Global Advanced Magnetic Materials Market Size Study, by Type, by End-Use Industry, and Regional Forecasts 2024-2032

The Global Advanced Magnetic Materials Market was valued at USD 24.3 billion in 2023 and is projected to grow significantly, registering a robust CAGR of 9.5% during the forecast period from 2024 to 2032, reaching a market size of approximately USD 55.00 billion by 2032. Advanced magnetic materials, with their enhanced magnetic properties and energy efficiency, are critical in industries such as automotive, energy, healthcare, and electronics. These materials are key components in electric motors, transformers, and renewable energy technologies.

The market's growth is fueled by rapid industrialization, infrastructure development, and the increasing adoption of renewable energy solutions globally. Permanent magnetic materials, particularly rare-earth magnets, are essential in electric vehicle (EV) motors, wind turbines, and power systems, driving substantial demand. The automotive sector, with its transition to EVs and energy-efficient technologies, is a significant growth driver, while the renewable energy sector is propelling demand for high-performance magnets.

Technological advancements, including innovations in nanotechnology, magnetic nanoparticle applications, and material science, are enhancing the properties and applications of advanced magnetic materials. However, high production costs and challenges in sourcing rare-earth elements pose constraints on market growth. Nevertheless, opportunities such as advancements in recycling technologies and increasing demand for lightweight and energy-efficient materials in electric vehicles present promising growth prospects.

Asia-Pacific dominates the global market, driven by its robust manufacturing base, growing adoption of EVs, and significant investments in renewable energy. North America and Europe also contribute substantially, supported by strong technological innovation and regulatory support for clean energy initiatives.

Major market players included in this report are:

• 1. Adams Magnetic Products Co.
• 2. Advanced Technology & Materials Co., Ltd.
• 3. Arnold Magnetic Technologies
• 4. Hitachi Metals, Ltd.
• 5. Neo Performance Materials
• 6. TDK Corporation
• 7. VACUUMSCHMELZE GmbH & Co. KG (VAC)
• 8. Shin-Etsu Chemical Co., Ltd.
• 9. Ningbo Yunsheng Co., Ltd.
• 10. Daido Steel Co., Ltd.
• 11. Dexter Magnetic Technologies
• 12. Electron Energy Corporation
• 13. Master Magnetics
• 14. Yantai Shougang Magnetic Materials Inc.
• 15. Anhui Sinomag Technology Co., Ltd.

The detailed segments and sub-segments of the market are explained below:

By Type:

• Soft Magnetic Materials
• Permanent Magnetic Materials
• Semi-hard Magnetic Materials

By End-Use Industry:

• Healthcare
• Automotive
• Energy and Power
• Industrial
• Electronics
• Others

By Region:

• North America
• U.S.
• Canada
• Europe
• France
• Germany
• UK
• Italy
• Netherlands
• Spain
• Russia
• Asia Pacific
• Japan
• China
• India
• Malaysia
• Indonesia
• South Korea
• Rest of Asia-Pacific
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Saudi Arabia
• UAE
• Israel
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:

• Historical year - 2022
• Base year - 2023
• Forecast period - 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand-side and supply-side analysis of the market.