Magnetic Materials Market
Magnetic Materials Market Forecasts to 2030 - Global Analysis By Type (Soft Magnetic Materials and Hard Magnetic Materials), Application and By Geography
According to Stratistics MRC, the Global Magnetic Materials Market is accounted for $36.71 billion in 2024 and is expected to reach $57.62 billion by 2030 growing at a CAGR of 7.8% during the forecast period. Magnetic materials are substances that exhibit magnetic properties, such as attraction or repulsion to magnetic fields. These materials are characterized by their ability to become magnetized and retain magnetic properties, including ferromagnetic, ferrimagnetic, and paramagnetic behaviours. Their unique properties are leveraged to influence and control magnetic fields in technological applications.
According to the International Magnetics Association (IMA), China produces more than two-thirds of the world's rare earth magnets and controls the majority of the global refining and processing capacity.
Market Dynamics:
Driver:
Increasing industrial automation
Automated machinery and robotics rely on magnetic materials for precise control, sensing, and actuation. These materials are integral in producing high-performance motors, sensors, and actuators, which are crucial for efficient and accurate automation processes. As industries adopt more automation to improve productivity and efficiency, the need for reliable and advanced magnetic materials escalates, propelling market growth and stimulating innovation in magnetic material technologies.
Restraint:
Environmental concerns
Environmental concerns in the magnetic materials primarily involve the extraction and processing of rare earth elements, which can lead to significant ecological damage, pollution, and habitat destruction. Additionally, the disposal of these materials poses environmental risks due to their potential toxicity. Consequently, these factors can hinder market growth by increasing operational costs, slowing down production, and complicating supply chains, ultimately affecting the overall profitability and sustainability.
Opportunity:
Rising adoption of electric vehicles (EVs)
Electric vehicles rely on high-performance magnets in motors, batteries, and magnetic sensors to enhance efficiency, power output, and overall performance. These magnets, often made from rare earth materials, are essential for improving motor efficiency and extending battery life. As the EV market expands, the need for high-quality magnetic materials increases, fostering growth in this sector and encouraging innovations that meet the evolving demands of electric vehicle technology.
Threat:
Fluctuations in prices of raw materials
Fluctuations in raw material prices, such as rare earth elements, occur due to supply chain disruptions, geopolitical tensions, and variable mining outputs. These price changes impact production costs and can lead to instability in the magnetic materials market. It may result in increased prices for finished products, affecting profit margins and potentially deterring investment. Additionally, price volatility can disrupt long-term planning and supply agreements, creating uncertainty that hampers market growth and innovation.
Covid-19 Impact
The covid-19 pandemic significantly impacted the magnetic materials market, causing disruptions in supply chains and manufacturing operations. Lockdowns and restrictions led to delays and shortages, affecting production and delivery schedules. Additionally, decreased industrial activity and reduced consumer spending slowed market growth. However, the pandemic also accelerated the shift towards digital transformation and increased demand for electronics, driving recovery and growth in certain segments. The market is now rebounding as industries adapt to new norms and resume investment in technology and innovation.
The soft magnetic materials segment is expected to be the largest during the forecast period
The soft magnetic materials segment is estimated to have a lucrative growth. Soft magnetic materials are materials with low coercivity, enabling them to magnetize and demagnetize easily. They are used in applications requiring efficient magnetic performance with minimal energy loss, such as transformers, inductors, and electric motors. Common soft magnetic materials include silicon steel, nickel-iron alloys, and soft ferrites. Their key properties are high permeability, low hysteresis loss, and high electrical resistivity, making them ideal for dynamic magnetic applications.
The electronics segment is expected to have the highest CAGR during the forecast period
The electronics segment is anticipated to witness the highest CAGR growth during the forecast period. Magnetic materials are essential in electronics, enabling key functionalities in devices. They are used in components like transformers, inductors, sensors, and memory storage. These materials enhance performance in power supplies, signal processing, and data storage systems. Innovations in magnetic materials contribute to advancements in miniaturization, efficiency, and reliability of electronic devices, playing a crucial role in modern technology development and application.
Region with largest share:
The magnetic materials market in the Asia-Pacific region is rapidly expanding, driven by robust industrial growth and technological advancements. Key sectors such as electronics, automotive, and renewable energy are significant contributors to this growth. The region benefits from a strong manufacturing base, especially in countries like China, Japan, and South Korea, which are major producers and consumers of magnetic materials. Increased demand for advanced electronic devices and electric vehicles is fueling market expansion, making Asia-Pacific a critical hub for magnetic materials innovation and production.
Region with highest CAGR:
The magnetic materials market in North America is experiencing robust growth driven by demand in electronics, automotive, and renewable energy sectors. Key factors include advancements in technology, increased adoption of electric vehicles, and the rise of smart devices. The market is characterized by significant investment in research and development, fostering innovation in magnetic materials for enhanced performance. Major players in the region are focusing on expanding production capabilities and forming strategic partnerships to capitalize on emerging opportunities and meet evolving industry needs.
Key players in the market
Some of the key players profiled in the Magnetic Materials Market include Hitachi Metals Limited, TDK Corporation, Nippon Steel Corporation, Daido Steel Corporation, Shin-Etsu Chemical Corporation, Lynas Corporation, Arnold Magnetic Technologies, Electron Energy Corporation, OM Group, Adams Magnetic Products Corporation, Molycorp Inc., Vacuumschmelze GmbH & Co. KG, AK Steel Holding Corporation, Neo Performance Materials Inc. and Guangzhou Newlife New Material Corporation.
Key Developments:
In June 2024, Guangzhou Newlife New Material Corporation launched two groundbreaking products, Digital Press Magnetic Paper (Press-Mag) and Eco-friendly Wide-format Printable High-Strength Magnetic Sheeting (Super-Mag) at the drupa 2024 exhibition. Both magnets embody the company’s commitment to innovation and sustainability, addressing key industry challenges and enhancing the capabilities of various printing technologies.
In July 2023, Neo Magnequench, a division of Neo Performance Materials Inc. broke ground on construction of the first rare earth magnet manufacturing facility in Europe designed to produce specialized rare earth permanent magnets for use in electric vehicles, wind turbines, and other clean energy technologies.
Types Covered:
• Soft Magnetic Materials
• Hard Magnetic Materials
Applications Covered:
• Electronics
• Automotive
• Energy & Power
• Industrial
• Medical
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Magnetic Materials Market, By Type
5.1 Introduction
5.2 Soft Magnetic Materials
5.2.1 Iron-Silicon Alloys
5.2.2 Amorphous Steels
5.2.3 Nickel-Iron Alloys
5.3 Hard Magnetic Materials
5.3.1 Ferrites
5.3.2 Rare Earth Magnets
5.3.3 Alnico Magnets
6 Global Magnetic Materials Market, By Application
6.1 Introduction
6.2 Electronics
6.3 Automotive
6.4 Energy & Power
6.5 Industrial
6.6 Medical
6.7 Other Applications
7 Global Magnetic Materials Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Hitachi Metals Limited
9.2 TDK Corporation
9.3 Nippon Steel Corporation
9.4 Daido Steel Corporation
9.5 Shin-Etsu Chemical Corporation
9.6 Lynas Corporation
9.7 Arnold Magnetic Technologies
9.8 Electron Energy Corporation
9.9 OM Group
9.10 Adams Magnetic Products Corporation
9.11 Molycorp Inc.
9.12 Vacuumschmelze GmbH & Co. KG
9.13 AK Steel Holding Corporation
9.14 Neo Performance Materials Inc.
9.15 Guangzhou Newlife New Material Corporation
List of Tables
1 Global Magnetic Materials Market Outlook, By Region (2022-2030) ($MN)
2 Global Magnetic Materials Market Outlook, By Type (2022-2030) ($MN)
3 Global Magnetic Materials Market Outlook, By Soft Magnetic Materials (2022-2030) ($MN)
4 Global Magnetic Materials Market Outlook, By Iron-Silicon Alloys (2022-2030) ($MN)
5 Global Magnetic Materials Market Outlook, By Amorphous Steels (2022-2030) ($MN)
6 Global Magnetic Materials Market Outlook, By Nickel-Iron Alloys (2022-2030) ($MN)
7 Global Magnetic Materials Market Outlook, By Hard Magnetic Materials (2022-2030) ($MN)
8 Global Magnetic Materials Market Outlook, By Ferrites (2022-2030) ($MN)
9 Global Magnetic Materials Market Outlook, By Rare Earth Magnets (2022-2030) ($MN)
10 Global Magnetic Materials Market Outlook, By Alnico Magnets (2022-2030) ($MN)
11 Global Magnetic Materials Market Outlook, By Application (2022-2030) ($MN)
12 Global Magnetic Materials Market Outlook, By Electronics (2022-2030) ($MN)
13 Global Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
14 Global Magnetic Materials Market Outlook, By Energy & Power (2022-2030) ($MN)
15 Global Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
16 Global Magnetic Materials Market Outlook, By Medical (2022-2030) ($MN)
17 Global Magnetic Materials Market Outlook, By Other Applications (2022-2030) ($MN)
18 North America Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
19 North America Magnetic Materials Market Outlook, By Type (2022-2030) ($MN)
20 North America Magnetic Materials Market Outlook, By Soft Magnetic Materials (2022-2030) ($MN)
21 North America Magnetic Materials Market Outlook, By Iron-Silicon Alloys (2022-2030) ($MN)
22 North America Magnetic Materials Market Outlook, By Amorphous Steels (2022-2030) ($MN)
23 North America Magnetic Materials Market Outlook, By Nickel-Iron Alloys (2022-2030) ($MN)
24 North America Magnetic Materials Market Outlook, By Hard Magnetic Materials (2022-2030) ($MN)
25 North America Magnetic Materials Market Outlook, By Ferrites (2022-2030) ($MN)
26 North America Magnetic Materials Market Outlook, By Rare Earth Magnets (2022-2030) ($MN)
27 North America Magnetic Materials Market Outlook, By Alnico Magnets (2022-2030) ($MN)
28 North America Magnetic Materials Market Outlook, By Application (2022-2030) ($MN)
29 North America Magnetic Materials Market Outlook, By Electronics (2022-2030) ($MN)
30 North America Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
31 North America Magnetic Materials Market Outlook, By Energy & Power (2022-2030) ($MN)
32 North America Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
33 North America Magnetic Materials Market Outlook, By Medical (2022-2030) ($MN)
34 North America Magnetic Materials Market Outlook, By Other Applications (2022-2030) ($MN)
35 Europe Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
36 Europe Magnetic Materials Market Outlook, By Type (2022-2030) ($MN)
37 Europe Magnetic Materials Market Outlook, By Soft Magnetic Materials (2022-2030) ($MN)
38 Europe Magnetic Materials Market Outlook, By Iron-Silicon Alloys (2022-2030) ($MN)
39 Europe Magnetic Materials Market Outlook, By Amorphous Steels (2022-2030) ($MN)
40 Europe Magnetic Materials Market Outlook, By Nickel-Iron Alloys (2022-2030) ($MN)
41 Europe Magnetic Materials Market Outlook, By Hard Magnetic Materials (2022-2030) ($MN)
42 Europe Magnetic Materials Market Outlook, By Ferrites (2022-2030) ($MN)
43 Europe Magnetic Materials Market Outlook, By Rare Earth Magnets (2022-2030) ($MN)
44 Europe Magnetic Materials Market Outlook, By Alnico Magnets (2022-2030) ($MN)
45 Europe Magnetic Materials Market Outlook, By Application (2022-2030) ($MN)
46 Europe Magnetic Materials Market Outlook, By Electronics (2022-2030) ($MN)
47 Europe Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
48 Europe Magnetic Materials Market Outlook, By Energy & Power (2022-2030) ($MN)
49 Europe Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
50 Europe Magnetic Materials Market Outlook, By Medical (2022-2030) ($MN)
51 Europe Magnetic Materials Market Outlook, By Other Applications (2022-2030) ($MN)
52 Asia Pacific Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
53 Asia Pacific Magnetic Materials Market Outlook, By Type (2022-2030) ($MN)
54 Asia Pacific Magnetic Materials Market Outlook, By Soft Magnetic Materials (2022-2030) ($MN)
55 Asia Pacific Magnetic Materials Market Outlook, By Iron-Silicon Alloys (2022-2030) ($MN)
56 Asia Pacific Magnetic Materials Market Outlook, By Amorphous Steels (2022-2030) ($MN)
57 Asia Pacific Magnetic Materials Market Outlook, By Nickel-Iron Alloys (2022-2030) ($MN)
58 Asia Pacific Magnetic Materials Market Outlook, By Hard Magnetic Materials (2022-2030) ($MN)
59 Asia Pacific Magnetic Materials Market Outlook, By Ferrites (2022-2030) ($MN)
60 Asia Pacific Magnetic Materials Market Outlook, By Rare Earth Magnets (2022-2030) ($MN)
61 Asia Pacific Magnetic Materials Market Outlook, By Alnico Magnets (2022-2030) ($MN)
62 Asia Pacific Magnetic Materials Market Outlook, By Application (2022-2030) ($MN)
63 Asia Pacific Magnetic Materials Market Outlook, By Electronics (2022-2030) ($MN)
64 Asia Pacific Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
65 Asia Pacific Magnetic Materials Market Outlook, By Energy & Power (2022-2030) ($MN)
66 Asia Pacific Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
67 Asia Pacific Magnetic Materials Market Outlook, By Medical (2022-2030) ($MN)
68 Asia Pacific Magnetic Materials Market Outlook, By Other Applications (2022-2030) ($MN)
69 South America Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
70 South America Magnetic Materials Market Outlook, By Type (2022-2030) ($MN)
71 South America Magnetic Materials Market Outlook, By Soft Magnetic Materials (2022-2030) ($MN)
72 South America Magnetic Materials Market Outlook, By Iron-Silicon Alloys (2022-2030) ($MN)
73 South America Magnetic Materials Market Outlook, By Amorphous Steels (2022-2030) ($MN)
74 South America Magnetic Materials Market Outlook, By Nickel-Iron Alloys (2022-2030) ($MN)
75 South America Magnetic Materials Market Outlook, By Hard Magnetic Materials (2022-2030) ($MN)
76 South America Magnetic Materials Market Outlook, By Ferrites (2022-2030) ($MN)
77 South America Magnetic Materials Market Outlook, By Rare Earth Magnets (2022-2030) ($MN)
78 South America Magnetic Materials Market Outlook, By Alnico Magnets (2022-2030) ($MN)
79 South America Magnetic Materials Market Outlook, By Application (2022-2030) ($MN)
80 South America Magnetic Materials Market Outlook, By Electronics (2022-2030) ($MN)
81 South America Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
82 South America Magnetic Materials Market Outlook, By Energy & Power (2022-2030) ($MN)
83 South America Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
84 South America Magnetic Materials Market Outlook, By Medical (2022-2030) ($MN)
85 South America Magnetic Materials Market Outlook, By Other Applications (2022-2030) ($MN)
86 Middle East & Africa Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
87 Middle East & Africa Magnetic Materials Market Outlook, By Type (2022-2030) ($MN)
88 Middle East & Africa Magnetic Materials Market Outlook, By Soft Magnetic Materials (2022-2030) ($MN)
89 Middle East & Africa Magnetic Materials Market Outlook, By Iron-Silicon Alloys (2022-2030) ($MN)
90 Middle East & Africa Magnetic Materials Market Outlook, By Amorphous Steels (2022-2030) ($MN)
91 Middle East & Africa Magnetic Materials Market Outlook, By Nickel-Iron Alloys (2022-2030) ($MN)
92 Middle East & Africa Magnetic Materials Market Outlook, By Hard Magnetic Materials (2022-2030) ($MN)
93 Middle East & Africa Magnetic Materials Market Outlook, By Ferrites (2022-2030) ($MN)
94 Middle East & Africa Magnetic Materials Market Outlook, By Rare Earth Magnets (2022-2030) ($MN)
95 Middle East & Africa Magnetic Materials Market Outlook, By Alnico Magnets (2022-2030) ($MN)
96 Middle East & Africa Magnetic Materials Market Outlook, By Application (2022-2030) ($MN)
97 Middle East & Africa Magnetic Materials Market Outlook, By Electronics (2022-2030) ($MN)
98 Middle East & Africa Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
99 Middle East & Africa Magnetic Materials Market Outlook, By Energy & Power (2022-2030) ($MN)
100 Middle East & Africa Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
101 Middle East & Africa Magnetic Materials Market Outlook, By Medical (2022-2030) ($MN)
102 Middle East & Africa Magnetic Materials Market Outlook, By Other Applications (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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