Press release
Polymer Bonded Magnet Market Growth Analysis, Market Dynamics, Key Players and Innovations, Outlook and Forecast 2025-2032
The Global Polymer Bonded Magnet Market size was valued at USD 2,346 million in 2024 and is projected to reach USD 3,670 million b
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▶ Key Market Drivers
Surging electric vehicle (EV) adoption driving demand for lightweight and efficient magnetic components.
Growth in infotainment systems and ADAS in conventional vehicles, boosting demand for compact and corrosion-resistant magnetic materials.
Increased use in consumer electronics for miniaturized and high-performance components.
▶ Market Segmentation Analysis
▶ By Product Type
Isotropic Polymer Bonded Magnets
Anisotropic Polymer Bonded Magnets
Anisotropic magnets dominate the market, accounting for 60-65% of the global share. Their superior magnetic strength-achieved through directional alignment during production-makes them ideal for high-performance automotive and industrial applications.
▶ By Type
• Injection Magnet
• Pressed Magnet
Injection molding remains a widely adopted method due to its capacity for high-volume production and intricate part geometries, aligning well with modern product design needs.
▶By Application
• Automotive
• Electrical and Electronics
• Household Appliances
• Medical and Healthcare Equipment
The automotive sector holds the largest market share due to its increasing demand for electric motors, actuators, and sensors in EVs and traditional vehicles. Notably, global electric car registrations reached 3.2 million in 2023, a 20% increase from 2022, further fueling market growth.
▶ By End User
• Automotive Industry
• Electronics and Electrical Industry
• Healthcare Industry
• Aerospace and Defense Industry
• Others (Industrial Machinery, Consumer Goods, etc.)
▶ Regional Insights
▶ Asia-Pacific Leads the Global Market
The Asia-Pacific (APAC) region leads both in market share and growth rate, with a projected CAGR of 7.7% through 2030. Key contributors include China, Japan, South Korea, and India, where rapid industrialization and EV expansion are pushing demand for lightweight, corrosion-resistant magnets.
▶ Other Key Regions
• North America: Steady growth due to advanced electronics and defense applications.
• Europe: High EV adoption, with electric cars accounting for 18% of all sales in 2023.
• Middle East & Africa and South America: Emerging markets with rising infrastructure and manufacturing investments.
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▶ Competitive Landscape
The global polymer bonded magnet market is highly competitive, marked by innovations in material science and product design. Key players focus on customization, energy efficiency, and lightweight solutions.
▶ Major Market Players
• Galaxy Magnets
• Zhong Ke San Huan
• Daido Electronics
• Magnequench International
• IMA
• NINGBO YUNSHENG
• Arnold Magnetic Technologies
• TDK
• MS-Schramberg
• Hengdian Group DMEGC Magnetics
• Sen Long Corporation
• Jiangmen Magsource New Material
• Advanced Technology & Materials
• Others
▶ Market Report Coverage
• Industry Trends & Growth Drivers
• SWOT and PESTEL Analysis
• Porter's Five Forces Analysis
• Production and Consumption by Region
• Competitive Benchmarking
• Marketing Channel & Distribution Analysis
• Forecasts: Supply, Demand & Pricing
▶ Opportunities & Challenges :
▶ Opportunities
Growing renewable energy sector (e.g., wind turbines, solar trackers).
Miniaturization of electronic components using high-performance magnets.
Innovation in magnet recycling and eco-friendly materials.
▶ Challenges
Raw material price volatility
Stringent environmental regulations
Competition from alternative magnet technologies
▶ Frequently Asked Questions (FAQ) :
▶ What is the current size of the polymer bonded magnet market?
As of 2024, the market is valued at USD 2,346 million.
▶ Which region dominates the polymer bonded magnet market?
Asia-Pacific dominates the global market due to rapid industrialization and high EV adoption.
▶ Who are the key players in the polymer bonded magnet market?
Key players include Galaxy Magnets, TDK, Magnequench International, Daido Electronics, and Zhong Ke San Huan.
▶ What is driving the demand for polymer bonded magnets in the automotive sector?
The rise of electric vehicles, ADAS, and fuel-efficient systems is driving demand in automotive applications.
▶ What are the main types of polymer bonded magnets?
The market is segmented into isotropic and anisotropic types, with anisotropic magnets leading due to higher performance.
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