China Permanent Magnets Market Size & Outlook, 2023-2030
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- Advanced Materials
- Permanent Magnets Market Outlook
- Advanced Materials
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China permanent magnets market highlights
- The China permanent magnets market generated a revenue of USD 13,842.6 million in 2023 and is expected to reach USD 25,894.6 million by 2030.
- The China market is expected to grow at a CAGR of 9.4% from 2024 to 2030.
- In terms of segment, ndfeb was the largest revenue generating material in 2023.
- NdFeB is the most lucrative material segment registering the fastest growth during the forecast period.
Permanent magnets market data book summary
| Market revenue in 2023 | USD 13,842.6 million |
| Market revenue in 2030 | USD 25,894.6 million |
| Growth rate | 9.4% (CAGR from 2024 to 2030) |
| Largest segment | Ndfeb |
| Fastest growing segment | NdFeB |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Ferrite, Alnico, NdFeB, SmCo |
| Key market players worldwide | EARTH PANDA ADVANCED MAGNETIC MATERIAL CO LTD, Adams Magnetic Products, Arnold Magnetic Technologies, Daido Steel, Eclipse Magnetics, Electron Energy Corporation, Hangzhou Permanent Magnet Group, Magnequench International, Ningbo Yunsheng, Ningbo Ninggang Permanent Magnetic Materials Co., Shin-Etsu Chemical Co Ltd, TDK Corp, Thomas Skinner, VACUUMSCHMELZE, Umag, SsangYong, Pacific Metals |
Other key industry trends
- In terms of revenue, China accounted for 62.4% of the global permanent magnets market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China permanent magnets market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,382.7 million by 2030.
China, GDP is forecast to grow at 5.2% in 2023, as per IMF. The country imposed a zero COVID policy in June 2022 that adversely impacted its GDP. The easing of COVID-19 restrictions by the government of the country in December 2022 gave a boost to investor sentiment that helped revive the pace of different ongoing projects in China.
Also, increasing automotive production is expected to drive the permanent magnet market in the said forecast period. Based on information provided by the China Passenger Cars Association (CPCA) for 2022, the sales volume for new energy passenger vehicles within the country reached 5,304,000 units.
This represents a significant increase of 90.0% compared to the previous year and accounts for 27.62% of the total sales volume for passenger vehicles.
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Publish Date: Mar 16, 2026
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Permanent Magnets Market Scope
Permanent Magnets Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Shin-Etsu Chemical Co Ltd | View profile | 25,717 | 6-1, Ohtemachi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-0004 | www.shinetsu.co.jp |
| TDK Corp | View profile | 102,908 | Shibaura Renasite Tower, 3-9-1 Shibaura, Minato-ku, Tokyo, Japan | www.tdk.co.jp |
| Arnold Magnetic Technologies | View profile | 501-1000 | Rochester, New York, United States, North America | www.arnoldmagnetics.com/ |
| VACUUMSCHMELZE | View profile | 1001-5000 | Hanau, Hessen, Germany, Europe | www.vacuumschmelze.com/ |
| Adams Magnetic Products | View profile | 101-250 | Elmhurst, Illinois, United States, North America | adamsmagnetic.com |
| EARTH PANDA ADVANCED MAGNETIC MATERIAL CO LTD | View profile | 501-1000 | Hefei, Anhui, China, Asia | www.earth-panda.com |
| Daido Steel | View profile | 10001+ | Nagoya, Aichi, Japan, Asia | www.daido.co.jp/ |
| Eclipse Magnetics | View profile | 101-250 | Sheffield, Sheffield, United Kingdom, Europe | www.eclipsemagnetics.com/ |
| Electron Energy Corporation | View profile | 101-250 | Landisville, New Jersey, United States, North America | electronenergy.com |
| Hangzhou Permanent Magnet Group | View profile | 101-250 | Hangzhou, Zhejiang, China, Asia | chinahpmg.com |
China Permanent Magnets Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Permanent Magnets Market Outlook will help companies and investors design strategic landscapes.
Ndfeb was the largest segment with a revenue share of 71.95% in 2023.
Horizon Databook has segmented the China permanent magnets market based on ferrite, alnico, ndfeb, smco covering the revenue growth of each sub-segment from 2018 to 2030.
China, GDP is forecast to grow at 5.2% in 2023, as per IMF. The country imposed a zero COVID policy in June 2022 that adversely impacted its GDP. The easing of COVID-19 restrictions by the government of the country in December 2022 gave a boost to investor sentiment that helped revive the pace of different ongoing projects in China.
Also, increasing automotive production is expected to drive the permanent magnet market in the said forecast period. Based on information provided by the China Passenger Cars Association (CPCA) for 2022, the sales volume for new energy passenger vehicles within the country reached 5,304,000 units.
This represents a significant increase of 90.0% compared to the previous year and accounts for 27.62% of the total sales volume for passenger vehicles.
- China Permanent Magnets Market Material Outlook (Revenue, USD Million , 2018-2030)
- Ferrite
- Alnico
- NdFeB
- SmCo
- China Permanent Magnets Market Application Outlook (Revenue, USD Million , 2018-2030)
- Automotive
- Consumer Goods & Electronics
- Industrial
- Medical
- Energy
- Aerospace & Defense
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the China Permanent Magnets Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into China Permanent Magnets Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
China Permanent Magnets Market, 2018-2030 (US$M)
China Material - Permanent Magnets Market Statistics, 2023 - 2030 (US$M)
