In 2022, the market for magnetic separators market is anticipated to grow to US$ 1.3 billion. The demand in the market is being driven by an increase in the use of magnetic separators to remove undesirable particles during the metal recycling processes across numerous industries. This will cause the market valuation to rise to US$ 1.7 billion in 2029.
Over the forecast period of 2022-2029, sales in the global magnetic separator market are expected to increase at a CAGR of 3.8%. According to Future Market Insights (FMI), in 2022, sales of magnetic separators will be accounted for by nearly 22.5% of the market in East Asia.
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
- Magnetic Drum Separator
- Magnetic Roller Separator
- Over band/Cross Belt Separator
- Magnetic Pulley Separator
- Coolant Separator
- Low Intensity
- High Intensity
- High Gradient
- Wet Type
- Dry Type
- Manual Cleaning
- Processing Industries
- Metal & Mineral Mining
- North America
- Latin America
- South Asia
- East Asia
- Middle East& Africa
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