Electronic Device Magnets Market Size
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What Is the Expected CAGR for the Electronic Device Magnets Market Through 2025?
The market size of magnetic devices in the electronics sector has shown robust growth in the recent past. It is projected to swell from $27.33 billion in 2024 to $29.68 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.6%. The notable rise during the historical period can be tied back to the expansion of personal computing, increasing mobile computing trends, the implementation of BYOD (bring your own device) rules, acceptance of cloud computing, security anxieties, and regulatory compliance needs.
What’s the Projected Size of the Global Electronic Device Magnets Market by 2029?
Anticipated to see robust expansion in the upcoming years, the electronic device magnets market is forecasted to reach $41.03 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.4%. Factors contributing to this prediction for the forecasting period include the adoption of hybrid work structures, advancements in artificial intelligence (AI) and machine learning (ml), emphasis on employee wellness, incorporation of virtual and augmented reality, as well as concerns and resolutions related to cybersecurity. Throughout the forecast period, significant trends to be noted include the merger and integration of technology, issues surrounding data privacy and governance, digital transformation in enterprises, a shift towards cloud-oriented end-user computing (EUC) solutions, and the increased adoption of unified endpoint management.
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Top Growth Drivers in the Electronic Device Magnets Industry: What’s Accelerating the Market?
The electronic device magnet market’s growth is being driven by increased demand for compact and efficient magnets. These magnets, characterized by their high magnetic strength and small sizes, are commonly used in domains such as industrial automation, robotics, electric vehicles, and the proliferation of renewable energy. They contribute to electronic devices by providing functions such as sensors, actuators, and data storage which enhance miniaturization, energy efficiency, and overall device performance as a result of proficient magnet integration. For example, in June 2022, the Bureau of Industry and Security (BIS), which is a U.S. government agency, stated that the U.S. largely depends on imports for its supply of sintered NdFeB magnets. In 2021, 75% of this supply was sourced from China, with Japan, the Philippines, and Germany contributing the remaining 9%, 5%, and 4% respectively. Thus, this increasing demand for compact and efficient magnets is fueling the expansion of the electronic device magnet market.
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Which Emerging Trends Are Transforming the Electronic Device Magnets Market in 2025?
Prominent enterprises functioning within the electronic device magnet market are fostering new technologies such as clean earth magnet technology. This strategy helps minimize the cost incurred for magnets incorporated into electronic device manufacturing. Clean earth magnet technology entails the crafting of permanent magnets using iron nitride, which is not only abundant and cheap but also eco-friendly. For example, Niron Magnetics, an American startup that specialises in creating sustainable magnets devoid of rare earth materials for electric vehicles and various electronic gadgets, developed clean earth magnets using iron nitride in 2023. This material is not just abundant but also less costly than the rare-earth minerals. These magnets perform at par, or even better, than those composed of rare earth elements. Such magnets find usage in consumer electronics, industrial motors, pumps, compressors, wind turbines and multiple other goods.
What Are the Main Segments in the Electronic Device Magnets Market?
The electronic device magnets market covered in this report is segmented –
1) By Product Type: Ferrite Magnets, Neodymium Magnets, Samarium Cobalt Magnets, Alnico Magnets
2) By Material Type: Permanent Magnets, Electromagnets
3) By End User: Consumer Electronics, Aerospace and Defense, Industrial and Automation, Healthcare, Automotive, Energy, Consumer Goods, Others
Subsegments:
1) By Ferrite Magnets: Soft Ferrite Magnets, Hard Ferrite Magnets
2) By Neodymium Magnets: Sintered Neodymium Magnets, Bonded Neodymium Magnets
3) By Samarium Cobalt Magnets: SmCo5 Magnets, Sm2Co17 Magnets
4) By Alnico Magnets: Cast Alnico Magnets, Sintered Alnico Magnets
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Which Top Companies are Driving Growth in the Electronic Device Magnets Market?
Major companies operating in the electronic device magnets market report are Shin-Etsu Chemical Co. Ltd., TDK Corporation, Hitachi Metals Ltd., Yantai Shougang Magnetic Materials Inc., Vacuumschmelze GmbH & Co. KG, Yantai Zhenghai Material Co. Ltd., Arnold Magnetic Technologies, Hangzhou Permanent Magnet Group, Thomas & Skinner Inc., Magx America Inc., Bunting Magnetics Co., Industrial Magnetics Inc., Electron Energy Corporation, Magnum Magnetics Corporation, Viona Magnetics, JPMF Guangdong Co. Ltd., Ninggang Permanent Magnetic Materials Co. Ltd., Intermetallics Japan Corporation, Ningbo Co-Star Materials Hi-Tech Co. Ltd., Risheng Magnets International Co. Ltd., Molycor*p Magnequench, Permanent Magnets Ltd., Magnetic Hold Inc., OneMonroe (Monroe Engineering Products), Magnetic Component Engineering, Integrated Magnetics, Magnet Technology
Which Regions Will Dominate the Electronic Device Magnets Market Through 2029?
Asia Pacific was the largest region in the electronic device magnets market in 2024. The regions covered in the electronic device magnets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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