DA Technology-Korisen, Full-Scale Preparation for Mass Production of ‘Mn-Bi Ferrite Magnets’

DA Technology has completed the production of prototypes for non-rare-earth permanent magnets and is accelerating preparations for mass production.

Opening ceremony of the 'Mn-Bi Ferrite' factory attended by employees of DA Technology and Corisen. / Photo by DA Technology

DA Technology announced on the 22nd that it held an opening ceremony for the 'Manganese-Bismuth (Mn-Bi) Ferrite Permanent Magnet' factory at Korisen's second plant in Hwaseong, Gyeonggi Province.

As DA Technology has begun establishing the Mn-Bi ferrite production line, it is expected to intensify the mass production of customized prototypes for each customer. The production line, built within the headquarters' secondary battery factory, will introduce about 10 pieces of equipment capable of producing non-rare-earth permanent magnets, including various grinders, sintering equipment, and molding machines. The production process will be fully automated, with equipment installation planned to be completed by the second half of next year. Once completed, a single line will be able to produce approximately 1,000 tons of Mn-Bi ferrite annually.

DA Technology plans to initially target fields where ferrite permanent magnets can be rapidly applied, ranging from large home appliances such as refrigerators, washing machines, and air conditioners to small appliances like hair dryers. Although Tesla's 'rare-earth zero' declaration and domestic and international automakers' moves toward 'rare-earth-free' electric vehicles are underway, the practical opening of a rare-earth-free electric vehicle era remains uncertain.

The ferrite market, gaining attention as a rare-earth substitute, is expected to more than double by 2032. According to market analysis firm FMI, the ferrite market size is projected to grow from $3.9 billion (approximately 5.23 trillion KRW) in 2020 to $7 billion (approximately 9.4 trillion KRW) in 2032, with an average annual growth rate of 5.2%. In particular, the development of artificial intelligence (AI) and voice recognition technologies is driving a surge in ferrite demand across consumer electronics such as computers and smartphones, as well as various industrial sectors.

DA Technology and Korisen's Mn-Bi ferrite, being a high-performance new material permanent magnet, is expected to replace existing ferrite magnets in various industrial fields.

A company representative explained, "The global ferrite market, which previously relied on demand from electric acoustic products, is expanding its usage range to other industries such as electronics and home appliances. Additionally, as demand for ferrite increases in the automotive industry, military, and defense applications, the ferrite market is expected to grow rapidly."

They added, "Since DA Technology has entered full-scale mass production of Mn-Bi ferrite together with Korisen, we plan to pursue supply negotiations with various companies."

This content was produced with the assistance of AI translation services.