Magnetic Industry: Taking Strides

What are magnets? According to the Webster Dictionary, a magnet is a body having the property of attracting iron and producing a magnetic field external to itself or a mass of iron, steel or alloy that has this property artificially imparted. Magnets are used for various purposes like magnetic recording tapes, credit and debit cards, television and computers, speakers, microphones, compass toys etc. The greatest contribution of magnets has been in the fields of electronic, chemical, mining, automobile, medical and food processing industries. Magnets were initially manufactured by and used in the West, but as technology increased and developing countries started taking part in the industrial and electronic revolution, the use of magnets spread to all areas of the world, be it Africa or Asia. The increasing population of these areas, meaning increased labour, along with the emerging government policy of various countries combined with low labour costs and big internal markets have made the Asian and African regions on par with the West.

Different types of magnets are now being used for different types of industries. The funnel magnet, a magnet enclosed in a cylinder and consisting of permanent anisotropic magnets like ferrite or rare earth magnets, useful in the removal of iron impurities from any liquid, is used in the ceramic, oil, colours and magnetic industries. Magnets are used in Magnetic Resonance Imaging (MRI scans) in hospitals. In the electronic industry, magnets are used extensively. Magnets help in the working of televisions by scattering electrons towards various parts of the screen. Computer screens work on a similar principle as that of television whereas the storage disks used inside the computers have tiny magnetic fields which help in the storage of data.

Magnets in video tapes work in the same way as the computer storage disks. Magnets are used in speakers and microphones as well to scatter the sound. Mining industry uses magnets for detecting minerals and separating the impurities. Magnets are used extensively in the automobile industry. The major usage of magnets in cars is in the starter motor, interior fan motor, electric door locks, windshield wiper motor, engine speed sensors, cd and audio tape player motor and electric window motor. Some other important electronics and motors in which magnets are used are-dishwasher, refrigerator, furnace, washing machine, ceiling fan, pager or cell phones, ceiling fans and certain clocks. The most highly demanded magnets in the market are ceramic hard ferrites, bonded ferrites and neodymium iron boron magnet.

The magnet industry has gained immense popularity in the market. Magnets are an essential part of any electronic, automobile, chemical and many other major industries. According to the 2005 census, the global market of magnets was around $ 7.6 billion. The market of magnets is expected to grow from $8.1 billion to $11.8 billion, at an average growth rate of 7.8% per year. Maximum growth of the magnet industry is expected in countries like India, China, Russia, Taiwan, Indonesia and Mexico, basically in the developing countries.

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