Bonded Magnet Market Size

The global bonded magnet market size was valued at $2.38 billion in 2024 and is projected to reach $3.61 billion by 2030, growing at a CAGR of 7.2% during the forecast period.

Bonded Magnet Market Overview

A bonded magnet is a type of permanent magnet composed of magnetic powders, typically ferrite or rare-earth materials, that are mixed with a polymer binder and then molded or pressed into the desired shape. This process allows for complex shapes and intricate designs, offering flexibility in magnet production. The binding agent enhances the magnet's structural integrity while maintaining its magnetic properties. Bonded magnets exhibit excellent corrosion resistance and are cost-effective to manufacture. Their versatility and adaptability make them suitable for various applications, ranging from automotive components and consumer electronics to industrial machinery. The bonding process enables precise customization, making bonded magnets a popular choice in industries where specific shapes and magnetic characteristics are crucial for optimal performance.

Bonded Magnet Market Dynamics

• The bonded magnet market is expected to witness significant growth in the future due to the advancements in 3d printing technology and rising demand in printing bonded magnets.

• Additionally, the technological advancements in magnet manufacturing, growing demand for compact and lightweight electronic devices, and the increased adoption of bonded magnets in automotive applications are the prominent factors driving the growth of the bonded magnet market.

• However, the fluctuating prices of rare-earth materials and environmental and regulatory challenges in magnet production are restraining the market growth.

• On the contrary, the emerging applications in renewable energy systems and expansion in healthcare and medical device industries are creating opportunities for the market growth.

Impact of COVID-19 on the Bonded Magnet Market

The COVID-19 pandemic has significantly impacted the bonded magnet market, causing disruptions across the supply chain and influencing market dynamics. The widespread economic slowdown led to a decline in manufacturing activities and disrupted the production of bonded magnets. Restrictions on movement and international trade also affected the transportation of raw materials, impacting the overall production capacity of bonded magnet manufacturers. Moreover, the reduced consumer spending and uncertainties in various industries, such as automotive and electronics, led to a decrease in demand for products incorporating bonded magnets. The global economic downturn and supply chain challenges posed hurdles for companies operating in the bonded magnet market. The lasting impact of the pandemic on the bonded magnet market is contingent on the pace of recovery in key industries and the ability of manufacturers to adapt to the evolving market conditions.

By End User, the Electrical and Electronics Segment is projected to be the Largest Segment in the Bonded Magnet Market

The Electrical and Electronics segment is projected to be the largest segment in the Bonded Magnet market during the forecast period owing to the indispensable role these magnets play in the manufacturing of a wide array of electronic devices. Bonded magnets find extensive use in the miniaturized components of consumer electronics, such as smartphones, laptops, and audio devices, where their ability to be precisely molded into intricate shapes proves crucial. Their lightweight nature and high magnetic strength make them ideal for applications in motors, sensors, and actuators within electronic systems.

Moreover, the growing trend toward compact and energy-efficient electronic devices has propelled the adoption of bonded magnets in various products, contributing to the overall surge in demand. The continuous innovation and evolution of electronic technologies further drive the need for specialized magnets with tailored magnetic properties, a demand that bonded magnets, with their versatile manufacturing capabilities, are well-equipped to meet. As the electrical and electronics industry continues to advance, the demand for bonded magnets is expected to remain robust, underlining their essential role in the functionality and miniaturization of modern electronic devices.

By Geography, Asia Pacific Region Holds the Dominant Position in the Market Revenue

Asia Pacific region holds the dominant position in the market revenue due to the robust growth of key industries such as electronics, automotive, and industrial manufacturing in countries like China, Japan, and South Korea. These magnets are integral components in various electronic devices, automotive applications, and industrial machinery. Additionally, the region's increasing focus on renewable energy sources has led to a rising demand for bonded magnets in wind turbines and other green technologies. The Asia Pacific's manufacturing process, coupled with its reputation as a global production hub, has attracted significant investments in the bonded magnet sector. Moreover, the presence of a vast consumer market for electronic goods and automobiles in countries like China and India has further stimulated the demand for bonded magnets. The region's economic growth, technological advancements, and strategic initiatives in key industries collectively contribute to the burgeoning demand for bonded magnets in the Asia Pacific market.

Key Target Audience:

• Raw Material Suppliers

• Electronics and Electrical Equipment Manufacturers

• Aerospace and Defense Industries

• Research and Development Institutions

• Regulatory Authorities

• End-users (Consumer Electronics, Automotive, Industrial Machinery)

List of the Key Players Profiled in the Report Includes:

• Advanced Technology Materials Co. Ltd.

• Alliance LLC

• Allstar Magnetics

• Arnold Magnetic Technologies

• Dexter Magnetic Technologies

• Evitron

• Hitachi, Ltd

• Magnequench International

• MS-Schramberg GmbH & Co. KG

• Stanford Magnets

• Viona Magnetics

Recent Developments:

• In March 2022, Dexter Magnetic Holdings, LLC has revealed its acquisition of Magnetic Component Engineering, LLC. The acquisition, is made by Dexter, owned by TSL Engineered Products, LLC, majority-owned by Tinicum L.P. and affiliated funds managed by Tinicum Incorporated. This acquisition enhances their combined ability to provide a comprehensive range of design-engineered and build-to-print solutions, consolidating their market presence under the Dexter and MCE brands.

• In March 2021, Arnold Magnetic Technologies Corporation completed the acquisition of Ramco Electric Motors, Inc., a prominent manufacturer specializing in the production of stators, rotors, and complete electric motors. The acquisition of Ramco significantly expands Arnold's diverse product portfolio by incorporating top-tier electric motor solutions capabilities. Furthermore, the integration with Ramco brings valuable relationships with key strategic customers, extending across diverse markets, including industrial, military, and aerospace applications.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Process:

• Injection Molded Bonded Magnets

• Compression Bonded Magnets

• Calendaring Bonded Magnets

• Extrusion Bonded Magnets

Market by, Product:

• Rare Earth Magnets

• Ferrite Magnets

• Hybrid

Market by, End User:

• Automotive and Transportation

• Heating, Ventilation, and Air Conditioning (HVAC) Equipment

• Medical

• Electrical and Electronics

• Industrial

• Military & Aerospace

• Power Generation

Market by, Geography:

The bonded magnet report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis

• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

What can be explored with this research report:

• Understand the key trends that will drive the market and the challenges it faces in the current market scenario.

• Identify growth opportunities.

• Porter's five force analysis.

• In-depth analysis of market segments, and regions/countries predicted to observe promising growth.

• Historical and forecast size of the market in terms of revenue (USD Million).

• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.