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| Data Timeline | Historical Data: 2022–2025 | Base Year: 2025 | Forecast Period: 2026–2034 |
|---|---|
| Type Segment | Neodymium Iron Boron Magnets, Ferrite Magnets, Samarium Cobalt Magnets, Alnico Magnets, Others |
| End-Use Segment | Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy, Aerospace & Defense, Others |
| By Distribution Channel Segment | Direct Sale, Indirect Sale |
|---|---|
| Regions & Countries |
|
Increasing Demand for Electric Vehicles (EVs) Growth of Renewable Energy Systems Technological Progress in Electronics & Industrial Automation
Volatility in Rare Earth Material Prices Environmental and Regulatory Challenges Competition from Alternative Technologies
Development of Magnets Without Rare Earth Elements Enhanced Recycling and Sustainable Approaches Expansion in Aerospace and Defense Uses
Country-level data · Company profiles · Editable dataset · Analyst consultation included.
| Region / Country | 2021 (A) | 2025 (A) | 2033 (P) | CAGR |
|---|
A = Actual · E = Estimated · P = Projected · 🔒 Locked values require full access. Click headers to sort.
Unlock full regional dataset →Charts are illustrative — exact values, country-level breakdowns, and full forecast in the paid report. Request a Free Sample PDF.
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In January 2023, VAC has entered into an agreement with General Motors, a U.S. automaker, to construct a permanent magnet manufacturing facility in North America. The plant will be constructed using locally sourced raw materials. The product would be employed in the production of electric motors that are supplied to General Motors automobiles. (Source:https://investor.gm.com/news-releases/news-release-details/general-motors-and-vacuumschmelze-vac-announce-plans-build-new)
| Company | 2022 (A) | 2023 (A) | 2024 (A) | 2025 (A) |
|---|---|---|---|---|
| Hitachi Metals | ••• | ••• | ••• | ••• |
| Ltd. (Japan) | ••• | ••• | ••• | ••• |
| TDK Corporation (Japan) | ••• | ••• | ••• | ••• |
| Shin-Etsu Chemical Co. | ••• | ••• | ••• | ••• |
| Ltd. (Japan) | ••• | ••• | ••• | ••• |
| Electron Energy Corporation (US) | ••• | ••• | ••• | ••• |
| Adams Magnetic Products Co. | ••• | ••• | ••• | ••• |
| Inc. (US) | ••• | ••• | ••• | ••• |
| Bunting Magnetics Co.(US) | ••• | ••• | ••• | ••• |
| Tengam Engineering | ••• | ••• | ••• | ••• |
| Inc.(US) | ••• | ••• | ••• | ••• |
| Yantai Shougang Magnetic Materials Inc. (China) | ••• | ••• | ••• | ••• |
| Ningbo Yunsheng Co. Ltd. (China) | ••• | ••• | ••• | ••• |
| Chengdu Galaxy Magnets Co. | ••• | ••• | ••• | ••• |
| Ltd. (China) | ••• | ••• | ••• | ••• |
| Goudsmit Magnetics (US) | ••• | ••• | ••• | ••• |
| Eclipse Magnetics (UK) | ••• | ••• | ••• | ••• |
| Arnold Magnetic Technologies(US) | ••• | ••• | ••• | ••• |
Revenue data requires full access. *2nd & 3rd tier companies available on enquiry.
Request company profile for validation →According to Cognitive Market Research, the global Permanent Magnet market size is USD 45.1 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
An object that remains magnetic in the absence of a magnetizing force, such as a magnetic field or electric current, is understood as a permanent magnet. In the magnet, the magnetic field is generated by the structure of the material. These magnets, which are also referred to as "hard magnets," exhibit a high magnetic field strength, low permeability, and retain their stability in the presence of other magnetic fields. Electricity can be converted to mechanical energy and vice versa by these magnets. This is accomplished by making use of the repulsion between magnets and regulating electrons. Various varieties of magnets, such as alloy magnets, ferrite magnets, and bonded magnets, are available. Appliances, HVAC systems, actuators, and speakers are among the numerous applications for which they are employed. Growth in the market will be stimulated by the growing demand for magnets in hybrid electric vehicles. An internal combustion generator and an electric motor are installed in hybrid electric vehicles, which necessitate approximately 2 to 3 kilograms of rare earth magnets.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Permanent Magnet Market Analysis is witnessing significant growth in the near future. In 2023, the Neodymium Iron Boron Magnets segment accounted for a notable share of the Global Permanent Magnet Market Analysis.Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Permanent Magnet Market Analysis is witnessing significant growth in the near future.
In 2023, the Neodymium Iron Boron Magnets segment accounted for a notable share of the Global Permanent Magnet Market Analysis.
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| Type | Neodymium Iron Boron Magnets, Ferrite Magnets, Samarium Cobalt Magnets, Alnico Magnets, Others |
| End-Use | Consumer Electronics, General Industrial, Automotive, Medical Technology, Environment & Energy, Aerospace & Defense, Others |
| By Distribution Channel | Direct Sale, Indirect Sale |
| List of Competitors | Hitachi Metals, Ltd. (Japan), TDK Corporation (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Electron Energy Corporation (US), Adams Magnetic Products Co., Inc. (US), Bunting Magnetics Co.(US), Tengam Engineering, Inc.(US), Yantai Shougang Magnetic Materials Inc. (China), Ningbo Yunsheng Co. Ltd. (China), Chengdu Galaxy Magnets Co., Ltd. (China), Goudsmit Magnetics (US), Eclipse Magnetics (UK), Arnold Magnetic Technologies(US) |
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
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Cross-referencing against trade databases, customs records, financial filings, patent databases, and verified industry publications.
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