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 category of specifically created materials with unique and enhanced magnetic properties when compared to traditional magnetic materials. They are specifically designed to function well in certain applications. Unlike naturally occurring magnetic materials, advanced magnetic materials are designed with specific purposes in mind. Scientists have control over characteristics including permeability, coercivity, and remanence. Advanced magnetic materials considerably facilitate innovation across a wide range of fields. Because emerging nations are becoming more industrialised and urbanised, there is an increasing need for these commodities across various industries.