Neodymium Iron Boron (NdFeB) Permanent Magnets Market Report 2026

Neodymium Iron Boron (NdFeB) Permanent Magnets Market Overview

• Neodymium Iron Boron (NdFeB) Permanent Magnets market size has reached to $26.45 billion in 2025 • Expected to grow to $37.67 billion in 2030 at a compound annual growth rate (CAGR) of 7.4% • Growth Driver: The Increasing Demand For Electric Vehicles And EV Motors Is Driving The Market Due To Rising Adoption Of Electric Mobility Requiring High Efficiency And High Performance Traction Motors For Vehicles • Market Trend: Expansion Of NdFeB Permanent Magnet Manufacturing Capacity Strengthens Non-Chinese Supply Chains • North America was the largest region in 2025 and Asia-Pacific is the fastest growing region.

What Is Covered Under Neodymium Iron Boron (NdFeB) Permanent Magnets Market?

Neodymium iron boron (NdFeB) permanent magnets are high-performance rare-earth magnets made from an alloy of neodymium, iron, and boron. They offer the strongest magnetic field strength among commercially available permanent magnets and maintain excellent magnetic properties in compact sizes. These magnets help to deliver powerful, efficient magnetic performance in lightweight and space-constrained applications. The main product forms of neodymium iron boron permanent magnets include bonded neodymium iron boron magnets, sintered neodymium iron boron magnets, injection moulded magnets, and 3D-printed magnets. Bonded neodymium iron boron magnets refer to magnets manufactured by combining neodymium, iron, and boron powders with a binding agent, offering design flexibility and ease of shaping. These magnets are available in small-sized magnets (up to 25 millimeters), medium-sized magnets (26 millimeters to 100 millimeters), and large-sized magnets (above 100 millimeters), and feature coatings such as nickel-copper-nickel, epoxy, gold, zinc plating, and passivation to enhance durability and corrosion resistance. The end users of neodymium iron boron permanent magnets include automotive companies, consumer electronics manufacturers, energy sector companies, industrial equipment manufacturers, medical device manufacturers, and other industrial and commercial organizations.

What Is The Neodymium Iron Boron (NdFeB) Permanent Magnets Market Growth Forecast?

The neodymium iron boron (ndfeb) permanent magnets market size is expected to see strong growth in the next few years. It will grow to $37.67 billion in 2030 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to accelerating demand for electric vehicle traction motors, increasing investment in advanced magnet manufacturing methods, rising need for lightweight high-strength magnetic components, expansion of medical device miniaturization applications, growing focus on recycling and sustainable rare earth sourcing. Major trends in the forecast period include high-performance miniaturized magnet demand, expansion of high-temperature grade ndfeb magnets, rising adoption of corrosion-resistant coatings, growth in customized magnetic assemblies, increasing use of 3d-printed magnet geometrieshigh-performance miniaturized magnet demand, expansion of high-temperature grade ndfeb magnets, rising adoption of corrosion-resistant coatings, growth in customized magnetic assemblies, increasing use of 3d-printed magnet geometries.

Global Neodymium Iron Boron (NdFeB) Permanent Magnets Market Segmentation

1) By Product Form: Bonded Neodymium Iron Boron (NdFeB) Magnets, Sintered Neodymium Iron Boron (NdFeB) Magnets, Injection Moulded Magnets, 3D-Printed Magnets 2) By Size: Small-sized Magnets (Up to 25mm), Medium-sized Magnets (26mm to 100mm), Large-sized Magnets (Above 100mm) 3) By Coating Type: Nickel-Copper-Nickel Coated, Epoxy Coated, Gold Coated, Zinc Plated, Passivated 4) By End-User: Automotive, Consumer Electronics, Energy, Industrial Equipment, Medical Devices, Other End-Users Subsegments: 1) By Bonded Neodymium Iron Boron (NdFeB) Magnets: Isotropic Bonded Neodymium Iron Boron (NdFeB) Magnets, Anisotropic Bonded Neodymium Iron Boron (NdFeB) Magnets, Compression Bonded Neodymium Iron Boron (NdFeB) Magnets, Injection Bonded Neodymium Iron Boron (NdFeB) Magnets 2) By Sintered Neodymium Iron Boron (NdFeB) Magnets: Standard Grade Sintered Neodymium Iron Boron (NdFeB) Magnets, High Temperature Grade Sintered Neodymium Iron Boron (NdFeB) Magnets, High Coercivity Sintered Neodymium Iron Boron (NdFeB) Magnets, Corrosion Resistant Sintered Neodymium Iron Boron (NdFeB) Magnets 3) By Injection Moulded Magnets: Radial Oriented Injection Moulded Neodymium Iron Boron (NdFeB) Magnets, Axial Oriented Injection Moulded Neodymium Iron Boron (NdFeB) Magnets, Thin Wall Injection Moulded Neodymium Iron Boron (NdFeB) Magnets, Insert Moulded Neodymium Iron Boron (NdFeB) Magnet Components 4) By 3D-Printed Magnets: Prototype 3D Printed Neodymium Iron Boron (NdFeB) Magnets, Complex Geometry 3D Printed Neodymium Iron Boron (NdFeB) Magnets, Lightweight Lattice 3D Printed Neodymium Iron Boron (NdFeB) Magnets, Custom Shaped 3D Printed Neodymium Iron Boron (NdFeB) Magnet Assemblies

What Is The Driver Of The Neodymium Iron Boron (NdFeB) Permanent Magnets Market?

The increasing demand for electric vehicles and EV motors is expected to propel the growth of the NdFeB permanent magnets market going forward. Electric vehicles use electric traction motors to convert electrical energy into mechanical motion, and these motors heavily rely on high-performance permanent magnets such as neodymium-iron-boron to achieve high torque, efficiency, and compact design. The demand for electric vehicles and EV motors is increasing due to stricter emission regulations and rising global adoption of clean mobility solutions aimed at reducing dependence on fossil fuels. The NdFeB permanent magnet supports electric vehicle growth by enabling the production of efficient, lightweight, and high-power-density motors required for modern EV drivetrains. For instance, in January 2024, according to a report published by Kelley Blue Book, a US-based Cox Automotive company, in 2023, a record 1.2 million car buyers in the United States chose electric vehicles, which accounted for 7.6% of the entire U.S. vehicle market, up from 5.9% in 2022. Therefore, the increasing demand for electric vehicles and EV motors is driving the growth of the NdFeB permanent magnets market.

Key Players In The Global Neodymium Iron Boron (NdFeB) Permanent Magnets Market

Major companies operating in the neodymium iron boron (ndfeb) permanent magnets market are TDK Corporation, Daido Steel Co Ltd, Proterial Co Ltd, Neo Performance Materials Inc, Hangzhou Permanent Magnet Group Co Ltd, Arnold Magnetic Technologies Corp, Chengdu Galaxy Magnets Co Ltd, Bunting Magnetics Co Inc, Dexter Magnetic Technologies Inc, Jai Mag Industries Pvt Ltd, Thomas Skinner Inc, Eclipse Magnetics Ltd, Electron Energy Corporation, U Polemag Industry Ltd, Beijing Topmag Magnetic Co Ltd, Adams Magnetic Products Co, Permanent Magnets Ltd, JS Link Co Ltd, Zhobao Magnet Co Ltd, and Stanford Magnets Ltd.

Global Neodymium Iron Boron (NdFeB) Permanent Magnets Market Trends and Insights

Major companies operating in the NdFeB permanent magnets market are focusing on expanding manufacturing capacity outside China to strengthen supply chain resilience and meet growing demand from electric vehicles, renewable energy systems, and advanced industrial applications. Manufacturing capacity expansions are aimed at increasing production capacity by building new plants, upgrading machinery, or expanding current operations. These efforts support higher output levels, improve supply chain resilience, and enhance overall market competitiveness. For instance, in September 2025, JS Link, a South Korea-based producer of rare-earth permanent magnets, announced the construction of a new NdFeB magnet production facility in Georgia, United States. The facility is designed to produce approximately three kilotons of NdFeB magnets annually, with commercial production expected to begin in late 2027. This development significantly enhances non-Chinese NdFeB magnet supply capacity and supports rising demand from electric mobility, clean energy technologies, and advanced industrial systems.

What Are Latest Mergers And Acquisitions In The Neodymium Iron Boron (NdFeB) Permanent Magnets Market?

In May 2023, Neo Performance Materials, a Canada-based provider of rare-earth materials, acquired SG Technologies Group for approximately $13.4 million. With this acquisition, Neo aims to move further up the value chain by expanding its NdFeB magnet manufacturing capabilities in Europe, strengthening regional supply chains, and supporting growing demand from electric vehicles, electronics, and clean energy applications. SG Technologies Group is a UK-based provider of high-performance rare-earth-based magnets, including NdFeB.

Regional Outlook

North America was the largest region in the NdFeB permanent magnets market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Neodymium Iron Boron (NdFeB) Permanent Magnets Market?

The neodymium iron boron permanent magnets (NdFeB) market consists of sales of rare earth permanent magnet blocks, rings and segments, high-performance magnetic assemblies, and customized neodymium iron boron permanent magnets (NdFeB) magnet components. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Neodymium Iron Boron (NdFeB) Permanent Magnets Market Report 2026?

The neodymium iron boron (ndfeb) permanent magnets market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the neodymium iron boron (ndfeb) permanent magnets industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.