The magnetic materials market is anticipated to witness significant growth. Factors such as shifting trends in electronics, automotive electrification, renewable energy, and industrial automation are driving this growth. Such materials are essential for power generation, data storage, electromagnetic devices, and energy-efficient transportation systems.
The growing use of permanent magnets in electric motors, soft magnetic materials in transformers, and rare-earth magnets in wind energy applications will boost the market in the projected period.
The global market is projected to be worth nearly USD 22.8 Billion by 2025, driven by automotive electrification, smart technology development, and industrial automation. The prophesied growth of such magnetic components ranges from USD 35.2 Billion market (2023) to USD 45.3 Billion by 2035, indicating a staggering CAGR of 7.1%. Besides, progress in nanostructured magnetic materials and magnetic composites, as well as the recovery of rare-earth elements, will reshape the industry picture.
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North America is still a high-value region for magnetic materials, however, technology evolution and industrial growth are driving demand. Deutsche Electric, manufactures permanent magnets used in electric vehicle (EV) applications, high-efficiency motors, consumer electronics and next-generation power grids.
Significant demand for high-performance rare-earth magnets in wind turbines driven by the offshore wind energy sector, especially along the USA East Coast and in the Great Lakes region.
North America is slowly breaking its reliance on Chinese imports, with government initiatives like the CHIPS and Science Act encouraging domestic rare-earth processing for minerals like neodymium. High-performance manufacturing of magnets, advanced robotics for their production, and smart grid infrastructure investment put in place a strong ecosystem for magnetic materials innovation.
In addition to this, the use of alternative magnet technologies, like ferrite and composite-based magnets, is promoting a diverse and agile market through continued R&D efforts.
The European market is significant and led by Germany, France, the United Kingdom, and Italy, where automotive and renewable energy sectors prop up the market. As a world EV production base, Germany is still advocating for high-performance rare-earth magnets in electric drivetrains, battery cooling systems, and advanced braking technologies.
The European Union’s tough environmental regulations and Green Deal programs are spurring big investments in more sustainable rare-earth mining, recycling and alternative magnet manufacturing. Focus on wind power generation in the region, particularly offshore in the North Sea and Baltic regions is fuelling the demand for high-strength NdFeB magnets in offshore wind turbines.
Moreover, the proliferation of smart home automation, sophisticated robotics, and IoT applications are augmenting the demand spectrum for high-precision soft magnetic materials.
With the rise of autonomous vehicles and smart infrastructure development, the demand for advanced storage systems and magnetic sensors is also shooting up after which is further paving way for the region to solidify its standings in the next generation technology applications market.
China, Japan, South Korea, and India are making the Asia-Pacific market for magnetic materials the largest worldwide. China, the largest producer and exporter of rare-earth elements, controls a large portion of the global supply chain, supplying materials for EV batteries as well as electronics and industrial automation.
China’s push into 5G technology, industrial robotics and electric mobility is fuelling demand for high-grade magnetic materials.
Japan and South Korea, which are known for their advanced semiconductor and electronics industries, are placing a big bet on high-performance miniaturized magnetic components for medical devices, wireless communication, and AI-charged automation.
At the same time, India’s aggressive drive toward green energy and smart city projects is creating opportunities for localized magnet production for wind turbines, electric vehicles and hybrid power grids.
In addition, the rise in the demand for effective energy storage systems, along with the adoption of AI and IoT in consumer electronics, is influencing the long-run growth of market in Asia-Pacific.
Few industries are under more pressure than that of magnetic materials, which must navigate competing forces from supply chain turbulence to rare-earth element scarcity. China controls the world’s supply of rare earth magnets, spurring worries of rare earth export restrictions and geopolitical trade risks that could have a major impact on production.
As environmental issues make rare-earth mining and processing tightly regulated, manufacturers are looking for greener alternatives and recycled magnet solutions. Moreover, these price variations are a major market restraint, as the use of advanced magnetic materials like NdFeB and SmCo magnets comes with high production costs.
In the latter category, the industry also faces technical challenges to developing cost-efficient alternative magnetic materials like ferrite, hybrid composite and bonded magnets that can rival rare-earth-based materials.
Automakers are increasingly relying on high-efficiency permanent magnets for the electric drivetrains, energy regeneration systems, and battery cooling solutions that have made EVs (electric vehicles) and HEVs (hybrid vehicles) a huge growth opportunity. As global EV adoption rates are projected to soar, the demand for lightweight, high-strength magnetic materials are predicted to increase.
Another major driver is the renewable energy sector, where offshore and onshore wind energy projects are in quest of high-performance rare-earth magnets to expedite the wind turbines. As countries continue to add more wind power capability, there will be further investments in corrosion-resistant and energy-efficient magnet technologies.
New Technologies of Flexible and Printable Magnets The latest opportunities to be explored in the manufacture of miniaturized magnetic components suitable for advanced medical devices, wearables, and wireless power transmission.
And new recycling processes for magnets and secondary sourcing of rare-earth elements emerging as permanent solutions to reduce risk and environmental impacts in the supply chain.
The magnetic materials market is on the rise between 2020 and 2024 and these goods are projected to be used in a wide range of applications in the automotive, electronics, renewable energy, and industrial sectors and so on.
Need for high-performance magnetic materials such as neodymium-iron-boron (NdFeB), samarium-cobalt (SmCo), ferrite, and alnico magnets, mainly due to the increasing demand for electric vehicles (EVs), advanced consumer electronics, and wind energy solutions Market growth was boosted by the installed base of industries and mass deployment of 5G technology, along with automation and smart manufacturing from the AI space.
In addition, the demand for high-performance computing systems, smart-grid solutions, and energy storage systems that leverage advanced magnetic materials to enhance energy efficiency and reduce power losses further facilitated market growth.
Demand for these products in electric powertrains, motors for hybrid vehicles, and sensor systems in the automotive industry was a prominent driving force for the magnetic material market. The increasing need for high-strength, lightweight, and energy-efficient magnetic components, owing to the ongoing transition from ICE (Internal Combustion Engine) vehicles to electric and hybrid vehicles.
The increasing requirement for miniaturized, high-performance electronic devices had also further implemented magnetic materials within microprocessors, magnetic sensors, and memory storage devices. Growing global electrification trends coupled with advancements in battery technology pushed magnetic materials to the forefront to help enhance power density, torque efficiency and overall system reliability.
There was strong growth in the renewable energy sector with higher demand for permanent magnets in wind turbines, solar power inverters, and battery storage systems. With global governments focused on clean energy transitions and decarbonisation strategies, magnetic materials played a vital role in sustainable power generation and energy-efficient grid technologies.
Nevertheless, supply chain disruptions, volatile prices for rare-earth metals, and geopolitical dependence on raw material suppliers for both domestic and foreign supplies presented significant risks to the resulting stability in the market.
Companies responded by integrating vertically and engaging in increasingly sophisticated sourcing of raw materials, plus implementing recycling programs for magnets to sustain the market and encourage sustainable practices.
Advancements in nanostructured magnetic materials, soft magnet composites, and high-temperature resistant alloys made ground-breaking innovation in high-tech applications possible. Demand for high-performance magnetic materials for green technologies, electrification, and AI-enhanced automation saw increased demand, paving the way for future market growth. Self-healing and adaptive magnetic materials aided the fabrication of durable, high-performance materials for industrial applications as well.
The electric vehicle (EV) revolution will remain a major driver for the adoption of magnetic material, with ongoing research into rare-earth-free permanent magnets, high-efficiency motor designs, and advanced magnetic alloys for EV drivetrains.
Companies that choose to invest in high-efficiency magnet recycling, 3D-printed, or hybrid magnet solutions in their products to minimize their reliance on scarce resources can take it a step further. New applications for magnetic materials for use in power electronics, electromagnetic shielding and energy harvesting systems will also be driven by solidstate batteries, wireless power transfer systems and autonomous vehicle technologies.
In addition, autonomous nonmagnetic structures and smart material synthesis based on AI will require the synthesis of advanced magnetic materials for electricity vehicle-driven energy storage systems and to propel future energies.
Some of the applications that will lead to more growth in the renewable energy industry are magnet-based wind turbines, hydroelectric power conversion systems and energy storage systems. Through the policies of a carbon-neutral economy, strict emission regulations that many governments and municipalities take to enforce, the manufacturers would look for complementary, low-carbon, high-performance magnet solutions that enhance the overall efficiency and life cycles.
Room temperature superconducting magnets, magnetic refrigeration systems and magnetic nanostructures will spur advancements in smart grids, energy-efficient cooling solutions, and next-gen transmission networks for power generation. Advances in fusion energy technology and hyper-efficient electrodynamic applications will drive the development of high-energy-density magnetic materials, and vice versa.
In electronics and telecommunications, quantum computing, spintronic, and neuromorphic chips will be on the rise, resulting in novel patterns of magnetic thin films, ultra-high-density magnetic storage, and self-assembling, magnetic nanoparticles.
Moreover, the need for AI-driven computing as well as cloud data centers and ultra-fast communication will require high-precision thermal stable magnetic materials being deployed for better signal processing, effective electromagnetic interference shielding, and data safety.
This discovery has implications for next-generation electronic devices that are based on quantum magnetism and programmable magnetic properties and require ultra-responsive and adaptive magnetic materials for enhanced computing performance and better processing speeds.
As medical technology continues to evolve, these types of magnetic materials will find applications in biomedical imaging, targeted drug delivery, and implantable medical devices. Transmission electron microscopy, fluorescence microscopy, and electron paramagnetic resonance can gain information from magnetism and help medical diagnostics to fight against the progression of disease.
By the same token, the military & aerospace industries will promote demand for radiation hard, ultra-lightweight, high-durability magnetic-alloys used in applications such as SATCOM satellite propulsion systems, defense communication networks, electromagnetic railguns.
The growing needs of hypersonic vehicle propulsion and space-based energy generation will only increase the demand for extreme-environment magnetic materials.
As global industries are shifting towards next-generation energy, high-speed computing, and intelligent automation, magnetic materials will remain as an essential element for future innovations. By investing in cutting-edge magnet design, AI-powered material discovery, and resource-efficient, sustainable production methods, these companies will hold the keys to strategic advantage in the rapidly-evolving magnetic materials market.
The rise of programmable magnetics, self-reconfigurable magnetic fields, and AI-powered simulations of magnetic circuits will be a game-changer in creating smarter and highly efficient solutions across various industrial domains.
Overall, the magnetic materials landscape is set to evolve with sustainability, increasing technology adoption and AI-led material innovations. Companies must lead the wave of industrial evolution by embracing next-gen magnet manufacturing, circular economy practices, and smart production technology as industries shift toward renewable energy, autonomous mobility, and high-performance computing.
Market Shifts: A Comparative Analysis (2020 to 2024 vs. 2025 to 2035)
| Market Shift | 2020 to 2024 |
|---|---|
| Regulatory Landscape | Governments introduced rare-earth material export regulations and sustainability mandates. |
| Technological Advancements | Companies developed high-performance neodymium and ferrite magnets for industrial use. |
| Industry Applications | Magnetic materials were widely used in EV motors, electronics, and wind turbines. |
| Environmental Sustainability | Companies explored low-carbon magnet production and rare-earth recycling techniques. |
| Market Growth Drivers | Demand was fueled by EV expansion, renewable energy adoption, and industrial automation. |
| Production & Supply Chain Dynamics | Supply chains faced raw material shortages and reliance on rare-earth metal imports. |
| End-User Trends | Consumers preferred high-energy-density, long-lasting magnetic materials. |
| Market Shift | 2025 to 2035 |
|---|---|
| Regulatory Landscape | Policies will enforce localized rare-earth processing, magnet recycling, and carbon-neutral magnet production. |
| Technological Advancements | Future innovations will focus on quantum magnetics, superconducting magnets, and AI-driven magnet optimization. |
| Industry Applications | The market will expand into quantum computing, medical nanotechnology, and next-gen military defense systems. |
| Environmental Sustainability | Industry-wide adoption of bio-based magnet alternatives, closed-loop recycling, and magnet upcycling technologies. |
| Market Growth Drivers | Growth will be driven by next-gen AI computing, superconducting energy storage, and smart grid innovations. |
| Production & Supply Chain Dynamics | Companies will invest in localized rare-earth extraction, AI-powered logistics, and blockchain-traceable material sourcing. |
| End-User Trends | Future demand will emphasize sustainable, AI-optimized, and multi-functional magnetic materials for advanced applications. |
Functional films market in the USA is growing strongly due to higher demand from electronics, automotive, packaging and end-use sectors like solar and biofuel. Such technological advances in display technologies, semiconductor manufacturing, and energy-efficient solutions pose a growing demand for functional films with elevated performance. Demand for optical films, anti-glare films, and conductive films is particularly driven by the increasingly flexible display market for smartphones, tablets, and foldable devices.
Another significant old sector is the automotive industry which is leaning towards lightweight materials, smart glass technology, self-cleaning coatings, etc. Functional films are key components of solar control, anti-fog, and scratch-resistant coatings for automotive windows and displays. In addition, the increasing focus on sustainability is driving the use of biodegradable and recyclable functional films in the packaging and renewable energy sectors, particularly in solar panels and energy storage0 applications.
Government-led efforts have sought to encourage domestic semiconductor production by passing the CHIPS Act to domestically increase the number of semiconductor fabrication and flexible electronics, which are further fuelling the demand for functional films. To increase product shelf life, the Food and Beverage industry is progressively depending upon barrier films and aesthetic antimicrobials, thereby propelling the growth in the market.
| Country | CAGR (2025 to 2035) |
|---|---|
| USA | 4.8% |
UK functional films market is expanding as a result of technological advancements in flexible electronics, rising demand for sustainable packaging, and innovations in automotive coatings. Driving demand for UV-blocking, heat-resistant and self-cleaning functional films is the emergence of smart buildings and energy efficient materials.
Demand for scratch-resistant, anti-glare and solar control films is growing with the UK’s strong automotive manufacturing sector. Additionally, companies are targeting next-gen electronic display materials, enabling the growing use of transparent conductive films in wearables and AR/VR devices.
It is also no surprise that the UK’s focus on sustainability and circular economy is driving manufacturers to develop recyclable and bio-based functional films for a diverse and growing range of packaging and consumer goods. Tight plastic waste regulations are driving businesses to innovate responsible barrier films, which to replace traditional plastics.
| Country | CAGR (2025 to 2035) |
|---|---|
| UK | 4.5% |
Factors such as robust R&D investments in general and advanced materials across the European region, growing need for renewable energy solutions, and compliance along with regulatory frameworks driving sustainability within the industry, the European functional films market is also experiencing substantial growth. Focus on Germany, France, and Italy as leading markets; focus on display technologies, automotive coatings, and smart packaging solutions.
The EU’s Green Deal initiative is driving momentum towards using more energy-efficient films in solar panels and smart glass. Also, European automotive companies are integrating self-healing, anti-fog, as well as heat-insulating films to enhance car durability and passenger comfort. The growing semiconductor industry in the region is also boosting the demand for functional films used in chip manufacturing and flexible circuits.
| Country | CAGR (2025 to 2035) |
|---|---|
| European Union (EU) | 4.9% |
The Japanese functional films market is at the forefront of technological innovation, driven by the country’s leadership in consumer electronics, automotive advancements, and high-end materials science. Japan’s expertise in high-resolution display technology is pushing the demand for optical films, anti-reflective coatings, and OLED protective layers.
With rapid adoption of autonomous and electric vehicles (EVs), Japan is seeing increased usage of anti-glare, anti-fingerprint, and UV-resistant films in automotive displays and infotainment systems. The high-tech manufacturing sector is also investing in functional films for semiconductor fabrication, flexible printed electronics, and advanced robotics.
Additionally, Japan is leading biodegradable film development, driven by government policies promoting sustainability. With companies like Toray and Mitsubishi Chemical investing in high-performance nanofilms, the market is poised for major technological advancements.
| Country | CAGR (2025 to 2035) |
|---|---|
| Japan | 5.2% |
Earlier, South Korean investment in areas such as consumer electronics, semiconductor technology, and flexible OLED displays have continued to drive growth in the functional films market in the country. Samsung and LG are pushing a high-clarity optical film, polarizer films and anti-smudge coatings that make South Korea a leader around the world in display innovation.
As 5G capabilities and IoT-enabled devices expand, demand is increasing for thin, conductive films for use in flexible circuits and printed electronics. In addition, the booming automotive and EV industry of South Korea will accelerate the installation of heat resistant and anti-glare film in next-generation vehicles.
The country is also leading traditional packaging, as brands pour in investment in bio-based and compostable barrier films.
| Country | CAGR (2025 to 2035) |
|---|---|
| South Korea | 5.1% |
The Nd-Fe-B (Neodymium-Iron-Boron) and soft ferrite magnetic materials also have a good market share in the magnetic materials market, with industry requirements for high-performance, energy efficient, and miniaturized magnetic components for electronics, automotive, industrial automation, and medical applications.
VOSK: These materials are essential components for electric motors, generators, transformers, and electronic devices, making them indispensable in contemporary technology and renewables.
Nd-Fe-B magnets with their colossal magnetic strength and high energy density are still widely used in requesting applications where high magnetic performance needs to be packed into small packages. Such rare-earth based permanent magnets find widespread application in electric vehicles (EV), wind turbines, industrial robotics, and high-performance electronic systems.
As energy transition prevails, Nd-Fe-B magnets are in demand for wind power generation applications, which enhance generator efficiency and performance factors, thus, driving the growth of the Nd-Fe-B magnets market worldwide. High performance, low weight magnets are required in wind turbines to efficiently convert kinetic energy into electricity, making Nd-Fe-B an ideal candidate for future renewable energy infrastructure.
For the electric vehicle (EV) industry, Nd-Fe-B magnets are also essential constituents in traction motors, braking systems, and powertrain instruments. As governments turn to tougher emissions limits and auto makers ramp up electric vehicle use, the demand for high performance magnetic materials is increasing. Major EV manufacturers, including Tesla, Toyota and General Motors, use Nd-Fe-B magnets in electric drivetrains to increase energy efficiency and torque density.
The miniaturization trends in industrial automation and consumer electronics products have also significantly enhanced the use of Nd-Fe-B magnets in diverse end-use applications, including data storage devices, precision sensors, and high-speed communication equipment. These magnets act as small, light and energy-efficient magnetic components in smartphones, laptops and smart home systems.
While they are used widely, Nd-Fe-B magnet production is still limited by supply chain uncertainty and geopolitical concerns about how rare-earth materials are sourced. Manufacturers are now investing in recycling of rare-earth elements, developing additional magnet compositions, and establishing local supply lines to minimize risks of material shortfalls and price swings.
Soft ferrite materials have become increasingly popular in power electronics, inductors, and electromagnetic interference (EMI) suppression applications due to their low eddy current losses, high resistivity, and low-cost manufacturing. These magnetic materials, based on inorganic ceramics, are used in electrical components such as transformers, power converters, and electronic circuits to transmit energy efficiently and maintain stability at high frequencies.
Growing demand for power-efficient electrical infrastructure and high-frequency devices is accelerating the soft ferrites adoption in inductors and chokes, especially in power supplies. These materials are critical for modern electrical grids, industrial automation systems, and wireless charging technologies to prevent energy losses and improve system reliability.
Soft ferrites also play an important part in RF (radio frequency) applications, antennas, and electromagnetic shielding. High permeability soft ferrite cores are used by telecommunications and IoT-based devices. By large, the development of 5G networks and high-speed data transmission systems would drive the requirement for soft ferrite in communication equipment.
Soft ferrites have become widely used in the automotive domain by enabling electric power steering systems, wireless battery charging platforms, and high-efficiency inverters. The demand for low-loss, high-frequency magnetic materials will continue to grow as automakers shift toward fully electric and hybrid vehicle platforms.
While the attractive attributes of soft ferrites can be exploited, temperature dependence and material brittleness continue to be limiting factors in soft ferrite line applications. Continuous research on Nano-structured ferrite materials and polymer-ferrite composites is tackling these restraints and assuring improved mechanical strength and high magnetic performance in extreme condition.
Drives and motors are leading the application segments for magnetic materials due to the focus on energy-efficient motor solutions in industries and advanced magnetic applications in healthcare technologies such as medical devices.
Magnetic materials aid in the energy conversion efficiency and enable exceptional torque and speed control of electric motors, servo drives, and industrial automation systems, making them an important component in those devices. Nd-Fe-B magnets are especially important in brushless direct current motors (BLDC), synchronous motors, and high-performance actuators.
As industries shift to high-efficiency electric motor systems to decrease energy use and operating expenses due to the electrification of industrial and consumer systems. Advanced magnetic materials help to ensure motor durability, reduced heat losses and improved performance stability in sectors such as automotive, aerospace and industrial manufacturing.
The increasing integration of robotic automation into manufacturing has further bolstered the need for precision magnetic components utilized in servo motors and robotic actuators. For motion control applications, Nd-Fe-B and soft ferrite materials are key in creating compact, lightweight, and high speed motors for modern industrial robotics.
Renewable energy projects also use high-performance permanent magnets in hydro, wind, and solar power generators to improve their efficiency and power output. A growing worldwide emphasis on renewable energy will keep driving demand for high-performance magnetic materials through investments in advanced motor and generator technologies.
Emerging imaging modalities involve magnetic materials since they offer good precision and stability, as well as biocompatibility, which facilitates their use in diagnostic instruments, medical imaging and therapeutic applications. One of the most significant of these developments is the high-strength permanent magnets for magnetic resonance imaging (MRI), which facilitate the non-invasive acquisition of high resolution anatomical scans without the harmful effects of ionizing radiation exposure.
Miniaturized magnetic sensors and actuators are used in even smaller scales in this booming field of wearable healthcare devices and implantable medical technologies. Drugs delivery implants, neurostimulation devices and pacemakers would benefit from the improved performance and patient safety of such biocompatible magnetic materials.
Magnetically responsive nanoparticles are also under investigation for use in targeted drug delivery, hyperthermia cancer treatments, and bio-imaging applications by medical researchers. Nanotechnology-based solutions using precisely engineered magnetic materials, allowing for controlled therapeutic responses and real-time imaging.
The sector has aging populations and rising demand for sophisticated healthcare technologies - making it a core consumer of high-precision magnetic materials. In order to ensure utmost diagnostic accuracy and treatment outcomes, companies are charging these high-purity, low-noise magnetic materials.
The Magnetic Materials Market is a vast and fast-growing field with a significant range of capabilities, and features from a broad vogue of industries. Companies specializing in this domain are engaged in manufacturing high-performance magnetic materials, such as rare-earth magnets, ferrite magnets, and soft magnetic materials. Market is expanding with the innovations in energy-saving solutions and growing deployment in EV (Electronic Vehicle) and wind energy applications.
Market Share Analysis by Company
| Company Name | Estimated Market Share (%) |
|---|---|
| Hitachi Metals, Ltd. | 14-19% |
| TDK Corporation | 11-15% |
| Arnold Magnetic Technologies | 7-11% |
| VACUUMSCHMELZE GmbH & Co. KG | 4-8% |
| Daido Steel Co., Ltd. | 3-6% |
| Other Companies (combined) | 50-60% |
| Company Name | Key Offerings/Activities |
|---|---|
| Hitachi Metals, Ltd. | Develops high-performance neodymium (NdFeB) magnets for automotive and industrial applications. Focuses on high-efficiency magnetic solutions for electric mobility. |
| TDK Corporation | Specializes in ferrite and rare-earth magnets used in consumer electronics, renewable energy, and medical devices. |
| Arnold Magnetic Technologies | Manufactures precision-engineered permanent magnets and soft magnetic materials for aerospace, defense, and industrial applications. |
| VACUUMSCHMELZE GmbH & Co. KG | Produces soft magnetic materials and advanced alloy solutions with a focus on minimizing energy losses in electrical applications. |
| Daido Steel Co., Ltd. | Develops rare-earth-free magnet alternatives and high-performance bonded magnets for automotive and electronics industries. |
Key Company Insights
Hitachi Metals, Ltd. (14-19%)
Hitachi Metals Hitachi Metals, a Japanese company that produces high-quality NdFeB magnets used in electric vehicles (EVs), wind turbines, and industrial automation, dominates the Magnetic Materials Market. The innovative introduction of high-efficiency magnetic components that boost power density and minimize energy usage continues.
TDK Corporation (11-15%)
TDK Corporation is one of the largest suppliers of ferrate and rare-earth magnets to the consumer electronics, renewable energy and automobile industries. The company is engaged in research to improve the performance of magnets, while also reducing reliance on rare raw materials.
Arnold Magnetic Technologies (7-11%)
Arnold Magnetic Technologies is a provider of precision-engineered magnetic materials used in aerospace, defense, and medical applications. The company specializes in high-performance permanent magnets and soft magnetic solutions, which improve.
VACUUMSCHMELZE GmbH & Co. KG (4-8%)
VACUUMSCHMELZE specializes in soft magnetic materials engineered to reduce energy loss in transformers, inductors, and power electronics. The company offers the world's best high-permeability alloys, serving advanced electrical and automotive markets.
Daido Steel Co., Ltd. (3-6%)
Daido Steel's patented rare-earth free magnets have finally arrived on the market, providing high-performance bonded magnets for automotive and industrial applications. The company has been working on designing the cost-competitive and sustainable magnetic materials to minimize dependence on critical raw materials.
Several other manufacturers contribute to the market by providing innovative and cost-efficient magnetic materials. These include:
The overall market size for Magnetic Materials Market was USD 22.8 Billion in 2025.
The Magnetic Materials Market is expected to reach USD 45.3 Billion in 2035.
The Magnetic Materials Market is growing due to its use in chemicals, pharmaceuticals, agriculture, and sustainable production, with rising demand in coatings, resins, and fragrances.
The top 5 countries which drives the development of Magnetic Materials Market are USA, UK, Europe Union, Japan and South Korea.
Nd-Fe-B to command significant share over the assessment period.
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Magnetic Materials Market
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