The Global Automotive Magnetic Materials Market was valued at USD 16.81 Billion in 2024 and is projected to reach USD 28.95 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period (2024–2030). This robust growth is primarily driven by the rapid global transition to electric vehicles (EVs), increasing demand for advanced automotive electronics, and stringent government regulations promoting energy efficiency.

As the automotive industry accelerates toward electrification and smarter mobility solutions, the role of high-performance magnetic materials has become critically important. These materials are the bedrock of electric motors, sensors, and numerous electronic control units that define modern vehicles. In this blog, we profile the Top 10 Companies in the Automotive Magnetic Materials Industry—a dynamic mix of established material science giants and innovative specialists shaping the electrified future of transportation.

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🔟 1. Hitachi Metals, Ltd.

Headquarters: Tokyo, Japan
Key Offering: Neodymium (NdFeB) Magnets, Soft Magnetic Composites, Magnet Assemblies

Hitachi Metals is a global leader in advanced magnetic materials, renowned for its high-performance NdFeB magnets which are critical for high-efficiency EV traction motors. The company supplies major automotive OEMs and Tier-1 suppliers worldwide, with a strong focus on thermal stability and corrosion resistance for demanding automotive applications.

Innovation and Sustainability Initiatives:

• Development of high-heat-resistant NdFeB magnets for next-generation EV motors
• Investment in rare-earth recycling technologies to ensure a sustainable supply chain
• Strategic partnerships with global automakers for custom magnetic solutions

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9️⃣ 2. TDK Corporation

Headquarters: Tokyo, Japan
Key Offering: Ferrite Magnets, Neodymium Magnets, Power Inductors, Sensors

TDK Corporation is a powerhouse in electronic components and magnetic materials, providing essential components for automotive power systems, ADAS (Advanced Driver-Assistance Systems), and infotainment. Their ferrite materials are widely used in noise suppression and power conversion applications.

Innovation and Sustainability Initiatives:

• Leading innovations in miniaturized, high-efficiency power inductors for vehicle electronics
• Focus on developing materials with reduced heavy rare-earth content
• Commitment to carbon neutrality across its manufacturing operations by 2035

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8️⃣ 3. VACUUMSCHMELZE GmbH & Co. KG (VAC)

Headquarters: Hanau, Germany
Key Offering: VACODYM® (NdFeB), VACOLITE®, Soft Magnetic Materials

VAC is a European specialist in precision magnetic materials, serving the automotive industry with high-grade permanent magnets and soft magnetic components. The company is a key supplier for electric power steering systems, brake systems, and high-performance EV drivetrains.

Innovation and Sustainability Initiatives:

• Pioneering the development of pressless process (PLP) magnets for superior performance
• Strong emphasis on local European supply chains for automotive customers
• R&D into cobalt-free magnetic alloys to reduce dependency on critical raw materials

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7️⃣ 4. Ningbo Yunsheng Co., Ltd.

Headquarters: Ningbo, China
Key Offering: Sintered NdFeB Magnets, Bonded Magnets, Magnetic Assemblies

Ningbo Yunsheng is one of China’s largest producers of high-performance rare-earth permanent magnets. The company has a significant market share in the automotive sector, supplying magnets for motors, sensors, and actuators used in both conventional and electric vehicles.

Innovation and Sustainability Initiatives:

• Substantial investments in automated production lines to increase capacity and consistency
• Focus on cost-competitive magnet solutions for mass-market EV applications
• Expansion of production facilities to meet soaring global demand

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6️⃣ 5. Arnold Magnetic Technologies

Headquarters: Rochester, New York, USA
Key Offering: Samarium Cobalt (SmCo) Magnets, Alnico, Custom Magnetic Assemblies

Arnold Magnetic Technologies specializes in high-performance permanent magnets and assemblies for critical automotive applications, including sensors, actuators, and motors. The company is known for its expertise in SmCo magnets, which offer excellent high-temperature performance.

Innovation and Sustainability Initiatives:

• Expertise in designing magnets for extreme automotive environments
• Development of lightweight magnetic solutions to improve vehicle efficiency
• Strong focus on aerospace and defense applications, with crossover benefits for automotive

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5️⃣ 6. Shin-Etsu Chemical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Rare Earth Magnets, Silicon Wafers, Functional Materials

Shin-Etsu Chemical is a diversified chemical giant and a leading global supplier of high-quality rare-earth magnets. Its magnetic materials division provides critical components for hybrid and electric vehicle motors, leveraging the company’s expertise in material science and chemical processing.

Innovation and Sustainability Initiatives:

• Vertically integrated supply chain from raw materials to finished magnets
• Continuous R&D to improve the magnetic properties and cost-effectiveness of NdFeB magnets
• Global production footprint to serve automotive customers in Asia, Europe, and North America

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4️⃣ 7. Daido Steel Co., Ltd.

Headquarters: Nagoya, Japan
Key Offering: Neodymium Magnets, Specialty Steels, Magnetic Powder Cores

Daido Steel is a major Japanese manufacturer of specialty steels and high-performance magnetic materials. The company’s magnetic products are essential for automotive electric motors, particularly in applications requiring high strength and thermal resistance.

Innovation and Sustainability Initiatives:

• Development of high-reliability magnets for automotive safety-critical systems
• Investment in advanced powder metallurgy techniques for superior magnet performance
• Long-standing partnerships with Japanese automotive OEMs and suppliers

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3️⃣ 8. Eclipse Magnetics Ltd.

Headquarters: Sheffield, United Kingdom
Key Offering: Magnetic Separators, Permanent Magnets, Magnetic Assemblies

Eclipse Magnetics is a UK-based specialist providing high-performance magnetic solutions for various industries, including automotive. The company focuses on custom magnetic assemblies for filtration, sensing, and holding applications within vehicles and manufacturing processes.

Innovation and Sustainability Initiatives:

• Expertise in designing magnetic solutions for automotive fluid systems and manufacturing
• Focus on delivering high-purity magnetic materials for sensitive applications
• Strong customer-centric approach with custom engineering services

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2️⃣ 9. Thomas & Skinner, Inc.

Headquarters: Indianapolis, Indiana, USA
Key Offering: Alnico Magnets, Samarium Cobalt, Laminated Steel

Thomas & Skinner has been a leading North American producer of permanent magnets for decades, serving the automotive industry with reliable magnetic materials for sensors, motors, and instrumentation. The company is known for its high-quality Alnico magnets.

Innovation and Sustainability Initiatives:

• Specialization in magnets for precision automotive sensors and meters
• Long history of supplying the North American automotive market
• Focus on niche applications requiring specific magnetic characteristics

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1️⃣ 10. Bunting Magnetics Co.

Headquarters: Newton, Kansas, USA
Key Offering: Permanent Magnets, Magnetic Assemblies, Separation Equipment

Bunting Magnetics is a prominent US manufacturer and distributor of a wide range of magnetic materials and assemblies. The company serves the automotive sector with components for motors, sensors, and material handling equipment used in vehicle production.

Innovation and Sustainability Initiatives:

• Comprehensive product portfolio catering to diverse automotive magnetic needs
• Strong distribution network across North America
• Custom engineering capabilities for specialized automotive applications

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🚗 Outlook: The Future of Automotive Magnetic Materials Is Electric and Efficient

The automotive magnetic materials market is undergoing a fundamental transformation. While traditional applications still consume significant volumes, the industry’s future is being reshaped by the electric vehicle revolution, which demands magnets with higher performance, greater temperature stability, and improved sustainability.

📈 Key Trends Shaping the Market:

• Explosive growth in demand for high-performance NdFeB magnets for EV traction motors
• Intense R&D focus on reducing or eliminating heavy rare-earth elements to lower costs and supply chain risks
• Increasing integration of advanced sensors and ADAS systems, driving demand for precision magnetic components
• Growing emphasis on material recycling and circular economy principles within the supply chain

Get Full Report Here:
Automotive Magnetic Materials Market – View in Detailed Research Report

The companies listed above are not only supplying critical components for today’s vehicles—they’re developing the advanced materials that will power the cleaner, smarter, and more efficient automobiles of tomorrow.