Press Release
Permanent Magnet Market to Surpass USD 10.5 Billion by 2035
Pune, India – January 12, 2026 – Global Data Route Analytics announces the release of its comprehensive research report on the Global Permanent Magnet Market, which is projected to grow significantly from USD 7.29 billion in 2024 to over USD 10.52 billion by 2035, expanding at a robust CAGR of 7.4% during 2025–2035.
Driven by the rising demand for efficient energy solutions, electric vehicles, and advanced electronic systems, the permanent magnet industry is witnessing transformative growth. These materials are becoming indispensable across a broad range of industries—from automotive and electronics to renewable energy and healthcare, supporting energy-efficient motor technologies, wind turbines, and magnetic medical devices.
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According to the report, Neodymium Iron Boron (NdFeB) magnets dominate the market, while Ferrite, Samarium Cobalt (SmCo), and Alnico continue to serve cost-sensitive and temperature-stable applications. Among applications, automotive and electronics lead the segment, with renewable energy applications—especially wind turbine technology—emerging as key future drivers.
The end-use industry analysis shows growing adoption in consumer electronics, industrial manufacturing, and healthcare, alongside rapid expansion in EV manufacturing. Strong regional demand from Asia-Pacific countries, particularly China, India, and Japan, reinforces the region’s leadership position. North America and Europe continue to adopt magnetic technologies for advanced medical and automotive innovation.
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The report includes detailed segmentation by magnet type, application, and end-use industry, alongside deep regional insights covering:
- North America (U.S., Canada, Mexico),
- Europe (Germany, UK, France, etc.),
- Asia-Pacific (China, Japan, India, South Korea),
- Latin America, and
- Middle East & Africa.
Key industry players featured include:
Hitachi Metals, Shin-Etsu Chemical, TDK Corporation, Daido Steel, Vacuumschmelze GmbH, Ningbo Yunsheng, GMZ Magnetic Materials, Arnold Magnetic Technologies, Electron Energy Corporation, and Shinwa Magnetic Japan.
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Global Data Route Analytics anticipates that the permanent magnet market will play a pivotal role in decarbonization goals, EV acceleration, and miniaturization of devices—making it a core component of future clean technologies and smart systems.
About Global Data Route Analytics
Global Data Route Analytics is a market research and consulting firm that provides businesses with data analysis, market forecasts, and tailored reports across various industries. The company uses advanced data analysis techniques, proprietary data, and an expert team to help clients understand market trends, make informed decisions, and develop strategies. They focus on delivering customized solutions, competitive intelligence, and growth strategies to help businesses succeed in their respective markets.
Media Contact:
Srushti Tungar
Global Data Route Analytics