GITNUXREPORT 2026

Magnetic Materials Industry Statistics

The magnetic materials industry is rapidly expanding, especially for electric vehicles.

Sarah Mitchell

Sarah Mitchell

Senior Researcher specializing in consumer behavior and market trends.

First published: Feb 13, 2026

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Key Statistics

Statistic 1

EV motors consumed 45% of NdFeB output, 105,000 tons in 2023.

Statistic 2

Wind turbines used 28,000 tons of permanent magnets globally in 2023.

Statistic 3

Consumer electronics accounted for 22% of ferrite magnet demand in 2023.

Statistic 4

MRI machines required 1,200 tons of superconducting magnets in 2023.

Statistic 5

Automotive industry consumed USD 3.2 billion in magnetic materials in 2023.

Statistic 6

Hard disk drives used 8,000 tons of NdFeB magnets in data storage 2023.

Statistic 7

Speakers and headphones market demanded 150,000 tons of ferrite magnets.

Statistic 8

Industrial motors and generators: 35% share of soft magnetic materials.

Statistic 9

Renewable energy sector growth led to 18% increase in magnet use for direct-drive turbines.

Statistic 10

Aerospace actuators required high-temp SmCo magnets, 450 tons annually.

Statistic 11

Medical devices like pacemakers used 200 tons of biocompatible magnets in 2023.

Statistic 12

Power electronics inverters in EVs: 12,000 tons silicon steel sheets.

Statistic 13

Magnetic sensors in smartphones: 1.2 billion units with ferrite cores in 2023.

Statistic 14

HVAC systems utilized 95,000 tons of ferrite and soft magnets globally.

Statistic 15

Defense applications consumed 5% of high-performance magnets, USD 800 million.

Statistic 16

Robotic arms in automation: 3,500 tons NdFeB per year.

Statistic 17

Magnetic bearings in high-speed machinery: 1,500 tons advanced materials.

Statistic 18

Data center cooling systems used amorphous cores, reducing energy 15%.

Statistic 19

Wearable tech magnets: 500 million neodymium units shipped 2023.

Statistic 20

Elevators and escalators: 25,000 tons permanent magnets for traction.

Statistic 21

Satellite attitude control systems: 120 tons SmCo magnets.

Statistic 22

Magnetic refrigeration prototypes used 50 tons gadolinium in R&D 2023.

Statistic 23

Wireless charging pads: ferrite sheets in 400 million devices.

Statistic 24

AR/VR headsets demanded high-precision magnets, 2 million units.

Statistic 25

Oil & gas exploration tools: 800 tons AlNiCo magnets.

Statistic 26

NdFeB magnets with grain boundary diffusion achieved 50 MGOe coercivity in 2023 breakthroughs.

Statistic 27

Grain-oriented electrical steel losses reduced to 0.8 W/kg at 1.7T, 50Hz via new annealing process.

Statistic 28

Hot-deformed NdFeB magnets reached remanence of 1.45 T without heavy rare earths.

Statistic 29

Amorphous alloys with 0.7 W/kg core loss at 1.5T developed for EV inverters.

Statistic 30

Cerium-substituted NdFeB magnets cut costs 20% while maintaining 45 MGOe.

Statistic 31

Nanocrystalline cores achieved permeability of 100,000 for high-frequency transformers.

Statistic 32

Additive manufacturing of SmCo magnets yielded 30% density improvement.

Statistic 33

Magnetic skyrmions stabilized at room temp for next-gen memory, density 10^12/inch^2.

Statistic 34

Hybrid ferrite-NdFeB composites boosted torque density 15% in motors.

Statistic 35

Low-temperature sintered ferrites reached 4500 Gs remanence.

Statistic 36

AI-optimized magnet design reduced rare earth content by 25% in EV motors.

Statistic 37

Spintronics GMR sensors sensitivity improved to 5%/Oe.

Statistic 38

Recycled magnet powder purity >99.5% via hydrogen decrepitation.

Statistic 39

Halbach array optimization software cut material use 18% for MRI.

Statistic 40

Perovskite-based magnetocaloric materials DeltaT=5K at 2T field.

Statistic 41

3D printed flexible magnets with 40% elongation retention.

Statistic 42

Quantum dot enhanced magneto-optical storage density 100 TB/disc.

Statistic 43

Coercivity of 2.0 T achieved in FePt nanoparticles for heat-assisted recording.

Statistic 44

Soft magnetic composites torque density up 22% via resin coating.

Statistic 45

Dysprosium diffusion process raised Hcj to 30 kOe in grain boundaries.

Statistic 46

Bio-inspired magnetotactic bacteria navigation sensors sensitivity 0.1 nT.

Statistic 47

Room-temp multiferroics coupling coefficient 10^-8 m/V for low-power logic.

Statistic 48

Laser-textured silicon steel reduced hysteresis loss 25%.

Statistic 49

Magnet-free electric motor prototypes using reluctance tech cut magnet use 100%.

Statistic 50

Graphene-coated NdFeB corrosion resistance improved 5x.

Statistic 51

Topological insulators for dissipationless spin currents in logic gates.

Statistic 52

High-entropy alloys as soft magnets with mu=5000, loss 0.5 W/kg.

Statistic 53

Phonon magnon coupling for terahertz emitters efficiency 20%.

Statistic 54

The global magnetic materials market size was valued at USD 12.4 billion in 2022 and is projected to reach USD 22.1 billion by 2030, exhibiting a CAGR of 7.5% during the forecast period.

Statistic 55

Permanent magnets accounted for 62% of the total magnetic materials market revenue in 2023, driven by demand in electric vehicles.

Statistic 56

The ferrite segment dominated the magnetic materials market with a share of 38.5% in 2022 due to cost-effectiveness.

Statistic 57

Neodymium-iron-boron (NdFeB) magnets market grew at a CAGR of 8.2% from 2018 to 2023, reaching USD 8.9 billion.

Statistic 58

Soft magnetic materials market is expected to grow from USD 11.2 billion in 2023 to USD 16.8 billion by 2028 at a CAGR of 8.4%.

Statistic 59

Asia-Pacific region held 55% share of the global magnetic materials market in 2023, valued at USD 7.8 billion.

Statistic 60

Electric vehicle applications drove 25% YoY growth in permanent magnet demand in 2023.

Statistic 61

The magnetic materials market in North America is projected to grow at 6.8% CAGR from 2024-2030.

Statistic 62

Samarium-cobalt magnets segment expected to reach USD 1.2 billion by 2027 at 5.5% CAGR.

Statistic 63

Alnico magnets market valued at USD 450 million in 2023, growing at 4.2% CAGR.

Statistic 64

Global rare earth permanent magnets market size was USD 15.6 billion in 2022, projected to USD 25.4 billion by 2030.

Statistic 65

Bonded magnets market to grow from USD 2.1 billion in 2023 to USD 3.5 billion by 2030 at 7.6% CAGR.

Statistic 66

Magnetic powder market valued at USD 1.8 billion in 2023, expected CAGR of 6.9% through 2032.

Statistic 67

Hard magnetic materials segment held 45% market share in 2023.

Statistic 68

The overall magnetic materials industry saw a 9.2% revenue increase in Q4 2023.

Statistic 69

Europe's magnetic materials market projected to reach USD 3.2 billion by 2028 at 5.9% CAGR.

Statistic 70

Sintered NdFeB magnets market size was USD 7.2 billion in 2023.

Statistic 71

Injection molded magnets expected to grow at 7.1% CAGR to USD 1.1 billion by 2030.

Statistic 72

Magnetic alloys market valued at USD 4.5 billion in 2022, CAGR 7.3% forecast.

Statistic 73

Flexible magnets segment to reach USD 2.8 billion by 2027.

Statistic 74

Global magnetic refrigerant materials market size USD 1.9 billion in 2023, 12.4% CAGR.

Statistic 75

Amorphous soft magnetic materials market to grow from USD 4.2 billion to USD 7.1 billion by 2030.

Statistic 76

Ceramic magnets market valued at USD 3.6 billion in 2023.

Statistic 77

Rare earth magnets production value reached USD 14.3 billion in 2023.

Statistic 78

Magnetic composites market projected CAGR 8.7% to USD 2.4 billion by 2032.

Statistic 79

Nanocrystalline soft magnets market size USD 1.5 billion in 2023.

Statistic 80

High-performance magnets market to hit USD 10.2 billion by 2029 at 7.8% CAGR.

Statistic 81

Magnetic shielding materials market valued at USD 1.2 billion in 2022.

Statistic 82

Electromagnets market size USD 5.6 billion in 2023, growing to USD 8.9 billion by 2030.

Statistic 83

Superconducting magnets market projected to USD 4.8 billion by 2028.

Statistic 84

China produced 78% of global NdFeB magnets in 2023, totaling 230,000 tons.

Statistic 85

Global rare earth oxide production for magnets reached 240,000 tons in 2023.

Statistic 86

NdFeB magnet production capacity in Asia was 350,000 tons per year in 2023.

Statistic 87

Ferrite magnet global production volume hit 1.2 million tons in 2022.

Statistic 88

Japan exported 15,000 tons of SmCo magnets in 2023.

Statistic 89

US domestic NdFeB production was only 1,200 tons in 2023, 0.5% of global.

Statistic 90

Recycling rate of rare earth magnets was 12% globally in 2023.

Statistic 91

China's rare earth mining quota for 2023 was 210,000 tons REO equivalent.

Statistic 92

Global silicon steel production for transformers: 2.8 million tons in 2023.

Statistic 93

Bonded magnet production increased 15% YoY to 85,000 tons in 2023.

Statistic 94

Australia ramped up NdPr oxide production to 8,000 tons in 2023.

Statistic 95

Vietnam's ferrite production capacity reached 150,000 tons annually in 2023.

Statistic 96

Global supply of dysprosium oxide for magnets: 1,500 tons in 2023.

Statistic 97

Magnetic powder production volume: 120,000 tons worldwide in 2022.

Statistic 98

EU imposed tariffs on Chinese NdFeB magnets, reducing imports by 20% in 2023.

Statistic 99

India's rare earth magnet production started at 500 tons pilot in 2023.

Statistic 100

Terbium supply chain bottleneck limited production to 450 tons globally in 2023.

Statistic 101

Amorphous alloy strip production: 450,000 tons in China alone 2023.

Statistic 102

Global capacity utilization for NdFeB sintering plants averaged 85% in 2023.

Statistic 103

Myanmar supplied 25% of heavy rare earths for magnets in 2023, ~800 tons.

Statistic 104

Nano-crystalline alloy production volume reached 25,000 tons in 2023.

Statistic 105

US DOE funded 2 new magnet production facilities targeting 5,000 tons/year by 2025.

Statistic 106

Ferrite raw material (strontium carbonate) production: 900,000 tons in 2023.

Statistic 107

Supply chain disruption caused 10% shortage in SmCo magnets in Q3 2023.

Statistic 108

Global magnetic material scrap recycling: 45,000 tons processed in 2023.

Statistic 109

Brazil's niobium production for AlNiCo: 12,000 tons REO equivalent in 2023.

Statistic 110

Asia-Pacific magnetic materials market share 55.3% in 2023, led by China.

Statistic 111

China accounted for 85% of global NdFeB production value USD 12.1 billion in 2023.

Statistic 112

US imported 14,500 tons of permanent magnets worth USD 1.2 billion in 2023.

Statistic 113

Europe’s magnet market grew 6.2% in 2023, driven by wind energy.

Statistic 114

Japan's rare earth magnet exports fell 5% to USD 2.8 billion in 2023.

Statistic 115

India's magnetic materials consumption rose 12% to USD 450 million.

Statistic 116

South Korea produced 18,000 tons NdFeB, 8% of global in 2023.

Statistic 117

Australia's rare earth magnet feedstock exports USD 300 million in 2023.

Statistic 118

Germany's electrical steel output 450,000 tons, 16% of EU total.

Statistic 119

Brazil's ferrite magnet production 120,000 tons, export-focused.

Statistic 120

Vietnam magnet manufacturing FDI USD 500 million in 2023.

Statistic 121

Middle East magnetic materials import growth 9% due to oil tech.

Statistic 122

North America EV magnet demand projected USD 1.5 billion by 2025.

Statistic 123

China's domestic magnet prices rose 15% in 2023 to RMB 450/kg NdFeB.

Statistic 124

EU anti-dumping duties on China magnets averaged 37.3% in 2023.

Statistic 125

Russia's ferrite production 80,000 tons, supplying CIS markets.

Statistic 126

Mexico's auto sector imported USD 200 million magnets in 2023.

Statistic 127

Southeast Asia magnet hub capacity added 50,000 tons in 2023.

Statistic 128

UK's offshore wind drove magnet imports to GBP 150 million.

Statistic 129

Turkey's AlNiCo production 2,500 tons for export.

Statistic 130

Africa rare earth exploration investments USD 1.2 billion, magnet focus.

Statistic 131

Canada's MP Materials output 1,000 tons NdPr oxide.

Statistic 132

Taiwan semiconductor magnets consumption USD 180 million.

Statistic 133

Saudi Arabia Aramco magnetic tools procurement USD 100 million.

Statistic 134

Poland's green steel with advanced magnets investment PLN 2 billion.

Sources
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From powering the motors in your electric car to keeping data securely on your smartphone's hard drive, the magnetic materials industry is now projected to surge from a $12.4 billion market in 2022 to an astonishing $22.1 billion by 2030, fueled by relentless global demand.

Key Takeaways

  • The global magnetic materials market size was valued at USD 12.4 billion in 2022 and is projected to reach USD 22.1 billion by 2030, exhibiting a CAGR of 7.5% during the forecast period.
  • Permanent magnets accounted for 62% of the total magnetic materials market revenue in 2023, driven by demand in electric vehicles.
  • The ferrite segment dominated the magnetic materials market with a share of 38.5% in 2022 due to cost-effectiveness.
  • China produced 78% of global NdFeB magnets in 2023, totaling 230,000 tons.
  • Global rare earth oxide production for magnets reached 240,000 tons in 2023.
  • NdFeB magnet production capacity in Asia was 350,000 tons per year in 2023.
  • EV motors consumed 45% of NdFeB output, 105,000 tons in 2023.
  • Wind turbines used 28,000 tons of permanent magnets globally in 2023.
  • Consumer electronics accounted for 22% of ferrite magnet demand in 2023.
  • NdFeB magnets with grain boundary diffusion achieved 50 MGOe coercivity in 2023 breakthroughs.
  • Grain-oriented electrical steel losses reduced to 0.8 W/kg at 1.7T, 50Hz via new annealing process.
  • Hot-deformed NdFeB magnets reached remanence of 1.45 T without heavy rare earths.
  • Asia-Pacific magnetic materials market share 55.3% in 2023, led by China.
  • China accounted for 85% of global NdFeB production value USD 12.1 billion in 2023.
  • US imported 14,500 tons of permanent magnets worth USD 1.2 billion in 2023.

The magnetic materials industry is rapidly expanding, especially for electric vehicles.

Applications and End-Use

  • EV motors consumed 45% of NdFeB output, 105,000 tons in 2023.
  • Wind turbines used 28,000 tons of permanent magnets globally in 2023.
  • Consumer electronics accounted for 22% of ferrite magnet demand in 2023.
  • MRI machines required 1,200 tons of superconducting magnets in 2023.
  • Automotive industry consumed USD 3.2 billion in magnetic materials in 2023.
  • Hard disk drives used 8,000 tons of NdFeB magnets in data storage 2023.
  • Speakers and headphones market demanded 150,000 tons of ferrite magnets.
  • Industrial motors and generators: 35% share of soft magnetic materials.
  • Renewable energy sector growth led to 18% increase in magnet use for direct-drive turbines.
  • Aerospace actuators required high-temp SmCo magnets, 450 tons annually.
  • Medical devices like pacemakers used 200 tons of biocompatible magnets in 2023.
  • Power electronics inverters in EVs: 12,000 tons silicon steel sheets.
  • Magnetic sensors in smartphones: 1.2 billion units with ferrite cores in 2023.
  • HVAC systems utilized 95,000 tons of ferrite and soft magnets globally.
  • Defense applications consumed 5% of high-performance magnets, USD 800 million.
  • Robotic arms in automation: 3,500 tons NdFeB per year.
  • Magnetic bearings in high-speed machinery: 1,500 tons advanced materials.
  • Data center cooling systems used amorphous cores, reducing energy 15%.
  • Wearable tech magnets: 500 million neodymium units shipped 2023.
  • Elevators and escalators: 25,000 tons permanent magnets for traction.
  • Satellite attitude control systems: 120 tons SmCo magnets.
  • Magnetic refrigeration prototypes used 50 tons gadolinium in R&D 2023.
  • Wireless charging pads: ferrite sheets in 400 million devices.
  • AR/VR headsets demanded high-precision magnets, 2 million units.
  • Oil & gas exploration tools: 800 tons AlNiCo magnets.

Applications and End-Use Interpretation

The numbers are in, and while our headphones hum with ferrite and our EVs purr with neodymium, the true north of the magnetic materials industry is now unmistakably pointed toward a future powered by renewable energy and precision technology.

Innovation and Technology

  • NdFeB magnets with grain boundary diffusion achieved 50 MGOe coercivity in 2023 breakthroughs.
  • Grain-oriented electrical steel losses reduced to 0.8 W/kg at 1.7T, 50Hz via new annealing process.
  • Hot-deformed NdFeB magnets reached remanence of 1.45 T without heavy rare earths.
  • Amorphous alloys with 0.7 W/kg core loss at 1.5T developed for EV inverters.
  • Cerium-substituted NdFeB magnets cut costs 20% while maintaining 45 MGOe.
  • Nanocrystalline cores achieved permeability of 100,000 for high-frequency transformers.
  • Additive manufacturing of SmCo magnets yielded 30% density improvement.
  • Magnetic skyrmions stabilized at room temp for next-gen memory, density 10^12/inch^2.
  • Hybrid ferrite-NdFeB composites boosted torque density 15% in motors.
  • Low-temperature sintered ferrites reached 4500 Gs remanence.
  • AI-optimized magnet design reduced rare earth content by 25% in EV motors.
  • Spintronics GMR sensors sensitivity improved to 5%/Oe.
  • Recycled magnet powder purity >99.5% via hydrogen decrepitation.
  • Halbach array optimization software cut material use 18% for MRI.
  • Perovskite-based magnetocaloric materials DeltaT=5K at 2T field.
  • 3D printed flexible magnets with 40% elongation retention.
  • Quantum dot enhanced magneto-optical storage density 100 TB/disc.
  • Coercivity of 2.0 T achieved in FePt nanoparticles for heat-assisted recording.
  • Soft magnetic composites torque density up 22% via resin coating.
  • Dysprosium diffusion process raised Hcj to 30 kOe in grain boundaries.
  • Bio-inspired magnetotactic bacteria navigation sensors sensitivity 0.1 nT.
  • Room-temp multiferroics coupling coefficient 10^-8 m/V for low-power logic.
  • Laser-textured silicon steel reduced hysteresis loss 25%.
  • Magnet-free electric motor prototypes using reluctance tech cut magnet use 100%.
  • Graphene-coated NdFeB corrosion resistance improved 5x.
  • Topological insulators for dissipationless spin currents in logic gates.
  • High-entropy alloys as soft magnets with mu=5000, loss 0.5 W/kg.
  • Phonon magnon coupling for terahertz emitters efficiency 20%.

Innovation and Technology Interpretation

While humanity’s ancient fascination with lodestones has evolved into a relentless, AI-assisted quest for perfection—squeezing every last drop of performance from atoms while ruthlessly cutting cost, waste, and energy—the magnetic materials industry in 2023 proved it can have its cake and eat it too, making motors leaner, data denser, and our future a bit less reliant on the planet's scarcer elements.

Market Size and Growth

  • The global magnetic materials market size was valued at USD 12.4 billion in 2022 and is projected to reach USD 22.1 billion by 2030, exhibiting a CAGR of 7.5% during the forecast period.
  • Permanent magnets accounted for 62% of the total magnetic materials market revenue in 2023, driven by demand in electric vehicles.
  • The ferrite segment dominated the magnetic materials market with a share of 38.5% in 2022 due to cost-effectiveness.
  • Neodymium-iron-boron (NdFeB) magnets market grew at a CAGR of 8.2% from 2018 to 2023, reaching USD 8.9 billion.
  • Soft magnetic materials market is expected to grow from USD 11.2 billion in 2023 to USD 16.8 billion by 2028 at a CAGR of 8.4%.
  • Asia-Pacific region held 55% share of the global magnetic materials market in 2023, valued at USD 7.8 billion.
  • Electric vehicle applications drove 25% YoY growth in permanent magnet demand in 2023.
  • The magnetic materials market in North America is projected to grow at 6.8% CAGR from 2024-2030.
  • Samarium-cobalt magnets segment expected to reach USD 1.2 billion by 2027 at 5.5% CAGR.
  • Alnico magnets market valued at USD 450 million in 2023, growing at 4.2% CAGR.
  • Global rare earth permanent magnets market size was USD 15.6 billion in 2022, projected to USD 25.4 billion by 2030.
  • Bonded magnets market to grow from USD 2.1 billion in 2023 to USD 3.5 billion by 2030 at 7.6% CAGR.
  • Magnetic powder market valued at USD 1.8 billion in 2023, expected CAGR of 6.9% through 2032.
  • Hard magnetic materials segment held 45% market share in 2023.
  • The overall magnetic materials industry saw a 9.2% revenue increase in Q4 2023.
  • Europe's magnetic materials market projected to reach USD 3.2 billion by 2028 at 5.9% CAGR.
  • Sintered NdFeB magnets market size was USD 7.2 billion in 2023.
  • Injection molded magnets expected to grow at 7.1% CAGR to USD 1.1 billion by 2030.
  • Magnetic alloys market valued at USD 4.5 billion in 2022, CAGR 7.3% forecast.
  • Flexible magnets segment to reach USD 2.8 billion by 2027.
  • Global magnetic refrigerant materials market size USD 1.9 billion in 2023, 12.4% CAGR.
  • Amorphous soft magnetic materials market to grow from USD 4.2 billion to USD 7.1 billion by 2030.
  • Ceramic magnets market valued at USD 3.6 billion in 2023.
  • Rare earth magnets production value reached USD 14.3 billion in 2023.
  • Magnetic composites market projected CAGR 8.7% to USD 2.4 billion by 2032.
  • Nanocrystalline soft magnets market size USD 1.5 billion in 2023.
  • High-performance magnets market to hit USD 10.2 billion by 2029 at 7.8% CAGR.
  • Magnetic shielding materials market valued at USD 1.2 billion in 2022.
  • Electromagnets market size USD 5.6 billion in 2023, growing to USD 8.9 billion by 2030.
  • Superconducting magnets market projected to USD 4.8 billion by 2028.

Market Size and Growth Interpretation

While the electric vehicle revolution is busy pulling the entire magnetic materials industry toward a powerful future, it's clear that not all magnets are created equal, with cost-effective ferrites holding their ground against the high-performance, rare-earth magnets driving the most impressive growth.

Production and Supply Chain

  • China produced 78% of global NdFeB magnets in 2023, totaling 230,000 tons.
  • Global rare earth oxide production for magnets reached 240,000 tons in 2023.
  • NdFeB magnet production capacity in Asia was 350,000 tons per year in 2023.
  • Ferrite magnet global production volume hit 1.2 million tons in 2022.
  • Japan exported 15,000 tons of SmCo magnets in 2023.
  • US domestic NdFeB production was only 1,200 tons in 2023, 0.5% of global.
  • Recycling rate of rare earth magnets was 12% globally in 2023.
  • China's rare earth mining quota for 2023 was 210,000 tons REO equivalent.
  • Global silicon steel production for transformers: 2.8 million tons in 2023.
  • Bonded magnet production increased 15% YoY to 85,000 tons in 2023.
  • Australia ramped up NdPr oxide production to 8,000 tons in 2023.
  • Vietnam's ferrite production capacity reached 150,000 tons annually in 2023.
  • Global supply of dysprosium oxide for magnets: 1,500 tons in 2023.
  • Magnetic powder production volume: 120,000 tons worldwide in 2022.
  • EU imposed tariffs on Chinese NdFeB magnets, reducing imports by 20% in 2023.
  • India's rare earth magnet production started at 500 tons pilot in 2023.
  • Terbium supply chain bottleneck limited production to 450 tons globally in 2023.
  • Amorphous alloy strip production: 450,000 tons in China alone 2023.
  • Global capacity utilization for NdFeB sintering plants averaged 85% in 2023.
  • Myanmar supplied 25% of heavy rare earths for magnets in 2023, ~800 tons.
  • Nano-crystalline alloy production volume reached 25,000 tons in 2023.
  • US DOE funded 2 new magnet production facilities targeting 5,000 tons/year by 2025.
  • Ferrite raw material (strontium carbonate) production: 900,000 tons in 2023.
  • Supply chain disruption caused 10% shortage in SmCo magnets in Q3 2023.
  • Global magnetic material scrap recycling: 45,000 tons processed in 2023.
  • Brazil's niobium production for AlNiCo: 12,000 tons REO equivalent in 2023.

Production and Supply Chain Interpretation

While China's 78% stranglehold on NdFeB magnets demonstrates a world alarmingly dependent on one factory floor, the paltry 12% recycling rate and emerging global efforts reveal an industry scrambling to either find its balance or be permanently pulled into a single orbit.

Regional and Economic Insights

  • Asia-Pacific magnetic materials market share 55.3% in 2023, led by China.
  • China accounted for 85% of global NdFeB production value USD 12.1 billion in 2023.
  • US imported 14,500 tons of permanent magnets worth USD 1.2 billion in 2023.
  • Europe’s magnet market grew 6.2% in 2023, driven by wind energy.
  • Japan's rare earth magnet exports fell 5% to USD 2.8 billion in 2023.
  • India's magnetic materials consumption rose 12% to USD 450 million.
  • South Korea produced 18,000 tons NdFeB, 8% of global in 2023.
  • Australia's rare earth magnet feedstock exports USD 300 million in 2023.
  • Germany's electrical steel output 450,000 tons, 16% of EU total.
  • Brazil's ferrite magnet production 120,000 tons, export-focused.
  • Vietnam magnet manufacturing FDI USD 500 million in 2023.
  • Middle East magnetic materials import growth 9% due to oil tech.
  • North America EV magnet demand projected USD 1.5 billion by 2025.
  • China's domestic magnet prices rose 15% in 2023 to RMB 450/kg NdFeB.
  • EU anti-dumping duties on China magnets averaged 37.3% in 2023.
  • Russia's ferrite production 80,000 tons, supplying CIS markets.
  • Mexico's auto sector imported USD 200 million magnets in 2023.
  • Southeast Asia magnet hub capacity added 50,000 tons in 2023.
  • UK's offshore wind drove magnet imports to GBP 150 million.
  • Turkey's AlNiCo production 2,500 tons for export.
  • Africa rare earth exploration investments USD 1.2 billion, magnet focus.
  • Canada's MP Materials output 1,000 tons NdPr oxide.
  • Taiwan semiconductor magnets consumption USD 180 million.
  • Saudi Arabia Aramco magnetic tools procurement USD 100 million.
  • Poland's green steel with advanced magnets investment PLN 2 billion.

Regional and Economic Insights Interpretation

The Asia-Pacific region, and particularly China, holds the global magnetic materials market firmly in its grip, with Western nations racing to diversify supply chains and boost domestic production amidst rising prices and tariffs, while green energy demands drive growth and investments worldwide.

Sources & References

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