Bonded Magnet Market Set to Surpass USD 4,150.99 Million by 2034 Driven by Growing Demand for Compact Electronic Devices | Future Market Insights, Inc. [Yahoo! Finance]
TDK CORP S/ADR (TTDKY)
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Source: Yahoo! Finance
Ferrite bonded magnets was a high-value product segment of the global bonded magnet market in 2023. This trend is expected to continue during the forecast period. NEWARK, Del, July 31, 2024 (GLOBE NEWSWIRE) -- The bonded magnet market size is projected to be around USD 2,597.40 million in 2024. The demand for bonded magnets is anticipated to expand at a CAGR of 4.80% through 2034. The industry is projected to surpass USD 4,150.99 million by 2034. The bonded magnet industry is primarily driven by the increasing demand for miniaturization and lightweight components in various applications such as automotive, consumer electronics, and medical devices. The rising focus on sustainability and environmental concerns has propelled the adoption of bonded magnets, which are manufactured using environmentally friendly processes and materials. One of the latest trends in the bonded magnet industry is the development of hybrid magnet systems combining bonded magnets with other materials like p
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