Permanent Magnet Market by Type (NdFeB, SmCo, Ferrite, AlNiCo), Operating Temperature (Standard, High, Ultra-High), Manufacturing Process (Sintered, Bonded), End-use Industry, and Region - Global Forecast to 2030

The permanent magnet market is projected to reach USD 88.51 billion by 2030, from USD 58.87 billion in 2025, at a CAGR of 8.5%. Samarium Cobalt magnets are known for their excellent magnetic strength, high resistance to demagnetization, and outstanding temperature stability. These magnets can operate efficiently at elevated temperatures and are highly resistant to corrosion, making them ideal for demanding applications in aerospace and defense, medical equipment, and consumer electronics. Samarium Cobalt magnets can maintain their magnetic properties at temperatures up to 350°C or even higher, surpassing the limits of neodymium iron boron magnets, which start losing effectiveness around 80°C.

In terms of value, high operating temperature is the second-largest segment in the permanent magnet market.”

Permanent magnets operating at high temperatures offer exceptional thermal stability and resistance to demagnetization. Industries such as consumer electronics, automotive, general industrial, medical technology, aerospace & defense, and environment & energy often require magnets that can maintain performance under elevated temperatures. Alnico, SmCo, and ferrite magnets provide the highest temperature resistance among permanent magnets, without any loss of performance. These magnets are preferred in environments where standard NdFeB magnets would lose strength or suffer irreversible damage, ensuring reliability and longevity of key components.

“In terms of value, the automotive industry ranks second in the permanent magnet market.”

Due to the rapid growth in electric and hybrid vehicles, the demand for permanent magnets is quickly increasing in the automotive industry. Permanent magnets, particularly Neodymium Iron Boron magnets, offer high torque density, superior efficiency, and a compact size, all of which are essential for improving vehicle performance and extending battery range. As global efforts to reduce carbon emissions intensify, automobile manufacturers are increasingly adopting electric propulsion systems, which further drives demand for permanent magnets. Ongoing advancements in battery and magnet technology, along with supportive government policies for clean energy, have accelerated the integration of permanent magnets in the automotive industry.

“The permanent magnet market in Europe is projected to register the third-highest CAGR.”

The growth of the permanent magnet market in this region is primarily driven by increasing consumer electronics, automotive, and industrial applications. The market has a wide geographical presence with well-established players. Most of these players are based in Europe. In Germany, the demand for permanent magnets is mainly fueled by the consumer electronics industry. The country is experiencing a high demand for home appliances, wearable devices, smart homes, and advancements in augmented and virtual reality, which are expected to boost the growth of the permanent magnet market within the consumer electronics sector. By 2025, a leading German magnet manufacturer, Vacuumschmelze GmbH & Co. KG, plans to expand its US operations to support American OEMs and establish itself as a key non-Chinese supplier of high-performance magnets used in EVs and defense systems.

This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:

• By Company Type: Tier 1 - 40%, Tier 2 - 33%, and Tier 3 - 27%
• By Designation: C-level - 50%, D-level- 30%, and Executives- 20%
• By Region: North America - 20%, Europe - 15%, Asia Pacific - 50%, South America - 5%, and Middle East & Africa -10%.

The report provides a comprehensive analysis of company profiles:

Prominent companies include Proterial, Ltd. (Japan), Arnold Magnetic Technologies (US), TDK Corporation (Japan), Yantai Dongxing Magnetic Materials Inc. (China), Shin-Etsu Chemical Co., Ltd. (Japan), Electron Energy Corporation (US), Adams Magnetic Products, LLC (US), Bunting Magnetics Co. (US), Tengam Engineering, Inc. (US), Ningbo Yunsheng Co., Ltd. (China), Chengdu Galaxy Magnets Co., Ltd. (China), Goudsmit Magnetics (Netherlands), Eclipse Magnetics (UK), Dexter Magnetic Technologies (US), and Earth Panda Advance Magnetic Material Co., Ltd. (China).

Research Coverage

This research report categorizes the permanent magnet market by type (Neodymium Iron Boron, Samarium Cobalt, Ferrite, Aluminum Nickel Cobalt, and others), operating temperature (Standard, High, Ultra-High), manufacturing process (Sintered, Bonded), end-use industry (Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy, Aerospace & Defense, and others), and region (Asia Pacific, Europe, North America, Middle East & Africa, and South America). The scope of the report includes detailed information about key drivers, restraints, challenges, and opportunities influencing the growth of the permanent magnet market. A comprehensive analysis of key industry players provides insights into their business overview, solutions, and services, as well as key strategies such as contracts, partnerships, and agreements. The report also covers new product and service launches, mergers and acquisitions, and other developments related to the permanent magnet market. Competitive analysis of upcoming startups within the permanent magnet market ecosystem is included in the report.

Reasons to buy this report:

The report will assist market leaders and new entrants by providing estimated revenue figures for the permanent magnet market and its segments. It will help stakeholders understand the competitive landscape and gain insights to better position their businesses and develop effective go-to-market strategies. Additionally, the report offers key market insights, including main drivers, restraints, challenges, and opportunities, helping stakeholders grasp the market’s current pulse.

The report provides insights on the following pointers:

• Analysis of key drivers (Rise in new installations of wind turbines, Growing automotive industry in Asia Pacific), restraints (Fluctuating raw material costs of rare earth magnets), opportunities (Increasing demand for electric and hybrid vehicles), and challenges (High reliance on China for raw materials and magnets) influencing the growth of the permanent magnet market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product & service launches in the permanent magnet market
• Market Development: Comprehensive information about lucrative markets; The report analyses the permanent magnet market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the permanent magnet market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Proterial, Ltd. (Japan), Arnold Magnetic Technologies (US), TDK Corporation (Japan), Yantai Dongxing Magnetic Materials Inc. (China), and Shin-Etsu Chemical Co., Ltd. (Japan), among others, in the permanent magnet market

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