Global Rare Earth Magnet Market Growth 2025-2031

Global Rare Earth Magnet Market Growth 2025-2031

The global Rare Earth Magnet market size is predicted to grow from US$ 12250 million in 2025 to US$ 22780 million in 2031; it is expected to grow at a CAGR of 10.9% from 2025 to 2031.

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.

LP Information, Inc. (LPI) ' newest research report, the “Rare Earth Magnet Industry Forecast” looks at past sales and reviews total world Rare Earth Magnet sales in 2024, providing a comprehensive analysis by region and market sector of projected Rare Earth Magnet sales for 2025 through 2031. With Rare Earth Magnet sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Rare Earth Magnet industry.

This Insight Report provides a comprehensive analysis of the global Rare Earth Magnet landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Rare Earth Magnet portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Rare Earth Magnet market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Rare Earth Magnet and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Rare Earth Magnet.

This report presents a comprehensive overview, market shares, and growth opportunities of Rare Earth Magnet market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Sintered Rare Earth Magnet
Bonded Rare Earth Magnet
Hot Pressed Rare Earth Magnet

Segmentation by Application:
EV
Automotive other than EV
Home Appliance
Aerospace & Defense
Wind Energy
Consumer Goods & Electronics
Industrial Machinery
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
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

Key Questions Addressed in this Report

What is the 10-year outlook for the global Rare Earth Magnet market?

What factors are driving Rare Earth Magnet market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Rare Earth Magnet market opportunities vary by end market size?

How does Rare Earth Magnet break out by Type, by Application?