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Permanent Magnets Market

Global Permanent Magnets Market Size, Share, Growth, Report: By Type: Ferrite, Neodymium Iron Boron, Aluminum Nickel Cobalt, Samarium Cobalt; By End-Use: Computer Hard Disk Drives (HDD), CD, DVD, HVAC, Heating, Ventilating and Air Conditioners, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Permanent Magnets Market Outlook

The global permanent magnets market reached a volume of around 1,188.94 KMT in 2023 and expected to grow at a CAGR of around 3.8% during 2024-2032.

 

Permanent Magnets Market

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Heightened Demand in the Automotive Sector to Spur the Market Growth of Permanent Magnets

The market is being driven by the increased demand for permanent magnets in the automotive sector. Permanent magnets find extensive application in automobile production, as they are used in motors, actuators, sensors, and suspension systems to improve vehicle control systems. In this regard, the rising demand for passenger vehicles among individuals, fuelled by the rising disposable incomes and improved living standards, supplemented the market growth. Moreover, the increasing development of hybrid and electric vehicles is anticipated to supplement the market growth in the forecast period, with the growing customer demand for fuel and energy-efficient cars. Meanwhile, the heightened application of permanent magnets in consumer electronics is anticipated to prove beneficial for the market growth, with the rapid digitalisation and rising demand for digital devices by customers.

 

The Asia Pacific to Account for a Significant Share in the Global Market for Permanent Magnets

The Asia Pacific market is anticipated to account for a significant share of the global market for permanent magnets. China represented the biggest consumer and producer of all types of permanent magnets in 2020, accounting for majority of the total global permanent magnet volumes. This can be attributed to the availability of rare earth metals in the region. In addition, the rising investments in the development of sustainable energy generation plants also bolstered the demand for permanent magnets. Meanwhile, North America is anticipated to witness a considerable growth in the forecast period, with the increasing demand for consumer electronics in the region. Permanent magnets are the basis of an increasing number of devices in modern life. They are found in or used in the production of almost every modern device today, from air-conditioners and washing machines to speakers in mobile phones and electric motors in hybrid cars.

 

Market Segmentation

A permanent magnet is an object that can retain its magnetic characteristics even in the absence of a magnetising force. The magnetic field is generated by the internal structure of the material itself. These magnets are manufactured from special alloys such as iron, nickel, and cobalt and have low permeability. These magnets find usage in a number of industrial and commercial segments, such as in the manufacturing of loudspeakers, motors, and HVAC systems, among others.

 

Permanent Magnets Market By Segments

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By type, the market is divided into:

  • Ferrite 
  • Neodymium Iron Boron 
  • Aluminum Nickel Cobalt
  • Samarium Cobalt

Based on end use, the market can be segmented into:

  • Computer Hard Disk Drives (HDD), CD, DVD
  • Hybrid Electric Vehicles
  • Electric Bicycles
  • Heating, Ventilating and Air Conditioners (HVAC)
  • Wind Turbines
  • Others

 

Rising Applications in Diverse Sectors to Supplement the Demand for Permanent Magnets

The growing demand for permanent magnets in green energy generation applications is driving the market growth. They are increasingly used in essential components of renewable energy generation such as wind turbine generators and hybrid regenerative motors, among others. This trend is further fuelled by the growing government focus on reducing the dependency on fossil fuel-based energy resources and promoting the adoption of renewable energy resources such as wind and solar energy. Furthermore, the investments in the development of rare-earth-free permanent magnets are surging, as they offer cost-effectiveness, low supply risks, and promising magnetic properties. The ability of permanent magnets to maintain a large magnetic flux, even in the absence of an applied magnetising field, or upon modifications of the environment, be it temperature or demagnetising field, is a unique feature that can be employed in a wide variety of applications. The market is expected to be driven by advancements in information and communication technology, increasing demand for home appliances that use permanent magnets, wider usage of permanent magnets in medical devices, and increasing infrastructural development activities worldwide.

 

Permanent Magnets Market By Region

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Key Players in the Global Permanent Magnets Market

The report gives a detailed analysis of the following key players in the global permanent magnets market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Adams Magnetic Products Co.
  • Arnold Magnetic Technologies
  • The Bunting® Magnetics Co.
  • Advanced Technology & Materials Co., Ltd. (AT&M)
  • Hitachi Metals, Ltd.
  • Industrial Magnetics, Inc.
  • MASTER MAGNETICS, Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • End-Use
  • Region
Breakup by Type
  • Ferrite
  • Neodymium Iron Boron
  • Aluminum Nickel Cobalt
  • Samarium Cobalt
Breakup by End Use
  • Computer Hard Disk Drives (HDD), CD, DVD
  • Hybrid Electric Vehicles
  • Electric Bicycles
  • Heating, Ventilating and Air Conditioners (HVAC)
  • Wind Turbines
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Adams Magnetic Products Co.
  • Arnold Magnetic Technologies
  • The Bunting® Magnetics Co.
  • Advanced Technology & Materials Co., Ltd. (AT&M)
  • Hitachi Metals, Ltd.
  • Industrial Magnetics, Inc.
  • MASTER MAGNETICS, Inc.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Permanent Magnet Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Permanent Magnet Historical Market (2018-2023) 
    8.3    Global Permanent Magnet Market Forecast (2024-2032)
    8.4    Global Permanent Magnet Market by Type
        8.4.1    Ferrite
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Neodymium Iron Boron
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
        8.4.3    Aluminum Nickel Cobalt
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2023)
            8.4.3.3    Forecast Trend (2024-2032)
        8.4.4    Samarium Cobalt
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2023)
            8.4.4.3    Forecast Trend (2024-2032)
    8.5    Global Permanent Magnet Market by End-Use
        8.5.1    Computer Hard Disk Drives (HDD), CD, DVD
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    Hybrid Electric Vehicles
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
        8.5.3    Electric Bicycles
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2023)
            8.5.3.3    Forecast Trend (2024-2032)
        8.5.4    Heating, Ventilating and Air Conditioners (HVAC)
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2023)
            8.5.4.3    Forecast Trend (2024-2032)
        8.5.5    Wind Turbines
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2018-2023)
            8.5.5.3    Forecast Trend (2024-2032)
        8.5.6    Others
    8.6    Global Permanent Magnet Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2023)
        9.5.2    Forecast Trend (2024-2032)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code: 850511, 850519)

    12.1    Major Exporting Countries:
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume
13    Competitive Landscape
    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    Adams Magnetic Products Co.
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Arnold Magnetic Technologies
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    The Bunting® Magnetics Co.
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Advanced Technology & Materials Co., Ltd. (AT&M)
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    Hitachi Metals, Ltd.
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Industrial Magnetics, Inc.
            13.2.6.1    Company Overview
            13.2.6.2    Product Portfolio
            13.2.6.3    Demographic Reach and Achievements
            13.2.6.4    Certifications
        13.2.7    MASTER MAGNETICS, Inc.
            13.2.7.1    Company Overview
            13.2.7.2    Product Portfolio
            13.2.7.3    Demographic Reach and Achievements
            13.2.7.4    Certifications
        13.2.8    Others
14    Industry Events and Developments


List of Key Figures and Tables

1.    Global Permanent Magnet Market: Key Industry Highlights, 2018 and 2032
2.    Global Permanent Magnet Historical Market: Breakup by Type (Thousand Tons), 2018-2023
3.    Global Permanent Magnet Market Forecast: Breakup by Type (Thousand Tons), 2024-2032
4.    Global Permanent Magnet Historical Market: Breakup by End-Use (Thousand Tons), 2018-2023
5.    Global Permanent Magnet Market Forecast: Breakup by End-Use (Thousand Tons), 2024-2032
6.    Global Permanent Magnet Historical Market: Breakup by Region (Thousand Tons), 2018-2023
7.    Global Permanent Magnet Market Forecast: Breakup by Region (Thousand Tons), 2024-2032
8.    North America Permanent Magnet Historical Market: Breakup by Country (Thousand Tons), 2018-2023
9.    North America Permanent Magnet Market Forecast: Breakup by Country (Thousand Tons), 2024-2032
10.    Europe Permanent Magnet Historical Market: Breakup by Country (Thousand Tons), 2018-2023
11.    Europe Permanent Magnet Market Forecast: Breakup by Country (Thousand Tons), 2024-2032
12.    Asia Pacific Permanent Magnet Historical Market: Breakup by Country (Thousand Tons), 2018-2023
13.    Asia Pacific Permanent Magnet Market Forecast: Breakup by Country (Thousand Tons), 2024-2032
14.    Latin America Permanent Magnet Historical Market: Breakup by Country (Thousand Tons), 2018-2023
15.    Latin America Permanent Magnet Market Forecast: Breakup by Country (Thousand Tons), 2024-2032
16.    Middle East and Africa Permanent Magnet Historical Market: Breakup by Country (Thousand Tons), 2018-2023
17.    Middle East and Africa Permanent Magnet Market Forecast: Breakup by Country (Thousand Tons), 2024-2032
18.    Major Exporting Countries by Value
19.    Major Importing Countries by Value
20.    Major Exporting Countries by Volume
21.    Major Importing Countries by Volume
22.    Global Permanent Magnet Market Structure

Key Questions Answered in the Report

The global permanent magnets market witnessed a growth at a CAGR of about 3.8% between 2024 and 2032.

The major drivers of the market, such as the rising disposable incomes, increasing population, and the rising demand for end-use products, are expected to aid the industry growth.

The increasing demand for smart phones is expected to define the market growth in the coming years.

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions in the market.

The leading types of permanent magnets in the market are ferrite, neodymium iron boron, aluminium nickel cobalt, and samarium cobalt.

The major end-use sectors for permanent magnets in the industry are computer hard disk drives (HDD), CD, DVD, hybrid electric vehicles, electric bicycles, heating, ventilating and air conditioners (HVAC), and wind turbines, among others.

The major players in the market are Adams Magnetic Products Co., Arnold Magnetic Technologies, The Bunting® Magnetics Co., Advanced Technology & Materials Co., Ltd. (AT&M), Hitachi Metals, Ltd., Industrial Magnetics, Inc., MASTER MAGNETICS, Inc., Others.

Analyst Review

The global permanent magnets market reached a volume of nearly 1,188.94 KMT in 2023, driven by the rising disposable incomes, increasing population, and rising demand for end-use products. The industry is expected to witness a further growth at a CAGR of 3.8% during 2024-2032 to attain about 1663.16 KMT by 2032. The industry is projected to be driven by the increasing demand for smart phones.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of types, the market is divided into ferrite, neodymium iron boron, aluminium nickel cobalt and samarium cobalt. Based on end-use sectors, the market is segmented into computer hard disk drives (HDD), CD, DVD, hybrid electric vehicles, electric bicycles, heating, ventilating and air conditioners (HVAC), and wind turbines, among others. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Adams Magnetic Products Co., Arnold Magnetic Technologies, The Bunting® Magnetics Co., Advanced Technology & Materials Co., Ltd. (AT&M), Hitachi Metals, Ltd., Industrial Magnetics, Inc., MASTER MAGNETICS, Inc., Others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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