Delray Beach, FL, Aug. 24, 2025 (GLOBE NEWSWIRE) — In terms of value, the Permanent Magnet Market is projected to reach USD 88.51 billion by 2030, from USD 58.87 billion in 2025, with a CAGR of 8.5%, as per the recent study by MarketsandMarkets™. Permanent magnets are materials that generate a persistent magnetic field without needing an external source. Even after the removal of a magnetic force, these magnets can retain their magnetism for a long time. They are made from hard ferromagnetic materials that attract or repel certain metals or other magnets. The demand for high-performance magnets is expected to grow rapidly, driven by increasing needs from the environmental and energy sectors for grid storage applications. The global push for the adoption of EVs is another major factor contributing to the rising demand for permanent magnets.
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Browse in-depth TOC on “Permanent Magnet Market”
200 – Market Data Tables
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List of Key Players in Permanent Magnet Market:
- Proterial, Ltd. (Japan),
- Arnold Magnetic Technologies (US),
- TDK Corporation (Japan),
- Yantai Dongxing Magnetic Materials Inc. (China),
- Shin-Etsu Chemical Co., Ltd. (Japan),
- Electron Energy Corporation (US),
- Adams Magnetic Products, LLC (US),
- Bunting Magnetics Co. (US),
- Tengam Engineering, Inc. (US),
- Dexter Magnetic Technologies (US),
Drivers, Opportunities and Challenges in Permanent Magnet Market:
- Drivers: Rise in new installations of wind turbines
- Restraint: Fluctuating raw material cost of rare earth magnets.
- Opportunity: Increasing demand for …