The Global SmCo Magnet Market was valued at US$ 482.9 Million in 2023 and is projected to reach US$ 699.4 Million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period (2024–2030). This growth is being driven by increasing demand from the aerospace, defense, and medical equipment sectors, alongside the relentless push for high-performance, temperature-stable magnetic solutions in critical applications.

As technology advances toward more demanding environments and miniaturization, the spotlight is on the key material suppliers who are driving innovation, performance, and reliability. In this blog, we profile the Top 10 Companies in the SmCo Magnet Industry—a mix of established magnetics specialists and advanced materials producers shaping the future of high-performance magnetics.

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🔟 1. Arnold Magnetic Technologies

Headquarters: Rochester, New York, USA
Key Offering: High-performance SmCo magnets, custom magnetic assemblies

Arnold Magnetic Technologies is a global leader in engineered magnetic solutions and a premier manufacturer of SmCo magnets. The company specializes in producing magnets that operate reliably in extreme temperatures and harsh environments, catering to aerospace, defense, and medical technology markets.

Innovation Initiatives:

• Advanced manufacturing processes for superior magnetic properties

• R&D focus on next-generation rare-earth magnet formulations

• Custom engineering solutions for mission-critical applications

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9️⃣ 2. Eclipse Magnetics

Headquarters: Sheffield, United Kingdom
Key Offering: SmCo magnets, magnetic separators, and holding systems

Eclipse Magnetics is a leading European manufacturer known for its high-quality magnetic products, including a comprehensive range of SmCo magnets. The company provides solutions for industries requiring strong magnetic performance at elevated temperatures, such as motors, sensors, and aerospace components.

Innovation Initiatives:

• Development of corrosion-resistant magnetic assemblies

• Expansion into high-growth sectors like renewable energy and electric vehicles

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8️⃣ 3. ThyssenKrupp Magnettechnik

Headquarters: Dortmund, Germany
Key Offering: SmCo magnets, neodymium magnets, magnetic systems

As part of the ThyssenKrupp group, ThyssenKrupp Magnettechnik leverages extensive engineering expertise to produce high-performance SmCo magnets. The company serves automotive, industrial automation, and aerospace sectors with a focus on precision and reliability.

Innovation Initiatives:

• Integration of magnetics into complex industrial systems

• Investment in automated manufacturing for consistent quality

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7️⃣ 4. Master Magnetics

Headquarters: Castle Rock, Colorado, USA
Key Offering: SmCo disc magnets, rods, rings, and custom shapes

Master Magnetics is a prominent US-based manufacturer offering a wide array of permanent magnets, including SmCo. The company is recognized for its strong distribution network and ability to supply both standard and custom magnetic solutions to a diverse industrial clientele.

Innovation Initiatives:

• Broad product portfolio catering to various industrial needs

• Focus on accessible high-performance magnets for engineering applications

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SmCo Magnet Market – View in Detailed Research Report

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6️⃣ 5. Dura Magnetics

Headquarters: Saginaw, Michigan, USA
Key Offering: SmCo magnets, magnetic separators, and assemblies

Dura Magnetics specializes in the design and manufacturing of permanent magnets and magnetic assemblies, with significant expertise in SmCo magnet technology. The company serves demanding sectors that require magnets capable of performing under extreme thermal and environmental stress.

Innovation Initiatives:

• Custom fabrication services for specialized applications

• Quality systems certified for aerospace and defense contracts

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5️⃣ 6. MS-Schramberg GmbH & Co. KG

Headquarters: Schramberg, Germany
Key Offering: Precision SmCo magnets for sensors and actuators

MS-Schramberg is a German specialist in high-precision permanent magnets, with a strong focus on SmCo materials for automotive, industrial, and sensor applications. The company is known for its technical expertise in magnetizing and calibrating magnets for specific performance characteristics.

Innovation Initiatives:

• Precision engineering for sensor and measurement technology

• Development of application-specific magnetic solutions

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4️⃣ 7. Ningbo Zhaobao Magnet

Headquarters: Ningbo, Zhejiang, China
Key Offering: SmCo magnets, neodymium magnets, ferrite magnets

Ningbo Zhaobao Magnet is a leading Chinese manufacturer in the global magnet market, producing a wide range of permanent magnets including SmCo. The company benefits from proximity to rare-earth resources and has established a strong export presence worldwide.

Innovation Initiatives:

• Cost-competitive manufacturing of high-performance magnets

• Expansion of production capacity to meet growing global demand

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3️⃣ 8. Magengine

Headquarters: Xiamen, Fujian, China
Key Offering: SmCo magnets, bonded magnets, magnetic materials

Magengine is a specialized manufacturer focused on advanced magnetic materials, including various grades of SmCo magnets. The company serves electronics, automotive, and industrial sectors with a commitment to technological advancement and quality assurance.

Innovation Initiatives:

• Research into improved magnetic compound materials

• Development of eco-friendly manufacturing processes

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2️⃣ 9. Armstrong Magnetics

Headquarters: Baltimore, Maryland, USA
Key Offering: SmCo magnets, alnico magnets, custom magnetic assemblies

Armstrong Magnetics has been a trusted supplier in the magnetics industry for decades, offering SmCo magnets among its diverse product lines. The company specializes in providing solutions for applications where temperature stability and magnetic strength are paramount.

Innovation Initiatives:

• Long-standing expertise in magnetic material science

• Customer-focused approach to application engineering

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1️⃣ 10. HEINRICH KIPP WERK KG

Headquarters: Schöntal, Germany
Key Offering: Standard and custom SmCo magnets, magnetic tools

HEINRICH KIPP WERK is a German manufacturer with a strong tradition in precision engineering and magnetic solutions. The company produces SmCo magnets for industrial applications requiring reliable performance in challenging operating conditions.

Innovation Initiatives:

• Focus on precision and quality in magnet production

• Development of integrated magnetic systems for industrial automation

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🌍 Outlook: The Future of SmCo Magnets Is High-Performance and Specialized

The SmCo magnet market is experiencing steady growth driven by technological demands. While neodymium magnets dominate in volume for many applications, SmCo magnets maintain their crucial role in high-temperature and critical performance applications where reliability cannot be compromised.

📈 Key Trends Shaping the Market:

• Growing demand from aerospace and defense sectors for reliable components

• Expansion of medical equipment requiring stable magnetic performance

• Advancements in electric vehicle motors requiring high-temperature operation

• Increasing miniaturization of electronic devices driving need for high-energy density magnets

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SmCo Magnet Market – View in Detailed Research Report

The companies listed above are not only supplying critical components—they’re enabling the technological advancement of industries that depend on uncompromising magnetic performance.