Eddy Current Separators Market Size, Share, Growth, And Industry Analysis By Type (Concentric Rotor Eddy Current Separators, Eccentric Rotor Eddy Current Separators), By Application (Municipal Waste Processing, Industrial Recycling, C&D Reclaim, Other) and Regional Forecast to 2027

Updated On: 29 April 2024

Report Overview

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The global eddy current separators market size was USD 81 million in 2020. As per our research, the market is expected to reach USD 114.6 million by 2027, exhibiting a CAGR of 5.1% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

An eddy current separators is a device that uses the principle of electromagnetic induction to separate non-ferrous metals from a mixture of materials. The importance of eddy current separators lies in their ability to effectively remove small pieces of light metal from the material stream without damaging the surrounding material.

The major driver of market revenue growth is the increased use of the product in various end-use sectors, including but not limited to the pharmaceutical, automotive, electrical and electronics industries. In these fields, magnets are used in a variety of applications, from microphones to electric motors in cars. It is currently used at a high level in the medical field; For example, magnetic resonance imaging (MRI) uses strong magnets and radio waves to detect various problems in the body. Behind the growth of the market is the increase in demand from the oil and gas, chemical, construction and electricity industries in different parts of the world. In addition, increased awareness of environmental protection has increased the use of stream separators in water and wastewater treatment plants.

COVID-19 Impact: COVID-19 Pandemic Disorder Market Growth Due To Reduced Supply Chain

The pandemic has disrupted global supply chains and affected the production and marketing of current flow separators. Restrictions on international trade, factory shutdowns and transportation disruptions have caused bottlenecks in the supply chain, delaying equipment shipments and lengthening lead times. Due to the economic uncertainty caused by the pandemic, market demand fell. Many industries, such as automotive, aerospace and manufacturing, have experienced production slowdowns or shutdowns, leading to weaker demand. These separators are used for scrap metal recycling and other applications. During the pandemic, the focus of waste management has shifted to the treatment and disposal of medical waste, including personal protective equipment. Therefore, the demand for vortex separators, especially those used for the recovery of non-ferrous metals, has decreased, while the need for other waste-handling equipment has increased.

Latest Trends

"Rising Industrial Growth That Has Led To The Expansion Of The Market"

The market is expected to grow during the forecast period due to factors such as industrial growth that has led to the expansion of the mining industry, which in turn has created the demand for magnetic separators. Additionally, the magnetic separator market is expected to grow due to good prospects in other end-use sectors such as food and disposal. The growth of the magnetic separators market is also accelerated by the globalization and urbanization of developing countries are the factors which drive eddy current separators market growth during upcoming years.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into concentric rotor eddy current separators, eccentric rotor eddy current separators.

Concentric Rotor Eddy Current Separators is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into municipal waste processing, industrial recycling, C&D reclaim, other.

Municipal Waste Processing will be dominating segment.

Driving Factors

"Increasing Use in the Power And Energy Sector to Augment The Market Growth"

Globally, countries are witnessing a significant increase in the use of renewable energy sources. In addition, increased investments in energy-efficient power generation are due to the increase in demand for electricity. In particular, permanent magnets play a critical role in the efficient operation of devices in various applications, including  power generation, transportation, air conditioning, and telecommunications. Vortex separators play a vital role in recycling processes because they effectively separate non-ferrous metals from recycled materials, enabling their reuse and reducing the demand for new natural resources.

"Increasing Demand for Efficient Growth Of Metal Separation Market "

Current flow separators are widely used in industry, e.g recycling, mining and waste management to separate non-ferrous metals from waste streams. The growing need for efficient metal extraction and utilization of different sources drives market demand. Governments and environmental agencies establish strict waste management and recycling practices to reduce environmental pollution and promote sustainable management of natural resources. Vortico separators provide an efficient solution for the separation and recovery of valuable non-ferrous metals from waste, supporting compliance with these regulations. With the increasing scarcity of natural resources and the need to reduce dependence on mining, more and more efforts are being made to conserve and recycle resources.

Restraining Factor

"High Cost and Lack Of Awareness To Limit The Market Growth "

Vortex separators can be expensive to purchase and install. The large initial investment required to purchase these systems may deter some potential buyers, especially small and medium-sized businesses with limited budgets. Many industries and companies may not be fully aware of the benefits and applications of today's separators. Limited understanding of the technology and its potential value in waste management or recycling processes may hinder eddy current separators market.

Regional Insights

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"Asia Pacific to Dominate The Market Due To Increasing Demand for the Product"

Asia Pacific is projected to be the fastest growing regional eddy current separators market share with a CAGR of 2022-2030. The growth is due to increasing demand for eddy current separators in countries such as China and India as a result of rapid industrialization and urbanization, which has led to an increase in energy consumption. In addition, an increase in construction activity due to population growth is expected to augment product demand during the forecast period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. Key industry players in the antacid tablet market have a significant impact on market dynamics. These companies are at the forefront of research and development, consistently introducing innovative formulations and product variations. Their focus on convenience and effectiveness sets industry standards and influences market growth.

List of Market Players Profiled

• STEINERT (Germany)
• Wendt Corporation (U.S.)
• LONGi (China)
• Eriez Manufacturing (U.S.)
• Bunting Magnetics (Master Magnets) (U.K.)
• Wagner Magnete (Germany)
• Kelihua (China)
• Nippon Magnetics (U.S.)
• Bulk Handling Systems
• Multotec (South Africa)
• IFE Aufbereitungstechnik (Austria)
• Bakker Magnetics (Netherlands)
• Dings Company Magnetic Group (U.S.)
• Goudsmit Magnetics (Netherlands)
• Industrial Magnetics (U.S.)
• Walker Magnetics (U.S.)

Report Coverage

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.