The Magnetic Materials Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Magnetic Materials Market?
The global market of magnetic materials has experienced significant expansion recently. It is forecasted to increase from $35.17 billion in 2024 to $37.11 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Magnetic Materials Industry?
The Magnetic Materials Global Market Report 2024 predicts that by 2029, the market size will be $49.54 billion, growing at a compound annual growth rate (CAGR) of 7.5%.
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What are the Key Growth Drivers Fueling the Magnetic Materials Market?
The key drivers in the magnetic materials market are:
• Rising demands in electric vehicle industry
• The trend towards miniaturization
• The necessity for energy storage solutions
• The emergence of magnetocaloric cooling systems and increased use of automation and robotics.
Global Market Segmentation: Identifying Major Magnetic Materials Industry Segments
The magnetic materials market covered in this report is segmented –
1) By Type: Hard Magnetic Materials, Soft Magnetic Materials, Semi-Hard Magnetic Materials
2) By Raw Materials: Neodymium, Ferrite, Alnico, Samarium Cobalt, Bonded NdFeB
3) By Orientation: Diamagnetic, Paramagnetic, Ferromagnetic, Anti-Ferromagnetic
4) By Application: Transformers, Motors, Inductors, Generators, Other Applications
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What are the Emerging Trends Shaping the Future of the Magnetic Materials Market?
The key trends in the magnetic materials market are:
• The electric vehicle revolution and miniaturization trends are expected to shape the future of the magnetic materials market.
• Energy storage solutions, emerging magnetocaloric cooling, and automation and robotics are potential driving forces.
• 5G technology deployment, magnetic levitation technologies, and magnetic recording technology are emerging trends.
• The use of magnetic materials in aerospace and the integration of IoT are anticipated future trends.
Who Are the Top Competitors & Leading Players in the Magnetic Materials Market?
The major players in the magnetic materials market are:
• TDK Corporation
• Daido Steel Co
Regional Dominance: Which Area Leads the Global Magnetic Materials Market?
Asia-Pacific was the largest region in the magnetic materials market in 2024
