Magnetic Materials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Magnetic Materials Market is segmented by Type (Hard Magnetic Materials, Soft Magnetic Materials, Semi-Hard Magnetic Materials), End-User Industry (Automotive, Electronics, Power Generation, Industrial, and Other End-user Industries) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Magnetic Materials Industry Overview

magnetic materials market
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: < 7 %

Major Players

magnetic materials market size

*Disclaimer: Major Players sorted in no particular order


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Magnetic Materials Market Analysis

The market for magnetic materials is expected to grow at a CAGR of approximately 7% globally during the forecast period.

  • The rising usage of electronics around the globe and the growing need for electricity and power conversion are driving the market growth.
  • The high cost of rare earth materials and mining regulations are expected to hinder the market growth.

Magnetic Materials Industry Segments

The Magnetic Materials Market report include:

Hard Magnetic Materials
Soft Magnetic Materials
Semi-Hard Magnetic Materials
End-user Industry
Power Generation
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Magnetic Materials Market Trends

This section covers the major market trends shaping the Magnetic Materials Market according to our research experts:

Growing Demand from Power Generation Sector

  • Magnetic Materials have been increasingly used in the power generation sector. These materials are used in motors to generate power and transmission of electricity. Magnetic materials majorly finds their application in equipment such as motors, generators, transformers, actuators, amongst others.
  • Electric machines are made of hard magnetic materials and are used for one basic function, which is to provide magnetic flux. Hard magnetic materials have high coercivity in order to resist demagnetization from the electric circuit and thermal demagnetization under high operating temperatures.
  • Generators are majorly used in power generation plants to produce electricity. Magnetic materials in generators use electromagnetism mechanism and convert energy from mechanical to electrical energy.
  • According to the International Energy Agency (IEA), Asia-Pacific has become the largest producer and consumer of electricity in recent years due to increase in population and industries in this region.
  • Rising usage of electricity, growing population, and technological advancements in developing regions are driving the demand for power generators, which in turn is expected to drive the market for magnetic materials through the years to come.
 magnetic materials market share

Asia Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the global market owing to the highly developed power generation sector in China and India, coupled with the continuous investments done in the region to advance the electronics and automotive sector through the years.
  • Moreover, the growing environmental issues in the Asia-Pacific region have increased government regulations on combustion engine vehicles. This has increased the need for electric vehicles in the region, in turn supporting the consumption of magnetic materials in various applications.
  • According to the EV volumes, even though China witnessed a steep decline in sales of electric vehicles, China has the largest consumption share globally in electric vehicles currently.
  • According to the International Renewable Energy Agency (IRENA), governments are majorly investing in solar energy sources and it has the largest share compared to other renewable sources in Asia-Pacific.
  • Conversion technologies for wind and solar also require magnetic converters to convert solar or wind energy into electrical energy. Continuous growth in renewable energy sectors in Asia-Pacific is expected to drive the market for magnetic materials through the years to come.
magnetic materials industry

Magnetic Materials Market Competitor Analysis

The global magnetic materials market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Hitachi Metals Co. Ltd, Daido Steel, Arnold Magnetic Technologies, Lynas Corporation, and Shin-Etsu Chemical, amongst others.

Magnetic Materials Market Top Players

  1. Hitachi Metals Co. Ltd

  2. Daido Steel

  3. Arnold Magnetic Technologies

  4. Lynas Corporation

  5. Shin-Etsu Chemical

*Disclaimer: Major Players sorted in no particular order

Adams Magnetic Products, Arnold Magnetic Technologies, BGRIMM Magnetic Materials & Technology, Daido Steel, Dexter Magnetic Technologies, Electron Energy

Magnetic Materials Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Growing Need for Power Generation and Conversion

      2. 4.1.2 Increasing Applications in Electronics

    2. 4.2 Restraints

      1. 4.2.1 High Cost in Extracting Rare Earth Materials

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition


    1. 5.1 Type

      1. 5.1.1 Hard Magnetic Materials

      2. 5.1.2 Soft Magnetic Materials

      3. 5.1.3 Semi-Hard Magnetic Materials

    2. 5.2 End-user Industry

      1. 5.2.1 Automotive

      2. 5.2.2 Electronics

      3. 5.2.3 Power Generation

      4. 5.2.4 Industrial

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Adams Magnetic Products

      2. 6.4.2 Arnold Magnetic Technologies

      3. 6.4.3 BGRIMM Magnetic Materials & Technology

      4. 6.4.4 Daido Steel

      5. 6.4.5 Dexter Magnetic Technologies

      6. 6.4.6 Electron Energy

      7. 6.4.7 GKN Sinter Metals

      8. 6.4.8 Hitachi Metals Co. Ltd.

      9. 6.4.9 Lynas Corporation

      10. 6.4.10 Shin-Etsu Chemical

      11. 6.4.11 Steward Advanced Materials

      12. 6.4.12 Toshiba Materials Co. Ltd

    5. *List Not Exhaustive

    1. 7.1 Growing Demand from Automotive Industry

    2. 7.2 Other Opportunities

**Subject to Availability
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Magnetic Materials Market Research FAQs

The Magnetic Materials Market is studied from 2018 - 2028.

The Magnetic Materials Market is growing at a CAGR of <7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

Hitachi Metals Co. Ltd , Daido Steel, Arnold Magnetic Technologies, Lynas Corporation, Shin-Etsu Chemical are the major companies operating in Magnetic Materials Market .

Magnetic Materials Industry Reports

In-depth industry statistics and market share insights of the Magnetic Materials Market sector for 2020, 2021, and 2022. The Magnetic Materials Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Magnetic Materials Market report PDF.

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