Permanent Magnet Global Market Report 2026

A permanent magnet is a magnetized material that generates a strong magnetic field on its own and retains its magnetic characteristics in the absence of an external magnetizing force, such as a current or inducing field. These magnets find applications in various electronic products.

The main types of permanent magnets include ferrite magnets, samarium cobalt magnets, alnico magnets, and neodymium iron boron magnets. Ferrite magnets are composed of ceramic materials and iron oxide, making them widely used in transformers, electronic inductors, and electromagnets due to their availability and cost-effectiveness. Sales channels for permanent magnets include direct sales and distribution. Permanent magnets are utilized by end-users in diverse industries such as general industrial, automotive, medical technology, environment and energy, aerospace and defense, and consumer electronics.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on permanent magnets have impacted the market by increasing import costs and disrupting supply chains, particularly affecting neodymium iron boron and samarium cobalt magnets. Regions such as asia-pacific and europe, which rely heavily on imports, are most affected. While tariffs have increased production costs, they have also encouraged local manufacturing, stimulated domestic investments, and accelerated the development of cost-efficient magnetic materials.

The permanent magnet market research report is one of a series of new reports from The Business Research Company that provides permanent magnet market statistics, including permanent magnet industry global market size, regional shares, competitors with a permanent magnet market share, detailed permanent magnet market segments, market trends and opportunities, and any further data you may need to thrive in the permanent magnet industry. This permanent magnet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The permanent magnet market size has grown rapidly in recent years. It will grow from $41.8 billion in 2025 to $46.8 billion in 2026 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to rising demand from automotive industry, growth of consumer electronics market, increasing renewable energy projects, adoption of neodymium iron boron magnets, expansion of industrial automation.

The permanent magnet market size is expected to see rapid growth in the next few years. It will grow to $71.68 billion in 2030 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to growth in electric vehicle production, rising demand from medical technology, increasing aerospace and defense applications, expansion of environment and energy sector, adoption of advanced magnet grades in electronics. Major trends in the forecast period include development of high-performance neodymium magnets, advancements in samarium cobalt magnet technologies, customized magnetic solutions for industrial applications, integration of permanent magnets in consumer electronics, enhanced thermal and corrosion resistance of magnets.

The growing demand for automotive applications is expected to drive the growth of the permanent magnet market in the coming years. Permanent magnets are materials that produce a continuous magnetic field and are extensively used in electric motors, generators, sensors, and actuators, making them essential components in modern vehicles - particularly electric and hybrid models. Rising automotive demand is driven by factors such as rapid urbanization, increasing disposable incomes, and the accelerating adoption of electric vehicles as governments and manufacturers work to reduce emissions and improve fuel efficiency. Permanent magnets contribute to automotive advancement by enabling high-efficiency electric drivetrains, advanced driver-assistance systems, and energy-saving vehicle technologies. For example, in 2024, the International Energy Agency (IEA) - a France-based organization that provides information and guidance on global and clean energy policies - reported that electric cars accounted for about 18% of all vehicles sold in 2023, up from 14% in 2022. Therefore, the rising demand for automotive applications is supporting the expansion of the permanent magnet market.

Leading companies in the protein purification and isolation market are developing innovative products such as earth-free permanent magnets. An earth-free permanent magnet is a type of magnet that does not contain rare-earth elements like neodymium, samarium, or dysprosium, which are commonly used for their strong magnetic properties. For example, in June 2024, Materials Nexus, a UK-based quantum mechanics company, introduced MagNex, a groundbreaking permanent magnet that is free from rare-earth elements. This innovation reduces costs, minimizes supply chain risks, and delivers high performance with environmental benefits, representing a major advancement for industries such as electric vehicles and renewable energy. MagNex also lowers carbon emissions, reduces costs, and improves supply chain security by eliminating the reliance on rare-earth elements.

In November 2023, High Street Capital, a US-based private equity investment firm, acquired Adams Magnetic Products for an undisclosed sum. Through this acquisition, High Street Capital aims to collaborate with Adams' management team to foster organic revenue growth, expand into new markets and product lines, and uphold operational excellence through ongoing improvements. Adams Magnetic Products is a US-based company specializing in the manufacturing of permanent magnets and magnetic assemblies.

Major companies operating in the permanent magnet market report are Hitachi Ltd., Shin-Etsu Chemical Co. Ltd., Daido Steel Co. Ltd., Arnold Magnetic Technologies Corp., Electron Energy Corporation, Hangzhou Permanent Magnet Group, Hengdian Group DMEGC Magnetics Co. Ltd., Yantai Shougang Magnetic Materials Inc., Chengdu Galaxy Magnets Co. Ltd., Ningbo Vastsky Magnet Co. Ltd., Adams Magnetic Products Co. Inc., TDK Corporation, Dura Magnetics Inc., MagnaWorks Technology Inc., Eclipse Magnetics Ltd., Goudsmit Magnetics Ltd., Tengam Engineering Inc., Bunting Magnetics Co., Tokyo Magnetic Printing Co. Ltd., Zhong Ke San Huan Hi-Tech Co. Ltd., JL MAG Rare-Earth Co. Ltd., Proterial Ltd.

Asia-Pacific was the largest region in the permanent magnet market in 2025.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the permanent magnet market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the permanent magnet market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The permanent magnets market consists of sales of ceramic magnets, injection magnets, aluminum nickel cobalt magnets, and flexible magnets. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Permanent Magnet Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses permanent magnet market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for permanent magnet ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The permanent magnet market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Samarium Cobalt Magnets; Alnico Magnets; Neodymium Iron Boron Magnets
• 2) By Sales Channel Type: Direct Sales; Authorized Industrial Distributors; Specialty Magnet Integrators & Solution Providers
• 3) By End-Use: General Industrial; Automotive; Medical Technology; Environment And Energy; Aerospace And Defense; Consumer Electronics
• Subsegments:
• 1) By Samarium Cobalt Magnets: SmCo5 Magnets; Sm2Co17 Magnets
• 2) By Alnico Magnets: Cast Alnico Magnets; Sintered Alnico Magnets
• 3) By Neodymium Iron Boron Magnets: N35 Grade Magnets; N42 Grade Magnets; N52 Grade Magnets
• Companies Mentioned: Hitachi Ltd.; Shin-Etsu Chemical Co. Ltd.; Daido Steel Co. Ltd.; Arnold Magnetic Technologies Corp.; Electron Energy Corporation; Hangzhou Permanent Magnet Group; Hengdian Group DMEGC Magnetics Co. Ltd.; Yantai Shougang Magnetic Materials Inc.; Chengdu Galaxy Magnets Co. Ltd.; Ningbo Vastsky Magnet Co. Ltd.; Adams Magnetic Products Co. Inc.; TDK Corporation; Dura Magnetics Inc.; MagnaWorks Technology Inc.; Eclipse Magnetics Ltd.; Goudsmit Magnetics Ltd.; Tengam Engineering Inc.; Bunting Magnetics Co.; Tokyo Magnetic Printing Co. Ltd.; Zhong Ke San Huan Hi-Tech Co. Ltd.; JL MAG Rare-Earth Co. Ltd.; Proterial Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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