The Global Neodymium-Iron-Boron (NdFeB) Magnet Market was valued at USD 17.8 Billion in 2023 and is projected to reach USD 31.2 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period (2024–2030). This robust growth is fueled by skyrocketing demand from the electric vehicle (EV) industry, the expansion of wind power generation, and the continuous miniaturization of consumer electronics, all of which rely heavily on the superior magnetic strength of NdFeB magnets.

As the world accelerates its transition toward electrification and renewable energy, the spotlight is on the key material suppliers who are driving innovation, securing supply chains, and enabling next-generation technologies. In this blog, we profile the Top 10 Companies in the Neodymium-Iron-Boron Magnet Industry—a group of global giants and specialized manufacturers shaping the magnetic core of modern industry.

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

Headquarters: Tokyo, Japan
Key Offering: NEOMAX® Series NdFeB Magnets

Hitachi Metals, renowned for its NEOMAX brand, has been a pioneer in NdFeB magnet technology since its inception. Following its transition to Proterial, the company continues to be a global leader, supplying high-performance magnets for automotive motors, hard disk drives, and industrial equipment. Their focus on high coercivity and thermal stability makes them a preferred partner for demanding applications.

Innovation and Sustainability Initiatives:

• Development of high-remanence, high-coercivity grades for EV traction motors

• Investment in recycling technologies to recover rare earth elements from end-of-life products

• Commitment to reducing the heavy rare earth content in magnets without compromising performance

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9️⃣ 2. TDK Corporation

Headquarters: Tokyo, Japan
Key Offering: NEOREC Series Sintered NdFeB Magnets

TDK is a global electronics giant with a formidable presence in the magnetic materials sector. Its NEOREC series of sintered NdFeB magnets are critical components in high-efficiency motors for automotive, industrial, and appliance markets. TDK’s vertical integration and strong R&D capabilities allow it to deliver tailored solutions for specific customer needs.

Innovation and Sustainability Initiatives:

• Leading the development of magnets for next-generation e-mobility solutions

• Focus on supply chain resilience and diversification of raw material sources

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8️⃣ 3. Shin-Etsu Chemical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: High-performance Sintered NdFeB Magnets

Shin-Etsu Chemical is one of the world’s largest producers of rare earth magnets. The company boasts a comprehensive product portfolio that serves the automotive, industrial motor, and audio speaker markets. Its technological expertise lies in producing magnets with exceptional magnetic properties and reliability.

Innovation and Sustainability Initiatives:

• Expansion of production capacity to meet soaring EV demand

• R&D into grain boundary diffusion processes to enhance magnet performance

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

Headquarters: Hanau, Germany
Key Offering: VACODYM® (Sintered) and VACOMAX® (SmCo) Magnets

VAC is a leading European manufacturer of high-performance magnetic materials. Its VACODYM brand of sintered NdFeB magnets is essential for automotive sensors, wind turbines, and medical technology. VAC is known for its high-quality standards and strong customer collaboration, particularly within the European automotive and industrial sectors.

Innovation and Sustainability Initiatives:

• Strategic partnerships with European automakers for e-drive magnet supply

• Investment in a new magnet production plant in Slovakia to bolster EU supply security

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6️⃣ 5. Beijing Zhong Ke San Huan High-Tech Co., Ltd.

Headquarters: Beijing, China
Key Offering: Sintered and Bonded NdFeB Magnets

As one of China’s largest and most prominent NdFeB magnet producers, Zhong Ke San Huan plays a crucial role in the global supply chain. The company has strong ties to the Chinese Academy of Sciences and is a key supplier for domestic and international customers in the electronics, automotive, and wind power industries.

Innovation and Sustainability Initiatives:

• Mass production of high-grade magnets for new energy vehicles

• Active participation in China’s strategic development of the rare earth industry

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5️⃣ 6. Yantai Zhenghai Magnetic Material Co., Ltd.

Headquarters: Yantai, Shandong, China
Key Offering: Sintered NdFeB Magnets & Magnetic Assemblies

Yantai Zhenghai is a major Chinese manufacturer specializing in the production of sintered NdFeB magnets and custom magnetic assemblies. The company serves a diverse global clientele across sectors including automotive, wind power, and consumer electronics, competing on both quality and cost-effectiveness.

Innovation and Sustainability Initiatives:

• Continuous improvement in manufacturing automation and precision

• Expansion into value-added magnetic assembly services

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4️⃣ 7. Ningbo Yunsheng Co., Ltd.

Headquarters: Ningbo, Zhejiang, China
Key Offering: High-performance Sintered NdFeB Magnets

Ningbo Yunsheng is a leading force in China’s magnet industry, with a significant market share both domestically and internationally. The company produces a wide range of NdFeB magnet grades and is a critical supplier for voice coil motors (VCMs) in hard disk drives and various motor applications.

Innovation and Sustainability Initiatives:

• Focus on R&D for automotive-grade magnet applications

• Strategies to manage price volatility of rare earth raw materials

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3️⃣ 8. JL MAG Rare-Earth Co., Ltd.

Headquarters: Ganzhou, Jiangxi, China
Key Offering: Sintered NdFeB Magnets

JL MAG is one of the fastest-growing NdFeB magnet producers globally. With production bases located in the heart of China’s rare earth region, the company has a strategic advantage in raw material sourcing. It has become a key supplier for European and American automotive OEMs seeking reliable magnet sources for their electric vehicle programs.

Innovation and Sustainability Initiatives:

• Rapid capacity expansion to capture growing EV market share

• Establishment of overseas facilities to cater to local demand and mitigate supply chain risks

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2️⃣ 9. Earth-Panda Advanced Magnetic Material Co., Ltd.

Headquarters: Jingdezhen, Jiangxi, China
Key Offering: Sintered NdFeB Magnets for Automotive and Industrial Use

Earth-Panda specializes in manufacturing high-end sintered NdFeB magnets, with a particular focus on the automotive sector. The company is certified by numerous global automotive suppliers and OEMs, underscoring its commitment to quality and reliability in producing magnets for precision motors and sensors.

Innovation and Sustainability Initiatives:

• Specialization in magnets for electric power steering (EPS) and other automotive applications

• Implementation of stringent quality control systems for automotive-grade production

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1️⃣ 10. Goulding & Co., LLC (Arnold Magnetic Technologies)

Headquarters: Rochester, New York, USA
Key Offering: High-performance Permanent Magnets, including NdFeB

Arnold Magnetic Technologies, a subsidiary of Goulding & Co., is a key Western producer of advanced magnetic solutions. While offering a broad range of magnetic materials, its capabilities in manufacturing and machining high-performance NdFeB magnets are critical for aerospace, defense, and medical technology applications where precision and reliability are paramount.

Innovation and Sustainability Initiatives:

• Focus on high-reliability applications in aerospace and defense

• Development of custom magnetic assemblies for critical systems

Get Full Report Here: Neodymium-Iron-Boron Magnet Market – View in Detailed Research Report

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🧭 Outlook: The Future of NdFeB Magnets Is Driven by Electrification and Supply Chain Resilience

The NdFeB magnet market is experiencing a paradigm shift. While traditional applications like consumer electronics remain strong, the explosive growth of the electric vehicle and renewable energy sectors is reshaping demand patterns and strategic priorities.

📈 Key Trends Shaping the Market:

• Electric Vehicle Revolution: EV traction motors are the single largest growth driver, demanding high-volume, high-performance magnet production.

• Supply Chain Diversification: Geopolitical concerns and raw material dependency on China are prompting efforts to establish production and recycling facilities in North America and Europe.

• Technological Innovation: R&D focuses on reducing or eliminating heavy rare earth elements (Dysprosium, Terbium) to lower costs and improve supply stability.

• Sustainability and Recycling: Increased emphasis on developing efficient processes to recover rare earths from electronic waste, creating a circular economy for critical materials.

Get Full Report Here: Neodymium-Iron-Boron Magnet Market – View in Detailed Research Report

The companies listed above are not only supplying essential components—they are enabling the technological transformation of transportation, energy, and industry.