Sales in the global magnetic separator market are projected to rise at a CAGR of 3.8% over the forecast period 2022-2029. Future Market Insights (FMI) estimates that East Asia will hold a dominant share in the market, accounting for nearly 22.5% of the total magnetic separators sales in 2022.
Magnetic separators are a type of sorting and separation equipment, mainly used for segregating magnetic and non-magnetic minerals from the aggregate inclusive of the removal of ferrous and metal substances from mined slurry by the use of magnetic pressure.
In addition to this, with rising concern regarding environmental conservation and increasing demand for high purity materials, the market is estimated to expand at a CAGR of 3.8% during the forecast period 2022-2029.
With growing emphasis on recycling minerals, magnetic separators are extensively finding applications throughout metal & mineral mining, metallic, foundry, cement, water & wastewater remedy, and different industries.
Governments in several nations are increasingly mission initiatives to promote using recycled materials for financial benefits, electricity conversion efficiency, and environmental advantages, which in flip, is propelling the demand in the marketplace.
Magnetic separators play a sizeable role in the steel recycling enterprise for amassing metals from waste and processing used metals to develop recycled metals. Therefore, increasing demand for recycled metals throughout the producing region, because of their low value is accelerating the sales of magnetic separators within the marketplace.
Additionally, the production of virgin ores wishes 20 times extra electricity compared to the production of recycled ore. Hence, growing concerns regarding power conservation are anticipated to reinforce the intake of recycled materials, which is predicted to boost sales of magnetic separators over the forecast period.
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.,
