The Global NdFeB Permanent Magnets Market was valued at USD 17.49 Billion in 2023 and is projected to reach USD 23.02 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 3.1% during the forecast period (2023-2032). This growth is driven by accelerating demand from electric vehicles, wind turbines, and consumer electronics sectors, with North America accounting for USD 4.8 billion market value in 2023.

As the world transitions toward electrification and renewable energy, neodymium magnets have become indispensable components in modern technology. In this report, we analyze the Top 10 Companies in the NdFeB Permanent Magnets Industry—global leaders innovating in magnetic materials while addressing supply chain and sustainability challenges.

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🔟 1. Proterial Ltd. (Formerly Hitachi Metals)

Headquarters: Tokyo, Japan
Key Offering: NEOMAX® Series High-Performance Magnets

The world’s leading NdFeB magnet manufacturer, Proterial dominates the premium magnet segment with its patented technologies. Its products are essential in EV motors, industrial automation, and energy generation systems.

Technical Advantages:

• Industry-leading coercivity and thermal resistance
• Dysprosium-reduced formulations for cost efficiency
• Automotive-grade magnetism stability

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9️⃣ 2. Vacuumschmelze GmbH & Co. KG

Headquarters: Hanau, Germany
Key Offering: VACODYM® and VACOMAX® Product Lines

Europe’s magnet technology champion, VAC specializes in precision magnetic solutions for aerospace, medical, and automotive applications requiring extreme reliability.

Technical Advantages:

• Superior corrosion-resistant coatings
• Custom magnetization patterns
• Closed-loop rare earth recycling

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8️⃣ 3. Zhong Ke San Huan Hi-Tech Co., Ltd.

Headquarters: Beijing, China
Key Offering: High-Grade Sintered NdFeB Magnets

China’s largest magnet producer controls approximately 15% of global capacity, supplying major EV manufacturers and industrial clients worldwide.

Technical Advantages:

• 20,000+ metric ton annual production capacity
• Strategic rare earth supply chain integration
• Cobalt-free magnet development initiatives

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7️⃣ 4. TDK Corporation

Headquarters: Tokyo, Japan
Key Offering: NEOREC® Magnets for Precision Applications

TDK combines decades of materials expertise with cutting-edge manufacturing to produce magnets for hard disk drives, industrial motors, and electronics.

Technical Advantages:

• Ultra-thin magnet technologies
• Advanced anti-corrosion treatments
• Closed-loop recycling systems

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NdFeB Permanent Magnets Market – View in Detailed Research Report

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6️⃣ 5. Ningbo Yunsheng Co., Ltd.

Headquarters: Ningbo, China
Key Offering: Cost-Effective Sintered Magnets

A major Chinese manufacturer supplying wind turbines, automotive systems, and industrial applications with reliable magnetic solutions.

Technical Advantages:

• 12,000 ton annual production capacity
• Optimized rare earth utilization
• Expanding recycling infrastructure

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5️⃣ 6. Earth-Panda Advanced Magnetic Material Co., Ltd.

Headquarters: Anhui, China
Key Offering: Custom Magnet Solutions

Specializing in tailored magnetic solutions, Earth-Panda serves global automotive, energy, and industrial sectors with customized NdFeB products.

Technical Advantages:

• Complete vertical integration
• High-coercivity magnet expertise
• Rare earth-efficient formulations

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4️⃣ 7. Shin-Etsu Chemical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Ultra-Precise Sintered Magnets

Shin-Etsu produces specialized magnets for medical imaging, aerospace, and robotics applications requiring exceptional precision.

Technical Advantages:

• Nanoscale magnetization control
• Enhanced thermal stability
• Niche application specialization

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3️⃣ 8. JL Mag Rare-Earth Co., Ltd.

Headquarters: Jiangxi, China
Key Offering: High-Volume Production Magnets

One of China’s fastest-growing magnet producers, JL Mag supplies EV manufacturers and industrial clients with cost-competitive solutions.

Technical Advantages:

• 18,000+ ton annual capacity
• Advanced powder metallurgy processes
• Strong EV motor market position

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2️⃣ 9. Galaxy Magnets

Headquarters: Guangdong, China
Key Offering: Broad Industrial Magnet Portfolio

With ISO/TS 16949 certified production, Galaxy serves diverse industrial sectors with comprehensive NdFeB solutions.

Technical Advantages:

• Multi-industry application expertise
• Continuous process optimization
• Energy-efficient manufacturing

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1️⃣ 10. Innuovo Technology Co., Ltd.

Headquarters: Shenzhen, China
Key Offering: Precision Custom Magnets

Innuovo specializes in small-batch, high-precision magnets for sensors, actuators, and specialized electromechanical systems.

Technical Advantages:

• Advanced magnetic simulation
• Rapid prototyping services
• Micro-magnet expertise

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NdFeB Permanent Magnets Market – View in Detailed Research Report

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🌍 Industry Outlook: Magnets Powering the Electrified Future

The NdFeB magnet industry faces both immense opportunities and challenges as demand surges while supply chains adapt to geopolitical and environmental considerations.

📈 Critical Market Trends:

• EV motors driving 65% of demand growth through 2030
• Global rare earth supply diversification efforts
• Development of heavy rare earth-free magnet formulations
• Increased focus on recycling and circular production models

The companies profiled represent the technological vanguard of permanent magnet production—enabling the global transition to electrified transportation and renewable energy systems through continuous innovation.

Read Full Report:
NdFeB Permanent Magnets Market – View in Detailed Research Report