CHICAGO, Feb. 7, 2020 /PRNewswire/ -- According to the research report the "Magnetic Separator Market by Type (Drum, Overband, Roller, Pulleys, Plates, Grates, and Bars), Magnet Type (Permanent Magnets, Electromagnets), Material Type, Cleaning Type, Industry (Mining, Recycling, Food & Beverages) & Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Magnetic Separator Market is expected to grow from USD 725 million in 2020 to USD 928 million by 2025, at a CAGR of 5.1%.
The growing adoption of magnetic separators owing to stringent rules and regulations pertaining to quality in the food & beverage industry has resulted in their increased demand. Other drivers for the magnetic separator market growth include the increasing recycling rates across the world and expansion and urbanization in developing countries.
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Permanent magnets to hold larger share of magnetic separator market during forecast period
Permanent magnet-based magnetic separators are expected to account for the larger share of the magnetic separator market share during 2020–2025. Permanent magnets do not require a continuous supply of electrical energy to maintain their magnetic field. They are less expensive and lightweight; they do not face any electrical contact problems. Hence, even in case of failure of power supply, permanent magnetic separators continue working. Permanent magnetic separators are maintenance-free and offer advantages such as strong magnetic force, long service life, convenient installation and use, and reliable functioning. These factors are expected to propel the demand for permanent magnet-based magnetic separators.
Magnetic separators for dry material to witness higher CAGR in market during forecast period
The magnetic separators market for dry material is expected to grow at a higher CAGR during 2020–2025. These separators are used to remove ferrous contaminants from dry products, such as powders and granules. Stringent government regulations to maintain the quality of food require the adoption of magnetic separators for dry materials in various food applications, such as sugar, grain, tea, flour, and salt processing, which drives the growth of the market. Magnetic separators for dry materials are also finding increasing applications in the recycling industry in auto shredders and E-scrap, and in the plastics industry, which is expected to propel their demand during the forecast period.
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APAC to hold largest share of magnetic separator market during forecast period
APAC is expected to hold the largest share of the magnetic separator market in 2020, and a similar trend is likely to be observed during the forecast period. Countries in APAC have abundant reserves of rare earth minerals. Owing to the increasing number of mining projects in the region, the demand for magnetic separators from the mining industry is projected to increase during the forecast period. Also, the pharmaceutical industry is growing in the region with the increasing number of people being brought under the healthcare umbrella through governmental efforts in various countries. The food & beverage industry is also growing in the region. A few countries, including Japan, have framed various rules and regulations regarding the quality of food products produced in or imported to the country. Owing to such stringent regulations, the demand for magnetic separators from the food & beverage industry in the region is expected to increase in the near future.
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Major players in the magnetic separator market include Eriez (US), Metso (Finland), STEINERT (Germany), Nippon Magnetics (Japan), Goudsmit Magnetics (Netherlands), Industrial Magnetics (US), Eclipse Magnetics (UK), Bunting Magnetics (US), Multotec (South Africa), and KW Supply Magneetsystemen (Netherlands).
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