Global Injection Molded Magnets Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Injection Molded Magnets Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Injection molded magnets are magnets produced by mixing magnetic powder, resin (PA6, PA12, PPS, etc.), additives and other materials with a special injection molding machine by injection molding. Injection molded magnets are essentially fully dense magnetic powders blended with a variety of polymer base materials. Depending on the combination of magnetic material and polymer selected, a wide range of final material properties are possible. Injection molded magnets can be formed from very simple shapes to very complex shapes. Depending on the magnetic material, the parts may require magnetic orientation during the injection molding process to optimize the magnetic properties.

Market Overview:

The latest research study on the global Injection Molded Magnets market finds that the global Injection Molded Magnets market reached a value of USD 499.83 million in 2022. It’s expected that the market will achieve USD 618.85 million by 2028, exhibiting a CAGR of 3.62% during the forecast period.

Market Drivers and Opportunities

The powerful functions and benefits of injection molded magnets drive consumption, which is beneficial to the development of the industry. One of the more important developments in magnetic materials is polymer-bonded magnets. This has opened a new world of application opportunities. The processing temperatures employed to blend and mold the material mixture are low enough to allow many different magnet powders to be used alone or in combination in the polymer binder to achieve an unprecedented range of properties. Injection molded magnets are being used to design complex shapes and can be inserted molded directly onto other components to manufacture assembly parts. Injection molded magnets can be of very simple shapes or very complex. All or only part of the device may be magnetized. It is sometimes cost advantageous to make an entire part out of the magnet material and just magnetize the portion requiring magnetic output. Injection molding allows for the production of intricately shaped magnets with extremely tight tolerances (up to .01mm) and a wide variety of physical and magnetic characteristics, depending on the type of magnetic material and binder utilized. Exceptional tensile strength provides high impact and rotational force resistance – and they have excellent chemical resistant properties as well. Moreover, injection molding is an ideal process for applications that require high levels of precision, highly complex shapes, and insert or over-molding. By utilizing injection molding, many identical components can be created in a short amount of time, making injection molding appealing for high-volume production. All these factors drive the demand of injection molded magnets, which is beneficial to the market growth.

Market Trends

Injection molded magnets are used in large quantities by different technical applications. Their success can be explained by their high diversity of possible field distributions, their complicated shapes, their easy combinability with other mechanical parts and by their economic way of manufacturing. Injection molded magnets are produced for magnetic sensors, electrical machines, magnetic couplings, magnetic brakes and many other applications. The ever-increasing consumer electronics sector is creating incremental opportunities for manufacturers in the injection molded magnets market. These small magnets are heading toward the trend of miniaturization, high performance, and complicated shapes. In order to achieve this, manufacturers are using binders such as polyphenylene sulfide (PPS), owing to their advantages of easy molding and processing. They are increasing their R&D muscle to incorporate high-temperature resistance in injection molded magnets.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

Max Baermann GmbH is one of the major players operating in the Injection Molded Magnets market, holding a share of 3.35% in 2023.

Segmentation Overview:

As for product types, the Magnetic Material: Ferrite segment held the largest market share in 2022.

Application Overview:

By application, the Motors segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Injection Molded Magnets market covered in Chapter 3:

MMC Magnetics
Mingjie Magnets
Hangseng(Ningbo) Magnetech Co.,Ltd.
Teslam Co., Ltd.
Hengdian Group DMEGC Magnetics Co., Ltd
ARNOLD
SDM Magnetics
Max Baermann GmbH
Garnet S.r.l.
BOMATEC
Zhongshan Shengci Technology Co., Ltd.
Maglastic

In Chapter 4 and Chapter 14.2, on the basis of types, the Injection Molded Magnets market from 2018 to 2029 is primarily split into:

Magnetic Material: Ferrite
Magnetic Material: NdFeB
Magnetic Material: SmCo
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Injection Molded Magnets market from 2018 to 2029 covers:

Motors
Sensors
Injection Molded Rotor Assemblies
Insert Molded Magnetic Components
Overmolded Magnetic Components
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)