According to the latest market research study by Technavio, the global MSE market is expected to grow at a CAGR of close to 3% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global MSE market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application
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The top three revenue contributing application segments are discussed below:
Mining and aggregates: Mining mineral processing comprises the most extensive application of magnetic separators, and their demand is reliant on the prosperity of the mining industry. At present, the mining industry is experiencing submissive demand due to factors such as the continuous fall in commodity prices, the surplus in the supply of minerals like iron ore and copper, along with China’s slow economic growth.
“The aggregates sector is a bright spot for the market with the rapid increase in construction activities in countries such as the US and India. The demand for construction aggregates is expected to post an impressive CAGR during the forecast period, which will positively impact the demand for magnetic separators in the segment,” says Anju Ajaykumar, a lead analyst at Technavio for research on unit operations.
Light Industries: Light industries such as the food and beverage, ceramics, glass, chemical, and pharmaceutical industries represent one of the fastest growing applications of MSE in the market. The increasing use of magnetic separator machine in the food and beverage and pharmaceutical industries is likely to contribute significantly to the growth of the market during the forecast period.
Recycling, water, and wastewater: The recycling, water, and wastewater segment is expected to post the fastest growth in the market during the forecast period. Magnetic separators are being increasingly used in scrap yards, and metal, plastic, and rubber recycling plants. Several magnetic suppliers in the market such as Goudsmit Magnetics Group and Eclipse Magnetics are developing separators for recycling applications to cater to the increasing demand for recycling activities.
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The top vendors operating in the global magnetic separation equipment market are:
- Dings Magnetic Group
- Eclipse Magnetics
- Eriez Manufacturing
- Metso
The other prominent vendors in the market include ANDRITZ, Bakker Magnetics, BGRIMM-MAT, BLS Magnet, Buhler Group, Bunting Magnetics, FLSmidth, Goudsmit Magnetics, IPES International, Master Magnets, Multotec, Outotec, STEINERT, and ThyssenKrupp.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Magnetic Separation Equipment Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Magnetic Materials Market 2017-2021
- Global Magnetic Field Sensor Market 2016-2020
- Global Magnetic Stirrer Market 2016-2020
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