Magnetic Plastics

Global Magnetic Plastics Market to Reach US$46.9 Billion by 2030

The global market for Magnetic Plastics estimated at US$34.5 Billion in the year 2024, is expected to reach US$46.9 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2024-2030. Ferrous Bonded, one of the segments analyzed in the report, is expected to record a 4.1% CAGR and reach US$29.2 Billion by the end of the analysis period. Growth in the Neodymium Iron Boron Bonded segment is estimated at 7.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$9.4 Billion While China is Forecast to Grow at 8.1% CAGR

The Magnetic Plastics market in the U.S. is estimated at US$9.4 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.3 Billion by the year 2030 trailing a CAGR of 8.1% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.6% and 5.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Global Magnetic Plastics Market – Key Trends & Drivers Summarized

What Makes Magnetic Plastics Such a Unique Class of Functional Materials?

Magnetic plastics, also known as polymer-bonded magnets or magnetic composites, are hybrid materials formed by embedding magnetic powders—such as ferrites, neodymium-iron-boron (NdFeB), or samarium-cobalt—into thermoplastic or thermosetting polymer matrices. These materials combine the flexibility, lightweight properties, and moldability of plastics with the magnetic functionality traditionally found in metal-based magnets. Unlike sintered magnets, magnetic plastics can be shaped into complex geometries via injection molding or extrusion, allowing manufacturers to integrate them easily into intricate components without secondary machining.

They are widely used in applications where weight reduction, design freedom, and corrosion resistance are critical—such as in miniature motors, sensors, actuators, medical devices, consumer electronics, and even automotive assemblies. Magnetic plastics can be isotropic or anisotropic depending on whether the magnetic particles are aligned during processing. This tunability allows engineers to customize the magnetic orientation and performance to suit specific device requirements. As industries demand more compact and energy-efficient components, the relevance of magnetic plastics is growing rapidly.

How Are Innovations in Materials and Processing Technologies Advancing Product Capabilities?

The performance of magnetic plastics is being enhanced significantly through innovations in polymer chemistry, filler dispersion techniques, and additive manufacturing. Advanced thermoplastics like polyamide, PPS, and PEEK are increasingly used as matrices due to their high thermal stability and mechanical strength, enabling magnetic plastics to perform reliably in high-temperature and harsh operating environments. Equally important is the improvement in particle surface treatments and coupling agents, which promote better adhesion between magnetic fillers and polymers, thereby enhancing mechanical integrity and magnetic consistency.

Emerging trends include the use of rare-earth-free and high-entropy magnetic materials to reduce reliance on critical raw materials while maintaining competitive performance levels. Additionally, 3D printing of magnetic polymers is becoming a viable technique for prototyping and producing complex parts with embedded functionality, such as sensors with integrated circuits. In high-frequency applications, low eddy current losses and shape customization make magnetic plastics an appealing substitute for laminated magnetic cores or metallic magnets. Continuous R&D efforts are also focusing on improving the alignment of anisotropic particles during molding to optimize magnetic flux density in end-use devices.

Which End-Use Industries Are Driving Demand for Magnetic Plastics and Why?

The adoption of magnetic plastics is rapidly increasing across several key industries, most notably automotive, electronics, healthcare, and industrial automation. In electric vehicles and hybrid drivetrains, these materials are used in compact motor designs and integrated magnetic sensors, contributing to reduced system weight and improved energy efficiency. Consumer electronics manufacturers use magnetic plastics in speakers, vibration motors, and wearable device components where miniaturization and electromagnetic interference reduction are critical.

In the healthcare sector, magnetic plastics are used in diagnostics, therapeutic equipment, and drug delivery systems where biocompatibility, non-corrosiveness, and customization of shape are required. Industrial robots and factory automation systems incorporate magnetic plastic-based encoders, torque sensors, and motion control devices that benefit from the material’s lightweight and customizable characteristics. Additionally, the renewable energy sector is adopting magnetic plastics in wind turbine sensors and energy harvesting systems, reflecting the growing demand for durable and high-performance materials in dynamic operating environments.

The Growth in the Magnetic Plastics Market Is Driven by Several Factors…

The growth in the magnetic plastics market is driven by several factors including the miniaturization of electronic devices, the shift toward electric mobility, and increasing demand for lightweight magnetic components across automotive and industrial systems. The rapid expansion of electric motors in EVs, e-bikes, and drones is pushing OEMs to adopt polymer-bonded magnets that can be customized for performance and integrated into space-constrained architectures. Additionally, advancements in polymer science and magnetic filler engineering are enabling broader thermal, mechanical, and magnetic tuning, opening new application frontiers in sensors, actuators, and medical diagnostics.

The rise of automated manufacturing and smart factories is further increasing the need for compact, reliable sensors and encoders, where magnetic plastics offer precision and design freedom. Moreover, the proliferation of IoT devices and wearables is creating demand for lightweight, corrosion-resistant magnetic materials that can support continuous operation in diverse environments. Regulatory pressure to reduce the use of heavy metals and hazardous materials is also favoring the use of thermoplastic magnetic composites over traditional sintered magnets. As additive manufacturing of functional materials matures, magnetic plastics are likely to become a mainstream solution in both prototyping and series production across a variety of high-tech sectors.

SCOPE OF STUDY:

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

Segments:
Material (Ferrous Bonded, Neodymium Iron Boron Bonded); End-Use (Food, Electrical & Electronics, Medical, Automotive, Aerospace, Construction, Other End-Uses)

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 43 Featured) -

• 3M Company
• Adams Magnetic Products Co.
• ALL Magnetics Inc.
• Arnold Magnetic Technologies
• BASF SE
• Bunting Magnetics Co.
• Eclipse Magnetics
• Hengdian Group DMEGC Magnetics Co. Ltd
• INGENIERÍA MAGNETICA APLICADA SLU
• Kolektor Magnet Technology GmbH
• Magma Magnetic Technologies
• Magnum Magnetics
• MS-Schramberg GmbH & Co. KG
• OM Group
• Sura Magnets AB
• Tengye Magnetic Materials Co., Ltd.
• ThyssenKrupp AG
• VACUUMSCHMELZE GmbH & Co. KG
• Voestalpine High Performance Metals GmbH
• Yantai Shougang Magnetic Materials Inc.

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