Magnetic Materials Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts

The Magnetic Materials Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Magnetic Materials Market Size During the Forecast Period?
In recent times, there has been significant growth in the size of the magnetic materials market. It is predicted to raise from $35.17 billion in 2024 to $37.11 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.5%. Factors contributing to the growth during the historical period include the flourishing electronics industry, ingenious applications in the automotive field, expansion of telecommunications infrastructure, the emergence of renewable energy, and advancements in medical imaging.

The market for magnetic materials is predicted to witness robust expansion in the coming years, growing to a market value of $49.54 billion by 2029, with a compound annual growth rate (CAGR) of 7.5%. The expected growth in this period can be due to factors such as the rise of electric vehicles, the trend towards miniaturization, solutions for energy storage, the emergence of magnetocaloric cooling, and automation and robotics. Key trends that will mark this forecast period include the implementation of 5g technology, advancements in magnetic levitation technologies, developments in magnetic recording technology, the introduction of magnetic 3D printing, the integration of IoT, and the use of magnetic materials in the aerospace sector.

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What Are the High-Growth Segments in the Magnetic Materials Market?
The magnetic materials market covered in this report is segmented -

1) By Type: Hard Magnetic Materials, Soft Magnetic Materials, Semi-Hard Magnetic Materials
2) By Raw Materials: Neodymium, Ferrite, Alnico, Samarium Cobalt, Bonded NdFeB
3) By Orientation: Diamagnetic, Paramagnetic, Ferromagnetic, Anti-Ferromagnetic
4) By Application: Transformers, Motors, Inductors, Generators, Other Applications

Subsegments:
1) By Hard Magnetic Materials: Neodymium Iron Boron (NdFeB), Samarium Cobalt (SmCo), Ferrite Magnets
2) By Soft Magnetic Materials: Silicon Steel, Iron Powder, Amorphous Steel
3) By Semi-Hard Magnetic Materials: Cobalt Alloys, Permalloy

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What Key Drivers Are Expected to Influence Future Magnetic Materials Market Growth?
The magnetic material market is projected to expand due to an increasing demand within the automotive industry. This industry, which involves the creation, marketing, and sales of vehicles like cars, trucks, motorcycles, and others, is not only growing but influencing the application of magnetic materials. These materials are integral in several parts and systems in automobiles and affect their overall performance, safety, and efficiency. To illustrate, the Organisation Internationale des Constructeurs d'Automobiles (OICA), an international association of car manufacturers in France, reported that the global automotive industry saw remarkable growth in 2023. Vehicle production numbers reached 93546599 units, a significant leap from the 85016728 units produced the previous year in 2022. Thus, the surging demand in the automotive sector fuels the expansion of the magnetic material market.

Which Companies Hold the Largest Share Across Different Magnetic Materials Market Segments?
Major companies operating in the magnetic materials market include TDK Corporation, Daido Steel Co. Ltd., Hitachi Metals Ltd., Magnequench Inc., Eriez Magnetics, Chengdu Galaxy Magnets Co. Ltd., Arnold Magnetic Technologies Corporation, Bunting Magnetics Co., Voestalpine High Performance Metals GmbH, Integrated Magnetics, Industrial Magnetics Inc., Eclipse Magnetics Ltd., Electron Energy Corporation, SG Technologies Ltd., Shin-Etsu Chemical Co. Ltd., Adams Magnetic Products Co. Inc., Tengam Engineering Inc., Steward Advanced Materials LLC, Magnetic Component Engineering LLC, Ningbo Zhaobao Magnet Co. Ltd., Dura Magnetics Inc., Sonal Magnetics, Alpha Magnetics Inc., Greenwood Magnetics Limited, Polarity Magnets, Quantum Magnetics Inc., Toshiba Materials Co. Ltd., Monroe Engineering, MSA Magnetics

What Trends Are Driving Growth in The Magnetic Materials Market?
Technological innovations are becoming increasingly prevalent as a primary trend in the magnetic materials market. Businesses within this market space are leveraging cutting-edge technologies to maintain market dominance. For example, in November 2022, a substantial breakthrough was reported in the field of permanent magnet materials, as per the research conducted by Critical Materials Institute (CMI) and Ames National Laboratory, which are spearheaded by the US-based energy innovation hub CMI. The scientists succeeded in enhancing the features of a unique type of rare-earth-free magnet material known as manganese bismuth (MnBi) and displayed its suitability for mass production. By meticulously managing the microstructure of the MnBi magnets, they were able to elevate their magnetic capabilities and overall performance. This progress is truly remarkable as it paves the way towards the creation of energy-saving, compact motors that do not depend on scarce earth elements.

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What Are the Emerging Geographies for The Magnetic Materials Market Growth?
Asia-Pacific was the largest region in the magnetic materials market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the magnetic materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Magnetic Materials Market?
2. What is the CAGR expected in the Magnetic Materials Market?
3. What Are the Key Innovations Transforming the Magnetic Materials Industry?
4. Which Region Is Leading the Magnetic Materials Market?

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