United States Magnetic Materials Market Forecast 2024-2031: Electrification, Renewable Energy, and Consumer Electronics Driving Demand | Hitachi Metals Ltd., Daido Steel Co. Ltd., Magnequench

Global Magnetic Materials market to grow at a significant CAGR during the forecast period 2024- 2031.

The magnetic materials market encompasses ferromagnetic, ferrimagnetic, and rare-earth materials used in electronics, automotive, energy, and industrial applications. They are critical for motors, sensors, transformers, and data storage devices. Market growth is driven by the expansion of electric vehicles, renewable energy systems, and consumer electronics. Innovation in high-performance, lightweight, and energy-efficient magnetic materials is fueling adoption. The demand for miniaturized and high-strength magnets is increasing across industries. Recycling and sustainable sourcing of rare-earth magnets are emerging as important trends.

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☛ Magnetic Materials Market Recent Developments 2025:

United States: Recent Industry Developments

✅ In August 2025, TDK USA expanded high-performance magnetic materials for EV motors and industrial applications.

✅ In July 2025, Hitachi Metals launched rare-earth magnets for renewable energy and aerospace sectors.

✅ In June 2025, Arnold Magnetic Technologies partnered with U.S. manufacturers to deploy advanced magnetic solutions, improving energy efficiency.

Europe: Recent Industry Developments

✅ In July 2025, VACUUMSCHMELZE (VAC) Europe introduced high-performance magnetic alloys for electric motors and generators.

✅ In June 2025, Neodym Europe expanded its rare-earth magnet portfolio for automotive and renewable energy applications.

✅ In May 2025, Magneti Marelli partnered with manufacturers to implement next-gen magnetic materials, supporting energy-efficient systems.

Japan: Recent Industry Developments

✅ In July 2025, Hitachi Metals Japan launched high-performance magnetic materials for automotive and industrial applications.

✅ In June 2025, TDK Japan expanded its magnetic materials portfolio for electronics and EV motors.

✅ In May 2025, Fujitsu Magnetic Materials partnered with Japanese companies to deploy advanced magnetic solutions, improving efficiency and performance.

☛ Magnetic Materials Market Trends:

Magnetic materials are used in motors, electronics, renewable energy, and storage devices. Market growth is driven by electrification of transport, renewable energy adoption, and electronics demand.

Technological trends include high-performance permanent magnets, rare-earth alternatives, and soft magnetic composites. Asia-Pacific dominates production, while North America and Europe invest in research and high-value applications. Environmental concerns and raw material supply remain challenges.

☛ Magnetic Materials Market Competitve Landscape:

Hitachi Metals Ltd., Daido Steel Co. Ltd., Magnequench, Shin-Etsu Chemical Co. Ltd., and TDK Corp., AMES, Mate Co., Ltd., Melrose Industries PLC, SG Technologies, Sumitomo Metal Mining Co., Ltd., Toshiba Materials Co., L.

Research Methodology

We follow a hybrid research approach, combining qualitative insights with rigorous quantitative analysis to deliver reliable and comprehensive market intelligence. Our process begins with extensive secondary research, drawing on trusted industry reports, proprietary databases, and credible market sources. This is then reinforced through targeted primary research, including structured surveys and in-depth interviews with industry leaders, subject matter experts, and key market participants.

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☛ Segment Covered in the Magnetic Materials Market:

By Type: Magnetically Soft Materials, Magnetically Hard Materials.

By Application: Automotive, Electronics, Industrial, Others.

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✔ Accurate regional forecasts using both top-down and bottom-up approaches.

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☛ Regional Analysis for Magnetic Materials Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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