The Advanced Magnetic Materials Market size  was valued at US$ 24.1 million in 2023. It is expected to grow to US$ 49.4 million by 2031, showing a CAGR of 9.4% during the forecast period from 2024 to 2031.The Advanced Magnetic Materials Market is growing because of the rising demand for electric vehicles, renewable energy systems, and consumer electronics. Improvements in magnet performance and efficiency, along with more investments in sustainable energy and automotive electrification, are fueling market growth in key regions such as the U.S., Japan, and Europe.  

U.S Market Recent Launches-

  -In July 2025, Apple Inc. secured a $500 million agreement with MP Materials, the sole operator of a U.S. rare earths mine, to ensure a long-term supply of rare earth magnets essential for electronic devices. This partnership includes a $200 million prepayment and supports the production of magnets from recycled rare earths at MP Materials' facilities in California and Texas. The move aims to reduce reliance on Chinese suppliers and bolster the U.S. supply chain for critical minerals.

Japan Market recent launches- 

  -At the 2025 Yokohama Automotive Technology Exhibition, Heganes Japan introduced its newly developed sintering metal powder "Starmix® Nova" and the 7P grade of soft magnetic composite material "Somaloy®." These innovations aim to address challenges in electrification by offering high apparent density, excellent flowability, and reduced iron loss, contributing to improved productivity and performance in automotive applications.

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Market segmentation-

By Type:

  -Soft Magnetic Materials: These materials are easily magnetized and demagnetized. They are ideal for applications like transformers, inductors, and electromagnetic shielding. They are widely used in power generation and electronics.

  -Permanent Magnetic Materials: These materials keep their magnetic properties without an external magnetic field. They are vital components in electric motors, generators, wind turbines, and magnetic storage devices. Common types include neodymium-iron-boron (NdFeB) and samarium-cobalt magnets.

  -Semi-hard Magnetic Materials: These are used when partial magnetization is needed. They are commonly found in data storage, sensors, and some types of electronic relays.

By End-User Industry:

  -Automotive: The rise of electric vehicles (EVs), hybrid vehicles, and advanced driver-assistance systems (ADAS) is increasing the demand for permanent magnets in electric motors and powertrain parts.

  -Electronics: Magnetic materials are crucial in consumer electronics. They are used in speakers, sensors, actuators, and small devices that need high magnetic performance in a compact size.

  -Energy & Power: Magnetic materials are important in renewable energy systems, such as wind turbines and inverters. They are also used in power distribution equipment like transformers and circuit breakers.

  -Healthcare / Medical: In the medical field, magnetic materials are found in MRI machines, diagnostics, and surgical tools. High precision and consistent magnetic fields are critical here.

  -Industrial: This segment includes applications in automation, robotics, magnetic separators, and   lifting equipment. The push for industrial automation and smart factories is increasing the use of advanced magnets.

Market drivers-

  -Surging Demand for Electric Vehicles (EVs):-  Electric vehicles depend on high-performance permanent magnets, particularly in electric motors and powertrains. As governments promote cleaner transportation and automakers increase EV production, the need for top-quality magnetic materials is growing.

  -Expansion of Renewable Energy Systems:-  High-performance magnets are essential in wind turbines and other renewable energy technologies. The global shift toward clean energy and carbon neutrality is driving significant demand for magnetic materials that improve efficiency and durability.

Miniaturization in Electronics:-  The consumer electronics sector is increasingly using compact, high-performance components. High-quality magnetic materials play a key role in producing sensors, actuators, and precision parts in smartphones, laptops, and smart home devices.

    -Growth in Healthcare Technologies:-  Magnetic materials are vital in MRI machines, medical sensors, and diagnostic devices. As the healthcare sector incorporates more advanced imaging and treatment tools, the need for dependable, high-quality magnetic materials rises.

  -Technological Advancements in Magnetics:-  Ongoing research has produced stronger, lighter, and more temperature-resistant magnets. Innovations like nanostructured magnets and hybrid composites are creating new applications in various industries.

  -Government Support & Supply Chain Localization:- Countries like the U.S. and Japan are investing in local rare earth processing and magnet manufacturing to lessen their reliance on imports. This effort is building a stronger and more self-sufficient supply chain for magnetic materials.

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Key Players-

  -Hitachi Metals Ltd. (Japan)

  -TDK Corporation (Japan)

  -Daido Steel Ltd. (Japan)

  -Shin-Etsu Chemical Co. Ltd. (Japan)

  -Arnold Magnetic Technologies (USA)

  -Anhui Sinomag Technology Co. Ltd. (China)

  -Neo Performance Materials Inc. (Canada)

  -Vacuumschmelze GmbH & Co. KG (Germany)

  -Ningbo Yunsheng Co. Ltd. (China)

  -Dexter Magnetic Technologies (USA)

Recent Developments in 2025

  -Neo Performance Materials opened a €75 million rare-earth magnet production facility in Estonia. This facility is Europe’s first large-scale plant of its kind. It received an €18.7 million EU grant and a $50 million Canadian credit line. The plant aims to produce 5,000 tons of magnets each year to meet the rising demand in electric vehicles and renewable energy. This move helps Europe reduce its dependence on Chinese supply chains, as the continent currently relies on China for 98% of its rare-earth magnet imports.  

Financial Times

  -MP Materials has begun commercial production of neodymium-praseodymium (NdPr) metal and trial production of automotive-grade, sintered NdFeB magnets at its Independence facility in Fort Worth, Texas. This marks a significant step in rebuilding a fully integrated rare earth magnet supply chain in the United States. The goal is to produce about 1,000 metric tons of finished NdFeB magnets each year by late 2025.  

Reddit

  -Apple has announced a $500 million investment in MP Materials, the operator of the only rare earths mine in the U.S. This move aims to diversify the rare earth supply chain away from China. It includes plans to source U.S.-made rare earth magnets from MP’s Texas facility. The partnership also plans to build another magnet manufacturing facility in Texas and a recycling plant near MP’s existing mine in Mountain Pass, California.  

Reuters

  -HyProMag is working with Areera to focus on recovering and recycling rare earth magnets found in speaker assemblies from display equipment. This initiative aims to tap into a significant market opportunity for recycling in the UK and other areas, where very few of these materials are currently recovered. The collaboration uses Hydrogen Processing of Magnet Scrap (HPMS) technology to create a concentrated feed of NdFeB magnets for recycling.  

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Benefits of the report- 

  -Detailed Market Analysis: Understand current trends, growth drivers, and challenges shaping the market landscape.

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  -Competitive Landscape: Learn about key players, their strategies, and innovations driving market competition.

  -Forecast Data: Access reliable market size and growth projections up to 2031 to plan long-term strategies.

  -Emerging Opportunities: Discover new applications and technologies that may disrupt the market.

  -Strategic Guidance: Use practical recommendations to take advantage of market trends and reduce risks.

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Conclusion-

The Advanced Magnetic Materials Market is set for strong growth due to rising demand in electric vehicles, renewable energy, healthcare, and electronics. New technology and increasing government efforts to localize supply chains are reinforcing the market's base. As innovation progresses and sustainability becomes more important, companies that invest in new materials and manufacturing capabilities will take the lead. This market offers significant opportunities for stakeholders looking to take advantage of the changing industrial landscape through 2031 and beyond.

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