Magnetic Materials

Global Magnetic Materials Market to Reach US$270.7 Billion by 2030

The global market for Magnetic Materials estimated at US$157.9 Billion in the year 2024, is expected to reach US$270.7 Billion by 2030, growing at a CAGR of 9.4% over the analysis period 2024-2030. Semi-Hard Magnet, one of the segments analyzed in the report, is expected to record a 10.0% CAGR and reach US$120.9 Billion by the end of the analysis period. Growth in the Soft Magnet segment is estimated at 9.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$40.6 Billion While China is Forecast to Grow at 13.6% CAGR

The Magnetic Materials market in the U.S. is estimated at US$40.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$69.8 Billion by the year 2030 trailing a CAGR of 13.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.9% and 8.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.8% CAGR.

Global Magnetic Materials Market - Key Trends and Drivers Summarized

How Are Magnetic Materials Shaping Modern Technology?

Magnetic materials are critical components in a wide range of modern technologies, from consumer electronics and power generation to medical devices and transportation. These materials, which include soft magnetic materials (used in transformers and inductors) and hard magnetic materials (used in permanent magnets), are essential for generating, storing, and transmitting electrical energy. In the automotive industry, magnetic materials are integral to the operation of electric motors and sensors in electric vehicles. In the electronics sector, they are used in data storage devices and sensors. As demand for efficient energy solutions and advanced technologies grows, magnetic materials are becoming increasingly important for both traditional and emerging industries.

What Innovations Are Shaping the Magnetic Materials Market?

The magnetic materials market is being shaped by innovations in nanotechnology, materials science, and manufacturing processes. The development of rare-earth-free magnetic materials is gaining momentum as manufacturers seek to reduce dependency on rare-earth elements, which are expensive and difficult to source. Additionally, advancements in high-performance ferrite magnets and bonded magnets are enhancing the efficiency and power density of devices that rely on magnetic materials, such as electric motors and wind turbines. The integration of magnetic materials in emerging technologies, including wireless charging systems and magnetic resonance imaging (MRI) machines, is also driving research and development in the field.

How Do Market Segments Define the Growth of Magnetic Materials?

Types of magnetic materials include soft magnetic materials, hard magnetic materials, and semi-hard magnetic materials, with hard magnetic materials (such as neodymium magnets) dominating the market due to their use in permanent magnets for motors and generators. Applications range from energy generation and storage to consumer electronics and medical devices, with energy generation being a major growth segment due to the increasing adoption of wind turbines and electric vehicles. End-use industries include automotive, electronics, energy, healthcare, and industrial manufacturing, with the automotive sector leading the market as electric vehicle production rises.

What Factors Are Driving the Growth in the Magnetic Materials Market?

The growth in the magnetic materials market is driven by several factors, including the rising demand for electric vehicles, the expansion of renewable energy infrastructure, and the growing use of advanced electronics. As the shift toward clean energy and electric mobility accelerates, the need for high-performance magnetic materials in electric motors, generators, and energy storage systems is increasing. Additionally, the proliferation of consumer electronics and medical devices that rely on magnetic materials for data storage, imaging, and sensing is contributing to market growth. The continued development of rare-earth-free magnets and other sustainable solutions is also expected to play a key role in driving future growth in this market.

SCOPE OF STUDY:

The report analyzes the Magnetic Materials market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Semi-Hard Magnet, Soft Magnet, Permanent / Hard Magnet); Application (Automotive, Electronics, Industrial, Power Generation, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 13 Featured) -

• Arnold Magnetic Technologies Corporation
• Daido Steel Co. Ltd.
• Dexter Magnetic Technologies
• Electron Energy Corporation
• Hitachi Metals Ltd.
• Lynas Corporation Ltd.
• Molycorp Inc.
• Shin-ETSU Chemical Co., Ltd.
• TDK Corporation
• Tengam Engineering Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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