Global Samarium-Cobalt Magnet Market Growth 2025-2031

Global Samarium-Cobalt Magnet Market Growth 2025-2031

The global Samarium-Cobalt Magnet market size is predicted to grow from US$ 487 million in 2025 to US$ 629 million in 2031; it is expected to grow at a CAGR of 4.4% from 2025 to 2031.

Samarium-Cobalt (SmCo) magnets, developed in the early 1960s by Dr. Karl Strnat and Dr. Alden Rey, are a type of rare earth permanent magnet composed of an alloy of samarium and cobalt. Known for their high magnetic strength and superior temperature stability, SmCo magnets exhibit remanence comparable to neodymium magnets but with enhanced performance in high-temperature environments. These magnets come in two primary types: SmCo 1:5 and SmCo 2:17, each with specific properties and applications. The SmCo 1:5 variant offers a balance of performance and cost, while the SmCo 2:17 variant provides even higher magnetic strength and temperature resistance. Major global producers such as Shin-Etsu and VAC have established themselves as key players in the market, supplying these critical materials to various industries.

The manufacturing bases of Samarium-Cobalt Magnet concentrated distribution in China, USA and Japan; some of the key players dominating this market are Hitachi Metals Group, Shin-Etsu, HPMG, NGYC, CO-STAR and Tianhe Magnetics. Samarium-Cobalt Magnet has the largest application proportion in the field of industrial machinery, with a market share of over 40%. Samarium-Cobalt Magnet has the highest sales volume in the Asia-Pacific region, with a market share close to 85%.Looking to the future, the demand for SmCo magnets is anticipated to grow significantly, driven by the ongoing advancements in the aerospace and defense sectors. As aerospace and defense applications increasingly require materials that can withstand extreme conditions while maintaining high magnetic performance, SmCo magnets are positioned to become a preferred choice. The narrowing price gap between SmCo and neodymium (NdFeB) magnets has led more manufacturers to invest in SmCo production, recognizing its superior qualities and expanding applications. Moreover, environmental pressures and rising production costs in developed nations are shifting the rare earth supply chain toward China, where a significant portion of rare earth materials is sourced. This trend highlights the critical role of SmCo magnets in meeting the evolving needs of high-performance applications, particularly in demanding industries such as aerospace and defense.

As the technological landscape evolves, the role of Samarium-Cobalt magnets continues to expand across various cutting-edge applications. The aerospace and defense sectors are major drivers of demand due to their need for materials that can maintain high performance under extreme conditions, including high temperatures and harsh environments. SmCo magnets are particularly valued in these industries for their ability to operate reliably in temperatures that can exceed the limits of other magnetic materials. This makes them ideal for use in advanced avionics, satellite systems, and military equipment where precision and durability are crucial. Additionally, the growing interest in electric and hybrid vehicles, where efficient and reliable magnetic components are essential, is likely to further boost the demand for SmCo magnets. As these vehicles require high-performance magnets for motors and actuators, SmCo’s superior temperature stability and magnetic strength offer significant advantages. Furthermore, as global efforts to reduce environmental impacts and improve energy efficiency intensify, SmCo magnets are poised to play a vital role in sustainable technology solutions. Their ability to enhance performance in smaller and more efficient designs aligns with the industry's push towards greener technologies. This trend underscores the increasing importance of SmCo magnets not only in traditional high-performance applications but also in emerging sectors focused on innovation and sustainability.

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

This Insight Report provides a comprehensive analysis of the global Samarium-Cobalt 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 Samarium-Cobalt Magnet portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Samarium-Cobalt Magnet market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Samarium-Cobalt 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 Samarium-Cobalt Magnet.

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

Segmentation by Type:
SmCo5
Sm2Co17

Segmentation by Application:
Aerospace & Defense
Automotive
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.
Shin-Etsu
VAC
Galaxy Magnetic
HPMG
NGYC
CO-STAR
Tianhe Magnetics
Electron Energy Corp
Arnold Magnetic

Key Questions Addressed in this Report

What is the 10-year outlook for the global Samarium-Cobalt Magnet market?

What factors are driving Samarium-Cobalt Magnet market growth, globally and by region?

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

How do Samarium-Cobalt Magnet market opportunities vary by end market size?

How does Samarium-Cobalt Magnet break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.