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PUBLISHER: Grand View Research | PRODUCT CODE: 1986609
PUBLISHER: Grand View Research | PRODUCT CODE: 1986609
Permanent Magnets Market Size, Share & Trends Analysis Report By Material (Ferrite, NdFeB, Alnico, SmCo), By Application (Automotive, Consumer Goods & Electronics, Medical, Aerospace & Defense), By Region, And Segment Forecasts, 2026 - 2033
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Permanent Magnets Market Summary
The global permanent magnets market size was estimated at USD 25.90 billion in 2025 and is projected to reach USD 47.40 billion by 2033, growing at a CAGR of 6.8% from 2026 to 2033. Permanent magnets are a material that generates its own persistent magnetic field without the need for an external power source or continuous electrical current.
Unlike electromagnets, which lose their magnetism when the electricity is switched off, permanent magnets retain their magnetic properties for a long duration, making them indispensable in various industrial applications.
The market is growing due to the rapid acceleration of the automotive industry's shift toward electrification, which reached a historic milestone in 2025. During that year, global electric vehicle (EV) sales surged to 20.7 million units, a 20% increase compared to 2024, with battery electric vehicles (BEVs) accounting for over 20% of all vehicles sold globally. This growth is particularly concentrated in China, where over 13 million EVs were sold in 2025 alone.
The global push for renewable energy is another significant catalyst, as renewable power capacity is projected to increase by almost 4,600 GW between 2025 and 2030, double the deployment of the previous five years. Growth in solar PV more than doubles in this period, accounting for nearly 80% of worldwide renewable electricity capacity expansion, driven by low module costs and efficient permitting. While solar utilizes magnets in tracking sensors and specialized inverters, the wind sector remains a heavy consumer; cumulative onshore wind capacity is expected to reach 732 GW by 2030, with offshore wind capacity doubling to 140 GW, fuelling the need for the massive magnetic generators used in direct-drive turbines.
Industrial automation and the rise of robotics are further propelling the demand for precision magnetic solutions. Modern manufacturing facilities increasingly use permanent magnet synchronous motors (PMSMs) and actuators to achieve higher precision, speed, and energy efficiency. In the field of robotics, the need for miniaturized yet powerful components are driving the adoption of bonded and sintered magnets. These materials enable robots to perform intricate tasks with high repeatability, making them vital for the evolution of Industry 4.0 and automated supply chains.
Moreover, the continuous evolution of consumer electronics and medical technology sustains high demand. In electronics, the trend toward miniaturization requires smaller, more powerful magnets for devices like smartphones, laptops, and high-fidelity audio equipment. Simultaneously, the medical sector uses these magnets in critical diagnostic tools, such as Magnetic Resonance Imaging (MRI) machines, and in advanced surgical instruments.
Global Permanent Magnets Market Report Segmentation
This report forecasts revenue and volume growth at global; regional; and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global permanent magnets market report based on the application, material, and region.
- Material Outlook (Volume, Kilotons; Revenue, USD Million; 2021 - 2033)
- Ferrite
- Neodymium Iron Boron (NdFeB)
- Aluminum Nickel Cobalt (Alnico)
- Samarium Cobalt (SmCo)
- Application Outlook (Volume, Kilotons; Revenue, USD Million; 2021 - 2033)
- Automotive
- Consumer Goods & Electronics
- Industrial
- Medical
- Aerospace & Defense
- Others
- Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2021 - 2033)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
Product Code: 978-1-68038-058-3
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Data Analysis Models
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables; Trends; and Scope
- 3.1. Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Technology Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.6. Porter's Five Forces Analysis
- 3.6.1. Bargaining Power of Suppliers
- 3.6.2. Bargaining Power of Buyers
- 3.6.3. Threat of Substitution
- 3.6.4. Threat of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTLE Analysis
- 3.7.1. Political
- 3.7.2. Economic
- 3.7.3. Social Landscape
- 3.7.4. Technology
- 3.7.5. Environmental
- 3.7.6. Legal
Chapter 4. Permanent Magnets Market: Material Estimates & Trend Analysis
- 4.1. Permanent Magnets Market: Material Movement Analysis; 2025 & 2033
- 4.2. Ferrite
- 4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.3. Neodymium Iron Boron (NdFeB)
- 4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.4. Aluminum Nickel Cobalt (Alnico)
- 4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.5. Samarium Cobalt (SmCo)
- 4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
Chapter 5. Permanent Magnets Market: Application Estimates & Trend Analysis
- 5.1. Permanent Magnets Market: Application Movement Analysis; 2025 & 2033
- 5.2. Automotive
- 5.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.3. Consumer Goods & Electronics
- 5.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.4. Industrial
- 5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.5. Medical
- 5.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.6. Energy
- 5.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.7. Aerospace & Defense
- 5.7.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.8. Others
- 5.8.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
Chapter 6. Permanent Magnets Market: Regional Estimates & Trend Analysis
- 6.1. Regional Analysis; 2025 & 2033
- 6.2. North America
- 6.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.2.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.2.4. U.S.
- 6.2.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.4.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.2.4.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.2.5. Canada
- 6.2.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.5.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.2.5.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.2.6. Mexico
- 6.2.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.6.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.2.6.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.3. Europe
- 6.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.3.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.3.4. Germany
- 6.3.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.4.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.3.4.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.3.5. UK
- 6.3.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.5.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.3.5.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.3.6. France
- 6.3.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.6.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.3.6.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.4. Asia Pacific
- 6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.4.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.4.4. China
- 6.4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.4.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.4.4.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.4.5. India
- 6.4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.5.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.4.5.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.4.6. Japan
- 6.4.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.6.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.4.6.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.5. Latin America
- 6.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.5.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.5.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.5.4. Brazil
- 6.5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.5.4.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.5.4.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
- 6.6. Middle East & Africa
- 6.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.6.2. Market estimates and forecasts, by application; 2021 - 2033 (USD Million) (Kilotons)
- 6.6.3. Market estimates and forecasts, by material; 2021 - 2033 (USD Million) (Kilotons)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis; By Key Market Participants
- 7.2. Company Categorization
- 7.3. Heat Map Analysis
- 7.4. Vendor Landscape
- 7.4.1. List of distributors
- 7.5. List of prospective end-users
- 7.6. Strategy Initiatives
- 7.7. Company Profiles/Listing
- 7.7.1. Adams Magnetic Products Co.
- 7.7.1.1. Company Overview
- 7.7.1.2. Financial Performance
- 7.7.1.3. Product Benchmarking
- 7.7.2. Earth-Panda Advance Magnetic Material Co.; Ltd.
- 7.7.2.1. Company Overview
- 7.7.2.2. Financial Performance
- 7.7.2.3. Product Benchmarking
- 7.7.3. Arnold Magnetic Technologies
- 7.7.3.1. Company Overview
- 7.7.3.2. Financial Performance
- 7.7.3.3. Product Benchmarking
- 7.7.4. Daido Steel Co.; Ltd.
- 7.7.4.1. Company Overview
- 7.7.4.2. Financial Performance
- 7.7.4.3. Product Benchmarking
- 7.7.5. Eclipse Magnetics Ltd.
- 7.7.5.1. Company Overview
- 7.7.5.2. Financial Performance
- 7.7.5.3. Product Benchmarking
- 7.7.6. Electron Energy Corp.
- 7.7.6.1. Company Overview
- 7.7.6.2. Financial Performance
- 7.7.6.3. Product Benchmarking
- 7.7.7. Goudsmit Magnetics Group
- 7.7.7.1. Company Overview
- 7.7.7.2. Financial Performance
- 7.7.7.3. Product Benchmarking
- 7.7.8. Hangzhou Permanent Magnet Group
- 7.7.8.1. Company Overview
- 7.7.8.2. Financial Performance
- 7.7.8.3. Product Benchmarking
- 7.7.9. Magnequench International; LLC
- 7.7.9.1. Company Overview
- 7.7.9.2. Financial Performance
- 7.7.9.3. Product Benchmarking
- 7.7.10. Ningbo Yunsheng Co.; Ltd.
- 7.7.10.1. Company Overview
- 7.7.10.2. Financial Performance
- 7.7.10.3. Product Benchmarking
- 7.7.1. Adams Magnetic Products Co.
Product Code: 978-1-68038-058-3
List of Tables
- Table 1 Permanent magnets market estimates and forecasts, by ferrite, 2021 - 2033 (USD Million) (Kilotons)
- Table 2 Permanent magnets market estimates and forecasts, by neodymium iron boron (NdFeB), 2021 - 2033 (USD Million) (Kilotons)
- Table 3 Permanent magnets market estimates and forecasts, by aluminum nickel cobalt (Alnico), 2021 - 2033 (USD Million) (Kilotons)
- Table 4 Permanent magnets market estimates and forecasts, by samarium cobalt (SmCo), 2021 - 2033 (USD Million) (Kilotons)
- Table 5 Permanent magnets market estimates and forecasts, in automotive, 2021 - 2033 (USD Million) (Kilotons)
- Table 6 Permanent magnets market estimates and forecasts, in consumer goods & electronics, 2021 - 2033 (USD Million) (Kilotons)
- Table 7 Permanent magnets market estimates and forecasts, in automotive, 2021 - 2033 (USD Million) (Kilotons)
- Table 8 Permanent magnets market estimates and forecasts, in medical, 2021 - 2033 (USD Million) (Kilotons)
- Table 9 Permanent magnets market estimates and forecasts, in energy, 2021 - 2033 (USD Million) (Kilotons)
- Table 10 Permanent magnets market estimates and forecasts, in aerospace & defense, 2021 - 2033 (USD Million) (Kilotons)
- Table 11 Permanent magnets market estimates and forecasts, in others, 2021 - 2033 (USD Million) (Kilotons)
- Table 12 North America permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 13 North America permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 14 North America permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 15 U.S. permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 16 U.S. permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 17 U.S. permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 18 Canada permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 19 Canada permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 20 Canada permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 21 Mexico permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 22 Mexico permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 23 Mexico permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 24 Europe permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 25 Europe permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 26 Europe permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 27 Germany permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 28 Germany permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 29 Germany permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 30 France permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 31 France permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 32 France permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 33 UK permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 34 UK permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 35 UK permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 36 Asia Pacific permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 37 Asia Pacific permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 38 Asia Pacific permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 39 China permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 40 China permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 41 China permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 42 India permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 43 India permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 44 India permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 45 Japan permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 46 Japan permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 47 Japan permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 48 Japan permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 49 Latin America permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 50 Latin America permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 51 Latin America permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 52 Brazil permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 53 Brazil permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 54 Brazil permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
- Table 55 Middle East & Africa permanent magnets market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- Table 56 Middle East & Africa permanent magnets market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- Table 57 Middle East & Africa permanent magnets market estimates & forecasts, by material, 2021 - 2033 (USD Million) (Kilotons)
List of Figures
- Fig. 1 Market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Market snapshot
- Fig. 6 Segmental outlook
- Fig. 7 Competitive outlook
- Fig. 8 Permanent magnets market outlook, 2021 - 2033 (USD Million) (Kilotons)
- Fig. 9 Value chain analysis
- Fig. 10 Market dynamics
- Fig. 11 Porter's analysis
- Fig. 12 PESTEL analysis
- Fig. 13 Permanent magnets market, by material: Key takeaways
- Fig. 14 Permanent magnets market, by material: Market share, 2025 & 2033
- Fig. 15 Permanent magnets market, by application: Key takeaways
- Fig. 16 Permanent magnets market, by application: Market share, 2025 & 2033
- Fig. 17 Permanent magnets market: Regional analysis, 2024
- Fig. 18 Permanent magnets market, by region: Key takeaways
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