The Global Magnetic Materials for New Energy Vehicle Market was valued at USD 685 Million in 2023 and is projected to reach USD 1,475.51 Million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 8.90% during the forecast period (2023–2032). This growth is being driven by surging electric vehicle adoption worldwide, the critical role of high-performance permanent magnets like neodymium iron boron (NdFeB) in efficient motors, and increasing demand for soft magnetic materials in inverters and powertrains across passenger and commercial vehicles.

As the new energy vehicle industry accelerates toward electrification, efficiency, and sustainability, the spotlight is on the key magnetic materials suppliers who are driving innovation, advanced manufacturing, and reliable supply chains. In this blog, we profile the Top 10 Companies in the Magnetic Materials for New Energy Vehicle Industry—a mix of Japanese pioneers, Chinese powerhouses, and global specialists in permanent and soft magnetic materials shaping the future of EV propulsion systems.

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🔟 1. Zhenghai Magnetic Material

Headquarters: Ningbo, China
Key Offering: NdFeB permanent magnets, sintered magnets for EV motors

Zhenghai Magnetic Material stands out as a leading Chinese producer of high-performance neodymium magnets tailored for new energy vehicles. The company supplies critical components for permanent magnet synchronous motors (PMSMs) used in major EV models. With advanced sintering technologies, Zhenghai ensures magnets that deliver superior magnetic strength and heat resistance, essential for high-speed EV drivetrains. Their production facilities emphasize scalability to meet the booming demand from domestic and international automakers.

Innovation Initiatives:

• Development of low-dysprosium NdFeB magnets to reduce rare earth dependency

• Expanded capacity for automotive-grade magnets through new production lines

• Collaborations with EV manufacturers for customized motor solutions

Download FREE Sample Report:
Global Magnetic Materials for New Energy Vehicle Market – View in Detailed Research Report

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9️⃣ 2. AT&M (Advanced Technology & Materials)

Headquarters: Beijing, China
Key Offering: Permanent magnets, soft magnetic composites for EV applications

AT&M is a prominent player in China’s magnetic materials sector, providing a wide range of permanent magnets for electric vehicle motors and generators. Their expertise spans from rare-earth based NdFeB to ferrite alternatives, offering cost-effective options for mass-market EVs. The company’s integrated supply chain from raw materials to finished components supports reliable delivery to global OEMs, helping optimize motor efficiency and reduce vehicle weight.

Innovation Initiatives:

• Research into grain boundary diffusion for enhanced coercivity

• Supply partnerships with leading Chinese EV brands

• Focus on recycling technologies for rare earth recovery

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8️⃣ 3. JPMF (Jiangmen Perfect Magnet)

Headquarters: Jiangmen, China
Key Offering: Sintered NdFeB magnets, bonded magnets for NEV motors

JPMF specializes in precision-engineered magnets that power the drivetrains of new energy vehicles. Known for their high remanence and energy products, JPMF’s magnets enable compact, lightweight motors that boost range and performance. Operating large-scale facilities, the company caters to both passenger cars and commercial fleets, adapting to the diverse needs of the EV market.

Innovation Initiatives:

• Advancements in heavy rare earth-free magnet technologies

• Quality control systems for automotive certification

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7️⃣ 4. Ningbo Yunsheng

Headquarters: Ningbo, China
Key Offering: High-performance NdFeB magnets, motor assemblies for EVs

Ningbo Yunsheng is a key supplier of neodymium magnets critical for permanent magnet motors in electric vehicles. Their products feature exceptional thermal stability, making them ideal for high-power applications in extended-range EVs. With a strong focus on R&D, the company continuously improves magnet grades to meet stricter efficiency standards set by global regulators.

Innovation Initiatives:

• Investment in nano-scale coating for corrosion resistance

• Vertical integration from powder to magnet production

• Strategic exports to European and North American markets

Download FREE Sample Report:
Global Magnetic Materials for New Energy Vehicle Market – View in Detailed Research Report

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6️⃣ 5. DMEGC Magnetics

Headquarters: Ningbo, China
Key Offering: Permanent magnetic materials, EV traction motor magnets

DMEGC Magnetics excels in producing sintered NdFeB magnets optimized for the harsh operating conditions of EV motors. Their materials contribute to higher torque density and energy efficiency, directly impacting vehicle range. The company’s global footprint ensures supply chain resilience amid fluctuating raw material prices.

Innovation Initiatives:

• Heavy rare earth diffusion processes for cost reduction

• Certifications for international automotive standards

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5️⃣ 6. Zhong Ke San Huan Hi-Tech

Headquarters: Beijing, China
Key Offering: NdFeB and SmCo magnets, soft magnetic alloys

Zhong Ke San Huan Hi-Tech leverages decades of expertise to deliver advanced magnetic solutions for new energy vehicles. Specializing in both permanent and soft magnets, they support everything from main traction motors to auxiliary systems. Their state-backed R&D drives breakthroughs in magnet performance.

Innovation Initiatives:

• Hybrid magnet designs combining NdFeB with ferrites

• Sustainable sourcing of rare earth elements

• Expansion into high-frequency soft magnets for inverters

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4️⃣ 7. TDK Corporation

Headquarters: Tokyo, Japan
Key Offering: Bonded magnets, ferrite magnets, soft magnetic materials

TDK Corporation brings Japanese precision to the EV magnet market, offering bonded and ferrite magnets that balance cost and performance. Ideal for hybrid vehicles and smaller motors, their solutions integrate seamlessly with power electronics. TDK’s global operations facilitate just-in-time delivery to automakers.

Innovation Initiatives:

• Next-gen ferrite materials for higher efficiency

• Integration of magnets with sensor technologies

Download FREE Sample Report:
Global Magnetic Materials for New Energy Vehicle Market – View in Detailed Research Report

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3️⃣ 8. Shin-Etsu Chemical

Headquarters: Tokyo, Japan
Key Offering: NdFeB sintered magnets, rare earth processing

As one of the world’s largest rare earth magnet producers, Shin-Etsu Chemical supplies premium NdFeB magnets for flagship EV models. Their magnets achieve top-tier magnetic properties, enabling slimmer motors with superior power output. Backward integration into rare earth mining ensures stable supply.

Innovation Initiatives:

• Grain refinement for ultra-high coercivity

• Rare earth recycling programs

• Joint ventures for localized production

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2️⃣ 9. Hitachi Metals Group (Proterial)

Headquarters: Tokyo, Japan
Key Offering: Advanced NdFeB magnets, magnetic alloys for EV motors

Hitachi Metals, now operating as Proterial, is renowned for its high-end permanent magnets used in premium EVs. Their proprietary manufacturing yields magnets with exceptional resistance to demagnetization, crucial for high-temperature operations. Extensive patents protect their edge in magnet design.

Innovation Initiatives:

• Nano-structured magnets for increased energy density

• Collaborations with Japanese automakers on next-gen EVs

• Sustainability goals targeting 100% recycled rare earths

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1️⃣ 10. JL MAG Rare-Earth Co., Ltd.

Headquarters: Ningde, China
Key Offering: Sintered NdFeB magnets, full motor magnet assemblies

JL MAG tops the list as the largest NdFeB magnet producer globally, dominating the supply for EV motors. With massive production capacity, they equip millions of vehicles annually, focusing on high-consistency magnets that enhance drivetrain reliability. Their scale drives down costs for widespread EV adoption.

Innovation Initiatives:

• World-leading capacity expansions to meet 2030 EV targets

• Low-heavy-rare-earth magnets reducing material costs

• End-to-end solutions from magnet to stator integration

Read Full Report:
Global Magnetic Materials for New Energy Vehicle Market – View in Detailed Research Report

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🌍 Outlook: The Future of Magnetic Materials for New Energy Vehicles Is High-Efficiency and Sustainable

The magnetic materials market for new energy vehicles is evolving rapidly. While permanent magnets like NdFeB dominate motor applications by weight and performance, investments are surging into soft magnetic materials for power electronics and recycling technologies to secure rare earth supplies. Asia-Pacific, led by China, accounts for the lion’s share of production and consumption, fueled by domestic EV policies.

📈 Key Trends Shaping the Market:

• Explosive growth in NdFeB demand driven by passenger vehicle EVs

• Regulatory mandates boosting EV penetration in China, EU, and US

• Shift toward heavy rare earth-reduced and recycled magnets

• OEM-magnet supplier alliances for integrated powertrain development

Read Full Report:
Global Magnetic Materials for New Energy Vehicle Market – View in Detailed Research Report

The companies listed above are not only powering global EV fleets—they’re spearheading the magnetic materials revolution essential for the sustainable mobility era.