Asia Pacific Permanent Magnet Market Emerging Technologies, and Growth by Forecast 2031
The Asia Pacific Permanent Magnet Market size is expected to reach US$ 36,285.08 million by 2031 from US$ 18,743.52 million in 2024. The market is estimated to record a CAGR of 10.4% from 2025 to 2031.
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Executive Summary and Asia Pacific Permanent Magnet Market Analysis
The permanent magnet market in Asia P... moreAsia Pacific Permanent Magnet Market Emerging Technologies, and Growth by Forecast 2031
The Asia Pacific Permanent Magnet Market size is expected to reach US$ 36,285.08 million by 2031 from US$ 18,743.52 million in 2024. The market is estimated to record a CAGR of 10.4% from 2025 to 2031.
Get Full Report: https://www.businessmarketinsights.com/reports/asia-pacific-permanent-magnet-market
Executive Summary and Asia Pacific Permanent Magnet Market Analysis
The permanent magnet market in Asia Pacific is undergoing robust growth, fueled by the region’s aggressive push toward green energy, electrification, and advanced technologies. A key driver of this expansion is the rising demand for electric vehicles (EVs), propelled by the Asia Pacific Union’s stringent environmental regulations and its push for sustainable transportation. Permanent magnets—especially those used in high-efficiency permanent magnet synchronous motors (PMSMs)—are vital in EVs, making the automotive sector a significant contributor to market growth.
Asia Pacific Permanent Magnet Market Outlook
Asia Pacific's growing investment in renewable energy, particularly wind power, is boosting demand for permanent magnets used in wind turbine generators, particularly in direct-drive systems where efficiency is critical. The region's commitment to achieving carbon neutrality by 2050 under the Asia Pacific Green Deal is accelerating the adoption of clean energy and electrification, further driving the need for permanent magnets across sectors.
In response to global supply chain vulnerabilities, Asia Pacific is also prioritizing the development of a more resilient and sustainable supply of rare earth elements—critical raw materials for permanent magnet production. This includes initiatives to establish domestic mining and recycling infrastructure, reducing dependence on external suppliers, especially China. Additionally, the region’s industrial sectors—including robotics, automation, and aerospace—are seeing increased use of high-performance permanent magnets in motors, actuators, and sensors.
Asia Pacific Permanent Magnet Market: Country-Level Insights
Regionally, the Asia Pacific permanent magnet market is segmented into the United States, Canada, and Mexico, with the United States accounting for the largest market share in 2023.
In the U.S., the market is experiencing significant growth driven by strong demand across automotive, aerospace, and consumer electronics industries. The transition to electric vehicles is a primary factor, as automakers integrate permanent magnet-based motors into their EV models. Rare-earth permanent magnets are essential in electric motors for EVs, wind turbines, and other renewable energy technologies, creating strong demand for high-performance materials.
Moreover, the country’s ongoing efforts toward decarbonization, combined with federal incentives for EV adoption and renewable energy projects, are accelerating permanent magnet market growth. These trends are positioning the U.S. as a key player in the development and application of advanced magnet technologies within the Asia Pacific region.
Asia Pacific Permanent Magnet Market Segments Covered
Asia Pacific Permanent Magnet Market By Type
Neodymium-Iron-Boron
Ferrite
Samarium Cobalt
Alnico
Asia Pacific Permanent Magnet Market By Application
Consumer Electronics
Automotive
Aerospace and Defense
Medical
Industrial Machinery
Energy
Asia Pacific Permanent Magnet Market Regions and Countries Covered
Asia Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
Asia Pacific Permanent Magnet Market leaders and key company profiles
Shin-Etsu Chemical
Hitachi Metals
Toyota Tsusho Corporation
General Electric
TDK Corp
Armold Magnetic technologies
Galaxy Magnets
Goudsmit Magnetics
Electron Energy Corporation
Dexter Magnetic Technolgies
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
