Global Bonded Magnet Market Analysis & Trends - Industry Forecast to 2030

Global Bonded Magnet Market Analysis & Trends - Industry Forecast to 2030

Bonded Magnet: Market Size

From $2.2 billion in 2024, the global Bonded Magnet market is projected to reach $3.9 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 9.8% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include demand for consumer electronics sector, advancements in 3d printing technology and rising demand in printing bonded magnets.

Global Bonded Magnet Market: Market Dynamics

The rise in acceptance of bonded magnets in the automotive industry, owing to their lightweight property, is driving the market. It plays a significant role in numerous electrical devices essential for everyday life. Magnets are used in speakers alongside a current-carrying coil, which changes electricity into mechanical energy that moves the speaker cone. This, in turn, changes the pressure of the surrounding air creating sound. Therefore, the rise in usage of bonded magnets in electronic devices is anticipated to boost the market. Additionally, they are playing a crucial role in computer hardware with data storage devices in particular. Furthermore, the strategies that are encouraged by the government play a major role in the increasing demand for hardware around the globe, and the 3D bonded magnet structures such as ring, bar, and horseshoe-type can be printed and cured in the air at 100°C without losing their magnetic properties are factors that are anticipated to further propel the growth of the market.

On the other hand, the presence of strong substitutes such as sintered magnet, likely to obstruct the profit boundaries. In addition, rising of the consumer electronics sector and companies are constantly updating their research and development activities to provide high-temperature tolerance in market, will further boost for the Bonded Magnet market.

Impact of COVID-19 on Bonded Magnet

Most industries across the world have been negatively impacted over the last few months. This can be attributed to significant disruptions experienced by their respective manufacturing and supply-chain operations as a result of various precautionary lockdowns, as well as other restrictions that were enforced by governing authorities across the globe. The same applies to the global Bonded Magnet market. Moreover, consumer demand has also subsequently reduced as individuals are now more keen on eliminating non-essential expenses from their respective budgets as the general economic status of most individuals have been severely affected by this outbreak. These elements are expected to burden the revenue trajectory of the global Bonded Magnet market over the forecast timeline. However, as respective governing authorities begin to lift these enforced lockdowns, the global Bonded Magnet market is expected to recover accordingly.

By End User

Electrical & Electronics Segment Dominate the Market in 2024

The Electrical & Electronics segment made huge revenue in 2024 and growing its prominence during the forecast period. Bonded magnets are widely used in most electronic devices due to their superior performance and cost-effectiveness when compared to substitutes such as sintered magnets. Bonded magnets are important components of all types of motors and sensors, which are essential parts of any electronic device.

By Geography

Asia Pacific Region is Leading in the Global Market Place

Asia Pacific region is likely to have a huge demand in the forecast period, owing to the rich deposit of rare-earth metals, like the samarium, neodymium, and dysprosium in the province. Moreover, the production of semiconductor chips and products, such as hard disks and other storage devices which will further boost the growth of the market in the area. The automotive industry, consumer electronics appliances, and electrical equipment segments are driving significant demand in the regional market. Further to that, the market is driven by government initiatives, which have resulted in various manufacturing behemoths such as HTC, Siemens, Toshiba, and GE establishing or in the process of establishing manufacturing plants in the province.

List of the Key Players Profiled in the Market Include:

• Advanced Technology Materials Co. Ltd.
• Alliance LLC
• Allstar Magnetics
• Arnold Magnetic Technologies
• Dexter Magnetic Technologies
• Evitron
• Hitachi, Ltd
• Magnequench International
• MS-Schramberg GmbH & Co. KG
• Stanford Magnets
• Viona Magnetics

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others