According the business intelligence report titled ‘Global Magnetic separator Market Size, by Product (Magnetic drum separator, magnetic roller separator, Over band/ cross belt separator, magnetic pulley separator and coolant separator), by Intensity (Low intensity, High intensity and high gradient), by Material type (Wet type and dry type), by Cleaning type (self-cleaning and manual cleaning) End-use Industries (Recycling, processing integrity and metal & mineral mining) and Regional Forecasts 2020-2027’, available with Market Study Report, global magnetic separator market was assessed at USD 692.67 million in 2019 and is speculated to reach USD 937.42 million by 2027, recording a y-o-y growth rate of 5.1% throughout.
 

Speedy expansion of mining and metal sectors is a key factor proliferating the global magnetic separator market. According to credible sources, India has vast deposits of minerals and was the third largest producer of coal in 2018 with a production volume of 688.8 million tons. Moreover, India was the second largest crude steel producer worldwide in 2018 and reported an output of 106.5 million tons.
 

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Similarly, as per the United States Geological Survey (USGS), minerals worth USD 84.3 million were extracted from mines in the US in 2018, and this surged to USD 86.3 million in 2019.
 

For the unversed, a magnetic separator is an industrial equipment which creates a powerful magnetic flow by attracting magnetic particles like ferrous minerals and impurities. They are mainly used in the mining and metal sectors to segregate mixtures of minerals from impurities by drowning ferrous minerals with the magnet.
 

The report cites that while rising recycling rates worldwide augment the global magnetic separator industry outlook, production of poor-quality magnetic separators in emerging countries will act as a major restraint.
 

Based on product gamut, worldwide magnetic separator industry is divided into coolant separator, cross belt separator, magnetic drum separator, magnetic roller separator, and magnetic pulley separator. According to type of material, the market is segregated into wet type, and dry type. Moving on to end user spectrum, the marketplace is bifurcated into recycling, processing integrity, and metal & mineral mining.
 

Regionally speaking, North America captured significant portion of global magnetic separator market share in the past year, due to rising recycling rates in the region. Meanwhile, Asia Pacific market is speculated to showcase lucrative growth trends over 2020-2027, owing to growing utilization of superconducting magnets in magnetic separators.
 

Key players influencing global magnetic separator market dynamics are Nippon Magnetics USA Inc., Industrial Magnetics Inc., Innovative Magnetic Technologies Inc., Metso Oyj, K.W. Supply Magneetsystemen B.V., Goudsmit Magnetics Group B.V., Multotec Pty Ltd., Bunting Magnetics Co., and Eclipse Magnetics Ltd.