Bonded Magnet Market is Poised to Grow at a CAGR of 7.8% to Reach US$ 13,828.1 Million by 2035

The global bonded magnet market is expected to grow significantly, rising from USD 6,524.9 million in 2025 to USD 13,828.1 million by 2035, at a CAGR of 7.8%. This growth is fueled by the rising adoption of bonded magnets in electric vehicles, industrial automation, and consumer electronics.

Valued for their lightweight structure, design flexibility, and compatibility with high-precision components, bonded magnets are increasingly replacing traditional magnetic materials in compact motor and sensor applications. Their versatility and ease of integration into complex geometries make them ideal for modern engineering needs. In addition, advancements in injection molding and additive manufacturing technologies are accelerating market momentum by enabling scalable, cost-effective, and customized production, further enhancing their appeal across various high-tech industries.

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Drivers of Market Growth

1. EV & Hybrid Vehicle Expansion: Bonded magnets' lightweight design and precise molding make them essential in EV traction motors, steering systems, and sunroof mechanisms.
2. Automation & Electronics Miniaturization: The shift toward compact, efficient sensors and robotics stimulates demand. Bonded magnets are ideal for these precision-laden components.
3. Advanced Manufacturing: Injection molding and additive manufacturing lower production costs and increase customization, enabling scalable, complex designs.
4. Renewable Energy Adoption: Use in wind turbine generators and solar tracking systems is on the rise, supported by global clean energy initiatives.
5. Material Innovations: Development of high-strength rare-earth-free magnets (e.g., ferrite composites) helps reduce reliance on geopolitically sensitive rare-earth materials.

Regional Trends of the Bonded Magnet Market

The bonded magnet market shows distinct regional dynamics, shaped by differences in industrial infrastructure, rare-earth resource availability, and advancements in end-use technologies.

Asia Pacific holds the largest share of the global bonded magnet market, with China at the forefront due to its dominance in rare-earth element processing, cost-effective manufacturing, and vast production of electric vehicles (EVs), consumer electronics, and industrial machinery. China's strategic control over rare-earth supply chains gives it a competitive edge in both price and scale.

Meanwhile, Japan and South Korea contribute significantly through high-value demand for bonded magnets used in automotive components, robotics, medical equipment, and miniaturized precision devices. These countries emphasize performance-driven applications, often requiring advanced manufacturing and tight tolerances achievable through bonded magnet technology.

Competitive Analysis

The bonded magnet market features a mix of global leaders and regional specialists, all driving innovation through R&D, material advances, and tailored applications. Major players like TDK Corporation, Hitachi Metals, and Magnequench lead with strong rare-earth expertise and advanced magnetic technologies.

Chinese firms such as Ningbo Yunsheng, SDM Magnetics, and Advanced Technology Materials benefit from proximity to rare-earth resources, offering cost-efficient manufacturing. U.S.-based companies like Arnold Magnetic Technologies and Dura Magnetics focus on high-performance, customized solutions for automotive, aerospace, and industrial use.

Other notable contributors include Mate Co., MMC Magnetics, and RHEINMAGNET, which serve niche and precision markets across Asia and Europe. New entrants like Galaxy Magnets, Shanghai San Huan, and MP Materials are gaining traction by investing in rare-earth recycling and domestic supply chains.

Recent Developments

Nichia (2025) introduced bonded SmFeN magnet advancements at MDSM and Coiltech North America, focusing on high flux density and improved bonding techniques.

MP Materials (2025) began NdPr metal production and magnet trials in Texas, aiming for 1,000 tonnes annual output to support a fully domestic rare-earth magnet supply chain.

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Segmentation of Bonded Magnet Market

By Product Type :
Rare Earth Magnets
NdFeB
SmCo
Bonded Ferrite Magnets
Others

By Process Type :
Injection Molded
Compression
Calendaring
Extrusion

By Application :
Sensors
Motors
Hard Disk Drives
Level Gauges
Instrument Panels
Copier Rotors
Fuel Filters
Magnetic Couplings

By End Use :
Automotive
HVAC Equipment
Medical Devices
Cameras
Consumer Electronic Appliances
Computers and Magnetic Storage Devices
Electrical Equipment
Measurement Instruments
Printers and Copiers

By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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