The Global Neodymium-Iron-Boron (NdFeB) Permanent Magnet Market was valued at USD 17.2 Billion in 2024 and is projected to reach USD 31.5 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast period (2024–2030). This robust growth is being driven by expanding applications in electric vehicles, wind turbines, consumer electronics, and industrial automation, coupled with rising demand for high-performance, energy-efficient magnetic materials across manufacturing sectors.
As industries worldwide accelerate their transition toward electrification and sustainable technologies, the demand for powerful NdFeB magnets continues to surge. In this comprehensive blog, we profile the Top 10 Companies in the Neodymium-Iron-Boron Permanent Magnet Industry—a diverse mix of established manufacturers, technology innovators, and strategic suppliers shaping the future of modern electronics and clean energy infrastructure.
🔟 1. Hitachi Metals, Ltd. (Now Proterial Ltd.)
Headquarters: Tokyo, Japan
Key Offering: NEOREC Series Sintered NdFeB Magnets
Hitachi Metals, now operating as Proterial Ltd. following its spin-off, has been a dominant global leader in high-performance NdFeB magnets for decades. The company supplies critical components for automotive motors, hard disk drives, and industrial equipment, leveraging extensive R&D in magnetic materials science.
Innovation and Strategic Focus:
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Pioneering heavy rare-earth reduction technologies
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Strategic partnerships with global automotive OEMs for EV traction motors
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Leading supplier for high-temperature applications in automotive and industrial sectors
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Neodymium-iron-boron Permanent Magnet Market – View in Detailed Research Report
9️⃣ 2. MMC (Mitsubishi Materials Corporation)
Headquarters: Tokyo, Japan
Key Offering: NEOQUICK Series Bonded NdFeB Magnets
MMC maintains a significant global presence in both sintered and bonded NdFeB magnet production. The company specializes in magnets for precision instruments, acoustic devices, and small motors, with strong capabilities in custom magnetic solutions for specialized applications.
Innovation and Strategic Focus:
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Advanced bonded magnet manufacturing processes
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Focus on miniaturization and performance enhancement for consumer electronics
8️⃣ 3. Vacuumschmelze GmbH & Co. KG
Headquarters: Hanau, Germany
Key Offering: VACODYM Sintered NdFeB Magnets
Vacuumschmelze is Europe’s leading manufacturer of advanced magnetic materials, supplying high-performance NdFeB magnets for automotive, aerospace, and medical technology applications with stringent quality requirements.
Innovation and Strategic Focus:
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Specialization in high-coercivity magnets for demanding applications
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Specialized production for high-reliability industrial and defense applications
7️⃣ 4. Zhong Ke San Huan Hi-Tech Co., Ltd.
Headquarters: Beijing, China
Key Offering: Sintered NdFeB Magnets for various industries
Zhong Ke San Huan is one of China’s largest and most technologically advanced NdFeB magnet producers, serving global markets in consumer electronics, industrial motors, and new energy vehicles.
Innovation and Strategic Focus:
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Vertically integrated production from raw materials to finished magnets
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Significant production capacity expansion to meet growing EV and wind power demand
6️⃣ 5. TDK Corporation
Headquarters: Tokyo, Japan
Key Offering: NEOREC Sintered NdFeB Magnets
TDK Corporation is a global electronics giant with substantial operations in advanced magnetic materials, producing high-quality NdFeB magnets for automotive sensors, actuators, and various electronic components.
Innovation and Strategic Focus:
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Focus on micro-magnets and thin-film magnetic components
Innovation and Strategic Focus:
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Leading position in magnet materials for IT and telecommunications equipment
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Strong R&D in nanotechnology and magnetic thin films
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Neodymium-iron-boron Permanent Magnet Market – View in Detailed Research Report
5️⃣ 6. Zhenghai Magnetic Co., Ltd.
Headquarters: Ningbo, China
Key Offering: High-performance sintered NdFeB magnetsZhenghai Magnetic has established itself as a major Chinese NdFeB magnet manufacturer, specializing in cost-effective solutions for mid-range applications including speakers, motors, and magnetic separators.
Innovation and Strategic Focus:
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Strong export-oriented business model
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Expanding production capacity to capitalize on growing global demand
4️⃣ 7. Ningbo Yunsheng Co., Ltd.
Headquarters: Ningbo, China
Key Offering: Yunsheng NdFeB Magnets for various applicationsNingbo Yunsheng is a prominent Chinese manufacturer of NdFeB permanent magnets, supplying products to automotive, consumer electronics, and industrial equipment manufacturers worldwide.
Innovation and Strategic Focus:
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Focus on automotive sensor and actuator applications
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Strategic focus on high-growth segments including new energy vehicles and wind power generation.
3️⃣ 8. Tianhe Magnets Co., Ltd.
Headquarters: Shenzhen, China
Key Offering: Sintered and bonded NdFeB magnetsTianhe Magnets has grown into a significant player in China’s NdFeB magnet industry, with increasing focus on high-value applications in automotive and industrial automation sectors.
Innovation and Strategic Focus:
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Specialization in custom magnetic assemblies
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Growing international customer base across Asia, Europe, and North America
2️⃣ 9. Shougang Magnetic Material Co., Ltd.
Headquarters: Beijing, China
Key Offering: Shougang NdFeB Permanent MagnetsShougang Magnetic Material is a major Chinese producer of NdFeB magnets with expanding capabilities in high-performance grades for automotive and industrial applications.
Innovation and Strategic Focus:
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Investment in rare-earth supply chain integration
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Focus on cost-competitive manufacturing for volume applications
1️⃣ 10. Jingci Magnet Co., Ltd.
Headquarters: Ningbo, China
Key Offering: Jingci sintered NdFeB magnetsJingci Magnet has emerged as a competitive manufacturer in China’s NdFeB magnet sector, supplying magnets for consumer electronics, automotive components, and medical devices.
Innovation and Strategic Focus:
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Specialization in small precision magnets for electronics
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Growing export business to European and North American markets
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Neodymium-iron-boron Permanent Magnet Market – View in Detailed Research Report
🌍 Outlook: The Future of NdFeB Permanent Magnets Is Driven by Sustainability and Electrification
The NdFeB permanent magnet market is experiencing transformative growth as global industries prioritize energy efficiency and electrification. While traditional applications continue to dominate in volume, the industry is witnessing accelerated adoption in emerging sectors including electric mobility, renewable energy, and industrial automation.
📈 Key Trends Shaping the Market:
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Rapid expansion of electric vehicle production driving magnet demand for traction motors
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Expanding wind power capacity increasing demand for high-performance generator magnets
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Increasing focus on heavy rare-earth reduction technologies to mitigate supply chain risks
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Growing investment in domestic manufacturing capabilities across regions
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Neodymium-iron-boron Permanent Magnet Market – View in Detailed Research ReportThe companies profiled above are not only powering modern technology—they’re driving the global transition toward electrified and sustainable industrial systems.
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