Mexico - North America Permanent Magnets Market Size & Outlook
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- Permanent Magnets Market Outlook
- Advanced Materials
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Mexico permanent magnets market highlights
- The Mexico permanent magnets market generated a revenue of USD 246.0 million in 2023 and is expected to reach USD 413.6 million by 2030.
- The Mexico market is expected to grow at a CAGR of 7.7% 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 246.0 million |
| Market revenue in 2030 | USD 413.6 million |
| Growth rate | 7.7% (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, Mexico accounted for 1.1% 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 North America, U.S. permanent magnets market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 413.6 million by 2030.
Mexico's GDP for 2023 is estimated at 1.8%, the highest in North America. On a y-o-y basis, the country’s GDP witnessed 3.6% growth in Q2 2023. Increasing private investment in electric vehicles, industrial, and consumer goods industry is anticipated to propel the demand for permanent magnets in the country over the forecast period.
The USMCA, a free trade agreement between the United States, Mexico, and Canada, became effective on July 1st, 2020. Over the past decade, the Mexican market has become a desirable location for production within the USMCA zone (previously known as NAFTA). Industries such as automotive, aerospace, electronics and consumer goods are investing billions in existing and new production capacities.
The Mexican government is worried about the rising commute times for its citizens and the increased air pollution caused by the daily transit of millions of vehicles between Mexico City and the metropolitan area. To address this issue, the Mexico City Government has developed a strategic plan to improve mobility by shifting to zero-emission vehicles for local transportation.
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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 |
Mexico - North 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 68.46% in 2023.
Horizon Databook has segmented the Mexico - North America permanent magnets market based on ferrite, alnico, ndfeb, smco covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico's GDP for 2023 is estimated at 1.8%, the highest in North America. On a y-o-y basis, the country’s GDP witnessed 3.6% growth in Q2 2023. Increasing private investment in electric vehicles, industrial, and consumer goods industry is anticipated to propel the demand for permanent magnets in the country over the forecast period.
The USMCA, a free trade agreement between the United States, Mexico, and Canada, became effective on July 1st, 2020. Over the past decade, the Mexican market has become a desirable location for production within the USMCA zone (previously known as NAFTA). Industries such as automotive, aerospace, electronics and consumer goods are investing billions in existing and new production capacities.
The Mexican government is worried about the rising commute times for its citizens and the increased air pollution caused by the daily transit of millions of vehicles between Mexico City and the metropolitan area. To address this issue, the Mexico City Government has developed a strategic plan to improve mobility by shifting to zero-emission vehicles for local transportation.
- Mexico - North America Permanent Magnets Market Material Outlook (Revenue, USD Million , 2018-2030)
- Ferrite
- Alnico
- NdFeB
- SmCo
- Mexico - North 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 country-level data and insights on the Mexico - North America Permanent Magnets Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - North America Permanent Magnets Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Mexico - North America Permanent Magnets Market, 2018-2030 (US$M)
Mexico Material - Permanent Magnets Market Statistics, 2023 - 2030 (Kilotons)
