From GlobeNewswire: 2025-04-21 08:44:00

The global permanent magnet market is experiencing significant growth due to increased demand in consumer electronics and electric vehicles. The market is expected to reach US$46.88 billion by 2031 with a CAGR of 8.5%. Asia Pacific leads the market, with North America and Europe following closely behind.

Permanent magnets are crucial in consumer electronics, enhancing efficiency in products like audio devices, computers, and mobile phones. They are also essential in electric vehicles, improving performance and efficiency in various components. The automotive industry, particularly in EVs, is a major driver of permanent magnet demand.

Key players in the permanent magnet market include Hitachi, TDK Corp, and Goudsmit Magnetics. Trends in the market include NdFeB magnets, electric vehicles, and rare earth-free permanent magnets. Recent headlines include Arnold Magnetic Technologies expanding to Thailand and Electron Energy Corporation joining Magnetic Holdings, LLC.

The growth in the global electronic industry is boosting the demand for permanent magnets, with the electronics manufacturing services market projected to reach US$1,145 billion by 2026. The rising popularity of IoT and connected devices is driving the need for these magnets, especially in thermal management systems for EVs.

The Insight Partners’ report offers valuable insights for stakeholders in navigating the evolving permanent magnet market landscape. With a focus on industries like Semiconductor and Electronics, Aerospace and Defense, and Automotive, the report provides actionable intelligence for manufacturers, distributors, and raw material suppliers. Contact Ankit Mathur for more information.



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