Product Code: GVR-4-68040-826-8
Ferrite Magnet Market Summary
The global ferrite magnet market size was estimated at USD 5.96 billion in 2024 and is projected to reach USD 10.52 billion by 2033, growing at a CAGR of 6.5% from 2025 to 2033. The increasing demand for cost-effective, high-performance permanent magnets across automotive, consumer electronics, and industrial machinery applications is a significant factor driving market growth.
Ferrite magnets continue to gain preference due to their strong magnetic properties, excellent corrosion resistance, and lower production costs compared to rare-earth magnets, making them well-suited for mass-production environments.
Sustainability has emerged as a significant catalyst for the growth of the ferrite magnets industry, as industries increasingly shift toward environmentally responsible materials. Unlike rare-earth magnets, which rely on resource-intensive mining and processing, ferrite magnets are produced using abundant raw materials such as iron oxide and strontium carbonate, resulting in a lower environmental impact and reduced supply-chain risks. Their long service life, corrosion resistance, and recyclability further strengthen their appeal in applications where durability and circular economy principles are prioritized. As governments and corporations intensify efforts to decarbonize industrial operations and improve energy efficiency, ferrite magnets are steadily becoming a preferred alternative for high-volume applications in electric motors, appliances, and power tools.
On the technology front, ongoing advancements in material science and manufacturing techniques are significantly enhancing the performance potential of ferrite magnets. Innovations in powder metallurgy, grain boundary optimization, and sintering processes have led to higher magnetic anisotropy and improved heat resistance, enabling ferrite magnets to penetrate more demanding applications that were previously dominated by neodymium-based magnets. The integration of automation and digital monitoring in production lines is also improving dimensional precision and consistency, reducing defect rates and enabling mass customization for OEMs. With rapid progress in electric drivetrain engineering, robotics, and innovative consumer devices, technology-driven improvements are expected to expand the application scope of ferrite magnets over the next decade.
Global Ferrite Magnet Market Report Segmentation
This report forecasts global, country, and regional revenue growth and analyzes the latest trends in each sub-segment from 2021 to 2033. For this study, Grand View Research has segmented the global ferrite magnet market report based on the application and region:
- Application Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)
- Automotive
- Consumer Goods & Electronics
- Industrial
- Medical
- Energy
- Aerospace & Defense
- Others
- Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)
- North America
- Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- Latin America
- Middle East & Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Global Permanent Magnet Outlook
- 3.2. Value Chain Analysis
- 3.2.1. Equipment/ Raw Material Trends
- 3.3. Type Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Industry Trends
- 3.6. Porter's Five Forces Analysis
- 3.6.1. Bargaining Power of Suppliers
- 3.6.2. Bargaining Power of Buyers
- 3.6.3. Threat of Substitution
- 3.6.4. Threat of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTLE Analysis
- 3.7.1. Political
- 3.7.2. Economic
- 3.7.3. Social Landscape
- 3.7.4. Technology
- 3.7.5. Environmental
- 3.7.6. Legal
Chapter 4. Ferrite Magnets Market: Application Estimates & Trend Analysis
- 4.1. Ferrite Magnets Market: Application Movement Analysis, 2024 & 2033
- 4.2. Application Outlook (Revenue, USD Million; Volume, Kilotons; 2021 - 2033)
- 4.3. Automotive
- 4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.4. Consumer Goods & Electronics
- 4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.5. Industrial
- 4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.6. Medical
- 4.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.7. Energy
- 4.7.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.8. Aerospace & Defense
- 4.8.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.9. Others
- 4.9.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
Chapter 5. Ferrite Magnets Market: Regional Estimates & Trend Analysis
- 5.1. Regional Analysis, 2024 & 2033
- 5.2. North America
- 5.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.2.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.2.3. U.S.
- 5.2.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.2.3.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.2.4. Canada
- 5.2.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.2.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.2.5. Mexico
- 5.2.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.2.5.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.3. Europe
- 5.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.3.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.3.3. Germany
- 5.3.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.3.3.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.3.4. UK
- 5.3.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.3.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.3.5. France
- 5.3.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.3.5.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.3.6. Russia
- 5.3.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.3.6.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.4. Asia Pacific
- 5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.4.3. China
- 5.4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.4.3.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.4.4. India
- 5.4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.4.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.4.5. Japan
- 5.4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.4.5.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.4.6. Australia
- 5.4.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.4.6.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.5. Latin America
- 5.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.5.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.5.3. Brazil
- 5.5.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.5.3.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.6. Middle East & Africa
- 5.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.6.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.6.3. South Africa
- 5.6.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.6.3.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 5.6.4. Iran
- 5.6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.6.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
Chapter 6. Competitive Landscape
- 6.1. Recent Developments & Impact Analysis, By Key Market Participants
- 6.2. Kraljic Matrix
- 6.3. Company Categorization
- 6.4. Heat Map Analysis
- 6.5. Vendor Landscape
- 6.5.1. List of Raw Material/Equipment/Type Suppliers
- 6.5.2. List of Other Prominent Manufacturers
- 6.6. List of Prospective End-Users
- 6.7. Strategy Mapping
- 6.8. Company Profiles/Listing
- 6.8.1. Arnold Magnetic Technologies
- 6.8.1.1. Company Overview
- 6.8.1.2. Financial Performance
- 6.8.1.3. Product Benchmarking
- 6.8.2. Electron Energy Corporation (EEC)
- 6.8.2.1. Company Overview
- 6.8.2.2. Financial Performance
- 6.8.2.3. Product Benchmarking
- 6.8.3. Magengine Co., Ltd.
- 6.8.3.1. Company Overview
- 6.8.3.2. Financial Performance
- 6.8.3.3. Product Benchmarking
- 6.8.4. Ningbo Yunsheng Co., Ltd.
- 6.8.4.1. Company Overview
- 6.8.4.2. Financial Performance
- 6.8.4.3. Product Benchmarking
- 6.8.5. Proterial Ltd.
- 6.8.5.1. Company Overview
- 6.8.5.2. Financial Performance
- 6.8.5.3. Product Benchmarking
- 6.8.6. Shin-Etsu Chemical Co., Ltd.
- 6.8.6.1. Company Overview
- 6.8.6.2. Financial Performance
- 6.8.6.3. Product Benchmarking
- 6.8.7. Sinosteel New Materials
- 6.8.7.1. Company Overview
- 6.8.7.2. Financial Performance
- 6.8.7.3. Product Benchmarking
- 6.8.8. TDK Corporation
- 6.8.8.1. Company Overview
- 6.8.8.2. Financial Performance
- 6.8.8.3. Product Benchmarking
- 6.8.9. Tianshui Hengtong Group
- 6.8.9.1. Company Overview
- 6.8.9.2. Financial Performance
- 6.8.9.3. Product Benchmarking
- 6.8.10. XHMAG
- 6.8.10.1. Company Overview
- 6.8.10.2. Financial Performance
- 6.8.10.3. Product Benchmarking