Advanced Magnetic Materials Market to Reach USD 49.4 Million by 2031 | CAGR 9.4% | Asia-Pacific Leads with 45% Share | Key Players: Hitachi Metals, Arnold Magnetic Technologies, Daido Steel

Market Overview

The Global Advanced Magnetic Materials Market reached US$ 24.1 million in 2023 and is projected to grow to US$ 49.4 million by 2031, expanding at a CAGR of 9.4% during the forecast period 2024-2031. The market growth is primarily driven by rising demand for advanced magnetic materials in hybrid and electric vehicles (EVs). As the automotive industry transitions toward electrification, particularly in China, consumer preference for battery-powered vehicles is rapidly increasing. The Chinese government aims for electric vehicle production to reach 20% by 2025, a target supported by the country's record-high EV sales in 2022.

Get a Free Sample PDF Of This Report (Get Higher Priority for Corporate Email ID):-https://www.datamintelligence.com/download-sample/advanced-magnetic-material-market?Juli

Beyond automotive applications, wind energy generation is another major growth driver. The demand for magnetic materials used in wind turbines and power plants continues to expand, with China leading global wind power installations. In 2022, the country's wind power generation capacity increased by 46% compared to Europe, and according to the International Energy Agency (IEA), China's onshore wind electricity capacity was 30.9 GW in 2023, expected to nearly double to 59 GW by the end of the year.

In terms of regional distribution, North America is the second-largest market, accounting for over 20% of the global share in 2023. The region's growth is fueled by increasing use of magnetic materials in power generation and renewable energy applications. The United States ranks second globally after China in electricity generation capacity, with 4,243 billion kWh produced in 2022. About 60% of this energy originated from fossil fuels such as coal, natural gas, and petroleum, highlighting the growing need for efficient magnetic materials to support cleaner and more efficient energy solutions.

Recent Developments:

✅ January 2026 - United States: Noveon Magnetics raised US$ 215 million in funding to scale up domestic rare-earth magnet production, aiming to supply advanced magnetic materials for electric vehicles, electronics, and renewable energy applications while reducing reliance on imports.

✅ November 2025 - Japan: Hitachi Metals, Ltd. introduced a new series of high-performance neodymium-iron-boron (NdFeB) magnets designed for next-generation electric motors and wind turbines, offering improved heat resistance and magnetic strength.

✅ September 2025 - Germany: Vacuumschmelze GmbH launched an advanced samarium-cobalt (SmCo) magnet line tailored for aerospace and defense applications, ensuring durability under extreme conditions.

✅ August 2025 - China: JL MAG Rare-Earth Co., Ltd. expanded its production capacity for sintered NdFeB magnets to meet growing domestic demand from the EV and industrial automation sectors.

✅ June 2025 - South Korea: LG Magna e-Powertrain unveiled a high-efficiency magnet-based motor system developed using optimized rare-earth materials for electric mobility applications.

✅ April 2025 - France: Arnold Magnetic Technologies established a European R&D center to develop eco-friendly magnetic materials using rare-earth recycling and advanced alloy engineering.

Mergers & Acquisitions:

✅ January 2026 - United States: Alliance Magnets Inc. acquired a U.S.-based startup specializing in recycled rare-earth material processing, enhancing its sustainable magnet production capabilities.

✅ October 2025 - Germany: Siemens AG acquired a magnetic materials supplier to integrate advanced magnet technologies into its electric drive systems and industrial motors.

✅ August 2025 - China: China Northern Rare Earth Group merged with a regional mining and magnet manufacturer to strengthen its vertical integration and global export capacity.

✅ July 2025 - United Kingdom: Eclipse Magnetics partnered with a European EV components manufacturer to co-develop lightweight, high-strength permanent magnets for electric powertrains.

Buy Now & Unlock 360° Market Intelligence:-https://www.datamintelligence.com/buy-now-page?report=advanced-magnetic-material-market?Juli

Key Players:

Adams Magnetic Products Co. - 9%
Specializes in custom magnetic assemblies and precision magnetic components for industrial, automotive, and energy applications, with a strong focus on design flexibility and quality engineering.

Advanced Technology & Materials Co., Ltd. - 10%
A leading Chinese producer of rare-earth permanent magnets and soft magnetic materials, supporting the automotive, electronics, and renewable energy sectors with advanced magnet technologies.

Anhui Sinomag Technology Co., Ltd. - 8%
Manufactures ferrite and rare-earth magnets for consumer electronics, EVs, and household appliances, emphasizing innovation and cost-effective production.

Arnold Magnetic Technologies - 11%
Provides high-performance magnetic materials and assemblies, including neodymium, samarium-cobalt, and soft magnetic alloys, catering to aerospace, defense, and industrial applications.

Daido Steel Co., Ltd. - 10%
Produces advanced rare-earth magnets and magnetic alloys for hybrid and electric vehicles, contributing to energy efficiency and sustainable automotive technologies.

Dexter Magnetic Technologies - 9%
Develops precision-engineered magnetic components and assemblies for medical devices, sensors, and high-efficiency industrial motors.

Electron Energy Corporation - 8%
A global leader in samarium-cobalt (SmCo) magnet production, offering solutions for high-temperature and high-reliability environments such as aerospace and defense.

Hitachi Metals, Ltd. - 12%
Pioneers in neodymium-iron-boron (NdFeB) magnet technology, supplying advanced magnetic materials for electric motors, renewable energy systems, and electronic components.

Master Magnetics - 7%
Provides a wide range of magnetic materials and assemblies for industrial and commercial use, focusing on flexible magnetic products and innovative applications.

TDK Corporation - 6%
Offers ferrite and rare-earth magnetic materials for electronic and energy applications, leveraging its strong global presence in passive components and energy-efficient solutions.

Market Segmentation:

By Type:
Permanent Magnetic Materials dominate the market with 45%, driven by their extensive use in electric motors, wind turbines, and electronic devices. Soft Magnetic Materials account for 30%, widely used in transformers, sensors, and electric vehicle (EV) components due to their high magnetic permeability and low energy loss. Semi-hard Magnetic Materials represent 15%, primarily used in memory storage, data recording, and specialized industrial applications. Others hold 10%, including composite and hybrid magnetic materials for advanced applications in emerging technologies.

By End-User:
Automotive is the leading segment with 35%, fueled by the growing adoption of EVs and hybrid vehicles that rely heavily on permanent magnets for traction motors and control systems. Energy & Power holds 25%, driven by the expansion of renewable energy systems, especially in wind and hydroelectric power generation. Electronics represents 20%, supported by the demand for high-performance magnets in consumer electronics, sensors, and telecommunications. Industrial applications contribute 15%, focusing on robotics, automation, and manufacturing machinery. Healthcare accounts for 5%, leveraging magnetic materials in MRI machines, diagnostic devices, and medical instrumentation.

Speak to Our Analyst and Get Customization in the report as per your requirements:-https://www.datamintelligence.com/customize/advanced-magnetic-material-market?Juli

Regional Insights:

Asia-Pacific - 45%
Asia-Pacific dominates the global market, led by China, Japan, and South Korea, where large-scale production of rare-earth elements and magnets supports industries such as automotive, electronics, and renewable energy. China remains the global leader in both raw material supply and advanced magnet manufacturing, driven by government support for EV production and wind power expansion.

North America - 20%
North America holds a significant share, fueled by the rapid growth of the electric vehicle and clean energy sectors. The U.S. is investing heavily in domestic rare-earth magnet production to reduce import dependency, while technological advancements in aerospace, defense, and industrial automation continue to drive demand for high-performance magnetic materials.

Europe - 25%
Europe's market growth is supported by strong regulatory backing for green energy and sustainable manufacturing. Countries like Germany, France, and the U.K. are focusing on scaling up renewable energy projects and developing permanent magnet recycling technologies to ensure resource security and circular economy goals.

Market Dynamics:

Driver:
The automotive sector represents one of the largest consumers of advanced magnetic materials, particularly in the manufacturing of electric and hybrid vehicles. Permanent magnets, primarily composed of neodymium-iron-boron (NdFeB), are essential for electric motor performance, contributing to greater efficiency and reduced emissions. The global transition toward vehicle electrification continues to accelerate demand for these materials. According to the China Passenger Car Association, China delivered 5.67 million EVs and plug-in hybrids in 2022, nearly doubling sales from 2021. Similarly, India is targeting 30% electrification of new vehicles by 2023 as part of its efforts to lower greenhouse gas emissions. This growing shift toward electric mobility is significantly boosting the need for advanced magnetic materials in the global automotive supply chain.

Growing Demand from Energy & Power
Advanced magnetic materials play a critical role in the energy and power sector, where they are used in motors, generators, transformers, and actuators for power generation and transmission systems. These materials provide high magnetic flux, efficiency, and performance stability under extreme operating conditions. According to the Energy and Resource Institute, global power generation capacity reached 29,165 terawatt-hours in 2022, marking a 2.26% increase from 2021. The continued expansion of renewable energy capacity especially in wind and hydroelectric power is expected to further accelerate the adoption of advanced magnetic materials in the coming years.

High Costs and Limited Availability of Rare Materials
Despite their growing importance, the high production costs and limited availability of rare-earth materials present a major challenge to market growth. Manufacturing advanced magnetic materials often involves complex processes, specialized equipment, and strict quality standards, increasing overall costs. Furthermore, patent restrictions, trade policies, and export controls particularly surrounding rare-earth elements constrain technology transfer and supply chain efficiency. This imbalance between demand and availability may limit large-scale production and adoption, especially in price-sensitive markets, thereby posing a restraint on industry expansion.

📌 Request for 2 Days FREE Trial Access: https://www.datamintelligence.com/reports-subscription

☛ Power your decisions with real-time competitor tracking, strategic forecasts, and global investment insights all in one place.

✅ Competitive Landscape

✅ Sustainability Impact Analysis

✅ KOL / Stakeholder Insights

✅ Unmet Needs & Positioning, Pricing & Market Access Snapshots

✅ Market Volatility & Emerging Risks Analysis

✅ Quarterly Industry Report Updated

✅ Live Market & Pricing Trends

✅ Import-Export Data Monitoring

☛ Have a look at our Subscription Dashboard: https://www.youtube.com/watch?v=x5oEiqEqTWg?Juli

Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.