Magnetic Material Market Accelerates With Surging Demand From The Automotive Industry: Critical Driver Shaping the Magnetic Materials Market in 2025

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Magnetic Materials Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for magnetic materials has seen significant expansion in past few years. The market, which was $35.17 billion in 2024, is expected to rise to $37.11 billion in 2025, registering a compound annual growth rate (CAGR) of 5.5%. Factors such as the surge in electronics, automotive usage, telecommunication infrastructure, growth in renewable energy, and advances in medical imaging have contributed to the increase seen during the historic period.

Magnetic Materials Market Size Forecast: What's the Projected Valuation by 2029?
In the forthcoming years, the magnetic materials market is poised for considerable growth, with an expected increase to $49.54 billion in 2029, at a compound annual growth rate (CAGR) of 7.5%. This surge in the projection period can be credited to factors such as the rise in electric vehicles, the trend of miniaturization, solutions for energy storage, the advent of magnetocaloric cooling, and advancements in automation and robotics. Notable trends anticipated in the same timeframe include the implementation of 5g technology, the adoption of magnetic levitation technologies, advancements in magnetic recording technologies, the development of magnetic 3d printing, IoT integration, and applications of magnetic materials in the aerospace sector.

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What Are the Drivers Transforming the Magnetic Materials Market?
The escalating need for the automotive sector is anticipated to boost the magnetic material market's expansion in the foreseeable future. The automotive industry, a sector that focuses on the design, production, marketing, and sales of motor vehicles like cars, trucks, motorcycles, among others, is seeing a rise in demand. This escalation is positively impacting the usage of magnetic materials. These magnetic materials remain integral to different components and systems in vehicles, aiding in enhancing their performance, efficiency, and safety. For example, in 2023, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a French international association of car manufacturers, reported that the global automotive industry saw remarkable growth in 2023. The total vehicle production hit 93546599 units, a substantial leap from the 85016728 units made in 2022. As a result, the increased demand in the automotive sector is fuelling the magnetic material market's expansion.

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What Long-Term Trends Will Define the Future of the Magnetic Materials Market?
The advancement in technology is a primary trend that is gaining momentum in the magnetic materials market. Companies active in this market are leveraging new technologies to maintain their market standing. For example, the Critical Materials Institute (CMI), a US-based energy innovation center run by the Ames National Laboratory, announced in November 2022 that there has been a notable progression in the area of permanent magnet materials. This was achieved by the researchers of the CMI and Ames National Laboratory, who improved the properties of a rare-earth-free magnet material known as manganese bismuth (MnBi), exhibiting its potential for large scale production. An effective control over the microstructure of the MnBi magnets facilitated the enhancement of their magnetic properties and performance. This progress is substantial as it provides a route towards the fabrication of compact, energy-efficient motors that don't depend on rare earth elements.

Which Segments in the Magnetic Materials Market Offer the Most Profit Potential?
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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Which Firms Dominate the Magnetic Materials Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in the Magnetic Materials Market?
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.

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