Magnets, including permanent magnet ferrite, soft magnetic ferrite, and rare earth magnets, are essential components in industries ranging from home appliances to medical devices. The market operates within the advanced materials sector, driven by electrification, technological advancements, and industrial automation. Its diversity in applications and reliance on rare earth supply chains distinguish it, though environmental and cost concerns shape its evolution. Innovations focus on sustainability and performance optimization.
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Market Size and Growth Forecast
The global magnet market is estimated at USD 36.0 billion to USD 36.2 billion in 2025, with a CAGR of 1.5% to 2.5% from 2025 to 2030, reaching approximately USD 38.7 billion to USD 41.5 billion by 2030.Regional Analysis
Asia Pacific holds 74.0% of the market, growing at 1.8-2.8%. China dominates with manufacturing strength, trending toward rare earth dominance and green tech. Japan and India follow, focusing on electronics and transportation. North America has 11.1%, growing at 1.0-2.0%. The U.S. leads with medical and industrial use, trending toward supply diversification. Europe accounts for 13.0%, growing at 1.2-2.2%, with Germany emphasizing automotive applications. The Middle East and Africa (MEA) hold 1.2%, growing at 1.5-2.5%, with industrial trends. South America has 0.7%, growing at 1.0-2.0%, with Brazil focusing on appliances.Application Analysis
Transportation accounts for 36.5%, growing at 2.0-3.0%, driven by electric vehicles, with trends in efficiency. Home appliances represent 20.0%, growing at 1.0-2.0%, with consumer demand steady. Consumer electronics hold 17.1%, growing at 1.5-2.5%, trending toward miniaturization. Industrial applications have 12.7%, growing at 1.0-2.0%, with automation focus. Medical applications account for 7.5%, growing at 2.0-3.0%, with imaging trends. Others hold 6.0%, growing variably.Product Type Analysis
Permanent magnet ferrite holds 54.7%, growing at 1.0-2.0%, favored for cost, with trends in appliances. Soft magnetic ferrite accounts for 24.9%, growing at 1.5-2.5%, used in electronics, trending toward efficiency. Rare earth magnets represent 18.1%, growing at 2.0-3.0%, with high-performance trends in transportation. Others hold 2.2%, growing variably.Key Market Players
- DMEGC: Specializes in ferrite magnets.
- Zhongke Sanhuan: Focuses on rare earth magnets.
- Yantai Zhenghai: Supplies high-performance magnets.
- JL MAG: Innovates in rare earths.
- Ningbo Yunsheng: Targets industrial use.
- Tianhe: Offers broad magnet types.
- Innuovo: Focuses on electronics.
- Anhui Earth-Panda: Supplies rare earths.
- Galaxy Magnets: Serves appliances.
- Sinosteel New Materials: Expands regionally.
- Sinomag Technology: Targets Asia.
- Fujian Changting Jinlong: Innovates in ferrite.
- Ningbo Ketian: Supplies industrial magnets.
- Proterial: Focuses on advanced materials.
- TDK: Offers electronics magnets.
- Shin-Etsu Chemical: Supplies rare earths.
- Lynas Rare Earths: Focuses on rare earth supply.
- Daido Electronics: Targets transportation.
Porter’s Five Forces Analysis
- Threat of New Entrants: Medium. Capital and supply chain barriers balance with demand.
- Threat of Substitutes: Medium. Alternative materials compete in niche uses.
- Bargaining Power of Buyers: High. Large industries demand cost efficiency.
- Bargaining Power of Suppliers: High. Rare earth scarcity gives leverage.
- Competitive Rivalry: High. Players compete on price and performance.
Market Opportunities and Challenges
Opportunities
- Electrification: Boosts transportation demand.
- Sustainability: Drives eco-friendly innovations.
Challenges
- Rare earth supply: Limits rare magnet growth.
- Cost pressures: Challenge profitability.
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Table of Contents
Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
Chapter 7 Latest Market Dynamics
Chapter 8 Trading Analysis
Chapter 9 Historical and Forecast Magnet Market in North America (2020-2030)
Chapter 10 Historical and Forecast Magnet Market in South America (2020-2030)
Chapter 11 Historical and Forecast Magnet Market in Asia & Pacific (2020-2030)
Chapter 12 Historical and Forecast Magnet Market in Europe (2020-2030)
Chapter 13 Historical and Forecast Magnet Market in MEA (2020-2030)
Chapter 14 Summary For Global Magnet Market (2020-2025)
Chapter 15 Global Magnet Market Forecast (2025-2030)
Chapter 16 Analysis of Global Key Vendors
List of Tables and Figures
Companies Mentioned
- DMEGC
- Zhongke Sanhuan
- Yantai Zhenghai
- JL MAG
- Ningbo Yunsheng
- Tianhe
- Innuovo
- Anhui Earth-Panda
- Galaxy Magnets
- Sinosteel New Materials
- Sinomag Technology
- Fujian Changting Jinlong
- Ningbo Ketian
- Proterial
- TDK
- Shin-Etsu Chemical
- Lynas Rare Earths
- Daido Electronics