Rare Earth Magnets Market worth $30.01 billion by 2030 at 6.4%, says MarketsandMarkets™

Delray Beach, FL, Dec. 02, 2025 (GLOBE NEWSWIRE) -- In terms of value, the Rare Earth Magnets Market size is projected to be USD 21.98 billion in 2025 and reach USD 30.01 billion by 2030, at a CAGR of 6.4%, as per the recent study by MarketsandMarkets™.

Rare earth magnets are in increasing demand because they play a vital role in consumer electronics, robotics, wind turbines, and electric vehicles. Their strong magnetic properties and efficiency support lightweight, compact designs, which are important for energy-efficient technologies, renewable energy systems, and advanced automation.

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List of Key Players in Rare Earth Magnets Market:

1. Proterial, Ltd. (Japan)
2. Shin-Etsu Chemical Co., Ltd. (Japan)
3. TDK Corporation (Japan)
4. VACUUMSCHMELZE (Germany)

Drivers, Opportunities and Challenges in Rare Earth Magnets Market:

1. Drivers: Electric mobility growth.
2. Restraint: Raw material price volatility.
3. Opportunity: Diversification in rare earth magnets production.
4. Challenge: Scaling, infrastructure, and capital costs.

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Key Findings of the Study:

1. The SmCo magnets segment accounted for a comparatively smaller share in 2024.
2. By manufacturing process, the sintered segment accounted for a larger market share in 2024.
3. By end-use industry, the automotive segment accounted for the largest market share in 2024.
4. Europe accounted for the second-largest share of the rare earth magnets market in 2024

The rare earth magnets market is studied in five regions: Asia Pacific, Europe, North America, the Middle East & Africa, and South America. Asia Pacific is the leading region in the rare earth magnets market; demand for rare earth magnets in the region is increasing. This is due to the rapid growth in electric vehicles, renewable energy projects, consumer electronics, and industrial automation. Countries such as China, Japan, South Korea, and India are boosting EV production, wind power, and robotics. This drives higher use of NdFeB and SmCo magnets.

As rare earth magnets are necessary for electronics, wind turbines, electric cars, and defense systems, there is a growing demand for them in the US. This demand has increased due to the shift toward renewable energy and domestic production, which has been fueled by programs like the Inflation Reduction Act. Additionally, initiatives to reduce reliance on imports from China encourage investments in recycling and domestic magnet manufacturing.

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The rare earth magnets market is segmented by type, including NdFeB and SmCo magnets. Neodymium-iron-boron (NdFeB) magnets are increasingly in demand because of their strong magnetic strength and effectiveness in high-performance applications. The market is growing because these magnets are used in consumer electronics, robots, wind turbines, and electric cars. Strong, lightweight magnets like NdFeB are becoming important in motors and generators due to the global move toward clean energy and electrification.

The rare earth magnets market is segmented by end-use industry, which includes automotive, consumer electronics, aerospace & defense, industrial, energy, and other end-use industries. The use of rare earth magnets in the automotive industry is growing because of the quick shift to electric and hybrid vehicles. These magnets, especially NdFeB types, are key for high-performance electric motors. They provide better power density, efficiency, and size. They allow for lighter designs, improve energy efficiency, and support features like regenerative braking and power steering, making them crucial for modern mobility systems.

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