The Global Cobalt Rare Earth Magnets Market was valued at USD 2.85 Billion in 2024 and is projected to reach USD 4.61 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period (2024–2030). This robust growth is primarily driven by escalating demand from the electric vehicle (EV) sector, advancements in renewable energy technologies like wind turbines, and the proliferation of consumer electronics requiring compact, high-performance magnetic solutions.

As industries worldwide pivot towards electrification and miniaturization, the demand for high-performance magnets with superior thermal stability and magnetic strength is surging. In this blog, we profile the Top 10 Companies in the Cobalt Rare Earth Magnets Industry—a group of established manufacturers and innovative suppliers shaping the technological landscape.

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🔟 1. Hitachi Metals, Ltd. (Now Proterial, Ltd.)

Headquarters: Tokyo, Japan
Key Offering: NEOREC Series Samarium Cobalt Magnets

Hitachi Metals, now operating under the name Proterial, is a global powerhouse in advanced magnetic materials. The company’s NEOREC series of samarium cobalt (SmCo) magnets are renowned for their exceptional performance in high-temperature environments, making them indispensable for aerospace, automotive, and industrial motor applications.

Innovation and Market Position:

• Leading producer of high-grade SmCo magnets with superior temperature resistance

• Key supplier to global automotive and aerospace OEMs

• Continuous R&D focused on improving magnetic energy product and corrosion resistance

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9️⃣ 2. Arnold Magnetic Technologies

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

Arnold Magnetic Technologies specializes in manufacturing high-performance permanent magnets and complex magnetic assemblies. With a heritage spanning over a century, the company provides critical components for defense, medical, and aerospace sectors where reliability under extreme conditions is paramount.

Innovation and Market Position:

• Expertise in producing magnets for extreme environments (-270°C to 350°C)

• Significant presence in the North American defense and aerospace supply chain

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8️⃣ 3. Shin-Etsu Chemical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Rare Earth Magnets, including Samarium Cobalt variants

Shin-Etsu Chemical is one of the world’s largest manufacturers of rare earth magnets. While renowned for its neodymium magnets, the company also produces high-quality samarium cobalt magnets, leveraging its extensive expertise in chemical processing and material science.

Innovation and Market Position:

• Vertically integrated production from raw materials to finished magnets

• Strategic focus on securing a stable supply of rare earth elements

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7️⃣ 4. Vacuumschmelze GmbH & Co. KG (VAC)

Headquarters: Hanau, Germany
Key Offering: Vacodym (NdFeB) and Vacomax (SmCo) Magnets

VAC is a leading European producer of advanced magnetic materials. Its Vacomax brand of samarium cobalt magnets is critical for applications requiring stable magnetic properties at elevated temperatures, such as sensors, motors, and actuators in automotive and industrial automation.

Innovation and Market Position:

• Pioneer in the development of bonded and sintered rare earth magnets

• Strong focus on custom solutions for specific customer applications

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6️⃣ 5. TDK Corporation

Headquarters: Tokyo, Japan
Key Offering: Neodymium and Samarium Cobalt Magnets

TDK Corporation is a global electronics giant with a formidable presence in the magnetic materials market. The company’s samarium cobalt magnets are widely used in high-reliability applications, including hybrid vehicle systems, advanced medical equipment, and high-performance industrial motors.

Innovation and Market Position:

• Extensive R&D capabilities in material science and application engineering

• Integrated supply chain supporting diverse global industries

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

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5️⃣ 6. Eclipse Magnetics Ltd.

Headquarters: Sheffield, United Kingdom
Key Offering: High-Performance SmCo Magnets, Magnetic Assemblies

Eclipse Magnetics is a specialist manufacturer known for its bespoke magnetic solutions. The company produces samarium cobalt magnets that excel in challenging environments, serving sectors like oil and gas, aerospace, and renewable energy where corrosion resistance and thermal stability are critical.

Innovation and Market Position:

• Specialization in corrosion-resistant magnet coatings and assemblies

• Strong engineering support for custom application development

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4️⃣ 7. Thomas & Skinner Inc.

Headquarters: Indianapolis, Indiana, USA
Key Offering: Sintered Samarium Cobalt Magnets

Thomas & Skinner has been a prominent name in the magnet industry for decades. The company manufactures sintered samarium cobalt magnets known for their high magnetic strength and reliability, catering to the military, medical technology, and instrumentation markets.

Innovation and Market Position:

• Long-standing reputation for quality and consistency in magnet production

• Focus on serving niche, high-value industrial and defense applications

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3️⃣ 8. Bunting Magnetics Co.

Headquarters: Newton, Kansas, USA
Key Offering: Samarium Cobalt Magnets, Magnetic Separation Equipment

Bunting Magnetics is a diversified manufacturer that produces a wide range of permanent magnets and magnetic assemblies. Their samarium cobalt products are used in applications demanding high performance in elevated temperatures, such as in motors and sensors.

Innovation and Market Position:

• Integrated manufacturer from raw magnets to complex magnetic systems

• Global distribution network serving a broad industrial customer base

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2️⃣ 9. Magnequench

Headquarters: Singapore (Global Operations)
Key Offering: Anisotropic Samarium Cobalt Magnets

Magnequench, a part of the Neo Performance Materials group, is a leading global producer of rare earth magnetic powders and fully dense magnets. The company’s anisotropic samarium cobalt magnets are engineered for high-energy product and thermal stability.

Innovation and Market Position:

• Leadership in bonded magnet technology using rare earth powders

• Strategic focus on innovations for automotive and electronics sectors

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1️⃣ 10. Stanford Magnets

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

Stanford Magnets is a globally recognized supplier of rare earth permanent magnets. The company offers a comprehensive range of samarium cobalt magnet types, including discs, blocks, and cylinders, serving research institutions, OEMs, and various high-tech industries.

Innovation and Market Position:

• Extensive inventory of standard and custom magnet shapes and sizes

• Strong focus on the research, educational, and prototyping markets

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

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🌍 Outlook: The Future of Cobalt Rare Earth Magnets Is Driven by Technology and Sustainability

The cobalt rare earth magnets market is experiencing a transformative phase. While traditional applications continue to drive demand, the industry is increasingly influenced by the global push for electrification, energy efficiency, and supply chain sustainability.

📈 Key Trends Shaping the Market:

• Explosive growth in Electric Vehicle (EV) production, increasing demand for high-efficiency traction motors

• Expansion of offshore and onshore wind energy, requiring robust generators with SmCo magnets

• Intensifying R&D into reducing rare earth content and improving recycling processes

• Geopolitical focus on securing stable, diversified rare earth element supplies

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

The companies listed above are not only supplying critical components for modern technology—they are actively advancing material science to enable a more efficient and electrified future.