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Permanent Magnet Market Size & Forecast

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Historic: 2021-2023 Base Year: 2024 Forecast: 2025–2031
US$ 25.03 Billion
Market Size 2024 · Base Year
US$ 47.30 Billion
Projected Market Size by 2031
9.52%
CAGR · 2025–2031
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BMIRE00026228 56+ Countries Covered 10 Major Companies Profiled PEST & SWOT Analysis Competitive Heat Map
At a Glance

Report Coverage

56 +
Countries
56+ countries across North America, Europe, Asia-Pacific, South and Central America, Middle East and Africa
11
Year Assessment
Comprehensive Market Analysis Covering 3 Years of Historical Data (2021–2023), Base Year (2024), and 7-Year Forecast (2025–2031)
10 +
Major Players
Major companies profiled including Shin-Etsu Chemical, Hitachi Metals, Toyota Tsusho Corporation, General Electric, TDK Corp
350
Report Pages
Pages of deep-dive analysis with PEST, SWOT, competitive heat maps and datasets
What's Fueling Growth

Market Drivers

  • The Growth of Electric Vehicles

  • The Role of Permanent Magnets in Renewable Energy

  • Permanent Magnets in Consumer Electronics

Where Growth Opportunities Exist

Key Opportunities

  • Electric Vehicles Driving Demand for High-Performance Permanent Magnets in Motors

  • Renewable Energy Growth

  • Automation and Robotics

What Could Slow It Down

Market Restraints

  • Raw material volatilit

  • Supply risk

  • Price pressure

Market Segmentation

Coverage by Segment

Type

Neodymium-Iron-Boron
Ferrite
Samarium Cobalt

Application

Consumer Electronics
Automotive
Aerospace and Defense

Geography

North America
Europe
Asia Pacific
Geographic Breakdown

Regional Intelligence

NA North America
EU Europe
APAC Asia-Pacific
SCA South & Central America
MEA Middle East & Africa
Competitive Landscape

Major Market Players

Listed for reference — companies are not ranked in any particular order.

Shin-Etsu Chemical
Hitachi Metals
Toyota Tsusho Corporation
General Electric
TDK Corp
Armold Magnetic technologies
Galaxy Magnets
Goudsmit Magnetics
Electron Energy Corporation
Dexter Magnetic Technolgies
What's Inside

Report Scope & Deliverables

Market Size 2024 US$ 25.03 Billion
Market Size 2031 US$ 47.30 Billion
CAGR 2025–2031 9.52%
Segments By Type (Neodymium-Iron-Boron, Ferrite, Samarium Cobalt)  |  By Application (Consumer Electronics, Automotive, Aerospace and Defense)  |  By Geography (North America, Europe, Asia Pacific)
Geographies North America (US, Canada, Mexico)  ·  Europe (Germany, Italy, France, U.K., Spain, Belgium, Netherlands, Luxembourg, Norway, Finland, Denmark, Sweden, Switzerland, Austria, Greece, Portugal, Russia, Poland, Romania, Czech Republic, Ukraine, Slovakia, Bulgaria)  ·  Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Taiwan, Bangladesh)  ·  South and Central America (Brazil, Argentina, Chile, Colombia, Peru)  ·  Middle East and Africa (Saudi Arabia, United Arab Emirates, Kuwait, Bahrain, Qatar, Oman, Turkiye, South Africa, Egypt, Nigeria, Algeria)
Deliverables Historical analysis with CAGR · PEST & SWOT analysis · Market Size at Global, Regional, and Country Levels · Competitive heat map · Company profiles · Excel dataset
Report Code BMIRE00026228
Lead Analyst Suraj Sajeev — Associate Manager, Research & Consulting · View Profile
With Full Report Access

Gain actionable insights with 350 pages of in-depth Permanent Magnet Market, including historical trends, 7-year market forecasts, SWOT analysis, competitive landscapes, and downloadable Excel datasets in a single comprehensive package.

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