The Global Permanent Magnetic Materials Market was valued at USD 12.1 Billion in 2024 and is projected to reach USD 20.87 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period (2024–2032). This growth is being driven by surging demand in electric vehicles, renewable energy systems, and advanced industrial automation, coupled with the accelerating adoption of High-Performance Rare Earth Magnets across consumer electronics, automotive, and energy sectors.
As global industries accelerate their transition toward electrification and energy efficiency, the spotlight is on the key magnetic material suppliers who are driving innovation, performance optimization, and sustainable manufacturing pathways. In this blog, we profile the Top 10 Companies in the Permanent Magnetic Materials Industry—a mix of rare earth specialists, ferrite producers, and advanced material innovators shaping the future of green technology.
🔟 1. Beijing Zhong Ke San Huan Hi-Tech
Headquarters: Beijing, China
Key Offering: NdFeB Magnets, SmCo Magnets, Bonded Magnets
Beijing Zhong Ke San Huan Hi-Tech is one of China’s leading rare earth magnet manufacturers, specializing in high-performance neodymium magnets for automotive, industrial, and renewable energy applications. The company maintains extensive R&D capabilities in sintered and bonded magnet technologies, supplying major EV manufacturers and wind turbine producers worldwide.
Sustainability Initiatives:
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Developing reduced heavy rare earth magnet formulations
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Strategic focus on sustainable magnet recycling technologies
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Expanding production capacity for high-temperature automotive applications
Download FREE Sample Report: Permanent Magnetic Materials Market – View in Detailed Research Report
9️⃣ 2. Proterial Ltd. (formerly Hitachi Metals)
Headquarters: Tokyo, Japan
Key Offering: NEOMAX® NdFeB Magnets, Ferrite Magnets
Proterial stands as a global technology leader in rare earth permanent magnets, with its NEOMAX® brand achieving global recognition for performance and reliability. The company supplies critical components to automotive, industrial equipment, and energy infrastructure sectors globally.
Sustainability Initiatives:
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World’s first mass production of dysprosium-free NdFeB magnets for EV traction motors, demonstrating leadership in sustainable material development.
8️⃣ 3. JL MAG Rare-Earth Co., Ltd.
Headquarters: Ningbo, China
Key Offering: Sintered NdFeB Magnets, Hot-Pressed MagnetsJL MAG Rare-Earth has rapidly emerged as a major global supplier of high-performance sintered NdFeB magnets, particularly for automotive and wind power applications. The company’s rapid growth stems from strategic positioning in the EV supply chain and wind energy sector.
Sustainability Initiatives:
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Strategic partnerships with major automotive OEMs worldwide
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Capacity expansion targeting 25,000 tons/year by 2026
7️⃣ 4. TDK Corporation
Headquarters: Tokyo, Japan
Key Offering: Ferrite Magnets, Neodymium MagnetsTDK Corporation maintains a dominant position in ferrite magnet production while expanding its rare earth magnet portfolio. The company’s technological expertise spans multiple magnetic material categories and applications.
Sustainability Initiatives:
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Development of high-efficiency ferrite materials for power electronics
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Focus on miniaturization and performance enhancement for consumer electronics
6️⃣ 5. Shin-Etsu Chemical Co., Ltd.
Headquarters: Tokyo, Japan
Key Offering: Ferrite Magnets, Bonded NdFeB MagnetsShin-Etsu Chemical has established itself as a key global supplier of rare earth magnets and magnetic materials. The company leverages its chemical expertise to develop advanced magnet formulations with improved thermal stability and corrosion resistance.
Sustainability Initiatives:
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Advanced manufacturing processes reducing environmental impact
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Global expansion of ferrite magnet production capacity
Download FREE Sample Report: Permanent Magnetic Materials Market – View in Detailed Research Report
5️⃣ 6. DMEGC (Dongyang Permanent Magnet Factory)
Headquarters: Dongyang, China
Key Offering: Sintered Ferrite Magnets, Neodymium MagnetsDMEGC specializes in ferrite permanent magnet production, serving diverse industrial applications including automotive sensors, home appliances, and industrial motors.
Sustainability Initiatives:
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Focus on cost-effective magnet solutions for high-volume applications
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Strategic focus on energy-efficient motor applications
4️⃣ 7. Guangdong JPMF GUANGLONG Permanent Magnet Factory (JPMF)
Headquarters: Guangdong, China
Key Offering: Sintered NdFeB, Bonded MagnetsGuangdong JPMF has established itself as a significant player in China’s permanent magnet industry, with expanding production capabilities across multiple magnet types and grades.
Sustainability Initiatives:
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Development of specialized magnet grades for specific industrial applications
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Expanding export markets for automotive and industrial applications
3️⃣ 8. Sinomag Technology Co., Ltd.
Headquarters: Ningbo, China
Key Offering: Sintered NdFeB Magnets, Injection Molded MagnetsSinomag focuses on advanced bonded magnet technologies, offering complex-shaped magnets with tight tolerances for precision applications.
Sustainability Initiatives:
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Focus on bonded magnet innovations for automotive and electronics sectors
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Strategic partnerships with international automotive suppliers
2️⃣ 9. Union Materials Inc.
Headquarters: Incheon, South Korea
Key Offering: Ferrite Magnets, Alnico MagnetsUnion Materials stands as South Korea’s leading permanent magnet manufacturer, serving both domestic and international markets with a focus on technical-grade magnetic materials.
Sustainability Initiatives:
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Development of high-temperature resistant magnet grades
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Expanding production capabilities for rare earth magnets
1️⃣ 10. BGRIMM Magnetic Materials & Technology Co., Ltd.
Headquarters: Beijing, China
Key Offering: Sintered NdFeB Magnets, Ferrite MagnetsBGRIMM Magnetic Materials specializes in research, development, and production of high-performance permanent magnetic materials. The company maintains strong affiliations with academic research institutions, driving innovations in magnet composition and manufacturing processes.
Sustainability Initiatives:
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Focus on developing specialized magnet grades for defense and aerospace applications.
Sustainability Initiatives:
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Development of advanced rare earth magnet formulations
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Strategic collaborations with wind turbine manufacturers
Read Full Report: Permanent Magnetic Materials Market – View in Detailed Research Report
🌍 Outlook: The Future of Permanent Magnetic Materials Is Smarter and More Sustainable
The permanent magnetic materials market is undergoing fundamental transformation. While traditional ferrite magnets still dominate in volume, the industry is increasingly focused on developing and scaling production of advanced rare earth permanent magnets that drive the global transition to clean energy and sustainable transportation.
📈 Key Trends Shaping the Market:
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Rare earth magnet capacity expansion across China, Japan, and Europe
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Regulatory incentives accelerating adoption in green technology applications
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Digitalization of magnet supply chains and quality control processes
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Manufacturer-automaker alliances for custom magnet development
Read Full Report: Permanent Magnetic Materials Market – View in Detailed Research Report
The companies listed above are not only powering global industries—they’re spearheading the technology transformation of the global economy.
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