Advanced Magnetic Materials Market Size, Share, By Type (Hard, Semi-hard, Soft), By End- User Industry (Automotive, Energy, Medical, Electronics, Aerospace, Transportation, Information Technology (IT)), and By Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis and Forecast till 2034

Advanced Magnetic Materials Market Size was valued at US$ 25.8 billion in 2024 and is expected to grow at a CAGR of 8.2% to reach US$ 52.7 billion by 2034

Advanced magnetic materials are a family of specially designed materials that, in comparison to conventional magnetic materials, have special and improved magnetic properties. They are made especially to perform well in particular applications. Advanced magnetic materials, in contrast to naturally occurring magnetic materials, are created with particular functions in mind. Properties like remanence, coercivity, and permeability are under the scientists' control. Innovation in many different fields is greatly aided by advanced magnetic materials.  They are influencing a future that is more technologically sophisticated, sustainable, and efficient by providing customized properties and facilitating technological developments.

Global infrastructure development and industrialization are driving growth in the market for advanced magnetic materials. The demand for these materials is rising across sectors as a result of the increased industrialization and urbanization of emerging economies. They are essential parts of infrastructure, transportation, and industrial machines that improve performance and energy efficiency. The demand for advanced magnetic materials is further increased by the growth of smart cities, transit networks, and infrastructure for renewable energy. By enabling the creation of high-performance magnets for a range of uses, these materials help to modernize and improve the effectiveness of industrial infrastructure and processes.

Key Drivers of Target Market:

Increasing use of electric automobiles:

• One major driver of the advanced magnetic materials market is the spike in the usage of electric vehicles (EVs). Because of their strong magnetic fields and ability to ensure effective power conversion, permanent magnets—especially rare earth magnets like neodymium and samarium-cobalt—are essential components of electric motors for electric vehicles. Electric motor efficiency and dependability are being improved by ongoing developments in magnetic materials, including new compositions and production methods. The global market for electric vehicles (EVs) is expanding quickly as a result of the growing emphasis on lowering carbon emissions and promoting sustainable transportation options. Due to the growing EV market and the need for more ecologically friendly modes of transportation, it is anticipated that the demand for sophisticated magnetic materials will only increase further.

Rising need for durability and miniaturization in electronics:

• For miniaturized transformers, inductors, and filters in a variety of devices, the electronics industry growth mostly depends on soft magnetic materials. The market will continue to grow as long as there is a persistent need for smaller, more effective electronics.

Restrains:

Exorbitant production expenses combined with volatile raw material costs:

• High production costs are a barrier for the market for improved magnetic materials. The complex and specialized equipment and knowledge required for the manufacturing of materials such as rare earth magnets and magnetic nanostructures drive up costs. Furthermore, the price of essential rare earth components for permanent magnets, such as dysprosium and neodymium, might fluctuate. Particularly for cost-sensitive companies, this price volatility can impede market expansion and breed uncertainty.

Opportunities:

Hotspot of clean energy:

• Modern magnetic materials are essential to wind turbines and transformers, helping to maximize energy generation and transmission efficiency as the globe shifts to clean energy sources. The development of innovative materials will be essential to securing a sustainable energy future.

The market is segmented based on Type, End-User Industry, and Region.

Type Insight:

• Hard: Hard magnetic materials have a permanent magnetic field and are not readily magnetized or demagnetized. The domain walls' immobility is caused by flaws and irregularities in the crystal. Hard magnetic materials, which include carbon steel, tungsten steel, cobalt steel, and hard ferrites, are utilized to make a wide range of sensors and devices that need permanent magnets because they have high hysteresis loop areas and, as a result, large energy loss each cycle of magnetization. Applications for hard magnetic materials are numerous in the automotive, electronics, and renewable energy industries.
• Semi-hard: The primary factor used to categories materials as "semi-hard" is their coercively, which falls between the soft (the lower the better) and hard (the higher the better) ranges. When adjustability is required, these materials are employed in sensors, relays, and clutches.
• Soft: Soft magnetic materials can be magnetised and demagnetized with ease, but they cannot be magnetised indefinitely. To magnetise and demagnetize a soft magnetic material, less energy is needed. To create electromagnets, they are utilised. Because of their tiny and shallow hysteresis loops, soft magnetic materials lose less energy during each magnetization cycle. Electromagnets, reactors, relays, and the cores of electrical rotating machines are among the many devices that are made with them.

End-User Industry Insights

• Automotive: The automobile industry accounted for a considerable portion of revenue. There is a significant need for better magnetic materials in power electronics and electric motors due to the growing popularity of electric vehicles. These materials draw investments by helping to improve energy efficiency and light weighting activities in vehicle components.
• Energy: In the field of energy, these materials are essential to transformers, smart grid technology, and wind turbines (generators). Wind energy in wind turbines is converted to electricity by permanent magnets. In transformers and power transmission, soft magnetics increase efficiency.
• Medical: Permanent magnets are essential to Magnetic Resonance Imaging (MRI) machines in the medical field. Medical equipment such as hearing aids and pacemakers uses soft magnetics. The market will expand due to the rising demand for cutting-edge medical equipment.
• Electronics: For transformers, inductors, and filters used in electrical devices to be more efficient and smaller, soft magnetic materials are a need. The industry demand will be driven by rising consumer electronics demand as well as developments in fields like 5G technology.
• Aerospace: Aerospace in the future may include electric and hybrid aircraft. High strength, temperature-resistant permanent magnets are essential for effective motors and generators in these propulsion systems.
• Transportation: Among the most often used applications is this one. Electric motors and generators run on permanent magnets, which makes high-performance and efficient electric propulsion possible for EVs and HEVs. Improvements in material qualities have a direct impact on increased vehicle performance and range.
• Information Technology (IT): In IT industry, hard disc drives (HDDs) employ advanced magnetic materials in their read/write heads to store data. To produce HDDs with greater capacities, research focuses on materials with higher recording densities.

Regional Insights

• North America: North America has a substantial need for advanced magnetic materials in industries including automotive, electronics, and healthcare due to the region's strong key player presence and high propensity to embrace cutting-edge technology. Policies, financing for research, and government efforts all contribute to the expansion of the market.
• Asia Pacific: The market share of the Asia-Pacific area was substantial. It drives demand for these materials as a significant hub for production for sectors like electronics, automotive, and healthcare. Advanced magnetic materials are becoming more and more necessary for automotive components due to the region's growing automotive industry, especially with the popularity of electric and hybrid automobiles.
• Europe: Europe is a major player in the global market for advanced magnetic materials, with notable nations like Germany, France, and the Netherlands being well-known for their expertise in a variety of fields, including electronics, renewable energy systems, and automotive engineering. 
• Latin America: The demand for efficient motors and generators in buildings and infrastructure projects in Latin America is driven by the region's expanding cities and developing economy. This increases the demand for high-tech magnetic materials with enhanced functionality.
• Middle East and Africa:  The rising economies and developing infrastructure in MEA regions are driving up demand for sophisticated magnetic materials. In developed markets, it emphasizes on affordability and keeping up with technical developments.

Advanced Magnetic Materials Market Report Scope:

Attribute	Details
Market Size 2024	US$ 25.8 billion
Projected Market Size 2034	US$ 52.7 billion
CAGR Growth Rate	8.2%
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Type - Hard, Semi-hard, Soft By End- User Industry - Automotive, Energy, Medical, Electronics, Aerospace, Transportation, Information Technology (IT)
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Type, End-User Industry, and Region:

Segmentation:

By Type:

• Hard
• Semi-hard
• Soft

By End-User Industry:

• Automotive
• Energy
• Medical
• Electronics
• Aerospace
• Transportation
• Information Technology (IT)

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Advanced Magnetic Materials Market include Hitachi Metals, Ltd., Master Magnetics, Neo, Ningbo Yunsheng Co., Ltd. Is, Shin-Etsu Chemical Co., Ltd., TDK Corporation, VACUUMSCHMELZE GmbH & Co. KG (VAC), Yantai Shougang Magnetic Materials Inc., Adams Magnetic Products Co., Advanced Technology & Materials Co., Ltd., Anhui Sinomag Technology Co., Ltd., Arnold Magnetic Technologies, Daido Steel Co., Ltd., Dexter Magnetic Technologies, and Electron Energy Corporation.

• In December 2023, Advanced Magnet Lab, Inc. unveiled their permanent magnet production plan for the United States. The goal of this programme is to enable high-volume commercial manufacture, with a focus on non-sintered permanent magnets that can be tailored to specific commercial and defence applications.
• In August 2022, HUDSON RESOURCES, INC. and Neo Performance Materials, Inc. signed a deal for the acquisition of an exploration licence for the Sarfartoq Carbonatite Complex in southwest Greenland.

• Hitachi Metals, Ltd.*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Master Magnetics
• Neo
• Ningbo Yunsheng Co., Ltd. Is
• Shin-Etsu Chemical Co., Ltd.
• TDK Corporation
• VACUUMSCHMELZE GmbH & Co. KG (VAC)
• Yantai Shougang Magnetic Materials Inc.
• Adams Magnetic Products Co.
• Advanced Technology & Materials Co., Ltd.
• Anhui Sinomag Technology Co., Ltd.
• Arnold Magnetic Technologies
• Daido Steel Co., Ltd.
• Dexter Magnetic Technologies
• Electron Energy Corporation

“*” marked represents similar segmentation in other categories in the respective section

1. Research Objective and Assumption
   • Research Objectives
   • Assumptions
   • Abbreviations
2. Market Preview
   • Report Description
     • Market Definition and Scope
   • Executive Summary
     • Market Snippet, By Type
     • Market Snippet, By End-User Industry
     • Market Snippet, By Region
   • Opportunity Map Analysis
3. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
   • Market Trends
   • Product Launch
   • Merger and Acquisitions
   • Impact Analysis
   • PEST Analysis
   • Porter’s Analysis

Market Segmentation, Type, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Hard
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Semi-hard
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Segment Trends
• Soft
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Segment Trends

Market Segmentation, End-User Industry, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Automotive
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Energy
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Medical
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Electronics
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Aerospace
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Transportation
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Information Technology (IT)
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • U.S
    • Canada
• Asia Pacific
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Europe
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Rest of Europe
• Latin America
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • Brazil
    • Mexico
    • Rest of Latin America
• Middle East and Africa
  • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By End-User Industry, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East and Africa

Competitive Landscape

• Heat Map Analysis
• Company Profiles
  • Hitachi Metals, Ltd.
  • Master Magnetics
  • Neo
  • Ningbo Yunsheng Co., Ltd. Is
  • Shin-Etsu Chemical Co., Ltd.
  • TDK Corporation
  • VACUUMSCHMELZE GmbH & Co. KG (VAC)
  • Yantai Shougang Magnetic Materials Inc.
  • Adams Magnetic Products Co.
  • Advanced Technology & Materials Co., Ltd.
  • Anhui Sinomag Technology Co., Ltd.
  • Arnold Magnetic Technologies
  • Daido Steel Co., Ltd.
  • Dexter Magnetic Technologies
  • Electron Energy Corporation

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