The global magnetic separator market is estimated to reach US$ 1.3 Bn in 2022. The increase in the use of magnetic separators to remove unwanted particles during the metal recycling processes across diverse industries is propelling the demand in the market. Driven by this, the market valuation is set to reach US$ 1.7 Bn in 2029.
Over the forecast period of 2022-2029, global magnetic separator market sales 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 nearly 22.5% of the market in East Asia.
Governments in many nations are swiftly introducing policies to promote the use of recycled materials for economic, energy conversion efficiency, and environmental benefits, which is fueling market demand, according to Future Market Insights, which forecasts a comparison and review analysis for the dynamics of the magnetic separator market.
Because they extract metals from waste and refine used metals to produce recycled metals, magnetic separators are crucial in the metal recycling industry.
Sales of magnetic separators totaled US$ 1.3 Bn in 2021, growing at a 2.9% CAGR between 2014 and 2021, as per FMI.
Magnetic separators are a type of sorting and separation equipment, mainly used for segregating magnetic and non-magnetic minerals from the mixture such as the removal of ferrous and metallic materials from mined slurry using a magnetic force.
In the metal recycling industry, magnetic separators are crucial for extracting metals from waste and processing used metals to create recycled metals. Due to the rising demand for recycled metals in the manufacturing industry and their low cost, magnetic separator sales are increasing.
Additionally, 20 times more energy is required to produce virgin ores than recycled ores. Thus, it is anticipated that rising energy conservation concerns will encourage the use of recycled materials, which will increase demand for magnetic separators over the forecast period.
Increasing adoption of magnetic separators is expected to drive the market in the U.K. FMI estimates the Europe magnetic separators market to hold nearly 18.4% of the total market share in 2022.
China is projected to emerge as a highly remunerative market over the assessment period. As per FMI, the East Asia magnetic separators market is projected to hold around 22.5% of the total value share in 2022.
Pulley separators are expected to continue to be very lucrative, growing at a 4% CAGR through 2029, according to FMI. Sales in the sector are being supported by growing applications for preventing metallic contamination throughout the food and beverage industry.
However, according to FMI, the magnetic roller separators market segment is expected to hold a sizable portion of the overall market. The quick development of innovative magnetic roller separators with built-in infrared technologies is anticipated to support the segment’s growth.
Key Players:
- 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.,
