The magnetic separator market was valued at USD 725 million in 2020 and is expected to grow at a CAGR of 5.1% from 2020 to 2025 to reach USD 928 million by 2025. Stringent rules and regulations pertaining to quality in food & beverage industry, and expansion and urbanization in developing countries are the factors driving the growth of the magnetic separator market. Technological advancements in magnetic separation technology and waste management sector along with increasing use of superconducting magnets in magnetic separators are expected to provide growth opportunities to the market players during the forecast period.
Eriez (US), Goudsmit Magnetics (Netherlands), Industrial Magnetics (US), Eclipse Magnetics (UK), Nippon Magnetics (Japan), Metso (Finland), Bunting Magnetics (US), Multotec (South Africa), K.W. Supply Magneetsystemen (Netherlands), STEINERT (Germany), LONGi Magnet (China), Kanetec (Japan), Sollau (Czech Republic), Shandong Huate Magnet Technology (China), Malvern Engineering (South Africa), Jupiter Magnetics (India), Permanent Magnets (India), Magnetic Products (US), Innovative Magnetic Technologies (Canada), and Weifang GUOTE Mining Equipment (China) are the major players in the magnetic separator market.
The magnetic separator market is highly competitive, owing to the presence of several regional and global players. Expansions and product launches are the key strategies adopted by these players to enhance their product portfolios, increase their market share, and expand their presence in the market. Many market players adopted expansions as their primary business strategy. For instance, in February 2019, ARMAC, Inc. (US), the manufacturers’ representative of Eriez, expanded its sales territory for the company to include upstate New York, western Vermont and Berkshire County, Massachusetts. Owing to the addition of these areas, ARMAC, Inc. now represents Eriez throughout New England, except for Connecticut. In September 2019, Goudsmit Magnetics (Netherlands) launched a new version of the automatically cleanable Easy Clean Flow magnet. This magnetic separator is expected to remove metal particles and weakly magnetic stainless steel particles from powders as fine as 30 µm in food, chemical, ceramic, and plastic industries.
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Eriez is among the leaders in the manufacturing and distribution of magnetic separators worldwide. The company has adopted a combination of organic and inorganic growth strategies in the last two years. It has expanded its operations in the US. As a part of its growth strategy, the company concentrates on technological development and promotion for sustained offering of benefits to its customers. It also promotes its products through various conferences and exhibitions. In the last 3 years, the company has adopted expansion as one of the key growth strategies. For instance, in November 2019, the company announced the expansion of its US manufacturing facility to support strategic growth initiatives for repair, testing, and R&D activities. This expansion is expected to grow the company’s repair business, facilitate product development, and provide better testing support for its products. Owing to its high-quality products, the company maintains a strong brand image in the magnetic separator market. The integrated product portfolio of the company also caters to the requirements of various end-use industries, which has helped it to gain a competitive advantage over its peers.
Metso has a strong global presence with operations in various countries in APAC, the Americas, and Europe. The company is a key player in the magnetic separator market and has a strong client base across various verticals ranging from aggregate & mining to mineral processing and others. Strategically, the company has adopted inorganic growth strategies to increase its share in the magnetic separator market. One of the most critical developments has been the merger of Metso Minerals with Outotec (Finland) in July 2019. This acquisition helped the company strengthen its foothold in the mining and mineral processing markets. Moreover, the company has strong R&D capabilities, which, in future, are expected to help develop innovative magnetic separators and gain a competitive advantage.
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
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