Magnetic Materials Market Insights 2025-2034: Growth Forecast and Strategic Priorities

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Magnetic Materials Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size for magnetic materials has been witnessing consistent growth. The market value is projected to rise from $35.17 billion in 2024 to $36.52 billion in 2025, showcasing a compound annual growth rate (CAGR) of 3.8%. Factors such as the surge in electronics, automotive usage, enhancements in telecommunications infrastructure, the expansion of renewable energy, and progress in medical imaging have contributed to the growth during the historical period.

Magnetic Materials Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market for magnetic materials is projected to experience substantial growth, reaching a value of $47.96 billion in 2029 with a compound annual growth rate (CAGR) of 7.0%. The expected growth within the forecast period is largely due to aspects such as the surge in electric vehicles, trends toward miniaturization, energy storage solutions, the rise of magnetocaloric cooling, and advancements in automation and robotics. Other key trends anticipated for the forecast period encompass the deployment of 5G technology, the development of magnetic levitation technologies, improvements in magnetic recording technology, the emergence of magnetic 3D printing, integration of IoT, and the application of magnetic materials in the aerospace industry.

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What Are the Drivers Transforming the Magnetic Materials Market?
The increasing requirements of the automotive sector are anticipated to drive the expansion of the magnetic material market in the future. The automotive sector encompasses the processes involved in designing, developing, producing, marketing, and selling vehicles such as cars, trucks, motorcycles, among others. The surge in demand for this sector heavily impacts the usage of magnetic materials. These materials are crucial in various automobile components and systems, 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, noted a significant increase in the global automotive industry with total production hitting 93546599 units, a substantial upswing from the 85016728 units recorded in 2022. Hence, the increasing requirements from the automotive sector are propelling the expansion of the magnetic material market.

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Which Fast-Growing Trends Are Poised to Disrupt the Magnetic Materials Market?
A notable trend growing within the magnetic materials market is technological innovation. To maintain relevance in the ever-competitive market, companies are harnessing emerging technologies. For instance, as reported by the Critical Materials Institute (CMI), in collaboration with the Ames National Laboratory, a remarkable breakthrough was achieved in the realm of permanent magnet materials in November 2022. They successfully improved the traits of a type of magnet known as manganese bismuth (MnBi) that does not require rare-earth elements, showing its feasibility for production on a larger scale. The researchers managed to optimize the magnet's microstructure, subsequently improving its magnetism and overall performance. This development is crucial as it provides a roadmap for producing compact and energy-saving motors without the need for 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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