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