
Advanced Magnetic Materials Market- Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032
Description
Market Overview:
The Advanced Magnetic Materials Market was valued at USD 22,405 million in 2024 and is projected to reach USD 46,308 million by 2032, growing at a CAGR of 9.5% during the forecast period (2024–2032).
The demand for advanced magnetic materials is primarily driven by their essential role in energy-efficient technologies, the miniaturization of electronic devices, and the rapid growth of electric vehicles (EVs). Governments around the world are increasing investments in sustainable energy solutions, significantly boosting demand for permanent magnets used in wind turbines and energy storage systems. Additionally, the rise of IoT devices and 5G technology is driving the need for high-performance magnetic components. The defense and aerospace industries are major consumers, utilizing these materials in applications that require precision and durability. The healthcare sector is also increasingly adopting magnetic materials in MRI machines and biomedical devices, further expanding market opportunities. Moreover, ongoing advancements in nanomagnetic materials and soft magnetic composites are expected to improve the performance and efficiency of these materials, opening new avenues for innovation.
Market Drivers:
Expanding Electronics and Telecommunications Industry:
The rapid growth of the electronics and telecommunications sectors is significantly contributing to market growth. Advanced magnetic materials are critical components in electronic devices such as transformers, sensors, inductors, and micro-electromechanical systems (MEMS). The widespread adoption of smart devices, IoT applications, and 5G technology is driving demand for miniaturized, high-performance magnetic components. For example, TDK Corporation is specializing in magnetic products such as ferrite cores and sensors, essential for the electronics industry. As the demand for smaller, more efficient electronic devices increases, manufacturers are focusing on innovations in soft and hard magnetic materials to enhance product performance. Furthermore, advancements in nanomagnetic materials are paving the way for improved efficiency and reliability in next-generation electronic devices.
Market Challenges:
Supply Chain Constraints and Dependency on Rare Earth Elements:
One of the major challenges facing the advanced magnetic materials market is the heavy reliance on rare earth elements, primarily sourced from a limited number of regions, particularly China. Geopolitical tensions, trade restrictions, and supply chain disruptions can result in price fluctuations and limited availability of these critical materials. Manufacturers are under increasing pressure to ensure stable supply chains and explore alternative sources, such as recycling and rare-earth-free magnetic materials. Additionally, the mining and processing of rare earth elements pose environmental and regulatory challenges, further complicating market dynamics. The industry is investing in research and development to create sustainable and cost-effective alternatives to traditional rare-earth-based magnets. Efforts are also being made to explore domestic mining initiatives and create strategic reserves to reduce reliance on foreign suppliers. Strengthening recycling technologies for rare earth elements is becoming a focal point to enhance supply chain resilience in the long term.
Market Segmentation:
By Type:
Permanent Magnets:
Neodymium-Iron-Boron (NdFeB)
Samarium-Cobalt (SmCo)
Ferrite
Alnico
Soft Magnetic Materials:
Silicon Steel
Soft Ferrites
Iron-Based Alloys
Semi-Hard Magnetic Materials:
Cobalt-Based Alloys
Heusler Alloys
By End-User:
Automotive:
Electric Vehicles (EVs)
Hybrid Vehicles
Conventional Vehicles
Electronics & Telecommunications:
Consumer Electronics
Wireless Communication Devices
IoT Devices
Data Storage
Energy & Power:
Wind Power Generation
Battery Storage Systems
Transformers & Inductors
Healthcare:
MRI Machines
Biosensors
Drug Delivery Systems
Aerospace & Defense:
Navigation & Radar Systems
Secure Data Storage
Satellite Communication
Industrial Machinery:
Robotics & Automation
Power Tools
Magnetic Separation Equipment
By Region:
North America: U.S., Canada
Europe: Germany, United Kingdom, France, Italy, Spain, Rest of Europe
Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia-Pacific
Latin America: Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa: GCC Countries, South Africa, Rest of Middle East and Africa
Key Players in the Market:
Yantai Dongxing Magnetic Materials Inc. (China)
Hitachi Metals Ltd. (Japan)
TDK Corporation (Japan)
Anhui Sinomag Technology Co. Ltd. (China)
Dexter Magnetic Technologies DMEGC (China)
Daido Steel Ltd. (Japan)
Electron Energy Corporation (US)
Shin-Etsu Chemical Co. Ltd. (Japan)
Arnold Magnetic Technologies (US)
Neo (Canada)
The Advanced Magnetic Materials Market was valued at USD 22,405 million in 2024 and is projected to reach USD 46,308 million by 2032, growing at a CAGR of 9.5% during the forecast period (2024–2032).
The demand for advanced magnetic materials is primarily driven by their essential role in energy-efficient technologies, the miniaturization of electronic devices, and the rapid growth of electric vehicles (EVs). Governments around the world are increasing investments in sustainable energy solutions, significantly boosting demand for permanent magnets used in wind turbines and energy storage systems. Additionally, the rise of IoT devices and 5G technology is driving the need for high-performance magnetic components. The defense and aerospace industries are major consumers, utilizing these materials in applications that require precision and durability. The healthcare sector is also increasingly adopting magnetic materials in MRI machines and biomedical devices, further expanding market opportunities. Moreover, ongoing advancements in nanomagnetic materials and soft magnetic composites are expected to improve the performance and efficiency of these materials, opening new avenues for innovation.
Market Drivers:
Expanding Electronics and Telecommunications Industry:
The rapid growth of the electronics and telecommunications sectors is significantly contributing to market growth. Advanced magnetic materials are critical components in electronic devices such as transformers, sensors, inductors, and micro-electromechanical systems (MEMS). The widespread adoption of smart devices, IoT applications, and 5G technology is driving demand for miniaturized, high-performance magnetic components. For example, TDK Corporation is specializing in magnetic products such as ferrite cores and sensors, essential for the electronics industry. As the demand for smaller, more efficient electronic devices increases, manufacturers are focusing on innovations in soft and hard magnetic materials to enhance product performance. Furthermore, advancements in nanomagnetic materials are paving the way for improved efficiency and reliability in next-generation electronic devices.
Market Challenges:
Supply Chain Constraints and Dependency on Rare Earth Elements:
One of the major challenges facing the advanced magnetic materials market is the heavy reliance on rare earth elements, primarily sourced from a limited number of regions, particularly China. Geopolitical tensions, trade restrictions, and supply chain disruptions can result in price fluctuations and limited availability of these critical materials. Manufacturers are under increasing pressure to ensure stable supply chains and explore alternative sources, such as recycling and rare-earth-free magnetic materials. Additionally, the mining and processing of rare earth elements pose environmental and regulatory challenges, further complicating market dynamics. The industry is investing in research and development to create sustainable and cost-effective alternatives to traditional rare-earth-based magnets. Efforts are also being made to explore domestic mining initiatives and create strategic reserves to reduce reliance on foreign suppliers. Strengthening recycling technologies for rare earth elements is becoming a focal point to enhance supply chain resilience in the long term.
Market Segmentation:
By Type:
Permanent Magnets:
Neodymium-Iron-Boron (NdFeB)
Samarium-Cobalt (SmCo)
Ferrite
Alnico
Soft Magnetic Materials:
Silicon Steel
Soft Ferrites
Iron-Based Alloys
Semi-Hard Magnetic Materials:
Cobalt-Based Alloys
Heusler Alloys
By End-User:
Automotive:
Electric Vehicles (EVs)
Hybrid Vehicles
Conventional Vehicles
Electronics & Telecommunications:
Consumer Electronics
Wireless Communication Devices
IoT Devices
Data Storage
Energy & Power:
Wind Power Generation
Battery Storage Systems
Transformers & Inductors
Healthcare:
MRI Machines
Biosensors
Drug Delivery Systems
Aerospace & Defense:
Navigation & Radar Systems
Secure Data Storage
Satellite Communication
Industrial Machinery:
Robotics & Automation
Power Tools
Magnetic Separation Equipment
By Region:
North America: U.S., Canada
Europe: Germany, United Kingdom, France, Italy, Spain, Rest of Europe
Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia-Pacific
Latin America: Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa: GCC Countries, South Africa, Rest of Middle East and Africa
Key Players in the Market:
Yantai Dongxing Magnetic Materials Inc. (China)
Hitachi Metals Ltd. (Japan)
TDK Corporation (Japan)
Anhui Sinomag Technology Co. Ltd. (China)
Dexter Magnetic Technologies DMEGC (China)
Daido Steel Ltd. (Japan)
Electron Energy Corporation (US)
Shin-Etsu Chemical Co. Ltd. (Japan)
Arnold Magnetic Technologies (US)
Neo (Canada)
Table of Contents
180 Pages
- CHAPTER NO. 1 : INTRODUCTION
- 1.1.1. Report Description
- Purpose of the Report
- USP & Key Offerings
- 1.1.2. Key Benefits for Stakeholders
- 1.1.3. Target Audience
- 1.1.4. Report Scope
- CHAPTER NO. 2 : EXECUTIVE SUMMARY
- 2.1. Advanced Magnetic Materials Market Snapshot
- 2.1.1. Advanced Magnetic Materials Market, 2018 - 2032 (USD Million)
- CHAPTER NO. 3 : Advanced Magnetic Materials Market – INDUSTRY ANALYSIS
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Restraints
- 3.4. Market Opportunities
- 3.5. Porter’s Five Forces Analysis
- CHAPTER NO. 4 : ANALYSIS COMPETITIVE LANDSCAPE
- 4.1. Company Market Share Analysis – 2023
- 4.2. Advanced Magnetic Materials Market Company Revenue Market Share, 2023
- 4.3. Company Assessment Metrics, 2023
- 4.4. Start-ups /SMEs Assessment Metrics, 2023
- 4.5. Strategic Developments
- 4.6. Key Players Product Matrix
- CHAPTER NO. 5 : PESTEL & ADJACENT MARKET ANALYSIS
- CHAPTER NO. 6 : Advanced Magnetic Materials Market – BY By Type ANALYSIS
- CHAPTER NO. 7 : Advanced Magnetic Materials Market – BY By End-User ANALYSIS
- CHAPTER NO. 8 : Advanced Magnetic Materials Market – BY By Region ANALYSIS
- CHAPTER NO. 9 : COMPANY PROFILES
- 9.1. Yantai Dongxing Magnetic Materials Inc. (China)
- 9.1.1. Company Overview
- 9.1.2. Product Portfolio
- 9.1.3. Swot Analysis
- 9.1.4. Business Strategy
- 9.1.5. Financial Overview
- 9.2. Hitachi Metals Ltd. (Japan)
- 9.3. TDK Corporation (Japan)
- 9.4. Anhui Sinomag Technology Co. Ltd. (China)
- 9.5. Dexter Magnetic Technologies DMEGC (China)
- 9.6. Daido Steel Ltd. (Japan)
- 9.7. Electron Energy Corporation (US)
- 9.8. Shin-Etsu Chemical Co. Ltd. (Japan)
- 9.9. Arnold Magnetic Technologies (US)
- 9.10. Neo (Canada)
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.