Magnet Market Size, Share, and Outlook, 2025 Report- By Type (Neodymium Iron Boron Magnet, Ferrite Magnet, Samarium Cobalt Magnet, Alnico Magnet, Others), By End-User (Consumer Electronics, Industrial, Automotive, Medical Technology, Others), 2018-2032

Magnet Market Outlook

Magnet Market Size is forecast to reach $49.9 Billion in 2032 from $28 Billion in 2025, at an optimistic growth rate of 8.5% from 2025 to 2032. The robust Magnet Market growth presents potential growth opportunities for companies across the industry value chain.

The comprehensive market research report presents 12-year historic and forecast data on Magnet Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Type (Neodymium Iron Boron Magnet, Ferrite Magnet, Samarium Cobalt Magnet, Alnico Magnet, Others), By End-User (Consumer Electronics, Industrial, Automotive, Medical Technology, Others). Over 70 tables and charts showcase findings from our latest survey report on Magnet Markets.

Magnet Market Insights, 2025: Magnet: Key Drivers and Opportunities

The magnet market is seeing rapid expansion driven by advancements in technology, particularly in sectors such as electronics, renewable energy, and automotive industries. Magnets are a crucial component in the electric vehicle (EV) market, as they are used in motors, batteries, and charging systems. The global shift towards clean energy and the adoption of EVs are major catalysts for the demand for permanent magnets, especially neodymium magnets. As automakers and energy companies continue to invest in renewable technologies like wind turbines, which rely heavily on magnets, this trend is expected to continue driving market growth.

The growth in electronics is another significant driver, with smartphones, computers, and wearable technologies requiring ever-increasing quantities of high-performance magnets. The demand for miniaturized magnets in these devices is creating opportunities for innovation in magnet manufacturing techniques, which are essential to meet the size and performance requirements of modern consumer electronics. Additionally, there is increasing focus on recycling and sustainability within the magnet industry, with opportunities to recover rare earth metals used in permanent magnets from end-of-life products. The ongoing development of rare earth magnet alternatives and next-generation magnet technologies offers promising growth potential in various applications.

Five Trends that will define global Magnet Market in 2025 and Beyond

A closer look at the multi-million global market for Magnet Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Magnet Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.

What are the biggest opportunities for growth in the Magnet Industry?

The Magnet Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.

Magnet Market Segment Insights

The Magnet Industry presents strong offers across categories. The analytical report offers forecasts of Magnet Industry performance across segments and countries. Key segments in the industry include- By Type (Neodymium Iron Boron Magnet, Ferrite Magnet, Samarium Cobalt Magnet, Alnico Magnet, Others), By End-User (Consumer Electronics, Industrial, Automotive, Medical Technology, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.

Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Magnet Market size outlook is provided for 22 countries across these regions.

Magnet Industry Value Chain

The chapter identifies potential companies and their operations across the global Magnet Industry ecosystem. It assists decision-makers in evaluating global Magnet Market fundamentals, market dynamics, and disruptive trends across the value chain segments.

Scenario Analysis and Forecasts

Strategic decision-making in the Magnet Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.

Asia Pacific Magnet Market Analysis- A Promising Growth Arena for Business Expansion

As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.

The State of Europe Magnet Industry 2025- Focus on Accelerating Competitiveness

As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Magnet Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Magnet Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.

The US Magnet Market Insights- Executives are most excited about opportunities for the US Magnet Industry.

Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Magnet Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Magnet Market.

Latin American Magnet Market outlook rebounds in line with economic growth.

Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.

Middle East and Africa Magnet Markets- New Opportunities for Companies Harnessing Diversity

Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Magnet Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Magnet Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.

Competitive Landscape- How Magnet Companies outcompete in 2025 and Beyond?

The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include AK Steel Corp, Daido Steel Co. Ltd, Electron Energy Corp, Hitachi Metals Ltd, Magnequench International LLC, Ningbo Vastsky Magnet, Shin-Etsu Chemicals Co, Steward Advanced Materials LLC, TDK Corp, Tengam, Toshiba Materials Co. Ltd, Zhejiang Kaiven Magnet Co Ltd.

Magnet Market Scope and Segmentation

By Type

Neodymium Iron Boron Magnet

Ferrite Magnet

Samarium Cobalt Magnet

Alnico Magnet

Others

By End-User

Consumer Electronics

Industrial

Automotive

Medical Technology

Others

Countries Included-

North America- US, Canada, Mexico

Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe

Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC

South and Central America- Brazil, Argentina, Chile, Rest of SCA

Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa

Companies Included in the Magnet Market Research-

AK Steel Corp

Daido Steel Co. Ltd

Electron Energy Corp

Hitachi Metals Ltd

Magnequench International LLC

Ningbo Vastsky Magnet

Shin-Etsu Chemicals Co

Steward Advanced Materials LLC

TDK Corp

Tengam

Toshiba Materials Co. Ltd

Zhejiang Kaiven Magnet Co Ltd

Reasons to Buy the report

  • Make informed decisions through long and short-term forecasts across 22 countries and segments.
  • Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
  • Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
  • Get an integrated understanding of the entire market ecosystem and companies.
  • Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
  • Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
  • Get free Excel spreadsheet and PPT versions along with the report PDF.


1. Table of Contents
List of Figures and Tables
2. Executive Summary
2.1 Key Highlights
2.1.1 Magnet Market Size Outlook, 2018-2024 and 2025-2032
2.1.2 Largest Magnet Market Types and Applications
2.1.3 Fastest Growing Segments
2.1.4 Potential Markets
2.1.5 Market Concentration
2.2 Market Scope and Segmentation
2.2.1 Market Scope- Segments
2.2.2 Market Scope- Countries
2.2.3 Macroeconomic and Demographic Outlook
2.2.4 Abbreviations
2.2.5 Units and Currency Conversions
3. Research Methodology
3.1 Primary Research Surveys
3.2 Secondary Data Sources
3.3 Data Triangulation
3.4 Forecast Methodology
3.5 Assumptions and Limitations
4. Introduction to Global Magnet Market in 2025
4.1 Industry Panorama
4.2 Leading Companies Profiled in the Study
4.3 Asia Pacific Markets offer Robust Market Prospects for New Entrants
4.4 Market Dynamics
4.4.1 Market Dynamics- Trends and Drivers
4.4.2 Market Dynamics- Opportunities and Challenges
4.5 Regional Analysis
4.6 Porter’s Five Force Analysis
4.6.1 Intensity of Competitive Rivalry
4.6.2 Threat of New Entrants
4.6.3 Threat of Substitutes
4.6.4 Bargaining Power of Buyers
4.6.5 Bargaining Power of Suppliers
4.7 Magnet Industry Value Chain Analysis
4.7.1 Stage of Value Chain
4.7.2 Key Activities of Companies
4.7.3 Companies Included in Each Stage
4.7.4 Key Insights
5. Magnet Market Outlook to 2032
5.1 Market Size Forecast by Type, 2021-2024 and 2025-2032
5.2 Market Size Forecast by Application, 2021-2024 and 2024-2032
5.3 Market Size Forecast by Geography, 2021-2024 and 2024-2032
By Type
Neodymium Iron Boron Magnet
Ferrite Magnet
Samarium Cobalt Magnet
Alnico Magnet
Others
By End-User
Consumer Electronics
Industrial
Automotive
Medical Technology
Others
6. Global Magnet Market Outlook across Growth Scenarios
6.1 Low Growth Scenario
6.2 Base/Reference Case
6.3 High Growth Scenario
6. North America Magnet Market Size Outlook
6.1 Key Market Statistics, 2024
6.2 North America Magnet Market Trends and Growth Opportunities
6.2.1 North America Magnet Market Outlook by Type
6.2.2 North America Magnet Market Outlook by Application
6.3 North America Magnet Market Outlook by Country
6.3.1 The US Magnet Market Outlook, 2021- 2032
6.3.2 Canada Magnet Market Outlook, 2021- 2032
6.3.3 Mexico Magnet Market Outlook, 2021- 2032
7. Europe Magnet Market Size Outlook
7.1 Key Market Statistics, 2024
7.2 Europe Magnet Market Trends and Growth Opportunities
7.2.1 Europe Magnet Market Outlook by Type
7.2.2 Europe Magnet Market Outlook by Application
7.3 Europe Magnet Market Outlook by Country
7.3.2 Germany Magnet Market Outlook, 2021- 2032
7.3.3 France Magnet Market Outlook, 2021- 2032
7.3.4 The UK Magnet Market Outlook, 2021- 2032
7.3.5 Spain Magnet Market Outlook, 2021- 2032
7.3.6 Italy Magnet Market Outlook, 2021- 2032
7.3.7 Russia Magnet Market Outlook, 2021- 2032
7.3.8 Rest of Europe Magnet Market Outlook, 2021- 2032
8. Asia Pacific Magnet Market Size Outlook
8.1 Key Market Statistics, 2024
8.2 Asia Pacific Magnet Market Trends and Growth Opportunities
8.2.1 Asia Pacific Magnet Market Outlook by Type
8.2.2 Asia Pacific Magnet Market Outlook by Application
8.3 Asia Pacific Magnet Market Outlook by Country
8.3.1 China Magnet Market Outlook, 2021- 2032
8.3.2 India Magnet Market Outlook, 2021- 2032
8.3.3 Japan Magnet Market Outlook, 2021- 2032
8.3.4 South Korea Magnet Market Outlook, 2021- 2032
8.3.5 Australia Magnet Market Outlook, 2021- 2032
8.3.6 South East Asia Magnet Market Outlook, 2021- 2032
8.3.7 Rest of Asia Pacific Magnet Market Outlook, 2021- 2032
9. South America Magnet Market Size Outlook
9.1 Key Market Statistics, 2024
9.2 South America Magnet Market Trends and Growth Opportunities
9.2.1 South America Magnet Market Outlook by Type
9.2.2 South America Magnet Market Outlook by Application
9.3 South America Magnet Market Outlook by Country
9.3.1 Brazil Magnet Market Outlook, 2021- 2032
9.3.2 Argentina Magnet Market Outlook, 2021- 2032
9.3.3 Rest of South and Central America Magnet Market Outlook, 2021- 2032
10. Middle East and Africa Magnet Market Size Outlook
10.1 Key Market Statistics, 2024
10.2 Middle East and Africa Magnet Market Trends and Growth Opportunities
10.2.1 Middle East and Africa Magnet Market Outlook by Type
10.2.2 Middle East and Africa Magnet Market Outlook by Application
10.3 Middle East and Africa Magnet Market Outlook by Country
10.3.1 Saudi Arabia Magnet Market Outlook, 2021- 2032
10.3.2 The UAE Magnet Market Outlook, 2021- 2032
10.3.3 Rest of Middle East Magnet Market Outlook, 2021- 2032
10.3.4 South Africa Magnet Market Outlook, 2021- 2032
10.3.5 Egypt Magnet Market Outlook, 2021- 2032
10.3.6 Rest of Africa Magnet Market Outlook, 2021- 2032
11. Company Profiles
11.1 Leading 10 Companies
AK Steel Corp
Daido Steel Co. Ltd
Electron Energy Corp
Hitachi Metals Ltd
Magnequench International LLC
Ningbo Vastsky Magnet
Shin-Etsu Chemicals Co
Steward Advanced Materials LLC
TDK Corp
Tengam
Toshiba Materials Co. Ltd
Zhejiang Kaiven Magnet Co Ltd
11.2 Overview
11.3 Products and Services
11.4 SWOT Profile
12. Appendix
12.1 Subscription Options
12.2 Customization Options
12.3 Publisher Details

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