Global Rare Earth Magnet Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031
According to our (Global Info Research) latest study, the global Rare Earth Magnet market size was valued at US$ 12830 million in 2024 and is forecast to a readjusted size of USD 23140 million by 2031 with a CAGR of 10.3% during review period.
Rare earth magnets, such as neodymium-iron-boron (NdFeB) magnets, are a type of high-performance permanent magnet that are critical to various advanced technologies. These magnets are composed of an alloy containing neodymium, iron, and boron. They are known for their exceptionally strong magnetic fields and high resistance to demagnetization, making them indispensable in numerous applications ranging from consumer electronics to industrial machinery.
Rare earth magnets are a subset of permanent magnets that utilize rare earth elements to achieve superior magnetic properties. Among these, the most prominent are NdFeB magnets, which offer the highest magnetic strength of any permanent magnets available. The rare earth elements used in these magnets are neodymium, dysprosium, and praseodymium. These materials are incorporated into the magnetic alloy to enhance the magnet’s overall performance, including its magnetic field strength, temperature stability, and coercivity (resistance to becoming demagnetized).
Growth Driven by Clean Energy and Electrification:
The global push towards carbon neutrality and the reduction of greenhouse gas emissions has significantly impacted the demand for rare earth magnets. The electrification of transport, especially the rapid expansion of the electric vehicle (EV) market, has been a primary driver of this demand. Electric motors in EVs rely heavily on high-performance NdFeB magnets for their efficiency and power. Similarly, wind turbines, which are essential for harnessing renewable energy, use these magnets to optimize energy conversion and improve turbine efficiency.
Expansion in Consumer Electronics and Industrial Applications:
The rise in consumer electronics, such as smartphones, tablets, and laptops, has also contributed to the increased demand for rare earth magnets. These magnets are used in various components, including speakers, microphones, and hard disk drives. In industrial applications, rare earth magnets are crucial for advanced robotics, sensors, and precision instruments, where their compact size and high magnetic strength provide a significant advantage.
Technological Advancements and Material Innovations:
Ongoing research and development in magnet technology are leading to innovations that improve the performance and cost-effectiveness of rare earth magnets. Advances in material science aim to enhance the magnetic properties and thermal stability of these magnets while reducing their reliance on rare and expensive elements. This includes efforts to develop alternative materials and recycling methods to address supply chain challenges and environmental concerns.
Supply Chain and Environmental Considerations:
The production of rare earth magnets involves the extraction and processing of rare earth elements, which are often associated with environmental and geopolitical issues. As a result, there is growing interest in sustainable practices and responsible sourcing. Efforts are being made to improve recycling techniques and develop more environmentally friendly extraction methods to mitigate the impact of rare earth mining.
In summary, rare earth magnets, are pivotal in the advancement of modern technology. Their unique properties drive their application across various sectors, including clean energy, consumer electronics, and industrial automation. As the demand for high-performance, energy-efficient technologies grows, the rare earth magnet market is poised for continued expansion, guided by innovations in materials science and sustainability practices.
This report is a detailed and comprehensive analysis for global Rare Earth Magnet market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Rare Earth Magnet market size and forecasts, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/Kg), 2020-2031
Global Rare Earth Magnet market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/Kg), 2020-2031
Global Rare Earth Magnet market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K MT), and average selling prices (USD/Kg), 2020-2031
Global Rare Earth Magnet market shares of main players, shipments in revenue ($ Million), sales quantity (K MT), and ASP (USD/Kg), 2020-2025
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Rare Earth Magnet
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Rare Earth Magnet market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Hitachi Metals Group, Shin-Etsu, TDK, VAC, Beijing Zhong Ke San Huan Hi-Tech, Yunsheng Company, YSM, JL MAG, ZHmag, Jingci Material Science, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Rare Earth Magnet market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Sintered Rare Earth Magnet
Bonded Rare Earth Magnet
Hot Pressed Rare Earth Magnet
Market segment by Application
EV
Automotive other than EV
Home Appliance
Aerospace & Defense
Wind Energy
Consumer Goods & Electronics
Industrial Machinery
Others
Major players covered
Hitachi Metals Group
Shin-Etsu
TDK
VAC
Beijing Zhong Ke San Huan Hi-Tech
Yunsheng Company
YSM
JL MAG
ZHmag
Jingci Material Science
AT&M
NBJJ
Innuovo Magnetics
SGM
Galaxy Magnetic
Zhejiang Zhongyuan Magnetic Industry Limited
Earth- Panda
Magsuper
Daido Electronics
Tianhe Magnetics
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Rare Earth Magnet product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Rare Earth Magnet, with price, sales quantity, revenue, and global market share of Rare Earth Magnet from 2020 to 2025.
Chapter 3, the Rare Earth Magnet competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Rare Earth Magnet breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Rare Earth Magnet market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Rare Earth Magnet.
Chapter 14 and 15, to describe Rare Earth Magnet sales channel, distributors, customers, research findings and conclusion.