Skip navigation
Reports & Analysis Strategic Insights Research Subscriptions
Sign In / Create Account Cart
Sign In / Create Account Cart
  • Reports & Analysis
  • Strategic Insights
  • Research Subscriptions

Resources

  • Analyst Buzz
  • Press Releases
  • Blog
  • Resources & Downloads

The Freedonia Group

  • Contact
  • About
  • Our Staff
  • Help Center
  • Career Opportunities
Freedonia Market Research Freedonia Group Global Magnets

Global Magnets

Industry Reports, United States

Report Overview

This global study on magnets analyzes the supply of and demand for permanent magnets, which are defined as “hard” materials that can be magnetized (gain the ability to attract iron and other ferromagnetic objects) by an external magnetic field and remain magnetized after the external field is removed.

 

Table of Contents

    • $323.44

    • $1,334.59

      • $497.02

      • $323.44

        • $323.44

        • $323.44

      • $323.44

      • $323.44

        • $323.44

        • $323.44

        • $323.44

        • $323.44

        • $323.44

      • $323.44

        • $323.44

        • $323.44

        • $323.44

        • $323.44

    • $2,610.30

      • $428.89

      • $540.07

      • $504.92

      • $520.31

      • $612.59

    • $2,264.45

      • $323.44

      • $425.82

      • $490.87

      • $558.97

      • $491.74

    • $5,348.02

      • $370.45

      • $1,033.14

        • $432.85

        • $431.97

      • $452.63

      • $393.75

      • $640.26

        • $323.44

        • $323.44

        • $323.44

        • $323.44

      • $414.39

      • $1,612.76

        • $428.47

        • $415.71

        • $323.44

        • $323.44

        • $323.44

        • $323.44

        • $323.44

        • $323.44

      • $427.58

    • $466.68

      • $323.44

      • $323.44

      • $323.44

    • $5,433.75

      • $457.91

      • $323.44

      • $323.44

      • $323.44

      • $600.71

      • $1,286.69

      • $4,311.38

Featuring 37 tables and 21 figures – now available in Excel and Powerpoint! Learn More

Magnets

The major products that are used to make permanent magnets are:

  • neodymium (also called neodymium-iron-boron (NdFeB), neo, or rare earth)
  • ferrite (or ceramic)
  • samarium cobalt (SmCo or rare earth)
  • alnico
  • other magnets, including copper nickel iron (CuNiFe), iron chromium cobalt (FeCrCo), iron cobalt vanadium (also referred to as FeCoV and vicalloy), iron cobalt vanadium chromium (FeCoVCr), and samarium iron nitride (SmFeN) types

The major markets for magnets analyzed in the study are:

  • electronics, including CD and DVD players, computers, electronic calculators, electronic cameras and camcorders, electronic game systems, electronic watches, garage door openers, hearing aids, home entertainment systems, mobile phones, portable music and video players, and printers
  • industrial machinery of all types, including air and gas compressors, construction and other heavy mobile equipment, industrial power transmission systems, material handling equipment (conveyors, forklift trucks, etc.), metalworking and plastics processing machinery, packaging equipment, pumps, and turbine generators
  • automotive, including components and parts used in light vehicles, buses, trucks, and vans
  • other markets, including aerospace and military equipment, all-terrain vehicles, electric bicycles and scooters, furniture and fixtures (catches and closures), guitars and other musical instruments, heating and cooling equipment, household appliances, ICE-powered motorcycles, locomotives, MRI machines and other medical equipment, refrigerator magnets, scientific instruments, ships and boats, and toys

At the world level, industrial magnet demand is broken out by application (electric motors and other); automotive magnet demand is broken out by vehicle type (conventional, including mild and micro hybrids; and full/plug-in hybrids and electric vehicles) and application (electric motors and other); and demand for magnets used in other markets is broken out by segment (electric bicycles and motorcycles, and all other).

Also provided at the global level is demand by magnet type in metric tons.

Demand figures presented here represent the value of finished magnets and do not include the value of magnet-containing subassemblies or devices.

Historical data (2008, 2013, and 2018) and forecasts for 2023 are provided on a region-by-region basis for magnet value demand (by product type and by market) and for select countries (US, Canada and Mexico, China, Japan). Total magnet demand is also provided in a yearly series from 2004 through 2018 on a country-by-country basis.

The global permanent magnet market was valued at $12.3 billion in 2018 and is forecast to climb 7.7% annually through 2023 to $17.9 billion, driven by increasing demand for efficient and smaller industrial parts – including sensors, switches, and electronic systems – along with technological advancements, which are boosting sales of more expensive products.

Key Findings in the Magnets Study:

Key Product Trends Through 2023

  • Neodymium, the strongest magnet type currently available, dominates dollar sales, while ferrite magnets, the least expensive on a per kilogram basis, account for the largest share of demand in volume terms.
  • Neodymium magnets are expected to post the fastest value gains of any magnet type, driven by the superior performance they can provide as well as their widespread use in electric vehicles, computers, smartphones, and sensors.
  • China and Japan together produce more than 95% of the global neodymium magnet supply.

Key Market Trends Through 2023

  • The Asia/Pacific region is by far the largest regional market for magnets, commanding 70% of world sales in 2018, due to the presence of China, which is the largest national market by a substantial margin, based on its very large electronics and automobile industries.
  • China alone will account for 56% of all additional magnet sales through 2023.
  • Additionally, China is one of the largest producers of magnetic materials. Although the nation manufactures all of the major magnet types in substantial quantities, neodymium and samarium cobalt magnets account for above average shares of the country’s output, reflecting the easy access to and favorable prices for rare earths that Chinese firms enjoy.
  • In large markets such as electronics and motor vehicles, ongoing efforts to minimize product size and weight while simultaneously adding new features will contribute to growth in sales of neodymium magnets.
  • Automotive-related magnet demand is expected to grow robustly, spurred by increases in motor vehicle output and the number of magnet-using devices installed in the average vehicle. Expanding production of full and plug-in hybrids and electric vehicles, which utilize more magnetic materials than conventional vehicles, will also support market gains.

Study Coverage

This Freedonia industry study analyzes the $12.3 billion global magnet market. It presents historical demand data (2008, 2013, 2018) and forecasts for 2023 by product (neodymium, ferrite, samarium cobalt, alnico), market (electronics, industrial, automotive), and major region. The study also evaluates company market share and analyzes industry competitors including Bejing Zhong Ke San Huan Hi-Tech, Daido Steel, Hengdian Group, Hitachi, JL MAG Rare Earth, Ningbo Yunsheng, Shin-Etsu Chemical, and TDK.

Purchase Options

Access Options

Membership

Complementary Access to Report Including:

  • consultative access to our analyst
  • unlimited downloads to reports
  • global market research in 9 languages
  • customized PPT presentations
  • passwords for your teams available
  • and more...
Become a Member
Purchase This Report

Select your license:

  • $5,400.00
  • $6,900.00
  • $8,400.00
  • — —
    Section prices in Table of Contents

Questions & Assistance

Email us

Share This Report

Copied to clipboard. Could not copy to clipboard.

Download a Free Sample Report Now

Sample Reports include examples of all the tables, charts, infographics and topics included in this study.
By submitting this sample request you consent to receiving marketing communications from us. See our privacy policy to learn how to unsubscribe.

Use Licenses

The Single User License (SUL) authorizes a single individual to use the electronic study acquired. Agreement to the SUL is required in order to purchase the study. If you require more than one user a Departmental Site License or Global Site License should be purchased. 

The Departmental Site License (DSL) authorizes up to five users to share the study acquired. Agreement to the DSL is required in order to purchase the study. If your organization requires more than five users, the Global Site License should be purchased.

The Global Site License (GSL) allows everyone in your organization to share the study intelligence. Agreement to the Global Site License terms is necessary in order to purchase it. 

;

Related Reports and Studies

  • Titanium: United States Report

    Focus Reports

    This report forecasts to 2029 US demand for titanium mineral concentrates, titanium dioxide pigments, and titanium metal in metric tons and nominal US dollars at the producer level.

    NEW! June 2025 34 pages
    Free sample available
  • Pigments: United States Report

    Focus Reports

    This report forecasts to 2029 US pigments demand and shipments in nominal US dollars at the manufacturer level.

    NEW! June 2025 32 pages
    Free sample available
  • Metals Mining: Global Report

    Focus Reports

    This report forecasts to 2029 global metals mining by commodity and major world region in metric tons. Commodity segments include: iron ore, bauxite, copper, and other metals such as cobalt, platinum, and zinc.

    NEW! June 2025 32 pages
    Free sample available
  • Minerals Mining: Global Report

    Focus Reports

    This report forecasts to 2029 global minerals mining by commodity and major world region in metric tons. Commodity segments include: construction aggregates, industrial sand and gravel, phosphate rock, potash, and other minerals such as feldspar, gypsum, and mica.

    NEW! June 2025 30 pages
    Free sample available
  • Aluminum: United States Report

    Focus Reports

    This report forecasts to 2029 US aluminum demand and production in metric tons.

    NEW! May 2025 37 pages
    Free sample available
  • Salt: Canada

    Focus Reports

    This report forecasts to 2029 salt demand in metric tons in Canada.

    NEW! February 2025 24 pages
    Free sample available
  • Industrial Supplies Wholesale: United States

    Focus Reports

    This report forecasts to 2028 US sales of industrial supplies in nominal US dollars at the wholesale level. Total sales are segmented by product in terms of: industrial containers; industrial valves and fittings; mechanical power transmission; abrasives; mechanical rubber goods; strapping and tape; welding supplies; ink and printing; hardware; other supplies such as automotive parts, pipes and tubing, and pumps and compressors.

    December 2024 34 pages
    Free sample available
  • Metal Services: United States

    Focus Reports

    This report forecasts to 2028 US metal services revenues in nominal US dollars at the wholesale level. Total revenues are segmented by product in terms of: ferrous metals and nonferrous metals.

    December 2024 38 pages
    Free sample available
  • Control Technologies: United States

    Focus Reports

    This report forecasts to 2028 US control technologies demand and shipments in nominal US dollars at the manufacturer level.

    November 2024 28 pages
    Free sample available
  • Copper Pipe: United States

    Focus Reports

    This report forecasts to 2028 US copper pipe demand in nominal US dollars at the manufacturer level. Total demand is segmented by market in terms of: structural and mechanical; potable water; drain, waste, and vent; industrial processing; irrigation.

    NEW! October 2024 24 pages
    Free sample available
View More

Have unique research needs?

Freedonia Strategic Insights listens intently to your needs and objectives. Then we work diligently to define a service offering to meet them.
Learn About Our Custom Research Services

Stay informed with Freedonia

Receive periodic updates about new market research in areas relevant to your business. Have the convenience of Freedonia research at your fingertips when you need it.
The Freedonia Group needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, please review our Privacy Policy.
  • Contact
  • About
  • Help Center
  • Career Opportunities
  • Press Contact
  • User Agreement
  • Privacy Policy
  • Site Map

Additional Resources

  • Market Size Resources
  • Lawn & Garden Market Research
  • Roofing Market Research
  • Pet Products Market Research
  • Countertops Market Research
  • Power Tools Market Research
  • Publishing for the PreK-12 Market Research
  • Insulation Market Resaerch
  • Cabinets Market Research
  • Flooring Market Research
  • Pet Supplements Market Research
  • Agricultural Equipment Market Research
  • Open Access Publishing Market Research
  • Silicones Market Research
  • For Legal Inquiries, contact Cohen & Cohen
Copyright © 2025 The Freedonia Group, Inc. All rights reserved.