Demagnetizers Market Trend, Opportunity, and Forecast Analysis, 2024-2032

Demagnetizers Market Highlights

The global demagnetizers market is expected to cross a value of USD 1155.3 million by the end of 2032. The market was valued at USD 680.3 million in 2023 and is expected to expand at a CAGR of 5.9% between 2024-2032.

• Over the mid-term, the growing demand for consumer electronic products is the primary factor anticipated to drive the global demagnetizers market.
• The high cost of demagnetizers is a major factor to challenge the market growth.
• The Asia Pacific demagnetizers market is projected to dominate the global market.

Demagnetizers Market Outlook

The devices used to remove or reduce residual magnetism in materials or objects is known as demagnetizers. This residual magnetism interferes with the performance or quality of the material or component, leading to issues, such as unwanted attraction or interference with electronic devices.

According to our experts at KD Market Insights, one of the primary factors associated with the growth of the global demagnetizers market is the growing demand for consumer electronic products worldwide. Our researchers predict that the revenue generated from the sales of consumer electronics would touch near to USD 1500 billion by 2032, by growing with a CAGR of around 7.5% during the forecast period. Several consumer electronic products generate unwanted magnetic fields, which indirectly hampers the functioning of the consumer electronic product. By using demagnetizers, the generated magnetic effect in the consumer electronic product is automatically cancelled. Laboratorio Elettrofisico, WALMAG MAGNETICS, and Brockhaus are some of the significant parties in the global market for demagnetizers.

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Demagnetizers Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global demagnetizers market are:

• Expanding Manufacturing Industry: The manufacturing output around the globe in the year 2022 stood at about USD 16000 billion, representing an increase of about 0.6% from the previous year. With the growing demand for different end-use products, the manufacturing industry, which majorly includes, automotive, electronics, aerospace, and machinery, is expanding at a rapid pace. As these industries utilize magnetic materials in their products and processes, the need for effective demagnetization solutions is also expected to increase, thereby raising the demand for demagnetizers.
• Growing Advancements in Material Science: Researchers around the world are increasingly working upon advancing in the field of material science and technology by developing new magnetic materials that possesses enhanced properties. These materials, when used in different end-use purposes, often require precise demagnetization processes so as to eliminate residual magnetism in the end-use product. Owing to such a factor, the demand for demagnetizers that are capable of handling a wide range of materials and geometries is increasing, which in turn, is expected to contribute to the market growth during the forecast period.

Which Probable Factors Could Hamper the Growing Demagnetizers Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of demagnetizers are:

• Limited Knowledge of Demagnetization: There has been several instances where the end-users are unaware about the benefits associated with demagnetization and how it ensures product quality and reliability. Such a factor is therefore projected to restrict the market growth.
• High Cost of Demagnetizers: The cost of demagnetizers and associated equipment are usually very high and hence, the adoption of these products among small and medium-sized enterprises (SMEs) may be hampered, thereby limiting the growth of the market.

How is the Global Demagnetizers Market Segmented?

Our experts at KD Market Insights have segmented the global demagnetizers market as:

What are the Probable Factors Influencing the Asia Pacific Demagnetizers Market Forecast?

The Asia Pacific demagnetizers market is majorly driven by rapid industrialization, economic growth, urbanization, and increasing investments in the manufacturing sectors, which in turn, is raising industrial activities, and thus, driving the demand for demagnetizers in the manufactured components. On the other hand, the region is known to be a hub for automotive manufacturing and electronics production where demagnetizers are used widely to ensure the quality and performance of critical components in automobiles, electronic devices, and appliances. Moreover, the increasing focus of the manufacturers in the region on enhancing product quality, safety and compliance with international standards, supported by stringent quality assurance measures developed by the regulatory bodies in the region, are also expected to contribute to the market growth in the region.

As per our analysts at KD Market Insights, the following five players lead the Asia Pacific demagnetizers market growth:

• Sarda Magnets Group
• Eclipse Magnetics
• Walmag Magnetics
• Selter Magnetics
• Magnattack Global

Which Key Players Top the Global Demagnetizers Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global demagnetizers market facilitates our readers in identifying their closest competitors. the manufacturers who are associated with demagnetizers market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global demagnetizers market share:

• Laboratorio Elettrofisico
• WALMAG MAGNETICS
• Brockhaus
• Bussi Demagnetizing Systems
• Kanetec
• Magnetek
• Bunting Magnetics Co.
• Master Magnetics, Inc.
• Sarda Magnets Group
• Eclipse Magnetics
• Selter Magnetics
• Mag-Mate
• Ohio Magnetics
• Industrial Magnetics, Inc.
• Magnaflux
• Walker Magnetics Group

What are the Recent Developments Observed in the Demagnetizers Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global demagnetizers market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, Sarda Magnets Group stated that it would expand its presence in the Asia Pacific region by establishing new manufacturing facilities and distribution centers in China, India, and other Southeast Asian countries.

Further, Eclipse Magnetics stated that it has launched its latest line of demagnetizers that offers improved efficiency, reliability, and flexibility.