Global Permanent Rare Earth Magnets Market Growth 2025-2031

The global Permanent Rare Earth Magnets market size is predicted to grow from US$ 976 million in 2025 to US$ 1299 million in 2031; it is expected to grow at a CAGR of 4.9% from 2025 to 2031.

Permanent rare earth magnets are the strongest type of permanent magnets, made from alloys of rare earth elements like neodymium, samarium, and cobalt. They exhibit exceptional magnetic strength, high coercivity (resistance to demagnetization), and excellent temperature stability. These magnets are used in diverse applications, including electric motors, generators, hard disk drives, and medical devices. Their high performance allows for miniaturization and increased efficiency in various technologies. Despite their strength, they can be brittle and susceptible to corrosion, requiring protective coatings.

The permanent rare earth magnet industry is experiencing dynamic growth, driven by the global shift towards electrification and renewable energy. A significant trend is the increasing demand for high-performance magnets in electric vehicles (EVs) and wind turbines, as these technologies require powerful and efficient magnetic components. Manufacturers are focusing on improving magnet performance, reducing reliance on critical rare earth elements, and enhancing sustainability. This involves research into alternative magnet compositions, recycling technologies, and more efficient production processes. The industry is also witnessing a growing emphasis on localized production and supply chain diversification to mitigate geopolitical risks associated with rare earth element sourcing. The miniaturization of electronic devices and the expansion of robotics and automation are further driving demand for small, powerful magnets. Additionally, the medical device sector continues to rely on rare earth magnets for applications like MRI machines and implantable devices. The development of advanced magnetic materials with improved temperature stability and corrosion resistance is also a key focus. Furthermore, the industry is adapting to meet stricter environmental regulations by reducing waste and emissions during magnet production. Overall, the permanent rare earth magnet industry is evolving rapidly, with a focus on innovation, sustainability, and supply chain resilience to meet the growing needs of diverse applications.

LP Information, Inc. (LPI) ' newest research report, the “Permanent Rare Earth Magnets Industry Forecast” looks at past sales and reviews total world Permanent Rare Earth Magnets sales in 2024, providing a comprehensive analysis by region and market sector of projected Permanent Rare Earth Magnets sales for 2025 through 2031. With Permanent Rare Earth Magnets sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Permanent Rare Earth Magnets industry.

This Insight Report provides a comprehensive analysis of the global Permanent Rare Earth Magnets landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Permanent Rare Earth Magnets portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Permanent Rare Earth Magnets market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Permanent Rare Earth Magnets and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Permanent Rare Earth Magnets.

This report presents a comprehensive overview, market shares, and growth opportunities of Permanent Rare Earth Magnets market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Neodymium Magnets
Samarium Magnets

Segmentation by Application:
Industrial
Consumer Electronics
Home Appliances
Automotive
Wind Turbines
Medical Equipment
Aerospace

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Hitachi Metals
Vacuumschmelze
Shin-Etsu Rare Earth Magnet
TDK

Key Questions Addressed in this Report

What is the 10-year outlook for the global Permanent Rare Earth Magnets market?

What factors are driving Permanent Rare Earth Magnets market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Permanent Rare Earth Magnets market opportunities vary by end market size?

How does Permanent Rare Earth Magnets break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.