Neodymium Iron Boron (NdFeB) Permanent Magnets Research Report 2026: $37.67 Bn Market Opportunities, Trends, Competitive Landscape, Strategies, and Forecasts, 2020-2025, 2025-2030F, 2035F
Dublin, April 24, 2026 (GLOBE NEWSWIRE) -- The "Neodymium Iron Boron (NdFeB) Permanent Magnets Market Report 2026" has been added to ResearchAndMarkets.com's offering.
The neodymium iron boron (NdFeB) permanent magnets market has experienced robust growth recently, with a projected expansion from $26.45 billion in 2025 to $28.34 billion by 2026, registering a compound annual growth rate (CAGR) of 7.1%. This growth trajectory can be linked to consumer electronics' miniaturization, increased demand for high-efficiency industrial motors, expansion of renewable energy sources like wind turbines, and a strong dependence on rare earth supply chains.
Forecasts indicate the NdFeB permanent magnets market will continue its upward climb, reaching $37.67 billion in 2030 with a CAGR of 7.4%. Factors propelling this growth include rising demand for electric vehicle traction motors, greater investment in advanced manufacturing methods, the need for lightweight magnetic components, expanding applications in medical device miniaturization, and a push towards recycling and sustainable rare earth sourcing. Emerging trends include a surge in demand for high-performance miniaturized magnets, development of high-temperature grade NdFeB magnets, adoption of corrosion-resistant coatings, and the utilization of 3D-printed magnet geometries.
The burgeoning demand for electric vehicles (EVs) is a significant driver for the NdFeB magnets market. EVs, reliant on high-performance permanent magnets like NdFeB for efficient motors, are on the rise due to stricter emission norms and a global shift towards clean mobility solutions. According to Kelley Blue Book, 2023 saw a record 1.2 million U.S. car buyers opting for EVs, representing 7.6% of the market, up from 5.9% in 2022.
To bolster supply chain resilience amid rising demand, companies in NdFeB magnets are expanding manufacturing capacities outside China. Initiatives aim to enhance production through new facilities and equipment upgrades. For instance, JS Link announced in 2025 a new production facility in Georgia, USA, expected to produce three kilotons of NdFeB magnets annually, with operations set for 2027, boosting non-Chinese supply capacity.
In May 2023, Neo Performance Materials acquired SG Technologies Group for $13.4 million, enhancing its NdFeB manufacturing capabilities in Europe. This move aims to support demand from sectors like electric vehicles, electronics, and clean energy. Key players in the market include TDK Corporation, Daido Steel, Neo Performance Materials, and more.
NdFeB permanent magnets are essential for their strong magnetic performance in compact applications. They are available in forms including bonded, sintered, and 3D-printed magnets, suited to various industry needs from automotive to medical devices. In essence, the NdFeB permanent magnets market is poised for continued growth, driven by technological advancements and increasing demand from electric mobility and sustainable energy sectors.
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