Rare Earth Magnet Research: the global market size is projected to reach USD 21.36 billion by 2031

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2025 latest report "Respiratory Diagnostic Reagents- Global Market Share and Ranking, Overall Sales and Demand Forecast 2026-2032". Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2026-2032), this report provides a comprehensive analysis of the global Respiratory Diagnostic Reagents market, including market size, share, demand, industry development status, and forecasts for the next few years.

The global market for Respiratory Diagnostic Reagents was estimated to be worth US$ 5357 million in 2024 and is forecast to a readjusted size of US$ 9190 million by 2031 with a CAGR of 6.6% during the forecast period 2025-2031.

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Rare Earth Magnet Market Summary

According to the new market research report "Global Rare Earth Magnet Market Report 2025-2031", published by QYResearch, the global Rare Earth Magnet market size is projected to reach USD 21.36 billion by 2031, at a CAGR of 9.6% during the forecast period.

Market Drivers:

The push towards carbon neutrality and emissions reduction has accelerated the development of industries such as new energy vehicles (NEVs), wind power, and inverter air conditioners. In particular, the NEV sector has experienced significant expansion in recent years, leading to a growing demand for high-performance NdFeB permanent magnet materials. This trend has strongly boosted the neodymium magnet market over the past three years.

As a key functional material in the mechanical and electronics industries, high-performance rare earth magnets are seeing increasing demand across various sectors, including consumer electronics (3C), wind power, new energy vehicles, and national defense. Their unique properties make them indispensable in modern technology, driving sustained growth in the neodymium magnet market.

The global transition towards clean energy solutions, such as electric motors for renewable energy applications and energy-efficient appliances, is creating new opportunities for NdFeB magnets. These magnets are critical for improving energy efficiency and performance, particularly in wind turbines and electric vehicle motors, where lightweight, high-efficiency magnetic materials are essential for optimizing power generation and energy use.

Restraint:

The key raw materials for rare earth magnets, such as praseodymium, neodymium, dysprosium, and terbium, have experienced significant price increases in recent years. Any sudden changes in the supply-demand dynamics of the industry can lead to sharp fluctuations in the prices of these rare earth metals. This price volatility poses a risk to the neodymium magnet market, potentially impacting profitability and production costs.

While demand for high-performance NdFeB magnets continues to grow, the complex technology required to manufacture them remains a significant challenge. The sophisticated processes and technical expertise involved create barriers to entry and limit the number of manufacturers capable of producing high-quality magnets, constraining market expansion.

The global supply of rare earth elements is concentrated in a few key regions, leading to a heavy reliance on specific countries for the raw materials required to produce neodymium magnets. Any disruption in the political, economic, or trade conditions of these regions can lead to supply chain interruptions, threatening production stability and market growth.

Opportunity:

In recent past it has been observed that the Hard disk drive market is negatively affected, driven by falling sales in the PC market. But a trend that helped to boost the market growth is the innovation of high-storage portable external hard disks. Hard disk drive market is directly affected by the flash-based SSDs. In now days the adaptation of flash based SSDs in Laptops and personal computers continue at pace and continue to eat into traditional Hard disk drive market and prices are likely to continue to drop in the coming years.

With the continuous development of new energy vehicles and robotics industry, the high demand for high-performance NdFeB is expected to become the direction of magnetic materials in the future.

Policy signals and early commercialization are creating a new pull for high-coercivity NdFeB (and select SmCo) magnets used in compact, torque-dense actuators and joint drives. China's MIIT issued national "Guiding Opinions" to build an innovation system for humanoids by 2025, catalyzing pilot lines and scenario trials, while global OEMs (e.g., Tesla's Optimus program) are targeting initial production runs and supplier localization. These platforms bundle dozens of precision motors and force-feedback mechanisms, so magnet requirements emphasize high Hcj grades, tight flux tolerances, corrosion-resistant coatings, and stable supply chains that satisfy export-control and traceability needs.

Urban air mobility programs are advancing from prototypes to early fleets, with reputable forecasts now projecting thousands of eVTOL deliveries by 2030 and continued scaling toward 2040, which implies growing demand for high-temperature, high-power-density PM machines. Direct-drive or geared PMSMs dominate current eVTOL propulsion concepts, and aerospace studies highlight the need for elevated coercivity, robust coatings, and careful thermal design to sustain magnet performance in high-speed, high-load environments. As certification pathways clarify and offshore/urban routes open, magnet suppliers positioned for aerospace-grade quality systems (and reliable origin documentation) will benefit most.

The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.

The Respiratory Diagnostic Reagents market is segmented as below:
By Company
Abbott
Roche
Danaher
Quidel
Siemens Healthineers
Thermo Fisher Scientific
Denka Co.,Ltd.
BioMerieux
Becton Dickinson
Bio-Rad Laboratories
Sansure Biotech
ShuoShi Biotech
Antu Biotech
DaAn Gene
Sinbe
Guangzhou KBP Biotech
Berge Medical
Hantang Biotech
Getein Biotech
Wuhan Easy Diagnosis
Guangzhou Wondfo Biotech
Zhijiang Bio
Zhuocheng Huisheng
Innovita

Segment by Type
Nucleic Acid Testing
Antigen Testing
Antibody Testing
Other

Segment by Application
Hospital
Third-party Laboratory
Other

Each chapter of the report provides detailed information for readers to further understand the Respiratory Diagnostic Reagents market:

Chapter 1: Introduces the report scope of the Respiratory Diagnostic Reagents report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2021-2032)
Chapter 2: Detailed analysis of Respiratory Diagnostic Reagents manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2021-2026)
Chapter 3: Provides the analysis of various Respiratory Diagnostic Reagents market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2021-2032)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2021-2032)
Chapter 5: Sales, revenue of Respiratory Diagnostic Reagents in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2021-2032)
Chapter 6: Sales, revenue of Respiratory Diagnostic Reagents in country level. It provides sigmate data by Type, and by Application for each country/region.(2021-2032)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2021-2026)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Benefits of purchasing QYResearch report:

Competitive Analysis: QYResearch provides in-depth Respiratory Diagnostic Reagents competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.

Industry Analysis: QYResearch provides Respiratory Diagnostic Reagents comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.

and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.

Market Size: QYResearch provides Respiratory Diagnostic Reagents market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.

Other relevant reports of QYResearch:
Global Respiratory Diagnostic Reagents Market Research Report 2025
Global Respiratory Diagnostic Reagents Sales Market Report, Competitive Analysis and Regional Opportunities 2025-2031
Global Respiratory Diagnostic Reagents Market Outlook, In‐Depth Analysis & Forecast to 2031

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