The Global Cobalt Rare Earth Magnets Market was valued at USD 2.8 Billion in 2024 and is projected to reach USD 4.5 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period (2024–2030). This growth is being driven by increasing demand from electric vehicles, renewable energy systems, and high-performance electronics, while facing supply chain challenges due to geopolitical factors and cobalt price volatility.

As industries worldwide transition toward electrification and energy efficiency, the spotlight is on the key magnetic materials manufacturers who are driving technological innovation, performance optimization, and sustainable material solutions. In this blog, we profile the Top 10 Companies in the Cobalt Rare Earth Magnets Industry—a mix of established magnet producers, specialty manufacturers, and technology innovators shaping the future of advanced magnetic applications.

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🔟 1. Hitachi Metals Ltd.

Headquarters: Tokyo, Japan
Key Offering: Samarium Cobalt (SmCo) Magnets, High-Temperature Magnets, Corrosion-Resistant Magnets

Hitachi Metals is a global leader in advanced magnetic materials, offering comprehensive samarium cobalt magnet solutions across industrial and consumer markets. Their magnetic materials division serves automotive, aerospace, medical equipment, and defense sectors, with extensive capabilities in producing both SmCo 1:5 and SmCo 2:17 grades for demanding applications.

Innovation Initiatives:

• Advanced SmCo manufacturing technologies

• High-temperature magnetic material development

• Strategic partnerships with EV manufacturers and component suppliers

Download FREE Sample Report: Cobalt Rare Earth Magnets Market – View in Detailed Research Report

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9️⃣ 2. Arnold Magnetic Technologies

Headquarters: Rochester, New York, USA
Key Offering: Samarium Cobalt Magnets, Bonded Magnets, Custom Magnetic Assemblies

Arnold Magnetic Technologies operates manufacturing facilities across North America, Europe, and Asia, producing specialized samarium cobalt magnets for aerospace, defense, and medical applications where reliability and performance are critical.

Innovation Initiatives:

• High-performance magnet design and engineering

• Custom magnetic solutions for extreme environments

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8️⃣ 3. Vacuumschmelze (VAC)

Headquarters: Hanau, Germany
Key Offering: VACOSMCO Samarium Cobalt, High-Temperature Magnets, Rare Earth Magnetic Materials

VAC’s permanent magnet division specializes in high-performance samarium cobalt magnets for motors, generators, and sensors operating in challenging conditions.

Innovation Initiatives:

• Specialized magnetic materials for automotive applications

• Aerospace and defense magnetic solutions development

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7️⃣ 4. Electron Energy Corporation

Headquarters: Landisville, Pennsylvania, USA
Key Offering: Samarium Cobalt Magnets, Neodymium-Iron-Boron Magnets, Custom Magnetic Assemblies

Electron Energy Corporation is one of North America’s leading producers of samarium cobalt magnets, serving both commercial and military sectors with high-reliability magnetic components.

Innovation Initiatives:

• Production capacity expansion for rare earth magnets

• Quality management systems for critical applications

Download FREE Sample Report: Cobalt Rare Earth Magnets Market – View in Detailed Research Report

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6️⃣ 5. Tridus Magnetics and Assemblies

Headquarters: Ontario, California, USA
Key Offering: Samarium Cobalt Disc Magnets, Block Magnets, Ring Magnets

Tridus Magnetics provides comprehensive magnetic solutions including samarium cobalt magnets for various industrial applications, emphasizing customer-specific solutions and engineering support.

Innovation Initiatives:

• Custom magnet manufacturing and assembly services

• Global distribution network for magnetic components

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5️⃣ 6. Daido Electronics Co., Ltd.

Headquarters: Nagoya, Japan
Key Offering: Samarium Cobalt Magnets, Neodymium Magnets, Magnetic Assemblies

Daido Electronics is a Japanese specialist in advanced magnetic materials manufacturing, particularly strong in high-coercivity samarium cobalt magnets for precision instruments and aerospace applications.

Innovation Initiatives:

• High-performance magnet development

• Technical support and application engineering services

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4️⃣ 7. Magnequench

Headquarters: Tianjin, China
Key Offering: Samarium Cobalt Magnets, NdFeB Magnets, Magnetic Powders

Magnequench, with operations primarily in China, is a significant player in bonded samarium cobalt magnet production, serving various industrial sectors with cost-effective magnetic solutions.

Innovation Initiatives:

• Advanced magnetic powder production technologies

• Strategic expansion into emerging magnet applications

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3️⃣ 8. Thomas & Skinner

Headquarters: Indianapolis, Indiana, USA
Key Offering: Samarium Cobalt Magnets, Alnico Magnets, Custom Magnetic Designs

Thomas & Skinner specializes in producing high-performance samarium cobalt magnets for industrial, aerospace, and research applications requiring stable performance across temperature variations.

Innovation Initiatives:

• Custom magnet manufacturing for specialized applications

• Quality assurance programs for critical magnetic components

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2️⃣ 9. MMC Magnetics Corp.

Headquarters: Sagamihara, Kanagawa, Japan
Key Offering: Samarium Cobalt Magnets, Neodymium-Iron-Boron Magnets, Ferrite Magnets

MMC Magnetics offers a comprehensive range of samarium cobalt magnets for applications requiring high resistance to demagnetization and excellent thermal stability.

Innovation Initiatives:

• High-performance magnet solutions

• Global distribution and technical support network

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1️⃣ 10. TDK Corporation

Headquarters: Tokyo, Japan
Key Offering: Samarium Cobalt Magnets, Ferrite Magnets, Advanced Magnetic Materials

TDK’s magnetic materials division develops and manufactures samarium cobalt magnets for automotive, industrial, and consumer electronics applications.

Innovation Initiatives:

• Diversified magnetic product portfolio

• Research and development in next-generation magnetic materials

Get Full Report Here: Cobalt Rare Earth Magnets Market – View in Detailed Research Report

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🌍 Outlook: The Future of Cobalt Rare Earth Magnets is Smarter and More Efficient

The cobalt rare earth magnets market is experiencing sustained growth due to increasing electrification across multiple industries. While samarium cobalt magnets currently hold a significant position in high-temperature and critical applications, the industry is focusing on material optimization, supply chain resilience, and cost-effective manufacturing to meet evolving market demands.

📈 Key Trends Shaping the Market:

• Increasing demand from electric vehicle motor applications

• Advanced manufacturing technologies for improved magnetic properties

• Geopolitical factors affecting rare earth element supply chains

• Development of next-generation magnetic materials with improved performance characteristics

• Growing applications in aerospace, defense, and medical equipment sectors

Get Full Report Here: Cobalt Rare Earth Magnets Market – View in Detailed Research Report

The companies listed above are not only producing advanced magnetic materials—they’re advancing the technological capabilities of multiple industries through magnetic innovation.