Bonded Magnet Market is Growing at 7.8% CAGR by 2035 | Fact.MR Report

Analysis of Bonded Magnet Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries

ROCKVILLE, MD, UNITED STATES, July 15, 2025 /EINPresswire.com/ -- Bonded Magnet Market is projected to grow significantly, rising from USD 6,524.9 million in 2025 to USD 13,828.1 million by 2035, at a robust CAGR of 7.8%. Fueled by increasing adoption in electric vehicles (EVs), industrial automation, and consumer electronics, bonded magnets are becoming indispensable due to their lightweight structure, design flexibility, and compatibility with high-precision components. This press release explores key growth drivers, projections, and opportunities for stakeholders in this dynamic industry.

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Why Is the Market Growing?

The Bonded Magnet Market is expanding due to surging demand in the automotive sector, particularly for EVs, which accounted for 26% of global bonded magnet sales in 2021. Bonded magnets, made by combining magnetic powders like neodymium-iron-boron (NdFeB) or ferrite with polymer binders, offer superior strength and flexibility for complex shapes, making them ideal for EV motors and sensors. The global EV market, projected to reach 34 million units by 2030, drives this demand, supported by policies like the U.S. Inflation Reduction Act and China’s “Made in China 2025” initiative. Advancements in injection molding and additive manufacturing have reduced production costs by 15%, enhancing scalability. Challenges like raw material supply constraints, with China controlling 90% of rare earth elements, are mitigated through recycling innovations and alternative sourcing strategies.

What Are the Key Market Projections?

The market is expected to grow from USD 6,524.9 million in 2025 to USD 13,828.1 million by 2035, with a 7.8% CAGR, creating a USD 7,303.2 million opportunity. The rare earth magnets segment, particularly NdFeB, holds nearly a third of the market share and is projected to grow at an 8.9% CAGR, driven by its use in electronics and automotive applications. The sensors segment, accounting for 25% of market valuation, is expected to surge at a 9% CAGR through 2032, fueled by demand in automation and EVs. East Asia, with a 40% share in 2022, leads due to China’s manufacturing dominance, while Europe’s market grows at a 7.3% CAGR, gaining 109 basis points by 2032. Historical growth from 2017 to 2021 was at a 4.2% CAGR, with an absolute dollar opportunity of USD 1.3 billion, indicating accelerating momentum.

How Can Stakeholders Leverage Opportunities?

Stakeholders in automotive, electronics, and industrial sectors can capitalize on the market’s growth by investing in high-performance bonded magnets, particularly NdFeB and hybrid variants. Manufacturers can leverage innovations like hybrid magnet systems, combining bonded magnets with plastics, as seen in developments by TDK Corporation in 2024, to enhance thermal stability and reduce weight. Strategic partnerships, such as Hitachi Metals’ 2023 collaboration with EV manufacturers, expand production capacity for motor applications. Targeting Asia-Pacific, particularly China and India, with projected CAGRs of 5.4% and 5.3% through 2034, offers significant potential due to manufacturing and EV growth. Direct sales and e-commerce channels, accounting for 30% of sales in 2024, provide scalable distribution. Compliance with environmental regulations, like the EU’s RoHS directive, ensures market trust and competitiveness.

What Does the Report Cover?

Fact.MR’s report combines primary research with 3,220 industry players across 30 countries and secondary analysis of market trends. It covers market segments by product type (rare earth magnets, bonded ferrite magnets, others), process type (injection molded, compression, calendaring, extrusion), application (sensors, motors, hard disk drives, level gauges, instrument panels, copier rotors, fuel filters, magnetic couplings), end use (automotive, HVAC equipment, medical devices, cameras, consumer electronics, computers and magnetic storage devices, electrical equipment, measurement instruments, printers and copiers), and region (North America, Latin America, Europe, East Asia, South Asia & Oceania, Middle East & Africa).

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Who Are the Market Leaders?

Key players include TDK Corporation, Hitachi Metals, Ltd., Ningbo Yunsheng Co. Ltd., Advanced Technology Materials Co. Ltd., Magnequench International, Arnold Magnetic Technologies, and Neo Performance Materials. In 2024, TDK introduced hybrid bonded magnets for EV motors, improving efficiency by 10%. Hitachi Metals expanded its NdFeB production capacity in 2023 to meet automotive demand. These companies, holding over 40% of the market share, drive innovation through R&D, acquisitions, and partnerships with automotive and electronics firms, ensuring leadership in high-growth applications.

What Are the Latest Market Developments?

In 2024, the bonded magnet market saw a 12% demand surge, driven by EV production reaching 14 million units globally. Innovations in calendaring bonded magnets, projected to reach USD 6.8 billion by 2032 at an 8.3% CAGR, enhanced their dominance in sensor and motor applications. China’s market, supported by the “Made in China 2025” initiative, grew at a 5.4% CAGR, while Germany’s market expanded at 5.9% due to automation advancements. Regulatory support, like the EU’s push for energy-efficient technologies, boosted adoption of bonded magnets in wind turbines and EVs. Recycling initiatives, such as those by Magnequench International in 2024, reduced reliance on rare earth imports by 15%, addressing supply chain vulnerabilities.

What Challenges and Solutions Exist?

Supply chain vulnerabilities, with China controlling 90% of rare earth materials, and price volatility, with neodymium costs up 12% in 2024, pose challenges. Environmental concerns over mining and disposal, noted by 60% of industry respondents in 2023, also impact growth. Solutions include advanced recycling processes, like those adopted by Magnequench International, recovering 20% of rare earth materials. Innovations in hybrid bonded magnets, combining NdFeB with composites, reduce material costs by 10%.

Conclusion:

The Global Bonded Magnet Market is set to reach USD 13,828.1 million by 2035, driven by a 7.8% CAGR. With applications in electric vehicles, industrial automation, and consumer electronics, and supported by innovations in manufacturing and sustainable practices, the market offers transformative opportunities. Stakeholders can leverage Fact.MR’s insights to target high-growth regions like Asia-Pacific, invest in advanced magnet technologies, and address supply chain challenges to thriveCheck out More Related Studies Published by Fact.MR:

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S. N. Jha
Fact.MR
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