The market for magnetic separators is projected to reach US$ 1.3 billion in 2022. Increased use of magnetic separators to eliminate unwanted particles during the metal recycling operations across multiple industries is fueling market demand. The market valuation will increase as a result, reaching US$ 1.7 billion in 2029.
Sales in the global magnetic separator market are anticipated to grow at a CAGR of 3.8% from 2022 to 2029. In 2022, sales of magnetic separators will make up roughly 22.5% of the market in East Asia, predicts Future Market Insights (FMI).
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.
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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.
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.
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.
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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.
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.
Magnetic Separator Market by Category
Product:
- Magnetic Drum Separator
- Magnetic Roller Separator
- Over band/Cross Belt Separator
- Magnetic Pulley Separator
- Coolant Separator
Intensity:
- Low Intensity
- High Intensity
- High Gradient
Material Type:
- Wet Type
- Dry Type
Cleaning Type:
- Self-Cleaning
- Manual Cleaning
End-Use Industry:
- Recycling
- Processing Industries
- Metal & Mineral Mining
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East& Africa
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