GITNUXREPORT 2026

Magnetics Industry Statistics

The global magnetics industry is growing steadily due to demand from electric vehicles and renewable energy.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

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Statistic 1

Automotive sector consumes 35% of global magnet production.

Statistic 2

Electric vehicles require 2-3 kg of NdFeB magnets per unit on average.

Statistic 3

Wind turbines use up to 600 kg of permanent magnets per MW capacity.

Statistic 4

MRI machines demand 1.5-2 tons of superconducting magnets each.

Statistic 5

Hard disk drives in data centers use 75% neodymium magnets by volume.

Statistic 6

Consumer electronics account for 22% of annual ferrite magnet demand.

Statistic 7

EV traction motors consume 45% of rare earth magnet production.

Statistic 8

Speakers and headphones require 0.5-1 gram of magnets per unit.

Statistic 9

Medical pumps and ventilators use soft magnets in 60% of devices.

Statistic 10

Aerospace actuators demand high-temp samarium-cobalt magnets in 80% apps.

Statistic 11

HVAC compressors use alnico magnets in 15% of global units.

Statistic 12

Renewable energy sector magnet demand grew 18% YoY in 2023.

Statistic 13

Industrial motors and generators consume 28% of soft magnetic materials.

Statistic 14

Magnetic separators in mining process 40% of ore beneficiation.

Statistic 15

Sensors in smartphones use micro-magnets in 95% models.

Statistic 16

Defense missiles require precision magnets in guidance systems 100%.

Statistic 17

Elevators and escalators demand 1.2 kg magnets per cabin average.

Statistic 18

Power tools market uses bonded magnets in 55% of products.

Statistic 19

Magnetic resonance imaging scanners hold 70% market with YBCO magnets.

Statistic 20

Hybrid vehicles need 1.5 kg magnets per hybrid unit.

Statistic 21

Data storage HDDs shipment declined 12% but magnet use per drive up 5%.

Statistic 22

Flexible magnets used in 80% of advertising displays globally.

Statistic 23

Robotics end-effectors incorporate magnets in 65% designs.

Statistic 24

Electric bicycles motors require 0.4 kg NdFeB per unit.

Statistic 25

Loudspeakers in automotive audio systems use 25 grams ferrite average.

Statistic 26

Magnetic bearings in turbochargers reduce friction by 50%.

Statistic 27

The global magnetics market size was valued at USD 22.5 billion in 2023 and is expected to grow to USD 35.8 billion by 2030 at a CAGR of 6.8%.

Statistic 28

Permanent magnets accounted for 58% of the total magnetics market revenue in 2022.

Statistic 29

The soft magnetic materials segment is projected to register the highest CAGR of 7.2% from 2024 to 2030 due to rising EV demand.

Statistic 30

North America magnetics market grew by 5.4% YoY in 2023, reaching USD 4.2 billion.

Statistic 31

Asia-Pacific dominated the global magnetics market with 45% share in 2023.

Statistic 32

Neodymium-iron-boron (NdFeB) magnets market was valued at USD 12.3 billion in 2023.

Statistic 33

The magnetics market in automotive sector is forecasted to grow at 8.1% CAGR through 2028.

Statistic 34

Global ferrite magnets market size stood at USD 5.6 billion in 2022, expected to hit USD 7.9 billion by 2029.

Statistic 35

Electromagnets segment revenue reached USD 3.8 billion globally in 2023.

Statistic 36

The overall magnetics industry CAGR from 2023-2030 is estimated at 6.5% driven by renewable energy.

Statistic 37

Samarium-cobalt magnets market valued at USD 450 million in 2023, growing at 4.2% CAGR.

Statistic 38

Industrial magnetics market size was USD 8.7 billion in 2022.

Statistic 39

Medical devices magnetics sub-market grew 7.8% in 2023 to USD 1.2 billion.

Statistic 40

Wind turbine magnets market projected to reach USD 4.5 billion by 2027 at 9.3% CAGR.

Statistic 41

Consumer electronics magnets market valued at USD 6.1 billion in 2023.

Statistic 42

Alnico magnets global market size was USD 320 million in 2022.

Statistic 43

Magnetic sensors market, closely tied to magnetics, hit USD 2.9 billion in 2023.

Statistic 44

Rare earth magnets market share was 42% of total magnetics in 2023.

Statistic 45

HVAC systems magnets market grew to USD 1.8 billion in 2023 at 5.9% YoY.

Statistic 46

Defense and aerospace magnetics market size USD 2.1 billion in 2023.

Statistic 47

Global magnetic materials market revenue was USD 18.4 billion in 2022.

Statistic 48

EV motors magnets market expected to grow at 12.4% CAGR to 2030.

Statistic 49

Bonded magnets market valued at USD 2.2 billion in 2023.

Statistic 50

Superconducting magnets market size USD 3.5 billion in 2023, CAGR 5.7%.

Statistic 51

Magnetic alloys market reached USD 4.1 billion in 2022.

Statistic 52

Data storage magnets market projected at USD 1.5 billion by 2028.

Statistic 53

Injection molded magnets market size USD 650 million in 2023.

Statistic 54

Sintered magnets segment dominated with 65% market share in 2023.

Statistic 55

Magnetic composites market valued at USD 1.9 billion in 2022.

Statistic 56

Global flexible magnets market size was USD 2.4 billion in 2023.

Statistic 57

China produced 68% of global NdFeB magnets in 2022, totaling 168,000 tons.

Statistic 58

World rare earth magnet production reached 280,000 metric tons in 2023.

Statistic 59

Annual global ferrite magnet production capacity is over 1.2 million tons as of 2023.

Statistic 60

NdFeB magnet production in Japan was 28,500 tons in 2022.

Statistic 61

US sintered NdFeB production capacity stands at 2,000 tons per year in 2023.

Statistic 62

Global alnico magnet production volume was 5,200 tons in 2022.

Statistic 63

China's annual production of samarium-cobalt magnets exceeds 1,500 tons.

Statistic 64

Europe ferrite powder production reached 450,000 tons in 2023.

Statistic 65

Bonded magnet production globally hit 45,000 tons in 2022.

Statistic 66

Sintered magnet manufacturing output in India was 12,000 tons in 2023.

Statistic 67

Global soft magnetic composite production volume 120,000 tons annually.

Statistic 68

Neodymium oxide used in magnets production: 45,000 tons in 2023.

Statistic 69

US domestic magnet production increased 15% YoY to 8,500 tons in 2023.

Statistic 70

Vietnam's rare earth magnet production capacity ramped to 5,000 tons by 2024.

Statistic 71

Global injection molded magnets production: 18,000 tons in 2022.

Statistic 72

Powder metallurgy for magnets produced 250,000 tons worldwide in 2023.

Statistic 73

Flex magnet strip production volume 90,000 tons per year globally.

Statistic 74

EU alnico production declined to 1,200 tons in 2022 due to costs.

Statistic 75

Praseodymium-neodymium alloy production for magnets: 38,000 tons in 2023.

Statistic 76

Korea's NdFeB output was 22,000 tons in 2022.

Statistic 77

Recycling of rare earth magnets yielded 1,200 tons globally in 2023.

Statistic 78

Magnetic powder production capacity in Brazil: 3,500 tons annually.

Statistic 79

Global sintered ferrite production 850,000 tons in 2023.

Statistic 80

Extruded magnet production volume 12,000 tons in 2022.

Statistic 81

Heavy rare earths for high-performance magnets: 4,500 tons produced in 2023.

Statistic 82

Asia-Pacific magnetics market holds 52% global share in 2023.

Statistic 83

China exported 152,000 tons of rare earth magnets in 2022.

Statistic 84

US magnet imports from China dropped 25% in 2023 due to tariffs.

Statistic 85

EU magnet market value USD 3.9 billion in 2023, import-dependent 70%.

Statistic 86

Japan's NdFeB import volume 15,200 tons in 2022.

Statistic 87

India magnet production up 22% but imports 65% of needs.

Statistic 88

Vietnam magnet exports grew 45% to USD 120 million in 2023.

Statistic 89

Germany leads EU in magnet consumption at 28% share.

Statistic 90

Australia rare earth magnet feedstock exports 12,000 tons in 2023.

Statistic 91

South Korea imported USD 850 million in magnets in 2022.

Statistic 92

Brazil NdFeB production meets 5% domestic demand, exports 80%.

Statistic 93

Mexico magnet manufacturing hub, exports USD 200 million to US.

Statistic 94

Middle East magnet market grows at 7.1% CAGR, UAE leads.

Statistic 95

Russia ferrite exports 18,000 tons annually to CIS countries.

Statistic 96

Canada invests CAD 50 million in domestic magnet supply chain 2023.

Statistic 97

Turkey magnet imports rose 30% to 4,500 tons in 2022.

Statistic 98

Africa rare earth potential, South Africa produces 500 tons magnets.

Statistic 99

Global magnet trade value USD 15.2 billion in 2023.

Statistic 100

UK post-Brexit magnet tariffs impact 8% cost increase on imports.

Statistic 101

Indonesia plans 10,000 tons magnet production by 2025 for exports.

Statistic 102

France aerospace magnet demand drives 12% import growth.

Statistic 103

Thailand EV hub boosts magnet imports 35% YoY.

Statistic 104

Global supply chain diversification reduces China dependency from 90% to 75% by 2025 forecast.

Statistic 105

Netherlands re-exports 60% of magnet imports within EU.

Statistic 106

Malaysia rare earth processing exports up 28% in 2023.

Statistic 107

NdFeB magnets enable 10x torque density in drone motors.

Statistic 108

Grain boundary diffusion process improves coercivity by 20% in NdFeB.

Statistic 109

Hot deformation technique yields anisotropic magnets with 15% higher performance.

Statistic 110

Nano-crystalline soft magnets reduce core losses by 50% at high frequencies.

Statistic 111

Additive manufacturing of magnets achieves 95% density in 3D printed parts.

Statistic 112

Heavy rare earth free NdFeB magnets developed with 90% performance retention.

Statistic 113

High-temperature superconductors reach 30T fields in compact magnets.

Statistic 114

Magnetocaloric materials achieve 20% higher cooling efficiency.

Statistic 115

Spintronics MRAM uses tunnel magnets with 1000x speed over DRAM.

Statistic 116

Halbach array designs boost field uniformity by 40% in MRI.

Statistic 117

Recycled magnet powder retains 98% magnetic properties after processing.

Statistic 118

Amorphous metal cores cut transformer losses by 75%.

Statistic 119

Quantum dot enhanced magnets improve stability by 30%.

Statistic 120

Laser texturing of magnet surfaces increases adhesion by 25%.

Statistic 121

Ferrite additives boost permeability by 18% in high-freq applications.

Statistic 122

AI-optimized alloy compositions yield 12% stronger alnico magnets.

Statistic 123

Cryogen-free superconducting magnets reduce operating costs by 60%.

Statistic 124

Multilayer thin-film magnets achieve 2T fields at room temp.

Statistic 125

Electrophoretic deposition for uniform coating on complex shapes, 99% yield.

Statistic 126

Dual-phase NdFeB with Ce substitution maintains BHmax over 45 MGOe.

Statistic 127

Soft magnetic composites enable 20 kHz operation with 1W/kg loss.

Statistic 128

Topological magnonics devices operate at THz frequencies.

Statistic 129

Grain size control reduces remanence variation to <1%.

Statistic 130

Hybrid organic-inorganic magnets reach 300K Curie temp.

Statistic 131

Magnetostrictive alloys Terfenol-D strain 2000 ppm under 2kOe field.

1/131

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From being the hidden engine of your smartphone to the powerful core of the renewable energy revolution, the magnetics industry is not just holding steady but is projected to surge from a $22.5 billion market in 2023 to an anticipated $35.8 billion by 2030, fueled by everything from electric vehicles to wind turbines.

Key Takeaways

The global magnetics market size was valued at USD 22.5 billion in 2023 and is expected to grow to USD 35.8 billion by 2030 at a CAGR of 6.8%.
Permanent magnets accounted for 58% of the total magnetics market revenue in 2022.
The soft magnetic materials segment is projected to register the highest CAGR of 7.2% from 2024 to 2030 due to rising EV demand.
China produced 68% of global NdFeB magnets in 2022, totaling 168,000 tons.
World rare earth magnet production reached 280,000 metric tons in 2023.
Annual global ferrite magnet production capacity is over 1.2 million tons as of 2023.
Automotive sector consumes 35% of global magnet production.
Electric vehicles require 2-3 kg of NdFeB magnets per unit on average.
Wind turbines use up to 600 kg of permanent magnets per MW capacity.
NdFeB magnets enable 10x torque density in drone motors.
Grain boundary diffusion process improves coercivity by 20% in NdFeB.
Hot deformation technique yields anisotropic magnets with 15% higher performance.
Asia-Pacific magnetics market holds 52% global share in 2023.
China exported 152,000 tons of rare earth magnets in 2022.
US magnet imports from China dropped 25% in 2023 due to tariffs.

The global magnetics industry is growing steadily due to demand from electric vehicles and renewable energy.

Applications and Demand

Automotive sector consumes 35% of global magnet production.
Electric vehicles require 2-3 kg of NdFeB magnets per unit on average.
Wind turbines use up to 600 kg of permanent magnets per MW capacity.
MRI machines demand 1.5-2 tons of superconducting magnets each.
Hard disk drives in data centers use 75% neodymium magnets by volume.
Consumer electronics account for 22% of annual ferrite magnet demand.
EV traction motors consume 45% of rare earth magnet production.
Speakers and headphones require 0.5-1 gram of magnets per unit.
Medical pumps and ventilators use soft magnets in 60% of devices.
Aerospace actuators demand high-temp samarium-cobalt magnets in 80% apps.
HVAC compressors use alnico magnets in 15% of global units.
Renewable energy sector magnet demand grew 18% YoY in 2023.
Industrial motors and generators consume 28% of soft magnetic materials.
Magnetic separators in mining process 40% of ore beneficiation.
Sensors in smartphones use micro-magnets in 95% models.
Defense missiles require precision magnets in guidance systems 100%.
Elevators and escalators demand 1.2 kg magnets per cabin average.
Power tools market uses bonded magnets in 55% of products.
Magnetic resonance imaging scanners hold 70% market with YBCO magnets.
Hybrid vehicles need 1.5 kg magnets per hybrid unit.
Data storage HDDs shipment declined 12% but magnet use per drive up 5%.
Flexible magnets used in 80% of advertising displays globally.
Robotics end-effectors incorporate magnets in 65% designs.
Electric bicycles motors require 0.4 kg NdFeB per unit.
Loudspeakers in automotive audio systems use 25 grams ferrite average.
Magnetic bearings in turbochargers reduce friction by 50%.

Applications and Demand Interpretation

The statistics reveal that our modern world, from the quiet hum of an MRI to the thrust of a missile, is fundamentally and irreversibly shackled to the silent, persistent pull of magnets.

Market Size and Growth

The global magnetics market size was valued at USD 22.5 billion in 2023 and is expected to grow to USD 35.8 billion by 2030 at a CAGR of 6.8%.
Permanent magnets accounted for 58% of the total magnetics market revenue in 2022.
The soft magnetic materials segment is projected to register the highest CAGR of 7.2% from 2024 to 2030 due to rising EV demand.
North America magnetics market grew by 5.4% YoY in 2023, reaching USD 4.2 billion.
Asia-Pacific dominated the global magnetics market with 45% share in 2023.
Neodymium-iron-boron (NdFeB) magnets market was valued at USD 12.3 billion in 2023.
The magnetics market in automotive sector is forecasted to grow at 8.1% CAGR through 2028.
Global ferrite magnets market size stood at USD 5.6 billion in 2022, expected to hit USD 7.9 billion by 2029.
Electromagnets segment revenue reached USD 3.8 billion globally in 2023.
The overall magnetics industry CAGR from 2023-2030 is estimated at 6.5% driven by renewable energy.
Samarium-cobalt magnets market valued at USD 450 million in 2023, growing at 4.2% CAGR.
Industrial magnetics market size was USD 8.7 billion in 2022.
Medical devices magnetics sub-market grew 7.8% in 2023 to USD 1.2 billion.
Wind turbine magnets market projected to reach USD 4.5 billion by 2027 at 9.3% CAGR.
Consumer electronics magnets market valued at USD 6.1 billion in 2023.
Alnico magnets global market size was USD 320 million in 2022.
Magnetic sensors market, closely tied to magnetics, hit USD 2.9 billion in 2023.
Rare earth magnets market share was 42% of total magnetics in 2023.
HVAC systems magnets market grew to USD 1.8 billion in 2023 at 5.9% YoY.
Defense and aerospace magnetics market size USD 2.1 billion in 2023.
Global magnetic materials market revenue was USD 18.4 billion in 2022.
EV motors magnets market expected to grow at 12.4% CAGR to 2030.
Bonded magnets market valued at USD 2.2 billion in 2023.
Superconducting magnets market size USD 3.5 billion in 2023, CAGR 5.7%.
Magnetic alloys market reached USD 4.1 billion in 2022.
Data storage magnets market projected at USD 1.5 billion by 2028.
Injection molded magnets market size USD 650 million in 2023.
Sintered magnets segment dominated with 65% market share in 2023.
Magnetic composites market valued at USD 1.9 billion in 2022.
Global flexible magnets market size was USD 2.4 billion in 2023.

Market Size and Growth Interpretation

The future is clearly pulling us towards a more magnetized world, where the surging force of electric vehicles, renewable energy, and advanced electronics is expected to powerfully attract the global market from $22.5 billion to nearly $36 billion by 2030.

Production and Manufacturing

China produced 68% of global NdFeB magnets in 2022, totaling 168,000 tons.
World rare earth magnet production reached 280,000 metric tons in 2023.
Annual global ferrite magnet production capacity is over 1.2 million tons as of 2023.
NdFeB magnet production in Japan was 28,500 tons in 2022.
US sintered NdFeB production capacity stands at 2,000 tons per year in 2023.
Global alnico magnet production volume was 5,200 tons in 2022.
China's annual production of samarium-cobalt magnets exceeds 1,500 tons.
Europe ferrite powder production reached 450,000 tons in 2023.
Bonded magnet production globally hit 45,000 tons in 2022.
Sintered magnet manufacturing output in India was 12,000 tons in 2023.
Global soft magnetic composite production volume 120,000 tons annually.
Neodymium oxide used in magnets production: 45,000 tons in 2023.
US domestic magnet production increased 15% YoY to 8,500 tons in 2023.
Vietnam's rare earth magnet production capacity ramped to 5,000 tons by 2024.
Global injection molded magnets production: 18,000 tons in 2022.
Powder metallurgy for magnets produced 250,000 tons worldwide in 2023.
Flex magnet strip production volume 90,000 tons per year globally.
EU alnico production declined to 1,200 tons in 2022 due to costs.
Praseodymium-neodymium alloy production for magnets: 38,000 tons in 2023.
Korea's NdFeB output was 22,000 tons in 2022.
Recycling of rare earth magnets yielded 1,200 tons globally in 2023.
Magnetic powder production capacity in Brazil: 3,500 tons annually.
Global sintered ferrite production 850,000 tons in 2023.
Extruded magnet production volume 12,000 tons in 2022.
Heavy rare earths for high-performance magnets: 4,500 tons produced in 2023.

Production and Manufacturing Interpretation

With China holding a near-monopoly on the indispensable NdFeB magnets while the rest of the world scrambles to assemble a patchwork of niche alternatives and modest capacities, the global tech industry is effectively betting its future on a single, strategically fraught supply chain.

Regional and Global Trade

Asia-Pacific magnetics market holds 52% global share in 2023.
China exported 152,000 tons of rare earth magnets in 2022.
US magnet imports from China dropped 25% in 2023 due to tariffs.
EU magnet market value USD 3.9 billion in 2023, import-dependent 70%.
Japan's NdFeB import volume 15,200 tons in 2022.
India magnet production up 22% but imports 65% of needs.
Vietnam magnet exports grew 45% to USD 120 million in 2023.
Germany leads EU in magnet consumption at 28% share.
Australia rare earth magnet feedstock exports 12,000 tons in 2023.
South Korea imported USD 850 million in magnets in 2022.
Brazil NdFeB production meets 5% domestic demand, exports 80%.
Mexico magnet manufacturing hub, exports USD 200 million to US.
Middle East magnet market grows at 7.1% CAGR, UAE leads.
Russia ferrite exports 18,000 tons annually to CIS countries.
Canada invests CAD 50 million in domestic magnet supply chain 2023.
Turkey magnet imports rose 30% to 4,500 tons in 2022.
Africa rare earth potential, South Africa produces 500 tons magnets.
Global magnet trade value USD 15.2 billion in 2023.
UK post-Brexit magnet tariffs impact 8% cost increase on imports.
Indonesia plans 10,000 tons magnet production by 2025 for exports.
France aerospace magnet demand drives 12% import growth.
Thailand EV hub boosts magnet imports 35% YoY.
Global supply chain diversification reduces China dependency from 90% to 75% by 2025 forecast.
Netherlands re-exports 60% of magnet imports within EU.
Malaysia rare earth processing exports up 28% in 2023.

Regional and Global Trade Interpretation

While China still holds the magnetic crown with over half the global market and immense export volumes, the world is now actively—and sometimes clumsily—scrambling to forge its own magnetic future, sparking a fragmented, tariff-laden, yet undeniably determined supply chain revolution.

Technological Advancements

NdFeB magnets enable 10x torque density in drone motors.
Grain boundary diffusion process improves coercivity by 20% in NdFeB.
Hot deformation technique yields anisotropic magnets with 15% higher performance.
Nano-crystalline soft magnets reduce core losses by 50% at high frequencies.
Additive manufacturing of magnets achieves 95% density in 3D printed parts.
Heavy rare earth free NdFeB magnets developed with 90% performance retention.
High-temperature superconductors reach 30T fields in compact magnets.
Magnetocaloric materials achieve 20% higher cooling efficiency.
Spintronics MRAM uses tunnel magnets with 1000x speed over DRAM.
Halbach array designs boost field uniformity by 40% in MRI.
Recycled magnet powder retains 98% magnetic properties after processing.
Amorphous metal cores cut transformer losses by 75%.
Quantum dot enhanced magnets improve stability by 30%.
Laser texturing of magnet surfaces increases adhesion by 25%.
Ferrite additives boost permeability by 18% in high-freq applications.
AI-optimized alloy compositions yield 12% stronger alnico magnets.
Cryogen-free superconducting magnets reduce operating costs by 60%.
Multilayer thin-film magnets achieve 2T fields at room temp.
Electrophoretic deposition for uniform coating on complex shapes, 99% yield.
Dual-phase NdFeB with Ce substitution maintains BHmax over 45 MGOe.
Soft magnetic composites enable 20 kHz operation with 1W/kg loss.
Topological magnonics devices operate at THz frequencies.
Grain size control reduces remanence variation to <1%.
Hybrid organic-inorganic magnets reach 300K Curie temp.
Magnetostrictive alloys Terfenol-D strain 2000 ppm under 2kOe field.

Technological Advancements Interpretation

The magnetics industry is engineering minor miracles in miniature, pushing materials to be stronger, smarter, and more sustainable so that everything from your phone to an MRI machine works with quieter, cleaner, and more controlled power.

Sources & References

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