Global Rare Earth SmCo Magnets Market Growth 2026-2032
Description
The global Rare Earth SmCo Magnets market size is predicted to grow from US$ 473 million in 2025 to US$ 650 million in 2032; it is expected to grow at a CAGR of 4.7% from 2026 to 2032.
In 2025, the global production of rare earth SmCo magnets reached 15,613 tons, with an average selling price of $31 per kilogram. Rare Earth SmCo Magnets are a remarkable class of permanent magnets. Composed of samarium and cobalt, these magnets possess a unique combination of properties. They have an extremely high magnetic energy product, which means they can generate a powerful magnetic field in a relatively small volume. This allows them to be used in applications where space is limited but a strong magnetic force is required, such as in high - precision motors and miniature sensors.
Samarium Cobalt (SmCo) magnets hold a critical niche within the global rare-earth permanent magnet market, distinguished by their exceptional thermal stability, resistance to demagnetization, and superior corrosion resistance. The current development status is characterized by specialization. While not as voluminous as neodymium-iron-boron (NdFeB) magnets in the overall market, SmCo magnets dominate specific high-reliability segments. Their primary applications are in aerospace, defense, high-performance industrial motors, and certain medical devices.
Market trends are evolving along two key paths. First, a global restructuring of the supply chain is underway. Driven by supply security and geopolitical concerns, regions outside China, such as the United States and Australia, are actively developing domestic rare-earth mining and magnet production capacities to reduce dependency. Second, material innovation is progressing toward high performance and sustainability, with research into rare-earth-free or reduced-rare-earth magnets presenting a forward-looking technological pathway.
Significant growth opportunities are anchored in the performance-driven markets that SmCo magnets inherently protect. Global investments in strengthening defense capabilities and advancing high-end equipment continuously fuel demand. Furthermore, expanding applications in industrial automation and precision instruments that require unwavering performance in high-temperature environments provide a steady growth avenue.
Nevertheless, the industry faces considerable challenges. Firstly, stringent environmental regulations significantly increase the cost and complexity of rare-earth mining and processing, posing constraints on upstream raw material supply. Secondly, the key raw materials, samarium and cobalt, are strategic resources with high costs susceptible to market volatility and geopolitical tensions. Finally, in large-scale commercial markets like automotive, SmCo magnets face intense competition from more cost-effective NdFeB magnets with higher magnetic strength, limiting their market expansion.
LP Information, Inc. (LPI) ' newest research report, the “Rare Earth SmCo Magnets Industry Forecast” looks at past sales and reviews total world Rare Earth SmCo Magnets sales in 2025, providing a comprehensive analysis by region and market sector of projected Rare Earth SmCo Magnets sales for 2026 through 2032. With Rare Earth SmCo Magnets sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Rare Earth SmCo Magnets industry.
This Insight Report provides a comprehensive analysis of the global Rare Earth SmCo 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 Rare Earth SmCo Magnets portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Rare Earth SmCo Magnets market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Rare Earth SmCo 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 Rare Earth SmCo Magnets.
This report presents a comprehensive overview, market shares, and growth opportunities of Rare Earth SmCo Magnets market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
SmCo5
Sm2Co17
Segmentation by Manufacturing Process:
Sintering Method
Binding Method
Segmentation by Shape:
Square
Cylindrical
Ring-shaped
Irregularly Shaped
Other
Segmentation by Application:
Aerospace & Defense
Automotive
Industrial Machinery
Others
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.
Shin-Etsu
VAC
Galaxy Magnetic
HPMG
NGYC
CO-STAR
Tianhe Magnetics
Electron Energy Corp
Arnold Magnetic
Magna Co., Ltd.
Sichuan Ruiyu Magnetic
Key Questions Addressed in this Report
What is the 10-year outlook for the global Rare Earth SmCo Magnets market?
What factors are driving Rare Earth SmCo Magnets market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Rare Earth SmCo Magnets market opportunities vary by end market size?
How does Rare Earth SmCo Magnets break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
In 2025, the global production of rare earth SmCo magnets reached 15,613 tons, with an average selling price of $31 per kilogram. Rare Earth SmCo Magnets are a remarkable class of permanent magnets. Composed of samarium and cobalt, these magnets possess a unique combination of properties. They have an extremely high magnetic energy product, which means they can generate a powerful magnetic field in a relatively small volume. This allows them to be used in applications where space is limited but a strong magnetic force is required, such as in high - precision motors and miniature sensors.
Samarium Cobalt (SmCo) magnets hold a critical niche within the global rare-earth permanent magnet market, distinguished by their exceptional thermal stability, resistance to demagnetization, and superior corrosion resistance. The current development status is characterized by specialization. While not as voluminous as neodymium-iron-boron (NdFeB) magnets in the overall market, SmCo magnets dominate specific high-reliability segments. Their primary applications are in aerospace, defense, high-performance industrial motors, and certain medical devices.
Market trends are evolving along two key paths. First, a global restructuring of the supply chain is underway. Driven by supply security and geopolitical concerns, regions outside China, such as the United States and Australia, are actively developing domestic rare-earth mining and magnet production capacities to reduce dependency. Second, material innovation is progressing toward high performance and sustainability, with research into rare-earth-free or reduced-rare-earth magnets presenting a forward-looking technological pathway.
Significant growth opportunities are anchored in the performance-driven markets that SmCo magnets inherently protect. Global investments in strengthening defense capabilities and advancing high-end equipment continuously fuel demand. Furthermore, expanding applications in industrial automation and precision instruments that require unwavering performance in high-temperature environments provide a steady growth avenue.
Nevertheless, the industry faces considerable challenges. Firstly, stringent environmental regulations significantly increase the cost and complexity of rare-earth mining and processing, posing constraints on upstream raw material supply. Secondly, the key raw materials, samarium and cobalt, are strategic resources with high costs susceptible to market volatility and geopolitical tensions. Finally, in large-scale commercial markets like automotive, SmCo magnets face intense competition from more cost-effective NdFeB magnets with higher magnetic strength, limiting their market expansion.
LP Information, Inc. (LPI) ' newest research report, the “Rare Earth SmCo Magnets Industry Forecast” looks at past sales and reviews total world Rare Earth SmCo Magnets sales in 2025, providing a comprehensive analysis by region and market sector of projected Rare Earth SmCo Magnets sales for 2026 through 2032. With Rare Earth SmCo Magnets sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Rare Earth SmCo Magnets industry.
This Insight Report provides a comprehensive analysis of the global Rare Earth SmCo 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 Rare Earth SmCo Magnets portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Rare Earth SmCo Magnets market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Rare Earth SmCo 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 Rare Earth SmCo Magnets.
This report presents a comprehensive overview, market shares, and growth opportunities of Rare Earth SmCo Magnets market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
SmCo5
Sm2Co17
Segmentation by Manufacturing Process:
Sintering Method
Binding Method
Segmentation by Shape:
Square
Cylindrical
Ring-shaped
Irregularly Shaped
Other
Segmentation by Application:
Aerospace & Defense
Automotive
Industrial Machinery
Others
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.
Shin-Etsu
VAC
Galaxy Magnetic
HPMG
NGYC
CO-STAR
Tianhe Magnetics
Electron Energy Corp
Arnold Magnetic
Magna Co., Ltd.
Sichuan Ruiyu Magnetic
Key Questions Addressed in this Report
What is the 10-year outlook for the global Rare Earth SmCo Magnets market?
What factors are driving Rare Earth SmCo Magnets market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Rare Earth SmCo Magnets market opportunities vary by end market size?
How does Rare Earth SmCo Magnets break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
114 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for Rare Earth SmCo Magnets by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for Rare Earth SmCo Magnets by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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