Bonded Magnet Decade Long Trends, Analysis and Forecast 2025-2033

Key Insights

The global bonded magnet market size was valued at USD 1155 million in 2025 and is projected to grow at a compound annual growth rate (CAGR) of 6.3% from 2025 to 2033. The increasing demand for bonded magnets in automotive, electrical & electronics, and home appliances is primarily driving the market growth. Bonded magnets find extensive applications in electric motors, sensors, loudspeakers, and magnetic resonance imaging (MRI) machines due to their strong magnetic properties and ability to be molded into complex shapes.

Key market trends include the growing adoption of electric vehicles (EVs) and the increasing penetration of smart devices. EVs require high-performance magnets for electric motors and generators, while smart devices utilize bonded magnets in actuators, sensors, and vibration motors. The Asia Pacific region is expected to hold the largest market share due to the increasing demand from automotive and electronics industries in China, India, and South Korea.

Bonded Magnet Trends

The global bonded magnet market is anticipated to witness significant growth over the forthcoming years, primarily driven by the rising demand from various end-use industries such as automotive, electronics, and healthcare. These magnets are widely used in motors, sensors, actuators, and other applications, owing to their compact size, high magnetic strength, and cost-effectiveness. Moreover, the growing adoption of electric vehicles and the increasing automation in manufacturing processes are further fueling the demand for bonded magnets.

The trend towards miniaturization and the development of new materials are also contributing to the growth of the bonded magnet market. For instance, neodymium-iron-boron (NdFeB) magnets are becoming increasingly popular due to their high energy density and compact size, making them ideal for use in small electronic devices and automotive applications.

Driving Forces: What's Propelling the Bonded Magnet Market?

Several factors are driving the growth of the bonded magnet market, including:

• Rising demand from automotive industry: Bonded magnets are used in various automotive applications such as electric motors, power steering systems, and anti-lock braking systems. The growing demand for electric vehicles and the increasing electrification of traditional vehicles are driving the demand for bonded magnets in the automotive sector.
• Increasing automation in manufacturing: Bonded magnets are used in a wide range of automated systems, including robotics, conveyor systems, and machine tools. The growing adoption of automation in manufacturing processes is fueling the demand for bonded magnets.
• Development of new materials: The development of new materials with improved magnetic properties is also driving the growth of the bonded magnet market. For instance, neodymium-iron-boron (NdFeB) magnets have higher energy density and compact size compared to traditional ferrite magnets.
• Growing adoption in healthcare: Bonded magnets are used in various medical devices such as MRI scanners, pacemakers, and surgical instruments. The increasing demand for healthcare services and the development of new medical technologies are driving the demand for bonded magnets in the healthcare sector.

Challenges and Restraints in Bonded Magnet Market

Despite the growth potential, the bonded magnet market also faces certain challenges and restraints:

• Raw material price volatility: The prices of raw materials used in the production of bonded magnets, such as rare earth elements, can fluctuate significantly. This can impact the cost and profitability of bonded magnet manufacturers.
• Competition from alternative technologies: Bonded magnets face competition from alternative technologies such as electromagnets and permanent magnets. These technologies offer certain advantages, such as higher magnetic strength or lower cost, which can limit the growth of the bonded magnet market.
• Environmental concerns: The mining and processing of rare earth elements used in the production of bonded magnets can have environmental impacts. This can lead to increased regulation and pressure on manufacturers to adopt sustainable practices.

Key Region or Country & Segment to Dominate the Market

The Asia-Pacific region is expected to dominate the global bonded magnet market due to the strong demand from automotive, electronics, and other end-use industries. China, Japan, and South Korea are the major markets in this region.

In terms of segments, the automotive segment is expected to account for the largest share of the bonded magnet market. The growing demand for electric vehicles and the increasing electrification of traditional vehicles are driving the demand for bonded magnets in the automotive sector.

Growth Catalysts in Bonded Magnet Industry

The growth of the bonded magnet industry is being driven by several catalysts, including:

• Government support: Governments in various countries are supporting the development and adoption of bonded magnets through initiatives such as research grants and tax incentives. This support is expected to boost the growth of the bonded magnet industry in the coming years.
• Technological advancements: The development of new materials and manufacturing techniques is leading to the production of bonded magnets with improved properties. These advancements are expected to expand the applications of bonded magnets and drive the growth of the industry.
• Increasing awareness: The growing awareness of the benefits of bonded magnets in various end-use industries is also contributing to the growth of the industry. This awareness is being driven by manufacturers, distributors, and industry associations through various initiatives such as conferences, webinars, and technical papers.

Leading Players in the Bonded Magnet Market

• Galaxy Magnets
• Zhong Ke San Huan Hi-Tech
• Daido Electronics
• IMA
• Ningbo Yunsheng
• Arnold Magnetic Technologies
• TDK
• MS-Schramberg
• DMEGC
• Sen Long Corporation
• Jiangmen Magsource
• AT & M

Significant Developments in Bonded Magnet Sector

The bonded magnet sector has witnessed several significant developments in recent years, including:

• Introduction of new materials: The development of new materials such as neodymium-iron-boron (NdFeB) magnets with higher energy density and compact size has expanded the applications of bonded magnets.
• Advancements in manufacturing techniques: The development of new manufacturing techniques such as injection molding and pressing has improved the quality and efficiency of bonded magnet production.
• Growing adoption in electric vehicles: The growing demand for electric vehicles has led to increased demand for bonded magnets, which are used in electric motors and other components.
• Increasing awareness of environmental concerns: The growing awareness of environmental concerns has led to increased demand for bonded magnets made from recycled materials.

Comprehensive Coverage Bonded Magnet Report

A comprehensive coverage bonded magnet report provides insights into the latest market trends, drivers, challenges, and opportunities in the industry. The report includes detailed analysis of market segments, key players, and regional markets. This report is a valuable resource for companies looking to gain a deeper understanding of the bonded magnet market and make informed decisions.

Bonded Magnet Segmentation

• 1. Type
  • 1.1. Overview: Global Bonded Magnet Consumption Value
  • 1.2. Plastic Injected Magnets
  • 1.3. Plastic Pressed Magnets
• 2. Application
  • 2.1. Overview: Global Bonded Magnet Consumption Value
  • 2.2. Automotive
  • 2.3. Electrical & Electronics
  • 2.4. Home Appliance
  • 2.5. Medical & Healthcare Devices
  • 2.6. Others

Bonded Magnet Segmentation By Geography

• 1. North America
  • 1.1. United States
  • 1.2. Canada
  • 1.3. Mexico
• 2. South America
  • 2.1. Brazil
  • 2.2. Argentina
  • 2.3. Rest of South America
• 3. Europe
  • 3.1. United Kingdom
  • 3.2. Germany
  • 3.3. France
  • 3.4. Italy
  • 3.5. Spain
  • 3.6. Russia
  • 3.7. Benelux
  • 3.8. Nordics
  • 3.9. Rest of Europe
• 4. Middle East & Africa
  • 4.1. Turkey
  • 4.2. Israel
  • 4.3. GCC
  • 4.4. North Africa
  • 4.5. South Africa
  • 4.6. Rest of Middle East & Africa
• 5. Asia Pacific
  • 5.1. China
  • 5.2. India
  • 5.3. Japan
  • 5.4. South Korea
  • 5.5. ASEAN
  • 5.6. Oceania
  • 5.7. Rest of Asia Pacific