Permanent Magnet Market Size, Share, Growth Analysis, By Type (Samarium Cobalt magnet, Ferrite magnet), By End-Use Industries (Consumer Electronics, Automotive), By Region - Industry Forecast 2025-2032
Anhui Earth-Panda Advance Magnetic Material Co., Ltd.
Molycorp Magnequench
Alpha Magnet
Tengam Engineering, Inc.
Bunting Magnetics Co.
Tridus Magnetics and Assemblies
Integrated Magnetics
Lynas Corporation Ltd.
Magnequench International, LLC
GKN Powder Metallurgy
Solvay
°á·Ð ¹× ±ÇÀå»çÇ×
AJY
¿µ¹® ¸ñÂ÷
¿µ¹®¸ñÂ÷
Permanent Magnet Market size was valued at USD 38.19 Billion in 2023 and is poised to grow from USD 41.44 Billion in 2024 to USD 79.58 Billion by 2032, growing at a CAGR of 8.5% during the forecast period (2025-2032).
Permanent magnets, characterized by their ability to retain magnetic properties without an external magnetizing force, play a crucial role in various industries. These stable magnets, often referred to as hard magnets, boast high magnetic moments and low permeability, making them essential for converting electrical energy into mechanical energy and vice versa. With a diverse range of types, including alloy, ferrite, and bonded magnets, their applications span motors, loudspeakers, household appliances, and HVAC systems. As demand for energy-efficient solutions rises, permanent magnets are increasingly integral to technological advancements, enhancing performance and reliability across multiple sectors. This ongoing reliance on permanent magnets highlights their significance in both consumer markets and industrial applications, ensuring sustained growth in this niche segment.
Top-down and bottom-up approaches were used to estimate and validate the size of the Permanent Magnet market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Permanent Magnet Market Segmental Analysis
Global Permanent Magnet Market is segmented by Type, End-Use Industries and region. Based on Type, the market is segmented into. Based on End-Use Industries, the market is segmented into automotive, consumer electronics, healthcare, agriculture, manufacturing, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Driver of the Permanent Magnet Market
The permanent magnet market is significantly driven by the growing demand for consumer electronics. As the popularity of devices like laptops, televisions, music systems, computers, and smartphones continues to surge, the need for permanent magnets increases correspondingly. These magnets are essential due to their unique properties such as attraction, repulsion, and efficient energy conversion, making them integral components in a wide array of consumer gadgets. The evolution of consumer preferences and ongoing technological advancements further bolster this demand, suggesting a robust market expansion throughout the forecast period as manufacturers respond to the escalating appetite for innovative electronic products.
Restraints in the Permanent Magnet Market
The Permanent Magnet market faces significant restraints primarily due to the volatility in raw material prices. The costs and quality of magnets are heavily influenced by the availability of alloys derived from rare-earth elements, alongside the rising energy expenses. Supply chain disruptions further compound these issues, making it challenging for manufacturers to deliver high-quality products at competitive rates. As a result, these factors are likely to hinder market growth in the foreseeable future, as companies struggle to navigate the unpredictable landscape of raw material procurement and maintain pricing strategies that meet market demands.
Market Trends of the Permanent Magnet Market
The Permanent Magnet market is poised for significant growth, driven primarily by the surging demand for hybrid electric vehicles (HEVs). With HEVs requiring 2 to 3 kg of rare earth magnets for their internal combustion engines and electric motors, the automotive sector's evolution towards sustainability is directly impacting magnet consumption. Furthermore, the application of permanent magnets extends beyond vehicles, finding utility in various components like speakers, electric window regulators, door locks, and windshield wipers. As the automotive industry embraces electrification trends, the heightened demand for magnets will likely catalyze market expansion and innovation across related sectors, positioning permanent magnets as vital to future advancements.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Driver & Opportunities
Restraints & Challenges
Porters Analysis & Impact
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Technological Advancement
Regulatory Landscape
Case Studies
Customer & Buying Criteria Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Global Permanent Magnet Market Size by Type & CAGR (2024-2032)
Market Overview
Neodymium Iron Boron Magnets
Ferrite Magnets
Samarium Cobalt Magnets
AlNiCo Magnets
Others
Global Permanent Magnet Market Size by End-Use Industries & CAGR (2024-2032)
Market Overview
Consumer Electronics
General Industrial
Automotive
Medical technology
Environment & Energy
Aerospace & Defense
Other end-use industries
Global Permanent Magnet Market Size & CAGR (2024-2032)
North America, (Type, End-Use Industries)
US
Canada
Europe, (Type, End-Use Industries)
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific, (Type, End-Use Industries)
China
India
Japan
South Korea
Rest of Asia Pacific
Latin America, (Type, End-Use Industries)
Brazil
Rest of Latin America
Middle East & Africa, (Type, End-Use Industries)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
Hitachi Metals, Ltd.
Company Overview
Business Segment Overview
Financial Updates
Key Developments
TDK Corporation
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Arnold Magnetic Technologies
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Adams Magnetic Products Co., Inc.
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Shin-Etsu Chemical Co., Ltd.
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Daido Steel Co., Ltd.
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Electron Energy Corporation
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Hangzhou Permanent Magnet Group
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Ningbo Yunsheng Co., Ltd.
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Anhui Earth-Panda Advance Magnetic Material Co., Ltd.