Global SmCo Magnet
Market Report
2025
Global SmCo magnet market size is USD 15684.2 million in 2024. A rise in demand from end-use industries such as consumer electronics is expected to boost sales to USD 26879.9626 million by 2031, with a Compound Annual Growth Rate (CAGR) of 8.0% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global SmCo magnet market size is USD 15684.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global SmCo Magnet Market Sales Revenue | 121212 | $ 15684.2 Million | 121212 | 121212 | 121212 | 8% |
North America SmCo Magnet Market Sales Revenue | 121212 | $ 6273.68 Million | 121212 | 121212 | 121212 | 6.2% |
Canada SmCo Magnet Market Sales Revenue | 121212 | $ 752.84 Million | 121212 | 121212 | 121212 | 7% |
United States SmCo Magnet Market Sales Revenue | 121212 | $ 4949.93 Million | 121212 | 121212 | 121212 | 6% |
Mexico SmCo Magnet Market Sales Revenue | 121212 | $ 570.9 Million | 121212 | 121212 | 121212 | 6.7% |
Europe SmCo Magnet Market Sales Revenue | 121212 | $ 4705.26 Million | 121212 | 121212 | 121212 | 6.5% |
Spain SmCo Magnet Market Sales Revenue | 121212 | $ 385.83 Million | 121212 | 121212 | 121212 | 5.6% |
United Kingdom SmCo Magnet Market Sales Revenue | 121212 | $ 790.48 Million | 121212 | 121212 | 121212 | 7.3% |
Russia SmCo Magnet Market Sales Revenue | 121212 | $ 729.32 Million | 121212 | 121212 | 121212 | 5.5% |
Italy SmCo Magnet Market Sales Revenue | 121212 | $ 404.65 Million | 121212 | 121212 | 121212 | 5.9% |
Germany SmCo Magnet Market Sales Revenue | 121212 | $ 931.64 Million | 121212 | 121212 | 121212 | 6.7% |
France SmCo Magnet Market Sales Revenue | 121212 | $ 432.88 Million | 121212 | 121212 | 121212 | 5.7% |
Rest of Europe SmCo Magnet Market Sales Revenue | 121212 | $ 729.32 Million | 121212 | 121212 | 121212 | 5.2% |
Asia Pacific SmCo Magnet Market Sales Revenue | 121212 | $ 3607.37 Million | 121212 | 121212 | 121212 | 10% |
China SmCo Magnet Market Sales Revenue | 121212 | $ 1623.31 Million | 121212 | 121212 | 121212 | 9.5% |
Australia SmCo Magnet Market Sales Revenue | 121212 | $ 187.58 Million | 121212 | 121212 | 121212 | 9.7% |
India SmCo Magnet Market Sales Revenue | 121212 | $ 432.88 Million | 121212 | 121212 | 121212 | 11.8% |
Korea SmCo Magnet Market Sales Revenue | 121212 | $ 360.74 Million | 121212 | 121212 | 121212 | 9.1% |
Japan SmCo Magnet Market Sales Revenue | 121212 | $ 497.82 Million | 121212 | 121212 | 121212 | 8.5% |
Rest of APAC SmCo Magnet Market Sales Revenue | 121212 | $ 256.12 Million | 121212 | 121212 | 121212 | 9.8% |
South America SmCo Magnet Market Sales Revenue | 121212 | $ 784.21 Million | 121212 | 121212 | 121212 | 7.4% |
Colombia SmCo Magnet Market Sales Revenue | 121212 | $ 69.79 Million | 121212 | 121212 | 121212 | 7.2% |
Argentina SmCo Magnet Market Sales Revenue | 121212 | $ 131.75 Million | 121212 | 121212 | 121212 | 8.3% |
Brazil SmCo Magnet Market Sales Revenue | 121212 | $ 335.64 Million | 121212 | 121212 | 121212 | 8% |
Chile SmCo Magnet Market Sales Revenue | 121212 | $ 56.46 Million | 121212 | 121212 | 121212 | 7.7% |
Peru SmCo Magnet Market Sales Revenue | 121212 | $ 64.31 Million | 121212 | 121212 | 121212 | 7.6% |
Rest of South America SmCo Magnet Market Sales Revenue | 121212 | $ 126.26 Million | 121212 | 121212 | 121212 | 6.5% |
Middle East and Africa SmCo Magnet Market Sales Revenue | 121212 | $ 313.68 Million | 121212 | 121212 | 121212 | 7.7% |
GCC Countries SmCo Magnet Market Sales Revenue | 121212 | $ 134.26 Million | 121212 | 121212 | 121212 | 8.5% |
Turkey SmCo Magnet Market Sales Revenue | 121212 | $ 26.98 Million | 121212 | 121212 | 121212 | 7.2% |
South Africa SmCo Magnet Market Sales Revenue | 121212 | $ 49.56 Million | 121212 | 121212 | 121212 | 8.7% |
Egypt SmCo Magnet Market Sales Revenue | 121212 | $ 32.94 Million | 121212 | 121212 | 121212 | 8% |
Nigeria SmCo Magnet Market Sales Revenue | 121212 | $ 32.94 Million | 121212 | 121212 | 121212 | 6.8% |
Rest of MEA SmCo Magnet Market Sales Revenue | 121212 | $ 37.01 Million | 121212 | 121212 | 121212 | 6.7% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Product Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers:
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Market Restrains:
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Market Trends:
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Report scope is customizable as we have a huge database of SmCo Magnet industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
SmCo Magnet Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Samarium Cobalt (SmCo) magnets are rare earth magnets composed of samarium and cobalt, known for their high magnetic strength, thermal stability, and resistance to demagnetization. The demand for permanent magnets, including Samarium Cobalt (SmCo) magnets, in automotive applications is increasing due to the rising production of electric vehicles (EVs) and advancements in automotive technology. SmCo magnets are essential for EV motors and various automotive components, offering high magnetic strength and thermal stability. The shift towards electric mobility and the development of autonomous vehicles, which require advanced sensors and actuators, further drive this demand.
Technological advancements are significantly driving the SmCo magnet market. Innovations in electronics, such as the development of more compact and efficient devices, have increased demand for high-performance SmCo magnets. Their application in electric vehicles, renewable energy sectors like wind turbines, and aerospace and defense industries is also growing. These sectors require the stability and high magnetic strength provided by SmCo magnets, further boosting their market demand?.
Increased research and development activities in the Samarium Cobalt (SmCo) magnet market are driving innovations in product performance and efficiency. Companies are investing heavily in R&D to develop magnets with better temperature stability and magnetic strength. This focus on innovation is crucial for meeting the growing demands of industries such as automotive, aerospace, and renewable energy. Enhanced R&D efforts also facilitate the creation of more sustainable and cost-effective production methods, further propelling market growth.
The rise in the cost of research and development (R&D) activities is significantly impacting the Samarium Cobalt (SmCo) magnet market. As companies strive to enhance magnet performance and efficiency, substantial investments in R&D are required. These increased costs can lead to higher product prices, potentially limiting market growth. However, advancements in technology and the critical role of SmCo magnets in high-demand sectors such as automotive, aerospace, and renewable energy continue to drive market expansion despite these challenges.
The COVID-19 pandemic impacted the SmCo magnet market by disrupting supply chains and production due to lockdowns and restrictions. The automotive and aerospace sectors, major consumers of SmCo magnets, faced significant slowdowns, reducing demand temporarily. However, the market rebounded as industries resumed and demand for renewable energy and electric vehicles surged, driving the need for SmCo magnets. This recovery is bolstered by increased investments in technology and infrastructure.
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The competitive landscape of the SmCo magnet market is characterized by a wide spectrum of participants competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established electronics manufacturers, specialized SmCo magnet companies, and emerging start-ups aiming to disrupt the market with creative techniques.
Top Companies Market Share in SmCo Magnet Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to the burgeoning automotive and aerospace industries. These sectors require high-performance magnets for electric vehicles and defense applications, leveraging SmCo's thermal stability and magnetic strength. Additionally, advancements in electronics and renewable energy technologies further bolster market growth.
Asia Pacific stands out as the fastest-growing region in the SmCo magnet market due to the region's expanding automotive sector, particularly electric vehicles, and advancements in electronics and renewable energy technologies. China's dominance, supported by abundant rare earth reserves and strong manufacturing capabilities, further fuels market growth.
The current report Scope analyzes SmCo Magnet Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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As per the current market study, out of xxxx Million USD global market revenue 2025, North America market holds xx% of the market share. The North America SmCo Magnet industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top North America countries for 2025,Canada (xx%), United States (xx%), Mexico (xx%)
According to Cognitive Market Research, the global SmCo magnet market size was estimated at USD 15684.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 6273.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
As per the current market study, out of xxxx Million USD global market revenue 2025, Europe market holds xx% of the market share. The Europe SmCo Magnet industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top Europe countries for 2025,Spain (xx%), United Kingdom (xx%), Russia (xx%), Italy (xx%), Germany (xx%), France (xx%), Rest of Europe (xx%)
According to Cognitive Market Research, the global SmCo magnet market size was estimated at USD 15684.2 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 4705.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
As per the current market study, out of xxxx Million USD global market revenue 2025, Asia Pacific market holds xx% of the market share. The Asia Pacific SmCo Magnet industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top Asia Pacific countries for 2025,China (xx%), Australia (xx%), India (xx%), Korea (xx%), Japan (xx%), Rest of APAC (xx%)
According to Cognitive Market Research, the global SmCo magnet market size was estimated at USD 15684.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 3607.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
As per the current market study, out of xxxx Million USD global market revenue 2025, South America market holds xx% of the market share. The South America SmCo Magnet industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top South America countries for 2025,Colombia (xx%), Argentina (xx%), Brazil (xx%), Chile (xx%), Peru (xx%), Rest of South America (xx%)
According to Cognitive Market Research, the global SmCo magnet market size was estimated at USD 15684.2 Million, out of which Latin America market of more than 5% of the global revenue with a market size of USD 784.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.
As per the current market study, out of xxxx Million USD global market revenue 2025, Middle East and Africa market holds xx% of the market share. The Middle East and Africa SmCo Magnet industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR. If we look at the percentage market shares of top Middle East and Africa countries for 2025,GCC Countries (xx%), Turkey (xx%), South Africa (xx%), Egypt (xx%), Nigeria (xx%), Rest of MEA (xx%)
According to Cognitive Market Research, the global SmCo magnet market size was estimated at USD 15684.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 313.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
Global SmCo Magnet Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing SmCo Magnet Industry growth. SmCo Magnet market has been segmented with the help of its Product Type, Application , and others. SmCo Magnet market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, rings are the dominating category due to the advancements in electric vehicles, renewable energy (wind turbines), aerospace, and electronics due to their high magnetic strength and thermal stability. The growth is further supported by technological innovations and increasing demand in China, a leading producer due to its abundant rare earth resources.
Cylinder emerged as the fastest-growing category over the projected period due to rising applications of SmCo magnets in motors, sensors, and medical devices. Their high coercivity and thermal stability. Their compact size and efficient performance in harsh conditions make them ideal for aerospace, automotive, and renewable energy sectors, fueling market expansion.
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Application Segment Analysis
According to Cognitive Market Research, the dominating category is automotive due to their high heat resistance and durability, crucial for electric vehicle (EV) motors, sensors, and actuators. The market is driven by EV adoption and stringent efficiency requirements, propelling demand for compact, powerful magnets. As EV technology advances, SmCo magnets offer a sustainable solution, supporting the industry's transition towards cleaner, more efficient transportation.
The fastest-growing category in the SmCo magnet market is consumer electronics over the projected period due to advancements in miniaturization, enhanced functionality, and energy efficiency. SmCo magnets, known for high performance at high temperatures and strong magnetic fields, are increasingly utilized in electronic devices, contributing to durability and efficiency in gadgets like smartphones, wearables, and audio systems.
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Conclusion
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Product Type | Cylinder, Ring, Others |
Application | General Industrial, Consumer Electronics, Medical Technology, Automotive, Aerospace & Defense, Environment & Energy, Others |
List of Competitors | International MagnaProducts, Inc. (United States), Master Magnetics, Inc. (United States), Arnold Magnetic Technologies (United States), Alliance LLC (United States), Eriez (United States), Integrated Magnetics (United States), TyTek Industries (United States), A and A Magnetics Inc. (Ireland), ALL Magnetics, Inc. (Canada), ADAMS Magnetic Products (United States) |
This chapter will help you gain GLOBAL Market Analysis of SmCo Magnet. Further deep in this chapter, you will be able to review Global SmCo Magnet Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of SmCo Magnet. Further deep in this chapter, you will be able to review North America SmCo Magnet Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of SmCo Magnet. Further deep in this chapter, you will be able to review Europe SmCo Magnet Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of SmCo Magnet. Further deep in this chapter, you will be able to review Asia Pacific SmCo Magnet Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of SmCo Magnet. Further deep in this chapter, you will be able to review South America SmCo Magnet Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of SmCo Magnet. Further deep in this chapter, you will be able to review Middle East and Africa SmCo Magnet Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of SmCo Magnet. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
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.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global SmCo Magnet market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Cylinder have a significant impact on SmCo Magnet market? |
What are the key factors affecting the Cylinder and Ring of SmCo Magnet Market? |
What is the CAGR/Growth Rate of General Industrial during the forecast period? |
By type, which segment accounted for largest share of the global SmCo Magnet Market? |
Which region is expected to dominate the global SmCo Magnet Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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