Rare Earth Magnets Market worth $30.01 billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Nov. 5, 2025 /PRNewswire/ -- The report "Rare Earth Magnets Market by Type (NdFeB, SmCo), Manufacturing Process (Sintered, Bonded), End-use Industry (Automotive, Consumer Electronics, Aerospace & Defense, Energy, Industrial, Other End-use Industries), and Region - Global Forecast To 2030", rare earth magnets market is projected to be USD 21.98 billion in 2025 and reach USD 30.01 billion by 2030, at a CAGR of 6.4% during the forecast period.

 

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The estimated growth in the rare earth magnets market during the coming years will primarily be fueled by their essential function in consumer electronics, robotics, wind turbines, and electric vehicles. Their potent magnetic characteristics and efficiency facilitate lightweight and compact designs. These qualities are crucial for energy-efficient technologies and renewable energy systems, as well as for cutting-edge automation.

The SmCo magnets segment accounted for a comparatively smaller share in 2024.

Samarium cobalt (SmCo) magnets, because of their thermal stability and ability to retain their magnetic strength, are highly used and are projected to remain the second most popular magnet type. Their high resistance to oxidation and corrosion makes them perfect for extreme conditions. Low temperature coefficient and high magnetic strength provide reliable performance. Their inherent strength and resistance to demagnetization are critical for high temperature, precision, defense & aerospace applications. While they typically cost more, they are often used due to their consistent performance in extreme environments.

By manufacturing process, the sintered segment accounted for a larger market share in 2024.

Of the various processes, the sintered one for rare earth magnets is the most widely used as it produces magnets with greater magnetic strength, better temperature stability, and enhanced microstructural uniformity compared to the bonded ones. By using this method, exact control over grain alignment can be achieved, thus leading to improved magnetic performance. Since it is the most efficient for high-performance applications such as electric vehicles, wind turbines, and industrial motors, sintering is the predominant selection globally.

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By end-use industry, the automotive segment accounted for the largest market share in 2024 .

The automotive end-use industry is estimated to be the largest end-use industry of rare earth magnets in 2024. The automotive industry is increasingly employing rare earth magnets due to the rapid transition to electric and hybrid vehicles. These magnets, mainly NdFeB, are the main source of high-performance electric motors. They offer higher power density, energy efficiency, and reduced size. Additionally, they enable lightweight designs, help to save energy, and make the implementation of features such as regenerative braking and power steering possible, which are, therefore, indispensable to contemporary mobility systems.

Europe accounted for the second-largest share of the rare earth magnets market in 2024

Because of its solid automotive and EV production, Europe is the second most significant market for rare earth magnets. This production is mainly a result of strict emission standards and sustainability objectives. Accordingly, the area's transition to renewable energy, primarily through the deployment of wind turbines, is increasing the need for superconductor magnets. The advanced aerospace and defense sectors are also major contributors to the consumption of magnets. Europe's emphasis on clean energy and the electric vehicle revolution is leading to a consistent use of magnets. The move toward local rare-earth supply chains and recycling measures is helping the market to expand and become less dependent on imports.

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Key players

The Rare Earth Magnets market major players such as Proterial, Ltd. (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), TDK Corporation (Japan), and VACUUMSCHMELZE (Germany). Partnerships, collaborations, and expansions are some of the major strategies adopted by these key players to enhance their positions in the rare earth magnets market.

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