According to Reed Intelligence the Global Hot-Pressed Magnet Market Size will approximately grow at a CAGR of 8.2% during the forecast period.
Hot-pressed magnets are radially oriented NdFeB rings. The orientation of these magnets is achieved through a process called Backward Extrusion, which involves mechanically pressing the Rare Earth powers. Pressed magnets are created by bonding thermoplastic binders with permanent magnet powders, such as ferrite, neodymium, and samarium cobalt. These magnets can be categorized into isotropic magnets and anisotropic full-density magnets.
The magnetic properties of hot-pressed magnets are significantly higher compared to traditionally bonded magnets due to the inclusion of neodymium sintering. These magnets possess exceptional heat resistance, allowing them to endure temperatures of approximately 180 C during operation. Hot-pressed magnets are specifically designed for small-sized, high L/D ratio and thin-walled radially oriented ring magnets. They offer advantages over traditional sintered magnets in these applications.
Hot-pressed magnets are an excellent choice for industries that require smaller, more powerful, and more efficient magnetic solutions. This is because they possess a high-energy product and an isotropic nature. Hot-pressed magnets are powerful and compact magnets. So, they are widely used in electric motors, promoting the widespread adoption of electric vehicles. They are also used in various consumer electronics, aerospace, etc. Advancements in manufacturing processes can significantly improve the performance and cost-effectiveness of hot-pressed magnets.
The cost of producing magnets can be influenced by supply constraints and price fluctuations of rare earth elements, such as neodymium, which are used in their production. Hot-pressed magnets are highly sensitive to high temperatures and can lose their magnetism if they are exposed to temperatures that go beyond their Curie temperature. These are some factors which can be a barrier for Hot-Pressed Magnet Market.
Wind energy, also known as wind power, is harnessed through a wind turbine. This device effectively captures the force of the wind and converts it into electricity. The turbine blades, which are connected to a rotor, are moved by the wind. The rotor spins a generator, which in turn generates electricity. Smaller wind turbines are commonly utilized for various applications, including battery charging and powering remote devices like traffic warning signs.
Larger turbines have the potential to contribute to the domestic power supply by generating electricity. There has been a huge increase in wind turbines since the earlier century. The expansion of renewable energy relies on wind turbines and generators, which greatly benefit from using hot-pressed magnets due to their high magnetic strength, which can create a big opportunity for Hot-Pressed Magnet Market growth.
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Hot-Pressed Isotropic Neodymium Iron Boron (NdFeB) magnets are renowned for their remarkable strength and magnetic properties, form a crucial segment in the hot-pressed magnet market. They belong to the category of permanent magnets. Neodymium magnets, which are a type of rare-earth magnet, are extensively utilized in various industries because of their strong magnetic properties and compact size.
Hot extrusion is a manufacturing process that involves shaping a material by forcing it through a die at high temperatures. Anisotropic Neodymium Iron Boron (NdFeB) magnets are a distinct type of permanent magnet produced through a specialized manufacturing technique called hot extrusion. This process enables the production of anisotropic magnets, which indicates that these magnets possess a preferred direction of magnetization.
Hot-pressed NdFeB magnets are used in various applications of satellites and spacecraft. Hot-pressed magnets can be used in different ways to improve the functionality and accuracy of instruments in spacecraft and aircraft, such as scientific instruments, communication tools, and imaging devices.
In the hot-pressed magnet market, NdFeB magnets have made a significant impact, mainly catering to modern electric motors and generators. They are essential in many applications, including robots, electric cars, and renewable energy systems, where their strong magnetic fields allow for compact design and excellent efficiency. This magnet market category is driven by the need for innovative technology and environmentally friendly energy options.
An MRI scan, short for magnetic resonance imaging, is a medical test that utilizes a powerful magnet, radio waves, and a computer to generate detailed and precise images of the internal structures within your body. Healthcare providers utilize MRIs to assess, diagnose, and monitor various medical conditions.
Powerful magnets are utilized in MRI machines for medical diagnostics. Hot-pressed NdFeB magnets are capable of generating powerful and reliable magnetic fields, making them an excellent choice for producing high-quality imaging. Hence, many healthcare equipment-making companies demand hot-pressed magnets leading to a Hot-Pressed Magnet Market share rise.
Europe has many spaceship agencies for which they require good quality magnets. Hot-pressed magnets improve the functionality and accuracy of instruments in spacecraft and aircraft, such as scientific instruments, communication tools, and imaging devices.
Accurate and sensitive sensors are frequently necessary for aerospace applications. Hot-pressed magnets have a wide range of applications, including their use in magnetometer systems for navigation and orientation, as well as in various other sensing devices. All these factors are influencing Hot-Pressed Magnet Market to grow in the Europe region.
Magnets play a crucial role in research facilities and particle accelerators by enabling the control and precise focusing of particle beams. Using high-strength hot-pressed NdFeB magnets can enhance the precision and performance of these systems.
Hot-pressed NdFeB magnets have the potential to be utilized in cutting-edge energy storage systems that operate based on magnetic principles, like flywheel energy storage. Flywheel energy storage (FES) is a highly efficient technology used to store electric energy. It accomplishes this by continuously spinning a disk or rotor, converting the energy into kinetic energy. This increasing need for storing electric energy increases the demand for hot-pressed magnets in Asia-Pacific.
South America has many wind farms with more than 200 wind turbines in countries like Brazil. In recent years, wind turbines have become more extensive, with taller hub heights, broader diameters, and larger wind turbine blades. Hot-pressed magnets play a crucial role in various energy-related applications, such as wind turbines, generators, and other systems that promote the expansion of renewable energy sources. The constant need for hot-pressed magnets in the wind power industry drives the hot-pressed magnet market in this region.
Hot-pressed magnets have a wide range of applications in electronics, particularly in devices like speakers, headphones, microphones, magnetic sensors, and electric motors. These magnets are utilized in both consumer devices and industrial equipment. With the increasing advancement of technology, the demand for electronic devices is rising, leading to the growth of the hot-pressed magnet market in this region.
4 Jan 2023: TDK Corporation has recently announced its agreement to acquire Qeexo, Co., a venture-backed company based in the United States. Qeexo, Co. is a spin-off of Carnegie Mellon University and specializes in automating end-to-end machine learning for edge devices. By leveraging Qeexos expertise alongside TDK's leadership positions in sensors, batteries, and other crucial components, they can develop comprehensive system-level solutions catering to various applications and industries.