PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1881227
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1881227
The rare earth magnets market is projected to grow from USD 21.98 billion in 2025 to USD 30.01 billion by 2030, at a CAGR of 6.4% during the forecast period.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2023-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | Value (USD Million/Billion) / Volume (Kiloton) |
| Segments | Type, Manufacturing Process, End-use Industry, and Region |
| Regions covered | North America, Asia Pacific, Europe, the Middle East & Africa, and South America |
This market is set for rapid growth, primarily driven by rising demand in sectors like consumer electronics, wind turbines, and electric vehicles (EVs). These magnets are renowned for their exceptional strength and energy efficiency, enabling lightweight and compact designs essential for modern technology.

In consumer electronics, they support the miniaturization of devices, while in renewable energy, they enhance the efficiency of wind turbines. Additionally, the electric vehicle industry relies on these magnets for improved motor and battery performance. As industries move toward greater energy efficiency and sustainability, rare earth magnets will play a crucial role in advancing green technology.
"The NdFeB segment projected to be the faster-growing market during the forecast period."
In the next years, it is estimated that neodymium-iron-boron (NdFeB) magnets will account for the largest percentage of the increase of the rare earth magnets market. This is basically due to their exceptionally strong magnetic power and high-performance application efficiency. The industry expansion is attributed to the usage of such magnets in consumer electronic devices, robots, wind turbines, and electric vehicles. Consequently, driven by the worldwide shift to clean energy and electrification, durable and light magnets such as NdFeB are gaining a significant share in the motors and generators.
"The sintered segment is projected to be the larger segment during the forecast period."
The sintered manufacturing process for rare earth magnets is widely used because it produces magnets that are stronger, more stable at higher temperatures, and have a more uniform structure than bonded magnets. This method lets manufacturers control the alignment of grains in the magnets, resulting in better magnetic performance. Sintering works well for high-performance uses like electric vehicles, wind turbines, and industrial motors, making it the top choice worldwide.
"The automotive segment market is projected to have the fastest growth during the forecast period."
The rare earth magnets have an increasingly rapid application in the automotive end-use industry. The employment of rare earth magnets in the automobile sector is increasing as a result of the fast change to electric and hybrid vehicles. Such magnets, particularly the NdFeB kinds, are the main source of the high-performance electric motors. They offer improved power density, efficiency, and volume. These enable lighter designs, enhance energy efficiency, and facilitate the use of features such as regenerative braking and power steering, thus, they become indispensable for the new mobility systems.
"In terms of value, the Asia Pacific rare earth magnets market is projected to grow at the highest CAGR during the forecast period."
Asia Pacific is estimated to lead the global market of rare earth magnets because of its manufacturing base mainly in China, Japan, and South Korea, where both producers and end-use industries are located. The fast industrialization and electric vehicle (EV) revolution in the area, particularly in China, creates an enormous demand for rare earth magnets. The consumption is further intensified by the booming electronics and renewable energy sectors. The growth is backed by government policies aimed at clean energy and electric mobility. Besides, China's plentiful rare earth resources and its strong refining capabilities make the region very competitive worldwide.
By Company Type: Tier 1: 55%, Tier 2: 30%, and Tier 3: 15%
By Designation: C-level Executives: 30%, Directors: 25%, and Other Designations: 45%
By Region: North America: 27%, Europe: 20%, Asia Pacific: 33%, South America: 12%, and Middle East & Africa 8%
Notes: Other designations include sales, marketing, and product managers
Tier 1: Greater than USD 1 billion; Tier 2: Between USD 500 million and USD 1 billion; and Tier 3: Lesser than USD 500 million
Companies Covered: Proterial, Ltd. (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), TDK Corporation (Japan), VACUUMSCHMELZE (Germany), JL MAG Rare-Earth Co., Ltd. (China), Beijing Zhong Ke San Huan High-Tech Co., Ltd. (China), Arnold Magnetic Technologies (US), Neo Performance Materials (Canada), Ningbo Yunsheng Co., Ltd. (China), and Adams Magnetic Products (US), among others, are covered in the report.
The study includes an in-depth competitive analysis of these key players in the rare earth magnets market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This research report categorizes the rare earth magnets market based on type (NdFeB, SmCo), manufacturing process (sintered, bonded), end-use industry (automotive, consumer electronics, energy, industrial, aerospace & defense, others), and region (Asia Pacific, North America, Europe, South America, and the Middle East & Africa). The report's scope covers detailed information regarding the drivers, restraints, challenges, and opportunities influencing the growth of the rare earth magnets market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products offered, and key strategies, such as partnerships, collaborations, product launches, expansions, and acquisitions, associated with the rare earth magnets market. This report covers a competitive analysis of upcoming startups in the rare earth magnets market ecosystem.
Reasons to Buy the Report
The report will offer the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall rare earth magnets market and the subsegments. This report will help stakeholders understand the competitive landscape, gain more insights into positioning their businesses better, and plan suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.