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Ltd., Molycorp Magnequench, Thomas & Skinner Inc., Vacuumschmelze GmbH & Co. KG, Electron Energy Corporation, Hangzhou Permanent Magnet Group, Goudsmit Magnetics Group, and TDK Corporation, are some of the major permanent magnet companies worldwide."}},{"@type":"Question","name":"How big is the permanent magnet market?","acceptedAnswer":{"@type":"Answer","text":"The market size of permanent magnet was reached USD 41.51 billion in 2023 and is expected to register 10.2% CAGR from 2024 to 2032, owing to the expanding application scope of permanent magnets in aerospace propulsion and defense technologies, coupled with the shift toward REE-free alternatives worldwide."}},{"@type":"Question","name":"What is the size of the Asia Pacific permanent magnet market?","acceptedAnswer":{"@type":"Answer","text":"Asia Pacific permanent magnet industry is expected to register 11.3% CAGR from 2024-2032 due to robust industrialization, technological advancements, and substantial investments in sectors like automotive, electronics, and renewable energy in the region. "}},{"@type":"Question","name":"Why is the demand for ferrite permanent magnet growing?","acceptedAnswer":{"@type":"Answer","text":"Permanent magnet industry from the ferrite segment is expected to register 9.9% CAGR from 2024-2032 due to cost-effectiveness and versatility of ferrite magnets across various applications."}}]}</script><script type="application/ld+json">{"@context":"http://schema.org","@type":"Dataset","name":"Permanent Magnet Market Size & Share, Forecast 2024-2032","description":"Permanent Magnet Market Size - By Product (Neodymium, Aluminum鈥揘ickel鈥揅obalt, Ferrite, Samarium鈥揅obalt), By Application (Automotive, Energy Generation, Electronics, Others) & Forecast, 2024-2032","url":"https://www.gminsights.com/industry-analysis/permanent-magnet-market","license":"https://www.gminsights.com/privacy-policy","distribution":{"@type":"DataDownload","encodingFormat":"pdf,excel,csv,ppt","contentUrl":"https://www.gminsights.com/"},"creator":{"@type":"Organization","name":"Global Market Insights","url":"https://www.gminsights.com/","logo":{"@type":"ImageObject","url":"https://cdn.gminsights.com/image/GMI_logo.webp"}},"spatialCoverage":{"@type":"place","name":"Global"}}</script><script type="application/ld+json">{"@context":"http://schema.org","@type":"Report","mainEntityOfPage":{"@type":"WebPage","@id":"https://www.gminsights.com/industry-analysis/permanent-magnet-market"},"headline":"Permanent Magnet Market Size - By Product (Neodymium, Aluminum鈥揘ickel鈥揅obalt, Ferrite, Samarium鈥揅obalt), By Application (Automotive, Energy Generation, Electronics, Others) & Forecast, 2024-2032","datePublished":"2024-07-01","author":[{"@type":"Person","name":"Manish Verma"},{"@type":"Person","name":"Kiran Pulidindi"}],"copyrightHolder":{"@type":"Organization","name":"Global Market Insights Inc."},"publisher":{"@type":"Organization","name":"Global Market Insights Inc.","logo":{"@type":"ImageObject","url":"https://cdn.gminsights.com/image/GMI_logo.webp","width":511,"height":123}},"description":"Permanent Magnet Market was valued at USD 41.51 billion in 2023 and will grow at 10.2% CAGR from 2024 to 2032."}</script><meta name="next-head-count" content="40"/><link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.3/dist/css/bootstrap.min.css" integrity="sha384-QWTKZyjpPEjISv5WaRU9OFeRpok6YctnYmDr5pNlyT2bRjXh0JMhjY6hW+ALEwIH" crossorigin="anonymous"/><link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/4.7.0/css/font-awesome.min.css"/><script type="text/javascript" async=""> (function(w,d,s,l,i) { w[l]=w[l]||[]; w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'}); var f=d.getElementsByTagName(s)[0], j=d.createElement(s), dl=l!='dataLayer'?'&l='+l:''; j.async=true; j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl; f.parentNode.insertBefore(j,f); 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Increased demand for efficient propulsion systems and military applications emphasizes the need for advanced magnet technologies. Moreover, innovations in REE-free magnet materials address sustainability concerns, positioning these magnets as crucial components in modern aerospace and defense sectors, thus fueling market expansion.<br />  </p> <p style=font-size:18px style="text-align:center"><img alt="Permanent Magnet Market" src="https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/permanent-magnet-market-2024-2032.webp" title="Permanent Magnet Market Research Report" /></p> <p style=font-size:18px>The growth of the permanent magnet market is fueled by expanding renewable energy sectors, where magnets are essential in wind turbines and generators for improved efficiency. Also, technological breakthroughs in magnet materials and manufacturing processes are enhancing performance and durability. As renewable energy demands increase globally, along with ongoing innovations, the permanent magnets market will expand significantly, meeting the need for sustainable energy solutions effectively.<br />  </p> <div class="print-table"> </div> <p style=font-size:18px>The permanent magnet market presents hurdles, such as stringent environmental regulations and economic downturns. However, these regulations spur innovation toward sustainable mining practices and recycling methods, fostering long-term resource stability. Besides, economic downturns prompt resilience through diversified supply chains and cost-efficient manufacturing technologies, ensuring market adaptability. These challenges encourage the industry to innovate and optimize processes, driving advancements in magnet technology and fostering a resilient industrial ecosystem.<br />  </p> <h2 id="marketTrends" style=font-size:18px;line-height:normal;margin-bottom:15px>Permanent Magnet Market Trends</h2> <p style=font-size:18px>The integration of permanent magnets in consumer electronics like smartphones and the rising demand for electric vehicles (EVs) are propelling the market forward. These magnets are essential for compact, efficient motors in EVs and contribute to the miniaturization and performance enhancements in electronic devices. As consumer electronics and EV markets continue to expand globally, the demand for high-performance permanent magnets will rise steadily, fueling market growth.<br />  </p> <h2 id="marketAnalysis" style=font-size:18px;line-height:normal;margin-bottom:15px>Permanent Magnet Market Analysis</h2> <div class="sum-img"><img alt="Global Permanent Magnet Market Size, By Type, 2021 - 2032 (USD Billion)" src="https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/global-permanent-magnet-market-size-by-type-2024-2032.webp" title="Global Permanent Magnet Market Size, By Type, 2021 - 2032 (USD Billion)" /></div> <p style=font-size:18px>The ferrite segment was crossed USD 53.20 billion in 2023 and is set to register about 9.9% CAGR through 2032, due to the cost-effectiveness and versatility of ferrite magnets across various applications. As industries increasingly demand efficient and durable magnet solutions, ferrite magnets offer a compelling combination of performance and affordability. Their robustness in high-temperature environments, in line with their stability over time, makes them ideal for the automotive, electronics, and renewable energy sectors. With ongoing advancements in manufacturing techniques enhancing their magnetic properties, ferrite magnets will maintain their prominence, meeting the evolving needs of modern technological and industrial landscapes.<br />  </p> <div class="sum-img"><img alt="Global Permanent Magnet Market Revenue Share, By Application, (2023)" src="https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/global-permanent-magnet-market-revenue-share-by-application-2024-2032.webp" title="Global Permanent Magnet Market Revenue Share, By Application, (2023)" /></div> <p style=font-size:18px>The automotive segment size surpassed USD 50.22 b 2023 billion in 2023 and is likely to attain gains at nearly 10.3% CAGR from 2024 to 2032, owing to the growing adoption of electric vehicles (EVs) and hybrid vehicles worldwide. Permanent magnets are essential for electric motors used in EVs, providing efficient power conversion and compact design advantages. As automotive manufacturers continue to shift towards electrification to meet stringent emission regulations, the demand for permanent magnets will surge. This trend underscores the automotive segment's pivotal role in driving the market growth.<br />  </p> <div class="sum-img"><img alt="Asia Pacific Permanent Magnet Market Size, 2021 - 2032 (USD Billion)" src="https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/asia-pacific-permanent-magnet-market-size-2024-2032.webp" title="Asia Pacific Permanent Magnet Market Size, 2021 - 2032 (USD Billion)" /></div> <p style=font-size:18px>Asia Pacific permanent magnet market will record 11.3% CAGR during 2024 and 2032, driven by robust industrialization, technological advancements, and substantial investments in sectors like automotive, electronics, and renewable energy. Countries such as China, Japan, and South Korea are leading producers and consumers of permanent magnets, supported by strong manufacturing capabilities and increasing application scope in consumer electronics and automotive industries. With ongoing infrastructural developments and rising demand for energy-efficient technologies, Asia Pacific will stand as a significant contributor of permanent magnet.<br />  </p> <h2 id="marketShare" style=font-size:18px;line-height:normal;margin-bottom:15px>Permanent Magnet Market Share</h2> <div class="sum-img"><img alt="Global Permanent Magnet Company Market Share, (2023)" src="https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/global-permanent-magnet-company-market-share-2024-2032.webp" title="Global Permanent Magnet Company Market Share, (2023)" /></div> <p style=font-size:18px>Companies, including Hitachi Metals, Ltd., Arnold Magnetic Technologies, Daido Steel Co. Ltd., Adams Magnetic Products Co., and TDK Corporation, are increasing their market foothold by investing heavily in R&D. These efforts focus on enhancing magnet performance, such as improving magnetic strength and temperature stability, to meet evolving industrial and consumer demands. Furthermore, strategic partnerships and mergers are enabling them to broaden their product portfolios and access new markets, thereby bolstering their industry presence. By leveraging these initiatives, players are strengthening their competitive edge and driving innovation in sustainable magnetic solutions.<br />  </p> <p style=font-size:18px>Continuous innovation and customer-centric strategies are also key factors driving companies' industry expansion. By aligning product development with market trends such as electrification and renewable energy, players are addressing emerging challenges and seizing growth opportunities. Additionally, investments in advanced manufacturing technologies are streamlining production processes, ensuring higher efficiency and cost-effectiveness. This proactive approach enhances their market share and positions them as leaders in delivering cutting-edge magnet solutions tailored to meet the diverse needs of modern industries.<br />  </p> <h2 style=font-size:18px;line-height:normal;margin-bottom:15px>Permanent Magnet Market Companies</h2> <p style=font-size:18px>Top companies operating in the permanent magnet industry include:</p> <ul> <li style=font-size:18px>Hitachi Metals, Ltd.</li> <li style=font-size:18px>Jiangmen Magsource New Material Co. Ltd.</li> <li style=font-size:18px>Adams Magnetic Products Co.</li> <li style=font-size:18px>Arnold Magnetic Technologies </li> <li style=font-size:18px>Anhui Earth-Panda Advance Magnetic Material Co. Ltd.</li> <li style=font-size:18px>Ningbo Yunsheng Co. Ltd.</li> <li style=font-size:18px>Daido Steel Co. Ltd.</li> <li style=font-size:18px>Molycorp Magnequench</li> <li style=font-size:18px>Thomas & Skinner Inc.</li> <li style=font-size:18px>Vacuumschmelze GmbH & Co. KG</li> <li style=font-size:18px>Electron Energy Corporation</li> <li style=font-size:18px>Hangzhou Permanent Magnet Group</li> <li style=font-size:18px>Goudsmit Magnetics Group</li> <li style=font-size:18px>TDK Corporation<br />  </li> </ul> <h2 style=font-size:18px;line-height:normal;margin-bottom:15px>Permanent Magnet Market News</h2> <p style=font-size:18px>In February 2022, Armstrong Fluid Technology unveiled a new lineup of Design Envelope Permanent Magnet pumps, promising a 20% reduction in operating costs compared to standard induction motor-driven variable speed pumps.<br /> <br /> In July 2023, Neo Magnequench inaugurated Europe's first rare earth magnet manufacturing facility aimed at producing specialized magnets crucial for electric vehicles, wind turbines, and clean energy technologies.<br />  </p> <h2 style=font-size:18px;line-height:normal;margin-bottom:15px>This permanent magnet market research report includes in-depth coverage of the industry, <u>with estimates and forecasts in terms of revenue and volume (USD Million) (Tons) from 2024 to 2032</u>, </u>for the following segments: <p class="download-link-button secdata reportViewClickHereButton" style="font-weight:normal;font-size:18px;"><span id="sectional_purchase" style="color: #1585cf; cursor: pointer; font-weight: bold;" >Click here</span> to Buy Section of this Report</p></h2> <p style=font-size:18px;color:#061524><strong>Market, By </strong><strong>Product Type</strong></p> <ul> <li style=font-size:18px>Ferrite</li> <li style=font-size:18px>Neodymium (NdFeB)</li> <li style=font-size:18px>Samarium Cobalt (SmCo)</li> <li style=font-size:18px>Aluminum Nickel Cobalt (AlNiCo)</li> </ul> <p style=font-size:18px;color:#061524><strong>Market, By Application</strong></p> <ul> <li style=font-size:18px>Automative</li> <li style=font-size:18px>Electronics</li> <li style=font-size:18px>Energy Generation</li> </ul> <p style=font-size:18px>The above information is provided for the following regions and countries:</p> <ul> <li style=font-size:18px>North America <ul> <li style=font-size:18px>U.S.</li> <li style=font-size:18px>Canada</li> </ul> </li> <li style=font-size:18px>Europe <ul> <li style=font-size:18px>Germany</li> <li style=font-size:18px>UK</li> <li style=font-size:18px>France</li> <li style=font-size:18px>Italy</li> <li style=font-size:18px>Spain</li> <li style=font-size:18px>Rest of Europe</li> </ul> </li> <li style=font-size:18px>Asia Pacific <ul> <li style=font-size:18px>China</li> <li style=font-size:18px>India</li> <li style=font-size:18px>Japan</li> <li style=font-size:18px>South Korea</li> <li style=font-size:18px>Australia</li> <li style=font-size:18px>Rest of Asia Pacific</li> </ul> </li> <li style=font-size:18px>Latin America <ul> <li style=font-size:18px>Brazil</li> <li style=font-size:18px>Mexico</li> <li style=font-size:18px>Argentina</li> <li style=font-size:18px>Rest of Latin America</li> </ul> </li> <li style=font-size:18px>MEA <ul> <li style=font-size:18px>Saudi Arabia</li> <li style=font-size:18px>UAE</li> <li style=font-size:18px>South Africa</li> <li style=font-size:18px>Rest of MEA</li> </ul> </li> </ul> <p style=font-size:18px> </p> </div></div><div class="d-flex align-items-center justify-content-end p-1 reportAuthorDiv"><span class="authorHeading">Authors:聽</span><span class="authorHeadingName">Kiran Pulidindi, Manish Verma </span> </div><div class="pd_top_5"></div><div><div class="reportFaqDiv"><strong>Frequently Asked Question(FAQ) :</strong></div><div class="pd_top_5"></div><div class="col-xl-12 col-lg-12 col-md-12 col-sm-12 col-xs-12 p-0"><section class="faq_section type_two"><div class="block_faq"><div class="accordion p-0"><dl><div><dt class="reportFaqQuestionDiv faq_header active p-2 pd_right_40 m-1 text-decoration-underline">Who are the key leaders in the permanent magnet industry?<span class="icon-plus-1" style="display:inline-block;transform:rotate(135deg);transition:transform 0.3s ease;background-color:rgba(0, 0, 0, .03);color:#7a7a7a;box-shadow:none;background:none;font-size:19px"></span></dt><dd class="accordion-content hide m-1 p-3" style="display:block;background-color:#fff;border:none"><div>Daido Steel Co. Ltd., Molycorp Magnequench, Thomas & Skinner Inc., Vacuumschmelze GmbH & Co. KG, Electron Energy Corporation, Hangzhou Permanent Magnet Group, Goudsmit Magnetics Group, and TDK Corporation, are some of the major permanent magnet companies worldwide.</div></dd></div><div><dt class="reportFaqQuestionDiv faq_header p-2 pd_right_40 m-1">How big is the permanent magnet market?<span class="icon-plus-1" style="display:inline-block;transform:rotate(0deg);transition:transform 0.3s ease;background-color:rgba(0, 0, 0, .03);color:#7a7a7a;box-shadow:none;background:none;font-size:19px"></span></dt><dd class="accordion-content hide m-1 p-3" style="display:none;background-color:#fff;border:none"><div>The market size of permanent magnet was reached USD 41.51 billion in 2023 and is expected to register 10.2% CAGR from 2024 to 2032, owing to the expanding application scope of permanent magnets in aerospace propulsion and defense technologies, coupled with the shift toward REE-free alternatives worldwide.</div></dd></div><div><dt class="reportFaqQuestionDiv faq_header p-2 pd_right_40 m-1">What is the size of the Asia Pacific permanent magnet market?<span class="icon-plus-1" style="display:inline-block;transform:rotate(0deg);transition:transform 0.3s ease;background-color:rgba(0, 0, 0, .03);color:#7a7a7a;box-shadow:none;background:none;font-size:19px"></span></dt><dd class="accordion-content hide m-1 p-3" style="display:none;background-color:#fff;border:none"><div>Asia Pacific permanent magnet industry is expected to register 11.3% CAGR from 2024-2032 due to robust industrialization, technological advancements, and substantial investments in sectors like automotive, electronics, and renewable energy in the region. </div></dd></div><div><dt class="reportFaqQuestionDiv faq_header p-2 pd_right_40 m-1">Why is the demand for ferrite permanent magnet growing?<span class="icon-plus-1" style="display:inline-block;transform:rotate(0deg);transition:transform 0.3s ease;background-color:rgba(0, 0, 0, .03);color:#7a7a7a;box-shadow:none;background:none;font-size:19px"></span></dt><dd class="accordion-content hide m-1 p-3" style="display:none;background-color:#fff;border:none"><div>Permanent magnet industry from the ferrite segment is expected to register 9.9% CAGR from 2024-2032 due to cost-effectiveness and versatility of ferrite magnets across various applications.</div></dd></div></dl></div></div></section></div><div class="reportmarketScopeHeading"><strong>Permanent Magnet Market Scope</strong></div><div class="row reportMarketScopelist"><div class="col-md-6"><ul><li class="marketScopeList"><div style="cursor:pointer"><div>Permanent Magnet Market Size</div></div></li><li class="marketScopeList"><div style="cursor:pointer"><div>Permanent Magnet Market Trends</div></div></li></ul></div><div class="col-md-6"><ul><li class="marketScopeList"><div style="cursor:pointer"><div>Permanent Magnet Market Analysis</div></div></li><li class="marketScopeList"><div style="cursor:pointer"><div>Permanent Magnet Market Share</div></div></li></ul></div></div></div><div><div class="relatedReportsDiv"><strong>Related Reports</strong></div><div class="row reportMarketScopelist"><ul class="reportMaketScopeListDiv"></ul></div></div><div style="display:none"><div class="reportViewFooterDiv"><button class="inquiryBtn btn btn-primary">Customize this Report</button><button class="inquiryBtn btn btn-primary">Inquiry Before Buying</button></div></div></div></div></div><div class="tab-pane fade"><div class="content_box"><a data-form-type="custom" id="button44" class="btnFortyFour"><div class="report-body"></div></a></div><div><div class="d-flex align-items-center justify-content-end p-1" style="background-color:#f3f3f3"><span style="font-weight:bold">Authors:聽</span><span style="font-weight:normal">Kiran Pulidindi, Manish Verma </span> </div></div><div><div class="reportViewFooterDiv"><button class="inquiryBtn btn btn-primary">Customize this 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class="MuiTypography-root MuiTypography-body1 MuiFormControlLabel-label css-9l3uo3">Multi User: </span></label><span> <strong>$4,840 </strong> </span><span class="p-0 discountPricetext"><strong> $6,050 </strong></span><div class="discountBtnPriceDiv"><span>20% off</span></div></div></div><div class="row"><div class="col-xl-12 col-lg-12 col-md-12 col-sm-12 col-xs-12 p-0 pd_left_5 buyNowRadioDiv"><label class="MuiFormControlLabel-root MuiFormControlLabel-labelPlacementEnd css-1jaw3da"><style data-emotion="css 19fcq5p">.css-19fcq5p{color:rgba(0, 0, 0, 0.6);-webkit-transform:scale(0.7);-moz-transform:scale(0.7);-ms-transform:scale(0.7);transform:scale(0.7);padding:7px 0px 7px 6px;}.css-19fcq5p.Mui-checked{color:#1976d2;}.css-19fcq5p.Mui-disabled{color:rgba(0, 0, 0, 0.26);}</style><style data-emotion="css 3erxz8">.css-3erxz8{padding:9px;border-radius:50%;color:rgba(0, 0, 0, 0.6);-webkit-transform:scale(0.7);-moz-transform:scale(0.7);-ms-transform:scale(0.7);transform:scale(0.7);padding:7px 0px 7px 6px;}.css-3erxz8.Mui-checked{color:#1976d2;}.css-3erxz8.Mui-disabled{color:rgba(0, 0, 0, 0.26);}</style><style data-emotion="css csppj7">.css-csppj7{display:-webkit-inline-box;display:-webkit-inline-flex;display:-ms-inline-flexbox;display:inline-flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;position:relative;box-sizing:border-box;-webkit-tap-highlight-color:transparent;background-color:transparent;outline:0;border:0;margin:0;border-radius:0;padding:0;cursor:pointer;-webkit-user-select:none;-moz-user-select:none;-ms-user-select:none;user-select:none;vertical-align:middle;-moz-appearance:none;-webkit-appearance:none;-webkit-text-decoration:none;text-decoration:none;color:inherit;padding:9px;border-radius:50%;color:rgba(0, 0, 0, 0.6);-webkit-transform:scale(0.7);-moz-transform:scale(0.7);-ms-transform:scale(0.7);transform:scale(0.7);padding:7px 0px 7px 6px;}.css-csppj7::-moz-focus-inner{border-style:none;}.css-csppj7.Mui-disabled{pointer-events:none;cursor:default;}@media print{.css-csppj7{-webkit-print-color-adjust:exact;color-adjust:exact;}}.css-csppj7.Mui-checked{color:#1976d2;}.css-csppj7.Mui-disabled{color:rgba(0, 0, 0, 0.26);}</style><span class="MuiButtonBase-root MuiRadio-root MuiRadio-colorPrimary PrivateSwitchBase-root MuiRadio-root MuiRadio-colorPrimary MuiRadio-root MuiRadio-colorPrimary css-csppj7"><input class="PrivateSwitchBase-input css-1m9pwf3" name="radio-buttons-group" type="radio" value="3"/><span class="css-hyxlzm"><svg class="MuiSvgIcon-root MuiSvgIcon-fontSizeMedium css-q8lw68" focusable="false" aria-hidden="true" viewBox="0 0 24 24" data-testid="RadioButtonUncheckedIcon"><path d="M12 2C6.48 2 2 6.48 2 12s4.48 10 10 10 10-4.48 10-10S17.52 2 12 2zm0 18c-4.42 0-8-3.58-8-8s3.58-8 8-8 8 3.58 8 8-3.58 8-8 8z"></path></svg><svg class="MuiSvgIcon-root MuiSvgIcon-fontSizeMedium css-1c4tzn" focusable="false" aria-hidden="true" viewBox="0 0 24 24" data-testid="RadioButtonCheckedIcon"><path d="M8.465 8.465C9.37 7.56 10.62 7 12 7C14.76 7 17 9.24 17 12C17 13.38 16.44 14.63 15.535 15.535C14.63 16.44 13.38 17 12 17C9.24 17 7 14.76 7 12C7 10.62 7.56 9.37 8.465 8.465Z"></path></svg></span></span><span class="MuiTypography-root MuiTypography-body1 MuiFormControlLabel-label css-9l3uo3">Enterprise User: </span></label><span> <strong> $5,845 </strong> </span><span class="discountPricetext"><strong> $8,350 </strong></span><div class="discountBtnPriceDiv"><span>30% off</span></div></div></div></div><div class="pd_top_20"></div><div class="buynow-btn theme_btn_all color_one p-0 reportBuyNowBtn"><div class="theme-btn five m-0 btn btn-primary btn-block buynow-btn" id="buy_now"><i class="icon-shopping-cart"></i> 聽聽 Buy now</div></div><div></div><div class="reportPremiumDetaislDiv"><div 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Application (Automotive, Energy Generation, Electronics, Others) \u0026 Forecast, 2024-2032","url":"permanent-magnet-market","brief_desc":"Permanent Magnet Market was valued at USD 41.51 billion in 2023 and will grow at 10.2% CAGR from 2024 to 2032.","full_desc":"\u003ch2\u003ePermanent Magnet Market Size\u003c/h2\u003e\r\n\r\n\u003cp\u003ePermanent Magnet Market was valued at USD 41.51 billion in 2023 and will grow at 10.2% CAGR from 2024 to 2032, attributed to the expanding application scope of permanent magnets in aerospace propulsion and defense technologies, coupled with the shift toward REE-free alternatives. Increased demand for efficient propulsion systems and military applications emphasizes the need for advanced magnet technologies. Moreover, innovations in REE-free magnet materials address sustainability concerns, positioning these magnets as crucial components in modern aerospace and defense sectors, thus fueling market expansion.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp style=\"text-align:center\"\u003e\u003cimg alt=\"Permanent Magnet Market\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/permanent-magnet-market-2024-2032.webp\" title=\"Permanent Magnet Market Research Report\" /\u003e\u003c/p\u003e\r\n\r\n\u003cp\u003eThe growth of the permanent magnet market is fueled by expanding renewable energy sectors, where magnets are essential in wind turbines and generators for improved efficiency. Also, technological breakthroughs in magnet materials and manufacturing processes are enhancing performance and durability. As renewable energy demands increase globally, along with ongoing innovations, the permanent magnets market will expand significantly, meeting the need for sustainable energy solutions effectively.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cdiv class=\"print-table\"\u003e\u0026nbsp;\u003c/div\u003e\r\n\r\n\u003cp\u003eThe permanent magnet market presents hurdles, such as stringent environmental regulations and economic downturns. However, these regulations spur innovation toward sustainable mining practices and recycling methods, fostering long-term resource stability. Besides, economic downturns prompt resilience through diversified supply chains and cost-efficient manufacturing technologies, ensuring market adaptability. These challenges encourage the industry to innovate and optimize processes, driving advancements in magnet technology and fostering a resilient industrial ecosystem.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003ePermanent Magnet Market Trends\u003c/h2\u003e\r\n\r\n\u003cp\u003eThe integration of permanent magnets in consumer electronics like smartphones and the rising demand for electric vehicles (EVs) are propelling the market forward. These magnets are essential for compact, efficient motors in EVs and contribute to the miniaturization and performance enhancements in electronic devices. As consumer electronics and EV markets continue to expand globally, the demand for high-performance permanent magnets will rise steadily, fueling market growth.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003ePermanent Magnet Market Analysis\u003c/h2\u003e\r\n\r\n\u003cdiv class=\"sum-img\"\u003e\u003cimg alt=\"Global Permanent Magnet Market Size, By Type, 2021 - 2032 (USD Billion)\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/global-permanent-magnet-market-size-by-type-2024-2032.webp\" title=\"Global Permanent Magnet Market Size, By Type, 2021 - 2032 (USD Billion)\" /\u003e\u003c/div\u003e\r\n\r\n\u003cp\u003eThe ferrite segment was crossed USD 53.20 billion in 2023 and is set to register about 9.9% CAGR through 2032, due to the cost-effectiveness and versatility of ferrite magnets across various applications. As industries increasingly demand efficient and durable magnet solutions, ferrite magnets offer a compelling combination of performance and affordability. Their robustness in high-temperature environments, in line with their stability over time, makes them ideal for the automotive, electronics, and renewable energy sectors. With ongoing advancements in manufacturing techniques enhancing their magnetic properties, ferrite magnets will maintain their prominence, meeting the evolving needs of modern technological and industrial landscapes.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cdiv class=\"sum-img\"\u003e\u003cimg alt=\"Global Permanent Magnet Market Revenue Share, By Application, (2023)\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/global-permanent-magnet-market-revenue-share-by-application-2024-2032.webp\" title=\"Global Permanent Magnet Market Revenue Share, By Application, (2023)\" /\u003e\u003c/div\u003e\r\n\r\n\u003cp\u003eThe automotive segment size surpassed USD 50.22 b 2023 billion in 2023 and is likely to attain gains at nearly 10.3% CAGR from 2024 to 2032, owing to the growing adoption of electric vehicles (EVs) and hybrid vehicles worldwide. Permanent magnets are essential for electric motors used in EVs, providing efficient power conversion and compact design advantages. As automotive manufacturers continue to shift towards electrification to meet stringent emission regulations, the demand for permanent magnets will surge. This trend underscores the automotive segment\u0026#39;s pivotal role in driving the market growth.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cdiv class=\"sum-img\"\u003e\u003cimg alt=\"Asia Pacific Permanent Magnet Market Size, 2021 - 2032 (USD Billion)\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/asia-pacific-permanent-magnet-market-size-2024-2032.webp\" title=\"Asia Pacific Permanent Magnet Market Size, 2021 - 2032 (USD Billion)\" /\u003e\u003c/div\u003e\r\n\r\n\u003cp\u003eAsia Pacific permanent magnet market will record 11.3% CAGR during 2024 and 2032, driven by robust industrialization, technological advancements, and substantial investments in sectors like automotive, electronics, and renewable energy. Countries such as China, Japan, and South Korea are leading producers and consumers of permanent magnets, supported by strong manufacturing capabilities and increasing application scope in consumer electronics and automotive industries. With ongoing infrastructural developments and rising demand for energy-efficient technologies, Asia Pacific will stand as a significant contributor of permanent magnet.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003ePermanent Magnet Market Share\u003c/h2\u003e\r\n\r\n\u003cdiv class=\"sum-img\"\u003e\u003cimg alt=\"Global Permanent Magnet Company Market Share, (2023)\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/global-permanent-magnet-company-market-share-2024-2032.webp\" title=\"Global Permanent Magnet Company Market Share, (2023)\" /\u003e\u003c/div\u003e\r\n\r\n\u003cp\u003eCompanies, including Hitachi Metals, Ltd., Arnold Magnetic Technologies, Daido Steel Co. Ltd., Adams Magnetic Products Co., and TDK Corporation, are increasing their market foothold by investing heavily in R\u0026amp;D. These efforts focus on enhancing magnet performance, such as improving magnetic strength and temperature stability, to meet evolving industrial and consumer demands. Furthermore, strategic partnerships and mergers are enabling them to broaden their product portfolios and access new markets, thereby bolstering their industry presence. By leveraging these initiatives, players are strengthening their competitive edge and driving innovation in sustainable magnetic solutions.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eContinuous innovation and customer-centric strategies are also key factors driving companies\u0026#39; industry expansion. By aligning product development with market trends such as electrification and renewable energy, players are addressing emerging challenges and seizing growth opportunities. Additionally, investments in advanced manufacturing technologies are streamlining production processes, ensuring higher efficiency and cost-effectiveness. This proactive approach enhances their market share and positions them as leaders in delivering cutting-edge magnet solutions tailored to meet the diverse needs of modern industries.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003ePermanent Magnet Market Companies\u003c/h2\u003e\r\n\r\n\u003cp\u003eTop companies operating in the permanent magnet industry include:\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eHitachi Metals, Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eJiangmen Magsource New Material Co. Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eAdams Magnetic Products Co.\u003c/li\u003e\r\n\t\u003cli\u003eArnold Magnetic Technologies\u0026nbsp;\u003c/li\u003e\r\n\t\u003cli\u003eAnhui Earth-Panda Advance Magnetic Material Co. Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eNingbo Yunsheng Co. Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eDaido Steel Co. Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eMolycorp Magnequench\u003c/li\u003e\r\n\t\u003cli\u003eThomas \u0026amp; Skinner Inc.\u003c/li\u003e\r\n\t\u003cli\u003eVacuumschmelze GmbH \u0026amp; Co. KG\u003c/li\u003e\r\n\t\u003cli\u003eElectron Energy Corporation\u003c/li\u003e\r\n\t\u003cli\u003eHangzhou Permanent Magnet Group\u003c/li\u003e\r\n\t\u003cli\u003eGoudsmit Magnetics Group\u003c/li\u003e\r\n\t\u003cli\u003eTDK Corporation\u003cbr /\u003e\r\n\t\u0026nbsp;\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003ch2\u003ePermanent Magnet Market News\u003c/h2\u003e\r\n\r\n\u003cp\u003eIn February 2022, Armstrong Fluid Technology unveiled a new lineup of Design Envelope Permanent Magnet pumps, promising a 20% reduction in operating costs compared to standard induction motor-driven variable speed pumps.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nIn July 2023, Neo Magnequench inaugurated Europe\u0026#39;s first rare earth magnet manufacturing facility aimed at producing specialized magnets crucial for electric vehicles, wind turbines, and clean energy technologies.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch3\u003eThis permanent magnet market research report includes in-depth coverage of the industry, \u003cu\u003ewith estimates and forecasts in terms of revenue and volume (USD Million) (Tons) from 2024 to 2032\u003c/u\u003e, for the following segments:\u003c/h3\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eMarket, By \u003c/strong\u003e\u003cstrong\u003eProduct Type\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eFerrite\u003c/li\u003e\r\n\t\u003cli\u003eNeodymium (NdFeB)\u003c/li\u003e\r\n\t\u003cli\u003eSamarium Cobalt (SmCo)\u003c/li\u003e\r\n\t\u003cli\u003eAluminum Nickel Cobalt (AlNiCo)\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eMarket, By Application\u003c/strong\u003e\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eAutomative\u003c/li\u003e\r\n\t\u003cli\u003eElectronics\u003c/li\u003e\r\n\t\u003cli\u003eEnergy Generation\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003eThe above information is provided for the following regions and countries:\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eNorth America\r\n\t\u003cul\u003e\r\n\t\t\u003cli\u003eU.S.\u003c/li\u003e\r\n\t\t\u003cli\u003eCanada\u003c/li\u003e\r\n\t\u003c/ul\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003eEurope\r\n\t\u003cul\u003e\r\n\t\t\u003cli\u003eGermany\u003c/li\u003e\r\n\t\t\u003cli\u003eUK\u003c/li\u003e\r\n\t\t\u003cli\u003eFrance\u003c/li\u003e\r\n\t\t\u003cli\u003eItaly\u003c/li\u003e\r\n\t\t\u003cli\u003eSpain\u003c/li\u003e\r\n\t\t\u003cli\u003eRest of Europe\u003c/li\u003e\r\n\t\u003c/ul\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003eAsia Pacific\r\n\t\u003cul\u003e\r\n\t\t\u003cli\u003eChina\u003c/li\u003e\r\n\t\t\u003cli\u003eIndia\u003c/li\u003e\r\n\t\t\u003cli\u003eJapan\u003c/li\u003e\r\n\t\t\u003cli\u003eSouth Korea\u003c/li\u003e\r\n\t\t\u003cli\u003eAustralia\u003c/li\u003e\r\n\t\t\u003cli\u003eRest of Asia Pacific\u003c/li\u003e\r\n\t\u003c/ul\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003eLatin America\r\n\t\u003cul\u003e\r\n\t\t\u003cli\u003eBrazil\u003c/li\u003e\r\n\t\t\u003cli\u003eMexico\u003c/li\u003e\r\n\t\t\u003cli\u003eArgentina\u003c/li\u003e\r\n\t\t\u003cli\u003eRest of Latin America\u003c/li\u003e\r\n\t\u003c/ul\u003e\r\n\t\u003c/li\u003e\r\n\t\u003cli\u003eMEA\r\n\t\u003cul\u003e\r\n\t\t\u003cli\u003eSaudi Arabia\u003c/li\u003e\r\n\t\t\u003cli\u003eUAE\u003c/li\u003e\r\n\t\t\u003cli\u003eSouth Africa\u003c/li\u003e\r\n\t\t\u003cli\u003eRest of MEA\u003c/li\u003e\r\n\t\u003c/ul\u003e\r\n\t\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n","manager_name":"Kiran Pulidindi","author_name":"Manish Verma","no_of_pages":200,"category_id":"80,10,9","modification_date":"2024-07-04 15:56:23","meta_title":"Permanent Magnet Market Size \u0026 Share, Forecast 2024-2032","meta_keywords":"Permanent Magnets Market - Global Permanent Magnets Industry Size, Share, Price, Growth Trends, Applications, Potential, Technology, Forecast, Competitive Analysis, PDF Report","meta_description":"The permanent magnet market size crossed USD 41.51 billion in 2023 and is estimated to exhibit 10.2% CAGR between 2024 and 2032, owing to the expanding application scope of permanent magnets in aerospace propulsion and defense technologies, coupled with the shift toward REE-free alternatives worldwide.","body":"body1","historical_data":"2021 - 2023","forecast_period":"2024 - 2032","pitfalls_challenges":"\u003cul\u003e\u003cli\u003eHigh price and limited availability of raw materials\u003c/li\u003e \u003cli\u003eHazards caused by rare earth metals\u003c/li\u003e\u003c/ul\u003e","segments":"By Product Type, By Application","growth_drivers":"\u003cul\u003e\u003cli\u003eRising automotive market\u003c/li\u003e \u003cli\u003eGlobal shift towards sustainable energy generation\u003c/li\u003e \u003cli\u003eAdvancements in manufacturing technologies\u003c/li\u003e\u003c/ul\u003e","forecast_period_CAGR":"10.2","size_in_base_year":"USD 41.51 Billion","year_value_projection":"USD 100.1 Billion","dispatch":"","is_index":"YES","base_year":"2023","tables_count":172,"chart_or_fig_count":0,"companies_count":14,"countries_count":22,"price_sul":"4,850","price_el":"6,050","price_cul":"8,350","publish_date":"July 2024","market_share":"\u003ch2\u003ePermanent Magnet Market Share\u003c/h2\u003e\r\n\r\n\u003cdiv class=\"sum-img\"\u003e\u003cimg alt=\"Global Permanent Magnet Company Market Share, (2023)\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/global-permanent-magnet-company-market-share-2024-2032.webp\" title=\"Global Permanent Magnet Company Market Share, (2023)\" /\u003e\u003c/div\u003e\r\n\r\n\u003cp\u003eCompanies, including Hitachi Metals, Ltd., Arnold Magnetic Technologies, Daido Steel Co. Ltd., Adams Magnetic Products Co., and TDK Corporation, are increasing their market foothold by investing heavily in R\u0026amp;D. These efforts focus on enhancing magnet performance, such as improving magnetic strength and temperature stability, to meet evolving industrial and consumer demands. Furthermore, strategic partnerships and mergers are enabling them to broaden their product portfolios and access new markets, thereby bolstering their industry presence. By leveraging these initiatives, players are strengthening their competitive edge and driving innovation in sustainable magnetic solutions.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eContinuous innovation and customer-centric strategies are also key factors driving companies\u0026#39; industry expansion. By aligning product development with market trends such as electrification and renewable energy, players are addressing emerging challenges and seizing growth opportunities. Additionally, investments in advanced manufacturing technologies are streamlining production processes, ensuring higher efficiency and cost-effectiveness. This proactive approach enhances their market share and positions them as leaders in delivering cutting-edge magnet solutions tailored to meet the diverse needs of modern industries.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003ePermanent Magnet Market Companies\u003c/h2\u003e\r\n\r\n\u003cp\u003eTop companies operating in the permanent magnet industry include:\u003c/p\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003eHitachi Metals, Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eJiangmen Magsource New Material Co. Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eAdams Magnetic Products Co.\u003c/li\u003e\r\n\t\u003cli\u003eArnold Magnetic Technologies\u0026nbsp;\u003c/li\u003e\r\n\t\u003cli\u003eAnhui Earth-Panda Advance Magnetic Material Co. Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eNingbo Yunsheng Co. Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eDaido Steel Co. Ltd.\u003c/li\u003e\r\n\t\u003cli\u003eMolycorp Magnequench\u003c/li\u003e\r\n\t\u003cli\u003eThomas \u0026amp; Skinner Inc.\u003c/li\u003e\r\n\t\u003cli\u003eVacuumschmelze GmbH \u0026amp; Co. KG\u003c/li\u003e\r\n\t\u003cli\u003eElectron Energy Corporation\u003c/li\u003e\r\n\t\u003cli\u003eHangzhou Permanent Magnet Group\u003c/li\u003e\r\n\t\u003cli\u003eGoudsmit Magnetics Group\u003c/li\u003e\r\n\t\u003cli\u003eTDK Corporation\u003cbr /\u003e\r\n\t\u0026nbsp;\u003c/li\u003e\r\n\u003c/ul\u003e\r\n","market_size":"\u003ch2\u003ePermanent Magnet Market Size\u003c/h2\u003e\r\n\r\n\u003cp\u003ePermanent Magnet Market was valued at USD 41.51 billion in 2023 and will grow at 10.2% CAGR from 2024 to 2032, attributed to the expanding application scope of permanent magnets in aerospace propulsion and defense technologies, coupled with the shift toward REE-free alternatives. Increased demand for efficient propulsion systems and military applications emphasizes the need for advanced magnet technologies. Moreover, innovations in REE-free magnet materials address sustainability concerns, positioning these magnets as crucial components in modern aerospace and defense sectors, thus fueling market expansion.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cdiv class=\"sum-img\"\u003e\u003cimg alt=\"Permanent Magnet Market\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/permanent-magnet-market-2024-2032.webp\" title=\"Permanent Magnet Market Research Report\" /\u003e\u003c/div\u003e\r\n\r\n\u003cp\u003eThe growth of the permanent magnet market is fueled by expanding renewable energy sectors, where magnets are essential in wind turbines and generators for improved efficiency. Also, technological breakthroughs in magnet materials and manufacturing processes are enhancing performance and durability. As renewable energy demands increase globally, along with ongoing innovations, the permanent magnets market will expand significantly, meeting the need for sustainable energy solutions effectively.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cdiv class=\"print-table\"\u003e\u0026nbsp;\u003c/div\u003e\r\n\r\n\u003cp\u003eThe permanent magnet market presents hurdles, such as stringent environmental regulations and economic downturns. However, these regulations spur innovation toward sustainable mining practices and recycling methods, fostering long-term resource stability. Besides, economic downturns prompt resilience through diversified supply chains and cost-efficient manufacturing technologies, ensuring market adaptability. These challenges encourage the industry to innovate and optimize processes, driving advancements in magnet technology and fostering a resilient industrial ecosystem.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n","market_analysis":"\u003ch2\u003ePermanent Magnet Market Analysis\u003c/h2\u003e\r\n\r\n\u003cdiv class=\"sum-img\"\u003e\u003cimg alt=\"Global Permanent Magnet Market Size, By Type, 2021 - 2032 (USD Billion)\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/global-permanent-magnet-market-size-by-type-2024-2032.webp\" title=\"Global Permanent Magnet Market Size, By Type, 2021 - 2032 (USD Billion)\" /\u003e\u003c/div\u003e\r\n\r\n\u003cp\u003eThe ferrite segment was crossed USD 53.20 billion in 2023 and is set to register about 9.9% CAGR through 2032, due to the cost-effectiveness and versatility of ferrite magnets across various applications. As industries increasingly demand efficient and durable magnet solutions, ferrite magnets offer a compelling combination of performance and affordability. Their robustness in high-temperature environments, in line with their stability over time, makes them ideal for the automotive, electronics, and renewable energy sectors. With ongoing advancements in manufacturing techniques enhancing their magnetic properties, ferrite magnets will maintain their prominence, meeting the evolving needs of modern technological and industrial landscapes.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cdiv class=\"sum-img\"\u003e\u003cimg alt=\"Global Permanent Magnet Market Revenue Share, By Application, (2023)\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/global-permanent-magnet-market-revenue-share-by-application-2024-2032.webp\" title=\"Global Permanent Magnet Market Revenue Share, By Application, (2023)\" /\u003e\u003c/div\u003e\r\n\r\n\u003cp\u003eThe automotive segment size surpassed USD 50.22 b 2023 billion in 2023 and is likely to attain gains at nearly 10.3% CAGR from 2024 to 2032, owing to the growing adoption of electric vehicles (EVs) and hybrid vehicles worldwide. Permanent magnets are essential for electric motors used in EVs, providing efficient power conversion and compact design advantages. As automotive manufacturers continue to shift towards electrification to meet stringent emission regulations, the demand for permanent magnets will surge. This trend underscores the automotive segment\u0026#39;s pivotal role in driving the market growth.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cdiv class=\"sum-img\"\u003e\u003cimg alt=\"Asia Pacific Permanent Magnet Market Size, 2021 - 2032 (USD Billion)\" src=\"https://cdn.gminsights.com/image/rd/polymers-and-advanced-materials/asia-pacific-permanent-magnet-market-size-2024-2032.webp\" title=\"Asia Pacific Permanent Magnet Market Size, 2021 - 2032 (USD Billion)\" /\u003e\u003c/div\u003e\r\n\r\n\u003cp\u003eAsia Pacific permanent magnet market will record 11.3% CAGR during 2024 and 2032, driven by robust industrialization, technological advancements, and substantial investments in sectors like automotive, electronics, and renewable energy. Countries such as China, Japan, and South Korea are leading producers and consumers of permanent magnets, supported by strong manufacturing capabilities and increasing application scope in consumer electronics and automotive industries. With ongoing infrastructural developments and rising demand for energy-efficient technologies, Asia Pacific will stand as a significant contributor of permanent magnet.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n","market_trends":"\u003ch2\u003ePermanent Magnet Market Trends\u003c/h2\u003e\r\n\r\n\u003cp\u003eThe integration of permanent magnets in consumer electronics like smartphones and the rising demand for electric vehicles (EVs) are propelling the market forward. These magnets are essential for compact, efficient motors in EVs and contribute to the miniaturization and performance enhancements in electronic devices. As consumer electronics and EV markets continue to expand globally, the demand for high-performance permanent magnets will rise steadily, fueling market growth.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\r\n","mod_date":"2024-07-04T15:56:23.000Z","offer_single_price":"4,123","offer_multi_price":"4,840","offer_enter_price":"5,845","canicoal":"https://www.gminsights.com/industry-analysis/permanent-magnet-market"}],"meta_tags":[{"language":"en","url":"permanent-magnet-market"},{"language":"de","url":"permanent-magnet-market"},{"language":"es","url":"permanent-magnet-market"},{"language":"fr","url":"permanent-magnet-market"},{"language":"it","url":"permanent-magnet-market"},{"language":"ja","url":"permanent-magnet-market"},{"language":"ko","url":"permanent-magnet-market"},{"language":"ru","url":"permanent-magnet-market"},{"language":"zh","url":"permanent-magnet-market"},{"language":"ar","url":"permanent-magnet-market"}],"formfield":["email"]},"success":"True","bread_Store_Arr":[{"main_name":"Chemicals and Materials","main_url":"chemicals-materials"},{"L1":"Advanced Materials","L1_url":"advanced-materials"},{"l2":"Functional Materials","l2_url":"functional-materials"}],"category_id":"80,10,9","ipCountry":{"name":"Singapore","flag":"馃嚫馃嚞","code":"SG","dial_code":"+65"},"meta_tags":[{"language":"en","url":"permanent-magnet-market"},{"language":"de","url":"permanent-magnet-market"},{"language":"es","url":"permanent-magnet-market"},{"language":"fr","url":"permanent-magnet-market"},{"language":"it","url":"permanent-magnet-market"},{"language":"ja","url":"permanent-magnet-market"},{"language":"ko","url":"permanent-magnet-market"},{"language":"ru","url":"permanent-magnet-market"},{"language":"zh","url":"permanent-magnet-market"},{"language":"ar","url":"permanent-magnet-market"}],"breadcrumbSchema":{"@context":"http://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@type":"WebPage","@id":"https://www.gminsights.com/","name":"Home"}},{"@type":"ListItem","position":2,"item":{"@type":"WebPage","@id":"https://www.gminsights.com/chemicals-materials","name":"Chemicals and Materials"}},{"@type":"ListItem","position":3,"item":{"@type":"WebPage","@id":"https://www.gminsights.com/advanced-materials/80","name":"Advanced Materials"}},{"@type":"ListItem","position":4,"item":{"@type":"WebPage","@id":"https://www.gminsights.com/functional-materials/80","name":"Functional Materials"}},{"@type":"ListItem","position":5,"item":{"@type":"WebPage","@id":"https://www.gminsights.com/industry-analysis/permanent-magnet-market","name":"Permanent Magnet Market"}}]},"faqschema":[{"id":1113,"question":"Who are the key leaders in the permanent magnet industry?","answer":"Daido Steel Co. Ltd., Molycorp Magnequench, Thomas \u0026 Skinner Inc., Vacuumschmelze GmbH \u0026 Co. KG, Electron Energy Corporation, Hangzhou Permanent Magnet Group, Goudsmit Magnetics Group, and TDK Corporation, are some of the major permanent magnet companies worldwide."},{"id":1113,"question":"How big is the permanent magnet market?","answer":"The market size of permanent magnet was reached USD 41.51 billion in 2023 and is expected to register 10.2% CAGR from 2024 to 2032, owing to the expanding application scope of permanent magnets in aerospace propulsion and defense technologies, coupled with the shift toward REE-free alternatives worldwide."},{"id":1113,"question":"What is the size of the Asia Pacific permanent magnet market?","answer":"Asia Pacific permanent magnet industry is expected to register 11.3% CAGR from 2024-2032 due to robust industrialization, technological advancements, and substantial investments in sectors like automotive, electronics, and renewable energy in the region. "},{"id":1113,"question":"Why is the demand for ferrite permanent magnet growing?","answer":"Permanent magnet industry from the ferrite segment is expected to register 9.9% CAGR from 2024-2032 due to cost-effectiveness and versatility of ferrite magnets across various applications."}]},"__N_SSP":true},"page":"/industry-analysis/[report_view]","query":{"report_view":"permanent-magnet-market"},"buildId":"gMjKCLn5exlmiiUGJRRJK","isFallback":false,"dynamicIds":[57719,34916,72828,46938,64668,66033,16942,25157,77870,40208,71982,74718,56924,78385,7983,7446],"gssp":true,"scriptLoader":[]}</script></body></html>