The Global Rare Earth Magnet for HDD Market was valued at USD 1.47 Billion in 2024 and is projected to reach USD 2.78 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period (2024-2032). This growth is driven by increasing demand for high-capacity data storage, expansion of cloud infrastructure, and technological advancements in magnetic materials.
As the data storage industry evolves to meet growing digital needs, rare earth magnets – particularly neodymium-iron-boron (NdFeB) magnets – remain critical components in hard disk drives (HDDs). In this blog, we profile the Top 10 Companies in the Rare Earth Magnet for HDD Industry – a mix of established manufacturers and innovative suppliers shaping the future of data storage technology.
🔟 1. Hitachi Metals Group
Headquarters: Tokyo, Japan
Key Offering: NEOMAX® sintered NdFeB magnets
Hitachi Metals dominates the rare earth magnet market with its proprietary NEOMAX technology, holding approximately 32% market share. The company supplies high-performance magnets to major HDD manufacturers like Seagate and Western Digital.
Innovation Highlights:
- Pioneer in grain boundary diffusion technology
- Leading producer of high-coercivity magnets for enterprise HDDs
- Global production capacity of over 15,000 tons annually
Download FREE Sample Report: Global and United States Rare Earth Magnet for HDD Market – View in Detailed Research Report
9️⃣ 2. TDK Corporation
