Advanced Magnetic Materials Market by Type (Alnico Magnets, Ferrite Magnets, Rare-earth Magnets), End-use (Automotive, Electronics, Industrial) - Global Forecast 2024-2030

Advanced Magnetic Materials Market by Type (Alnico Magnets, Ferrite Magnets, Rare-earth Magnets), End-use (Automotive, Electronics, Industrial) - Global Forecast 2024-2030

The Advanced Magnetic Materials Market size was estimated at USD 23.22 billion in 2023 and expected to reach USD 25.17 billion in 2024, at a CAGR 8.79% to reach USD 41.91 billion by 2030.

Advanced magnetic materials are a class of highly engineered materials that possess superior magnetic properties compared to traditional magnetic substances. They are at the forefront of magnetic research and technology and include materials such as rare-earth magnets such as neodymium and samarium-cobalt, amorphous and nanocrystalline magnetic materials, magnetic shape memory alloys, and magnetic composite materials. The push for energy-efficient devices and renewable energy applications is driving demand for advanced magnetic materials. In addition, the consumption of electronic products, renewable energy technologies, and automobiles increases the demand for advanced magnetic materials. However, the extraction and processing of rare-earth materials pose significant environmental risks, leading to regulatory challenges. Furthermore, continuous research and development to improve the performance of magnetic materials contribute significantly to market growth.

Regional Insights

The North American region is at the forefront of the development and application of advanced magnetic materials. Consumer needs in the American region are primarily driven by the tech industry, military applications, and sustainable energy initiatives. In this context, significant investment into R&D by both the government and private sectors is evident, with an emphasis on reducing dependency on rare earth elements. The EU's focus on environmental sustainability and reducing carbon emissions has led to a budding market for advanced magnetic materials. High demand is seen in the automotive, wind power, and consumer electronics sectors. The Middle East and Africa have great potential in the advanced magnetic materials market, albeit with varied regional characteristics. The Middle East, with its strong oil and gas industry, is gradually branching out into renewable energy, which could spur demand for advanced magnetics in the near future. Asia Pacific is a powerhouse in the advanced magnetic materials market, with China leading the way. China's vast manufacturing sector, aggressive government policies on electric vehicles (EVs), and electronics industry drive demand. The country is also home to the largest deposits of rare earth elements, which are pivotal in producing high-performance magnets. Companies across the APAC region are frontrunners in technological advances in this field, focusing on energy efficiency and high performance.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Advanced Magnetic Materials Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising demand of soft magnetic material in automotive sector
• Growing manufacturing activities and rapid infrastructural developments
• Increasing demand for energy-efficient devices and renewable energy applications

Market Restraints

• High cost associated with the advanced magnetic raw material

Market Opportunities

• Continuous research and development to improve the performance of magnetic materials
• Government initiatives for increasing the power generation capacity

Market Challenges

• Regulatory challenges associated with the extraction and processing of rare-earth materials

Market Segmentation Analysis

• Type: Growing preference of rare-earth Magnets in automotive due to its compact size and maximum magnetic strength
• End-use: Expansion of automotive sector driving the adoption of advanced magnetic materials

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Advanced Magnetic Materials Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Advanced Magnetic Materials Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

AML announces groundbreaking US production plan for permanent magnets

Advanced Magnet Lab, Inc. has significantly advanced its magnet technology capabilities, setting the stage for a transformative impact on the industry of permanent magnets. At the heart of their achievements is the PM-Wire technology, a versatile, scalable, and modular process capable of producing high-quality non-sintered and sintered permanent magnets. This innovation offers unparalleled flexibility for various applications, especially in electric motors where it presents unprecedented configurations and material compositions, marking a new industry standard.

Ara Partners Acquires Vacuumschmelze, Leading Global Advanced Magnetic Materials Producer

Ara Partners, a private equity firm with a focus on decarbonization, has announced its strategic acquisition of Vacuumschmelze (VAC), a luminary in the production of advanced magnetic materials, including being the chief producer of rare earth permanent magnets in the Western Hemisphere. VAC epitomizes a century of innovation, amassing an extensive patent portfolio and forging solid relationships with top-tier clients in the automotive, renewable energy, automation, medical, and aerospace domains.

Neo Performance Materials Agrees to Acquire Leading European Magnet Manufacturer

Neo Performance Materials Inc. announces the strategic acquisition of a 90% stake in SG Technologies Group Limited (SGTec), an European manufacturer of advanced, specialty magnets. The acquisition, which aims to enhance Neo's presence in the European rare earth processing and magnet manufacturing sector, is slated for completion by April 21, 2023. With this move, Neo leverages SGTec's expertise in producing specialty magnets across various industries including automotive, electronics, and consumer products.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Advanced Magnetic Materials Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Advanced Magnetic Materials Market, highlighting leading vendors and their innovative profiles. These include Advanced Magnet Lab, Inc., AMES GROUP Sintering, Anhui Sinomag Technology Co. Ltd., Arnold Magnetic Technologies Corporation, Daido Steel Co., Ltd．, Electron Energy Corporation, FJ Industries A/S, Fluxtrol Inc., Hitachi, Ltd., KN Powder Metallurgy, Kumar Magnet Industries, Lynas Rare Earths, Ltd., MATE CO., LTD, Neo Performance Materials Inc., Ningbo Yunsheng Co. Ltd., Shin-Etsu Chemical Co., Ltd., Sintex a/s, Steward Advanced Materials LLC, TDK Corporation, Tengam Engineering, Inc., Toshiba Materials Co., Ltd, TRU Group, Vacuumschmelze GmbH & Co. KG, and voestalpine High Performance Metals GmbH.

Market Segmentation & Coverage

This research report categorizes the Advanced Magnetic Materials Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
• Alnico Magnets
• Ferrite Magnets
• Rare-earth Magnets
• End-use
• Automotive
• Electronics
• Industrial
• Medical
• Power Generation
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year