Press release
Electronic Device Magnets Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Electronic Device Magnets Market
The electronic device magnets market has experienced rapid growth in recent years. It is expected to grow from $27.33 billion in 2024 to $30.15 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.3%. Key factors contributing to this growth include the personal computing boom, trends in mobile computing, BYOD (bring your own device) policies, cloud computing adoption, and increasing security concerns and compliance requirements.
The electronic device magnets market will grow to $42.44 billion by 2029 at a CAGR of 8.9%, driven by hybrid work models, AI/ML advancements, and virtual/augmented reality integration. Trends include technological convergence, digital transformation, and cybersecurity solutions.
What Factors Are Propelling the Expansion of the Electronic Device Magnets Market?
The increasing demand for compact and efficient magnets is expected to drive the growth of the electronic device magnet market in the coming years. Compact and efficient magnets are characterized by high magnetic strength in small sizes, making them useful for applications in robotics, industrial automation, electric vehicles, and the renewable energy sector. These magnets are crucial in electronic devices for functions such as sensors, actuators, and data storage, boosting energy efficiency, miniaturization, and overall performance. For example, in June 2022, the Bureau of Industry and Security (BIS) reported that the U.S. is highly reliant on imports for sintered NdFeB magnets, with 75% of the supply coming from China. As a result, the rising demand for compact and efficient magnets is driving the growth of the electronic device magnet market.
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Which Businesses Are at the Forefront of Electronic Device Magnets Market Development?
Major companies operating in the electronic device magnets market report are Shin-Etsu Chemical Co. Ltd., TDK Corporation, Hitachi Metals Ltd., Yantai Shougang Magnetic Materials Inc., Vacuumschmelze GmbH & Co. KG, Yantai Zhenghai Material Co. Ltd., Arnold Magnetic Technologies, Hangzhou Permanent Magnet Group, Thomas & Skinner Inc., Magx America Inc., Bunting Magnetics Co., Industrial Magnetics Inc., Electron Energy Corporation, Magnum Magnetics Corporation, Viona Magnetics, JPMF Guangdong Co. Ltd., Ninggang Permanent Magnetic Materials Co. Ltd., Intermetallics Japan Corporation, Ningbo Co-Star Materials Hi-Tech Co. Ltd., Risheng Magnets International Co. Ltd., Magnequench, Permanent Magnets Ltd., Magnetic Hold Inc., OneMonroe (Monroe Engineering Products), Magnetic Component Engineering, Integrated Magnetics, Magnet Technology
How Is the Electronic Device Magnets Market Segmented?
The electronic device magnets market covered in this report is segmented -
1) By Product Type: Ferrite Magnets, Neodymium Magnets, Samarium Cobalt Magnets, Alnico Magnets
2) By Material Type: Permanent Magnets, Electromagnets
3) By End User: Consumer Electronics, Aerospace and Defense, Industrial and Automation, Healthcare, Automotive, Energy, Consumer Goods, Others
Subsegments:
1) By Ferrite Magnets: Soft Ferrite Magnets, Hard Ferrite Magnets
2) By Neodymium Magnets: Sintered Neodymium Magnets, Bonded Neodymium Magnets
3) By Samarium Cobalt Magnets: SmCo5 Magnets, Sm2Co17 Magnets
4) By Alnico Magnets: Cast Alnico Magnets, Sintered Alnico Magnets
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Where Is the Electronic Device Magnets Market Growth Most Prominent?
Asia Pacific was the largest region in the electronic device magnets market in 2024. The regions covered in the electronic device magnets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Electronic Device Magnets Global Market Report?
- Market Size Analysis: Analyze the Electronic Device Magnets Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electronic Device Magnets Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electronic Device Magnets Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electronic Device Magnets Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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