Advanced Magnetic Materials Market Worth $48.91 Billion By 2032 | CAGR: 9.3%

Advanced Magnetic Materials Market Size Worth $48.91 Billion By 2032 | CAGR: 9.3%


The global Advanced Magnetic Materials market size is expected to reach USD 48.91 billion by 2032, according to a new study by Polaris Market Research. The report “Advanced Magnetic Materials Market Share, Size, Trends, Industry Analysis Report, By Type (Soft Magnetic Materials, Permanent Magnetic Materials, Semi-hard Magnetic Materials, Others); By End Use Industry; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.  

The surge in demand within the electronics sector serves as a major catalyst for the advanced magnetic materials market. These materials, like rare earth magnets and magnetic nanomaterials, are integral components in various electronic devices such as electric motors, sensors, and data storage systems. As the electronics industry advances, there's a growing necessity for magnetic materials with enhanced properties including higher magnetic strength and improved thermal stability. Additionally, the increasing consumer demand for electronic gadgets, automotive electronics, and telecommunications equipment further propels market growth. Moreover, ongoing advancements in magnetic materials technology, encompassing novel compositions and manufacturing techniques, are fostering their adoption in emerging sectors like renewable energy and medical devices, thereby contributing to the market expansion.

The advanced magnetic materials market is also experiencing growth due to miniaturization trends and the expanding consumer electronics sector. As consumer demand for smaller yet more powerful electronic devices rises, there's a growing need for advanced magnetic materials enabling miniaturization without compromising performance. These materials are vital in developing compact and efficient electronic components such as microchips, sensors, and actuators. Additionally, the surge in wearable devices, smartphones, and tablets drives demand for advanced magnetic materials, allowing for smaller and more energy-efficient components.

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Industries are increasingly prioritizing technologies that minimize environmental impact and energy consumption, driving demand for magnetic materials like rare earth magnets and magnetic nanomaterials. These materials are crucial in applications such as electric vehicles, renewable energy systems, and energy-efficient appliances, where they enhance performance and reduce energy losses. Furthermore, advancements in magnetic materials technology, including innovative compositions and manufacturing processes, are accelerating their adoption in energy-efficient technologies. As the focus on sustainability intensifies, the demand for advanced magnetic materials is expected to rise significantly, fueling market growth.

The advanced magnetic materials are experiencing a surge in demand from emerging applications in healthcare and biotechnology. These sectors increasingly rely on advanced magnetic materials for applications such as magnetic resonance imaging (MRI), drug delivery systems, and magnetic hyperthermia for cancer treatment. These materials enable the development of high-performance magnets and magnetic nanoparticles with enhanced biocompatibility and stability. Their integration into diagnostic and therapeutic devices enhances sensitivity, accuracy, and efficiency, fueling innovation in healthcare and biotechnology.

Advanced Magnetic Materials Market Report Highlights

  • In 2023, the permanent magnetic materials segment held significant revenue share owing to widespread applications, durability & longevity, and efficiency in energy conversion.
  • In 2023, the automotive segment held significant revenue share owing to increasing adoption of electric vehicles, lightweighting initiatives, and rising demand for ADAS technologies.
  • In 2023, Asia-Pacific region accounted for a significant market share due to increasing consumer electronics sector, established automotive market, and emerging healthcare & biotechnology industries.
  • The market is highly competitive owing to the existence of market players with a global presence, including Advanced Technology & Materials Co., Ltd., Anhui Sinomag Technology Co., Ltd., Arnold Magnetic Technologies, Daido Steel Co., Ltd., Hitachi Metals, Ltd., Master Magnetics, Neo, and Ningbo Yunsheng Co., Ltd. Is among others.

Polaris Market Research has segmented the Advanced Magnetic Materials market report based on type, end use industry, and region:

Advanced Magnetic Materials, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Soft Magnetic Materials
  • Permanent Magnetic Materials
  • Semi-hard Magnetic Materials
  • Others

Advanced Magnetic Materials, End Use Industry Outlook (Revenue - USD Billion, 2019 - 2032)

  • Healthcare
  • Automotive
  • Energy and Power
  • Industrial
  • Electronics
  • Others

Advanced Magnetic Materials, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • France
  • Germany
  • UK
  • Italy
  • Netherlands
  • Spain
  • Russia
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • India
  • Malaysia
  • Indonesia
  • South Korea
  • Australia
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Advanced Magnetic Materials Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 24.02 billion

Revenue forecast in 2032

USD 48.91 billion

CAGR

9.3% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

  • By Type
  • By End Use Industry
  • By Region

Regional scope

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Competitive Landscape

  • Advanced Magnetic Materials Market Share Analysis (2023)
  • Company Profiles/Industry participants profiling includes company overview, financial information, product/service benchmarking, and recent developments

Report Format

  • PDF + Excel

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

For Specific Research Requirements

Request for Customized Report