PUBLISHER: Roots Analysis | PRODUCT CODE: 1854907
PUBLISHER: Roots Analysis | PRODUCT CODE: 1854907
As per Roots Analysis, the global advanced magnetic materials market size is estimated to grow from USD 28.23 billion in the current year USD 64.67 billion by 2035, at a CAGR of 8.64% during the forecast period, till 2035.

The opportunity for advanced magnetic materials market has been distributed across the following segments:
Type of Magnetic Material
Type of End-User
Company Size
Geographical Regions
Advanced Magnetic Materials Market: Growth and Trends
Advanced magnetic materials comprise a range of substances that display remarkable magnetic characteristics, utilized in various industrial and technological fields. This sector includes materials such as rare-earth magnets, soft magnetic materials, and magnetostrictive materials, which are essential for the creation of electronic devices, automotive parts, medical instruments, and renewable energy applications. The demand for these materials is fueled by their role in improving the effectiveness and performance of products, ultimately contributing to technological progress and enabling energy conservation.
The market for advanced magnetic materials is witnessing considerable growth due to the increasing demand from industries such as automotive, electronics, and renewable energy. These materials, which include neodymium iron boron (NdFeB) and samarium cobalt (SmCo) magnets, are vital in producing high-performance motors, sensors, and transformers. The emphasis on energy efficiency, combined with advancements in electric vehicles and wind energy, is leading to a higher usage of these magnetic materials.
In addition, as the electronics sector evolves, the need for magnetic materials with superior properties such as enhanced magnetic strength and better thermal stability is on the rise. As a result, owing to the above mentioned factors, the advanced magnetic materials market is expected to experience significant growth during the forecast period.
Advanced Magnetic Materials Market: Key Segments
Based on type of magnetic material, the global advanced magnetic materials market is segmented into alnico magnets, ferrite magnets, permanent magnet materials, rare-earth magnets, semi-hard magnetic materials and soft magnetic materials. According to our estimates, currently, the permanent magnet materials segment captures the majority of the market share. This can be attributed to the unique properties and advantages across various applications. Their exceptional magnetic strength makes them particularly suitable for tasks that require strong magnetic fields, such as electric motors, generators, and magnetic separators.
Conversely, soft magnetic materials segment is anticipated to grow at a higher CAGR during the forecast period. This increase can be attributed to their extensive application in electronic devices and power generation, where energy efficiency is vital.
Based on type of end-user, the global advanced magnetic materials market is segmented into automotive, electronics, industrial, medical, power generation, and others. According to our estimates, currently, the automotive segment captures the majority of the market share. This can be attributed to the rising adoption of electric vehicles, which drives the demand for advanced magnetic materials and power electronics.
In addition, the electronics segment is expected to grow at a higher CAGR during the forecast period. This growth is fueled by innovations in consumer electronics, telecommunications, and data storage technologies, which increase the demand for cutting-edge magnetic materials.
Based on company size, the global advanced magnetic materials market is segmented into large enterprises and small and medium-sized enterprises. According to our estimates, currently, the large enterprises segment captures the majority of the market share. However, the small and medium enterprises are expected to grow at a higher CAGR during the forecast period. This is attributed to their nimbleness, innovation, targeting of niche markets, and capability to adjust to evolving customer preferences and market dynamics.
Based on geographical regions, the advanced magnetic materials market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, Asia-Pacific captures the majority share of the market. This increase can be attributed to the automotive sector, the rising utilization of renewable energy for power generation, and demands from the medical and healthcare fields. Additionally, low interest rates, the presence of well-established companies, and strict environmental regulations that promote the adoption of electric vehicles are contributing further to the growth of the market.
Advanced Magnetic Materials Market: Research Coverage
The report on the advanced magnetic materials market features insights on various sections, including:
Key Questions Answered in this Report
Reasons to Buy this Report
Additional Benefits