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The Europe Rare Earth Magnet for EV Motor Market was valued at USD 1.58 Billion in 2024 and is projected to reach USD 3.28 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period (2024–2030). This growth is driven by rapid EV adoption, stringent emission regulations, and technological advancements in permanent magnet motors that deliver superior efficiency and performance.

As Europe accelerates its transition to electric mobility, rare earth magnets—particularly neodymium-iron-boron (NdFeB) variants—have become critical components in EV traction motors. In this blog, we profile the Top 10 Companies in the Europe Rare Earth Magnet for EV Motor Industry—key manufacturers and suppliers shaping the future of sustainable transportation.

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🔟 1. Vacuumschmelze GmbH & Co. KG (Germany)

Headquarters: Hanau, Germany
Key Offering: High-performance sintered NdFeB magnets

Vacuumsschmelze (VAC) dominates as Europe’s premier rare earth magnet producer, specializing in automotive-grade sintered NdFeB magnets. The company commands 44% of Germany’s market and supplies major automakers including BMW, Mercedes-Benz and Porsche.

Technology Leadership:

• Developed proprietary VACODYM and VACOMAX magnet series
• Operates Europe’s largest magnet production facility (50,000+ tons annual capacity)
• Pioneered heavy rare earth-reduced magnet formulations

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9️⃣ 2. Umicore (Belgium)

Headquarters: Brussels, Belgium
Key Offering: Recycled rare earth materials and patented bonding technologies

Umicore leads in sustainable magnet solutions through its closed-loop recycling system that recovers >95% of rare earth elements from end-of-life products.

Circular Economy Innovations:

• Processes 5,000+ tons/year of rare earth-containing waste
• Holds 120+ patents in magnet recycling technologies
• Supplies 30% of Europe’s recycled rare earth materials

Download FREE Sample Report: Europe Rare Earth Magnet for EV Motor Market – View in Detailed Research Report

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8️⃣ 3. Solvay/Rhodia (France)

Headquarters: Paris, France
Key Offering: High-purity rare earth oxides and metal alloys

Solvay’s Rhodia division controls 40% of Europe’s rare earth separation capacity, supplying critical materials for 60% of regional magnet production.

Material Expertise:

• Produces 99.999% pure rare earth metals
• Developed proprietary NdPr separation technology
• Supplies all major European magnet manufacturers

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7️⃣ 4. Arnold Magnetic Technologies (UK)

Headquarters: Sheffield, UK
Key Offering: Precision bonded NdFeB magnets

Arnold specializes in complex magnet geometries for high-efficiency EV motors, servicing Jaguar Land Rover, Aston Martin, and other luxury automakers.

Manufacturing Capabilities:

• ISO 9001:2015 and IATF 16949 certified production
• Developed proprietary MAGNEQUENCH bonded magnet technology
• Capable of ±0.05mm tolerance precision molding

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6️⃣ 5. Hitachi Metals/Neorem Magnets (Finland)

Headquarters: Espoo, Finland
Key Offering: High-temperature resistant NdFeB magnets

Hitachi’s European unit produces Neorem-brand magnets with superior thermal stability (>200°C operational temperature) for performance EV applications.

Product Advantages:

• 80% of output dedicated to automotive sector
• Supplies Volvo, Polestar and other Nordic automakers
• Operates zero-waste production facility

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5️⃣ 6. Lynas Rare Earths (Germany)

Headquarters: Munich, Germany
Key Offering: Rare earth raw materials and metals

Lynas provides Europe’s largest non-Chinese supply of separated rare earth oxides through its German distribution center processing Malaysian-sourced materials.

Supply Chain Impact:

• 10,000+ metric tons annual NdPr production
• Key supplier to VAC and other European magnet makers
• 40% lower carbon footprint than Chinese supply chain

Download FREE Sample Report: Europe Rare Earth Magnet for EV Motor Market – View in Detailed Research Report

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4️⃣ 7. Shin-Etsu Chemical (Netherlands)

Headquarters: Amsterdam, Netherlands
Key Offering: Ultra-high coercivity NdFeB magnets

Shin-Etsu’s European operation manufactures specialty magnets optimized for high-revving EV motors in sports and performance vehicles.

Technical Superiority:

• Holds world record for highest coercivity commercial magnet (45 kOe)
• Supplies Ferrari, Porsche, and McLaren EV programs
• Zero-defect quality certification from premium automakers

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3️⃣ 8. TDK Electronics (Germany)

Headquarters: Munich, Germany
Key Offering: NeoceN series sintered magnets

TDK’s magnet division provides advanced materials for German automakers’ next-gen EV platforms through its ISO/TS 16949 certified German facilities.

Innovation Highlights:

• Developed world’s first dysprosium-free high-temperature magnets
• 30+ years of OEM supply to European auto industry
• Key supplier for Volkswagen’s MEB platform

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2️⃣ 9. Ningbo Yunsheng (China/Europe)

Headquarters: Ningbo, China
Key Offering: Cost-competitive sintered magnets

Yunsheng supplies the European aftermarket and budget EV segments through regional warehouses in Rotterdam and Hamburg.

Market Position:

• 15% share of European replacement magnet market
• Supplies Eastern European EV startups
• Competitively priced alternative to European-made magnets

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1️⃣ 10. Daido Steel (UK)

Headquarters: London, UK
Key Offering: Specialty magnet alloys and powders

Daido’s European technical center develops customized rare earth alloys for niche EV applications requiring extreme durability.

Material Science:

• Developed corrosion-resistant magnet coatings
• Supplies motorsport and military EV applications
• Holds 50+ European patents in alloy formulations

Get Full Report Here: Europe Rare Earth Magnet for EV Motor Market – View in Detailed Research Report

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🌍 Future Outlook: Sustainable Magnet Technologies for Europe’s EV Revolution

The European rare earth magnet market stands at an inflection point, with demand expected to triple by 2030 as EV production scales across the continent.

📈 Transformative Market Trends:

• Supply Chain Localization: EU Critical Raw Materials Act driving 50%+ domestic sourcing targets
• Circular Solutions: Magnet recycling projected to meet 15% of demand by 2030
• Technology Innovation: Heavy rare earth-free magnets entering commercialization
• Vertical Integration: Automakers securing direct magnet supply agreements

Get Full Report Here: Europe Rare Earth Magnet for EV Motor Market – View in Detailed Research Report

These market leaders are not just supplying components—they’re building the technological and industrial foundation for Europe’s clean mobility future.