Horizon Magnetics Business Rise in Year 2020

2020 is a difficult year to most companies due to attack by the unexpected COVID-19. Most companies’ business is declining. However, Horizon Magnetics get a smaller rise than last year thanks to the continual support from our loyal customers.   

Ningbo Horizon Magnetic Technologies Co., Ltd is focusing on the oversea markets and 90% of magnets and magnetic assemblies are exported to Germany, US, France, UK, Ireland, Australia, and East Europe, which has stringent quality requirements. In order to contain the coronavirus spread, many cities in the world are on lockdown for some time, and then their manufacturing are inevitable to be affected. Therefore our business sector for the industrial magnets from foreign customers especially in Europe reduces too much. On the contrary, our business with consumer magnetic products keeps going up dramatically. The main business situation in 2020 is indicated in details as follows:

Main countries with magnet orders going up: US, Germany, France, Australia, Japan, Korea, East Europe, Brazil

Main countries with magnet orders going down: Italy, UK, Thailand, Philippines, Netherland, Belgium, Russia, Spain, Portugal 

Main orders of magnet types going up: shuttering magnet, magnetic chamfer, magnetic recess former, precast concrete magnet, magnet fishing kit, fishing magnet, office magnet, toy magnet, magnetic tool, channel magnet, rubber coated magnet, pot magnet, hook magnet, plastic coated magnet, magnetic name badge, magnetic push pin, magnetic filter rod, permanent lifting magnet, magnetic Neocube

Main orders of magnet types going down: Neodymium magnet, Samarium Cobalt magnet, electric motor magnets, Alnico magnet, Ferrite magnet, Neodymium adhesive magnet

Post time: Feb-25-2021