Northrook, IL -- (SBWIRE) -- 05/24/2020 -- The global magnetic separator market is expected to grow from USD 725 million in 2020 to USD 928 million by 2025, at a CAGR of 5.1%. The increase in recycling rates across the world is one of the key factors driving the growth of the market. The expansion and urbanization in developing countries, along with the stringent rules and regulations pertaining to quality in the food & beverage industry, are among the other factors driving the market growth.

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Equipment type to dominate global magnetic separator market during forecast period

Equipment type magnetic separators are expected to hold a majority of the global magnetic separator market share in 2020, and the segment is projected to dominate the market during the forecast period. Magnetic separator equipment include drums, overband, rollers, and eddy current separators. Increasing demand from industries such as mining, recycling, ceramics, paper, and plastics is expected to propel the demand for equipment type magnetic separators during the forecast period. Overband magnetic separators are ideal for removing high volumes of iron particles from materials and are expected to grow at the fastest rate as their demand in the recycling and mining industries is increasing.

Automatic cleaning type magnetic separator to dominate magnetic separator market by 2025

Automatic cleaning type of magnetic separators, also known as self-cleaning type of magnetic separators, have been in huge demand in recent times as they help reduce or avoid the manpower required to clean magnetic separators. As the need for any manual activity is eliminated in self-cleaning magnetic separators, they can be installed in a fully automatic production line, thereby increasing the efficiency of the production process. The advantage of these separators is that safety is high as the metal contaminants are removed automatically. These factors are expected to drive the market for automatic cleaning type of magnetic separators during the forecast period.

Food & beverage industry to grow at highest CAGR during 2020–2025

The food & beverage industry is regulated by the Food and Drug Administration (FDA) in the US and the European Food Safety Authority (EFSA) in Europe. These authorities have framed stringent rules and regulations pertaining to the production of food products in the food & beverage industry along with the equipment used in the facilities. Hence, magnetic separators are vital in the food & beverage industry as they help in removing ferrous contaminants from food products, which, if consumed, can adversely affect health. Owing to the rise in food consumption, attributed to the growing population, along with framing of new rules and regulations by food authorities (such as Food Safety Modernization Act) to enhance the quality of products, the demand for magnetic separators from the food & beverage industry is expected to grow significantly during the forecast period.

APAC expected to dominate magnetic separator market during forecast period

APAC is likely to continue to lead the global magnetic separator market during 2020–2025. Rising demand for medicines, hygienic food products, and beverages, as well as government initiatives to increase the recycling rates in the region, are expected to propel the demand for magnetic separators in APAC.

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Key Market Players
Major companies in the magnetic separator market are 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).

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