No. of Pages: 200 | Report Code: BMIPUB00031697 | Category: Chemicals and Materials
The ferrite permanent magnet market size is expected to reach US$ 7,986.42 million by 2031 from US$ 14,877.96 million in 2024. The market is estimated to record a CAGR of 9.8% from 2025 to 2031.
The global ferrite permanent magnet market is a vital segment of the broader magnet industry, characterized by its cost-effectiveness, reliability, and wide applicability across multiple sectors. Ferrite permanent magnets, composed of iron oxide and ceramic materials such as barium or strontium, are prized for their high electrical resistance, corrosion resistance, and stable magnetic properties. These attributes make them indispensable in applications ranging from consumer electronics and automotive components to industrial machinery, renewable energy systems, and medical technologies.
The market is experiencing steady growth, underpinned by rising demand for consumer electronics, increasing adoption of electric vehicles (EVs), and the global push toward renewable energy. Technological advancements have led to improved magnetic performance and manufacturing efficiency, further expanding the use of ferrite magnets in both established and emerging markets. Asia-Pacific stands as the dominant region, driven by robust industrial activity, large-scale electronics manufacturing, and significant investments in EV and renewable energy infrastructure. Despite competition from rare-earth magnets, ferrite magnets remain the preferred choice for many applications due to their affordability and reliability.
Ferrite Permanent Magnet Market Strategic Insights
Get more information on this report Ferrite Permanent Magnet Market Segmentation Analysis
Key segments that contributed to the derivation of the ferrite permanent magnet market analysis are drive type, propulsion, sales channel, and geography.
The proliferation of consumer electronics, including smartphones, tablets, laptops, wearables, and home appliances, is a primary driver for the ferrite permanent magnet market. These magnets are integral to the miniaturization and functionality of electronic devices, providing reliable magnetic performance in compact, lightweight designs. Their cost-effectiveness and resistance to demagnetization make them the preferred choice for manufacturers seeking to balance performance with affordability. As consumer preferences shift toward smaller, more energy-efficient gadgets, the demand for ferrite magnets in the electronics sector continues to grow, supporting sustained market expansion and innovation in device design.
The ferrite permanent magnet market has significant opportunities for growth in emerging economies, where rapid industrialization, urbanization, and digital transformation are driving demand for electronic devices and industrial equipment. Additionally, new applications in fields such as healthcare, smart technologies, and infrastructure development are emerging as promising avenues for market expansion. Manufacturers can capitalize on these trends by developing tailored solutions for local markets and exploring innovative uses in sectors such as medical devices, security systems, and renewable energy infrastructure.
By type, In 2024, sintered ferrite magnets accounted for the largest market share within the ferrite permanent magnet market, consistently holding a dominant position compared to bonded ferrite magnets. Sintered ferrite magnets offer higher magnetic strength and better temperature resistance (up to 250°C), making them suitable for demanding applications such as electric motors, automotive systems, and industrial equipment.
By Product Type, In 2024, strontium ferrite magnets dominated the ferrite permanent magnet market by product type, surpassing barium ferrite magnets in both market share and industry preference. Strontium ferrite magnets have become the industry standard due to their superior magnetic properties, including higher coercivity and better temperature stability, which make them ideal for demanding applications in automotive, electronics, and renewable energy sectors. Their robust performance in electric motors, sensors, and wind turbine generators has propelled their adoption, especially as the automotive industry—particularly electric vehicle (EV) production—expands globally. Strontium ferrite magnets are also widely used in consumer electronics, where their reliability and cost-effectiveness are highly valued.
By end-users segment, consumer electronics has dominated the ferrite magnet market in recent years. The dominance of the consumer electronics segment is primarily due to the widespread and growing use of ferrite magnets in a vast array of electronic devices, including smartphones, tablets, laptops, smart speakers, and home appliances. Ferrite magnets are favored for these applications because they offer an optimal balance of magnetic strength, compact size, and cost-effectiveness, which are essential for mass-produced, miniaturized electronic products. The ongoing trend toward increasingly compact, lightweight, and energy-efficient devices further drives the demand for ferrite magnets in this sector.
Ferrite Permanent Magnet Market Report Highlights
Report Attribute
Details
Market size in 2024
US$ 7,986.42 Million
Market Size by 2031
US$ 14,877.96 Million
Global CAGR (2025 - 2031)
9.8%
Historical Data
2021-2023
Forecast period
2025-2031
Segments Covered
By Type
By Product Type
By End-users
Regions and Countries Covered
North America
Europe
Asia-Pacific
South and Central America
Middle East and Africa
Market leaders and key company profiles
Get more information on this report
The "Ferrite permanent magnet market Outlook (2021–2031)" report provides a detailed analysis of the market covering below areas:
The geographical scope of the Ferrite permanent magnet market report is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. Asia-Pacific’s leadership is underpinned by several strategic factors. The region is home to the world’s largest manufacturing base for electronics, automotive components, and industrial equipment—industries that are major consumers of ferrite magnets. Countries such as China, Japan, and South Korea have well-established supply chains, significant investments in production technology, and a strong focus on export-oriented manufacturing, which collectively drive high output and market penetration for ferrite magnets.
The region benefits from rapid industrialization and urbanization, which fuel demand for consumer electronics, household appliances, and automotive products—all key application areas for ferrite magnets. Additionally, Asia-Pacific’s governments have implemented policies and incentives that encourage the adoption of technologies reliant on ferrite magnets, such as electric vehicles and renewable energy systems, further boosting market growth.
China, in particular, stands out as the global leader due to its vast production capacity, abundant raw materials, and concentration of major magnet manufacturers. The country’s electronics and automotive sectors are among the largest in the world, creating a synergistic effect that sustains high demand for ferrite magnets. Moreover, Asia-Pacific’s capacity for cost-effective manufacturing and its ability to scale production to meet both domestic and international demand have solidified its position as the dominant region in the ferrite permanent magnet market.
The Ferrite permanent magnet market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the Ferrite permanent magnet market are:
The Ferrite Permanent Magnet Market is valued at US$ 7,986.42 Million in 2024, it is projected to reach US$ 14,877.96 Million by 2031.
As per our report Ferrite Permanent Magnet Market, the market size is valued at US$ 7,986.42 Million in 2024, projecting it to reach US$ 14,877.96 Million by 2031. This translates to a CAGR of approximately 9.8% during the forecast period.
The Ferrite Permanent Magnet Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Ferrite Permanent Magnet Market report:
The Ferrite Permanent Magnet Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Ferrite Permanent Magnet Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Ferrite Permanent Magnet Market value chain can benefit from the information contained in a comprehensive market report.
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