Latin America Permanent Magnets Market Size & Outlook
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- Advanced Materials
- Permanent Magnets Market Outlook
- Advanced Materials
Global Market
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Latin America permanent magnets market highlights
- The Latin America permanent magnets market generated a revenue of USD 657.9 million in 2023.
- The market is expected to grow at a CAGR of 6% from 2024 to 2030.
- In terms of segment, ndfeb was the largest revenue generating material in 2023.
- SmCo is the most lucrative material segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 657.9 million |
| Market revenue in 2030 | USD 987.4 million |
| Growth rate | 6% (CAGR from 2024 to 2030) |
| Largest segment | Ndfeb |
| Fastest growing segment | SmCo |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 3.0% of the global permanent magnets market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 30,774.5 million by 2030.
The growth of the permanent magnets market in Central & South America can be attributed to the rising investments by automobile manufacturers and increasing construction activities in the region. For instance, in November 2021, Volkswagen decided to invest USD 1.06 billion in its automobile production facilities in South America.
The investment was made by the company to stay competitive in the market in this region and increase its profitability. Also, to achieve carbon emission goals the governments across the region are shifting their focus toward electric vehicles.
For instance, in April 2022, the Government of Chile announced its target of having 100% electricity-driven new vehicles in the country by 2035. Such measures undertaken by governments of different countries in the region are anticipated to positively impact the demand for permanent magnets in Central & South America during the forecast period, thereby contributing to the growth of the market.
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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 |
Latin America 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 66.07% in 2023.
Horizon Databook has segmented the Latin America permanent magnets market based on ferrite, alnico, ndfeb, smco covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the permanent magnets market in Central & South America can be attributed to the rising investments by automobile manufacturers and increasing construction activities in the region. For instance, in November 2021, Volkswagen decided to invest USD 1.06 billion in its automobile production facilities in South America.
The investment was made by the company to stay competitive in the market in this region and increase its profitability. Also, to achieve carbon emission goals the governments across the region are shifting their focus toward electric vehicles.
For instance, in April 2022, the Government of Chile announced its target of having 100% electricity-driven new vehicles in the country by 2035. Such measures undertaken by governments of different countries in the region are anticipated to positively impact the demand for permanent magnets in Central & South America during the forecast period, thereby contributing to the growth of the market.
- Latin America Permanent Magnets Market Material Outlook (Revenue, USD Million , 2018-2030)
- Ferrite
- Alnico
- NdFeB
- SmCo
- Latin America 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 continent-level data and insights on the Latin America Permanent Magnets Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Latin America Permanent Magnets Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Latin America Permanent Magnets Market, 2018-2030 (US$M)
Latin America Material - Permanent Magnets Market Statistics, 2023 - 2030 (US$M)
