Rare Earth Magnet Global Market Report 2026

Rare earth magnets are powerful permanent magnets made from alloys that include rare earth elements. Known for their exceptionally high magnetic strength and efficiency, these magnets are essential in modern technologies due to their ability to retain strong magnetism in compact sizes. They are widely used in advanced electronics, medical equipment, and renewable energy systems.

The main types of rare earth magnets include sintered neodymium-iron-boron, bonded neodymium-iron-boron, samarium-cobalt, praseodymium-neodymium-iron-boron, and dysprosium-neodymium-iron-boron. Sintered NdFeB magnets, produced through powder metallurgy, are high-strength permanent magnets commonly used in demanding applications such as motors, turbines, and data storage. These magnets are available in various grades-high-performance, mid-performance, and low-performance-and are utilized across numerous industries, including automotive, consumer electronics, energy, healthcare, industrial equipment, and others.

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 rare earth magnets and related alloys have impacted the market by increasing costs and affecting supply chains, especially for neodymium, samarium, and dysprosium-based products. Automotive and consumer electronics segments are most affected, particularly in north america, europe, and asia-pacific regions. While tariffs have increased production expenses, they have incentivized local sourcing, promoted domestic production of rare earth materials, and encouraged innovation in high-performance and alternative magnet solutions.

The rare earth magnet market research report is one of a series of new reports from The Business Research Company that provides rare earth magnet market statistics, including rare earth magnet industry global market size, regional shares, competitors with a rare earth magnet market share, detailed rare earth magnet market segments, market trends and opportunities, and any further data you may need to thrive in the rare earth magnet industry. This rare earth 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 rare earth magnet market size has grown strongly in recent years. It will grow from $18.86 billion in 2025 to $20.26 billion in 2026 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to growth in automotive electric motor applications, rising consumer electronics production, increasing renewable energy installations, expansion of medical equipment usage, development of high-strength rare earth alloys.

The rare earth magnet market size is expected to see strong growth in the next few years. It will grow to $26.99 billion in 2030 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increasing adoption in electric vehicles, rising demand in wind turbine generators, growth in miniaturized electronic devices, expansion in industrial automation equipment, development of heavy rare earth free magnet alternatives. Major trends in the forecast period include rising adoption of high-performance neodymium-iron-boron magnets, increasing use of samarium-cobalt magnets in industrial applications, growing demand for corrosion-resistant rare earth magnets, rising development of low dysprosium content magnets, increasing application in compact and high-efficiency electronics.

The growing adoption of electric vehicles is expected to drive the expansion of the rare earth magnet market. Electric vehicles are powered by electric motors that run on energy stored in rechargeable batteries. The rise in electric vehicle adoption is largely driven by increasing environmental concerns, with both consumers and governments seeking to reduce carbon emissions and dependence on fossil fuels, leading to a shift toward cleaner, more sustainable transportation options. Rare earth magnets play a crucial role in electric vehicles by enabling powerful, compact electric motors that enhance energy efficiency and vehicle performance. For example, in January 2024, the U.S. Energy Information Administration, a government agency, reported that combined sales of hybrid, plug-in hybrid, and battery electric vehicles accounted for 16.3% of total U.S. light-duty vehicle sales in 2023, up from 12.9% in 2022, indicating a significant shift toward electrified transportation. As a result, the growing adoption of electric vehicles is contributing to the growth of the rare earth magnet market.

Companies in the rare earth magnet market are increasingly focusing on integrating innovative technologies, such as advanced artificial intelligence (AI), to boost production efficiency, enhance product quality, and optimize supply chain management. AI technologies play a key role by improving the design and production processes, predicting material behavior, and enhancing manufacturing operations. For instance, AI can help with precise material modeling, reduce waste, and ensure the production of higher-quality magnets. In June 2024, UK-based Materials Nexus Limited, specializing in AI-driven material discovery, announced the development of MagNex-a rare earth-free permanent magnet created in just three months using its AI-powered platform. This innovation, developed in collaboration with the Henry Royce Institute and the University of Sheffield, offers a more sustainable alternative to traditional magnets, with an 80% reduction in production costs and a 70% decrease in carbon emissions. MagNex is particularly suited for high-demand industries such as electric vehicles, wind turbines, robotics, and drones.

In April 2025, Realloys Inc., a U.S.-based manufacturing company, acquired PMT Critical Metals for an undisclosed sum. This acquisition aims to solidify Realloys' position as a key supplier of high-performance magnet materials for U.S. protected markets, including the National Defense Stockpiles, Defense Industrial Base, and Nuclear Industrial Base. PMT Critical Metals specializes in producing rare earth magnets, which are essential for various high-tech and clean energy applications.

Major companies operating in the rare earth magnet market report are Shin-Etsu Chemical Co. Ltd., TDK Corporation, Hitachi Metals, China Northern Rare Earth Group, Beijing Zhong Ke Magnetic Materials, Zhong Ke San Huan High-Tech Co., Ningbo Yunsheng Co. Ltd., Lynas Rare Earths Ltd., MP Materials Corp., Arnold Magnetic Technologies, Bunting Magnetics Co., Goudsmit Magnetics, Eclipse Magnetics Ltd., Electron Energy Corporation, Toshiba Materials Co. Ltd., Adams Magnetic Products, Shenzhen Zhaobao Magnet Co Ltd., Dura Magnetics Inc., Magnet Applications Inc., Ucore Rare Metals Inc., Rare Element Resources Ltd, Earth-Panda Advance Magnetic Material Co. Ltd.

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

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

The rare earth magnet market consists of sales of neodymium (NdFeB) magnets, samarium-cobalt (SmCo) magnets, cerium magnets, alnico magnets, bonded rare earth magnets, sintered rare earth magnets, and magnetostrictive materials. 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.

Rare Earth 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 rare earth 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 rare earth 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 rare earth 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 Product Type: Sintered Neodymium-Iron-Boron; Bonded Neodymium-Iron-Boron; Samarium-Cobalt; Praseodymium-Neodymium-Iron-Boron; Dysprosium-Neodymium-Iron-Boron
• 2) By Grade: High-Performance; Mid-Performance; Low-Performance
• 3) By End User: Automotive; Consumer Electronics; Energy; Healthcare; Industrial Equipment; Other End Users
• Subsegments:
• 1) By Sintered Neodymium-Iron-Boron: High Coercivity Grades; High Remanence Grades; High Operating Temperature Grades; Low Dysprosium Content Grades
• 2) By Bonded Neodymium-Iron-Boron: Compression Molded; Injection Molded; Extrusion Molded; Calendared
• 3) By Samarium-Cobalt: Samarium-Cobalt 5 (Smco5); Samarium-Cobalt 17 (Sm2co17)
• 4) By Praseodymium-Neodymium-Iron-Boron: High Magnetic Energy Product; Corrosion-Resistant Grades; Low-Temperature Coefficient Grades
• 5) By Dysprosium-Neodymium-Iron-Boron: High Thermal Stability Grades; Heavy Rare Earth Free Alternatives; Dy-Coated Microstructure Grades
• Companies Mentioned: Shin-Etsu Chemical Co. Ltd.; TDK Corporation; Hitachi Metals; China Northern Rare Earth Group; Beijing Zhong Ke Magnetic Materials; Zhong Ke San Huan High-Tech Co.; Ningbo Yunsheng Co. Ltd.; Lynas Rare Earths Ltd.; MP Materials Corp.; Arnold Magnetic Technologies; Bunting Magnetics Co.; Goudsmit Magnetics; Eclipse Magnetics Ltd.; Electron Energy Corporation; Toshiba Materials Co. Ltd.; Adams Magnetic Products; Shenzhen Zhaobao Magnet Co Ltd.; Dura Magnetics Inc.; Magnet Applications Inc.; Ucore Rare Metals Inc.; Rare Element Resources Ltd; Earth-Panda Advance Magnetic Material Co. 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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