Ferrite Market - Forecast(2021 - 2026)

Ferrite Market size is forecast to reach around $5 billion by 2025, after growing at a CAGR of 5% during 2020-2025. Ferrite is a ceramic material that consist of magnetic properties and formed by mixing iron oxides with one or more metallic elements such as barium, manganese, nickel, and zinc. Growing demand for consumer electronics such as computers and smartphones is a major growth factor for ferrite market size during the forecast period. Flourishing aerospace and defense industries with strong demand of ferrite for antennas and radar systems is also boosting the growth of the market. Continuous advancement in artificial intelligence and voice recognition technology also aid the growth of the ferrite market share. 

Report Coverage 

The report: “Ferrite Market – Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Ferrite Market. 
By Type: Hard Ferrite and Soft Ferrite.
By Structure: Spinel Structure (Normal Spinel Ferrite, Inverse Spinel Ferrite, and Random Spinel Ferrite), Cubic Garnet Structure, and Hexagonal Structure.
By Application:  Inductors (Low-Noise Amplifiers, EMI Filters, Voltage-Controlled Oscillators, and Impedance Matching Networks), High-Frequency Applications (Radar Systems, Circulators, Isolators, Phase Shifters, Antennas, and Others), Power Applications (Transformers, Motors, Generator, and Others), Memory Devices, and Others.
By End-Use Industry: Consumer Electronics, Aerospace & Defense, Automotive, Power, Telecommunications, Medical, and Others.
By Geography: North America, South America, Europe, APAC, and RoW.


Key Takeaways

  • Growing trend of self-driving vehicles are driving the demand for radar and other communication systems, which further augments the growth of ferrite market.
  • Ferrite also serves as a contrast medium for the medical X-Ray diagnosis and magnetic resonance imaging (MRI). This also aid to the growth of this market.
  • The Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme of Indian Government to make India as an Electronics Manufacturing Hub also drives the growth of the ferrite market.

Ferrite Market Segment Analysis - By Type

Owing to low coercivity and good magnetizing properties, soft ferrite segment holds the largest share of more than 60% in the ferrite market in 2019. Though saturation magnetic flux density of soft ferrite material is lower than other soft magnetic materials, the high electric resistance and outstanding magnetic properties of soft ferrite materials further drive the market growth. Soft ferrite is used in the electronics industry to make ferrite cores for inductors and transformers, and in various microwave components. According to International Trade Centre, imported value of electric transformer, static converter such as inductor and rectifier was valued $ 95,020,267 in 2017 and reached $ 102,498,347 in 2019, significantly fueled the growth of the ferrite market.


Ferrite Market Segment Analysis - By Structure

Based on the structure, hexagonal segment holds the largest share of more than 30% in the ferrite market in 2019. Hexagonal ferrites are magnetic iron oxides with a hexagonal structure and are formed by iron, oxygen, and other elements such as barium, strontium, cobalt, or a combination of these. Hexagonal ferrites or hexaferrites are widely used in fridge magnets, electric motors, and loudspeakers. Demand for hexagonal ferrites are growing because of their room temperature multiferroic properties. The use of hexaferrites in various technologies such as highly sensitive magnetic field sensors, improved data storage solutions for IT and computing, and field-responsive smart filters drives the growth of the ferrite market. 

Ferrite Market Segment Analysis - By Application

High frequency application segment holds the largest share of more than 25% in the ferrite market in 2019. Surging demand of magnetic materials for high-frequency applications such as telecommunications, phase shifters, and radar systems is escalating the growth of the market. Ferrites are non-conducting oxides which allow total penetration of electromagnetic fields, in contrast with metals, where the skin effect limits the penetration of high-frequency fields. Furthermore, phase shifters are also an important application of ferrite which are widely used in phase array antennas and aids the growth of the ferrite market.

Ferrite Market Segment Analysis - By End-Use Industry

Consumer electronics segment holds the largest share of more than 30% in the ferrite market in 2019. Rising popularity of streaming services along with 5G connectivity and artificial intelligence (AI)-enabled devices is boosting the demand for consumer electronics.  In January 2020, Consumer Technology Association CTA predicted the U.S. consumer technology retail revenue would be $422 billion, a 4% year-over-year (YOY) growth compared to 2019. Furthermore, according to the International Data Corporation, global shipments of desktops, notebooks, and workstations, grew by 11.2% year over year reaching a total of 72.3 million units, in second quarter of 2020. Thus, the flourishing electronic segment further raises the demand for ferrite.


Ferrite Marke Segment Analysis - Geography

Due to rapid industrialization and urbanization, Asia Pacific dominated the ferrite market with a share of 40% in 2019 followed by North America and Europe. High standard of living and rise in disposable income has boosted the demand for electronic equipment. According to National Investment Promotion and Facilitation Agency, India’s share in global electronics manufacturing has grown from 1.3% in 2012 to 3.0% in 2018 and anticipated to reach $400 Bn by 2025. Furthermore, the increasing demand for economic and security issues across the emerging countries have increased the need for RADAR systems especially in aerospace and defense industries drive the market growth. As, now-a-days, the Aircrafts are equipped with radar devices to detect the obstacles in or approaching their path. For instance, Boeing forecasted a 6.2% growth in the China’s aircraft demand to 7,690 planes for the period to 2037, subsequently augmenting the demand of ferrite for antenna and radar systems.

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Location: United States

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