SIC Code 5099-16 - Magnets & Magnetic Devices (Wholesale)

The Magnets & Magnetic Devices (Wholesale) industry involves the distribution of magnets and magnetic devices to various businesses and industries. These products are used in a wide range of applications, including manufacturing, electronics, automotive, and medical industries. Companies in this industry typically purchase products from manufacturers and sell them to retailers or end-users. The industry includes a variety of magnetic products, such as permanent magnets, electromagnets, magnetic assemblies, and magnetic sensors. These products are used for a range of purposes, including magnetic separation, lifting, holding, and sensing. The industry also includes magnetic materials, such as ferrite, neodymium, and samarium cobalt. Companies in this industry must stay up-to-date with the latest advancements in magnetic technology and be able to provide customized solutions to meet the specific needs of their customers. They must also have a strong understanding of the various industries they serve and the applications for which their products are used. Overall, the Magnets & Magnetic Devices (Wholesale) industry plays a critical role in providing businesses with the necessary tools to operate efficiently and effectively in a variety of industries.