Global Permanent Magnets Market Size & Outlook, 2023-2030
The global permanent magnets market size was estimated at USD 22,175.9 million in 2023 and is projected to reach USD 39,708.9 million by 2030, growing at a CAGR of 8.7% from 2024 to 2030.
Revenue, 2023 (US$M)
$22,175.9
Forecast, 2030 (US$M)
$39,708.9
CAGR, 2024 - 2030
8.7%
Report Coverage
Worldwide
Global permanent magnets market, 2018-2030 (US$M)
Related Markets
Global permanent magnets market highlights
- The global permanent magnets market generated a revenue of USD 22,175.9 million in 2023 and is expected to reach USD 39,708.9 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 8.7% by 2030.
- In terms of segment, ndfeb accounted for a revenue of USD 15,630.4 million in 2023.
- NdFeB is the most lucrative material segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 22,175.9 million |
| Market revenue in 2030 | USD 39,708.9 million |
| Growth rate | 8.7% (CAGR from 2024 to 2030) |
| Largest segment | Ndfeb |
| Fastest growing segment | NdFeB |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Ferrite, Alnico, NdFeB, SmCo |
Other key industry trends
- In terms of revenue, the North America accounted for 9.0% of the global permanent magnets market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, India is the fastest growing regional market and is projected to reach USD 1,382.7 million by 2030.
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Permanent Magnets Market Scope
Permanent magnets market segmentation & scope
Permanent Magnets Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Pacific Metals | View profile | 251-500 | Otemachi, Tokyo, Japan, Asia | https://www.pacific-metals.co.jp/ |
| SsangYong | View profile | 1001-5000 | Pyongtaek, Kyonggi-do, South Korea, Asia | http://www.smotor.com |
| Umag | View profile | 11-50 | Mapo, Seoul-t'ukpyolsi, South Korea, Asia | http://umag.io |
| Thomas Skinner | View profile | 101-250 | Richmond, British Columbia, Canada, North America | https://www.thomasskinner.com |
| Ningbo Ninggang Permanent Magnetic Materials Co. | View profile | 101-250 | Ningbo, Zhejiang, China, Asia | https://www.ngyc.com |
| Ningbo Yunsheng | View profile | - | Ningbo, Zhejiang, China, Asia | http://www.yunsheng.com/ |
| Magnequench International | View profile | 5001-10000 | Singapore, Central Region, Singapore, Asia | http://www.mqitechnology.com |
| Hangzhou Permanent Magnet Group | View profile | 101-250 | Hangzhou, Zhejiang, China, Asia | http://chinahpmg.com |
| Electron Energy Corporation | View profile | 101-250 | Landisville, New Jersey, United States, North America | http://electronenergy.com |
| Eclipse Magnetics | View profile | 101-250 | Sheffield, Sheffield, United Kingdom, Europe | https://www.eclipsemagnetics.com/ |
| Daido Steel | View profile | 10001+ | Nagoya, Aichi, Japan, Asia | http://www.daido.co.jp/ |
| EARTH PANDA ADVANCED MAGNETIC MATERIAL CO LTD | View profile | 501-1000 | Hefei, Anhui, China, Asia | http://www.earth-panda.com |
| Adams Magnetic Products | View profile | 101-250 | Elmhurst, Illinois, United States, North America | https://adamsmagnetic.com |
| VACUUMSCHMELZE | View profile | 1001-5000 | Hanau, Hessen, Germany, Europe | http://www.vacuumschmelze.com/ |
| Arnold Magnetic Technologies | View profile | 501-1000 | Rochester, New York, United States, North America | http://www.arnoldmagnetics.com/ |
| TDK Corp | View profile | 102908 | Shibaura Renasite Tower, 3-9-1 Shibaura, Minato-ku, Tokyo, Japan | http://www.tdk.co.jp |
| Shin-Etsu Chemical Co Ltd | View profile | 25717 | 6-1, Ohtemachi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-0004 | http://www.shinetsu.co.jp |
Global permanent magnets market size, by regions, 2018-2030 (US$M)
Top 10 countries: Permanent magnets market size, 2023 (US$M)
Global permanent magnets market share, by material, 2023 & 2030 (%, US$M)
Permanent magnets market: Opportunity assessment by country
Global permanent magnets market, by region, 2023 (US$M)
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