The global rare earth magnet market is expected to grow at a CAGR of around 6.7% during 2024-2033. This report on global rare earth magnet market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape. The report presents a clear picture of the global rare earth magnet market by segmenting the market based on type, application, and region. Also, detailed profiles of companies operating in the rare earth magnet market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision.

Market Drivers
• Rising Environmental Protection Norms
• Investments in Asian Economies

Market Challenges
• High Costs

Historical & Forecast Period

Base Year: 2023
Historical Period: 2019-2023
Forecast Period: 2024-2033

Market by Type
• Neodymium-Iron-Boron (NdFeB) Magnets
• Samarium-Cobalt (SmCo) Magnets

Market by Application
• NdFeB Magnets
o Automobile
o Electronics
o Power Generators
o Medical Industry
o Wind Power
o Others
• SmCo Magnets
o Defense
o Aerospace
o Electronics
o Medical Devices
o Others

Market by Region
• Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Russia
o Netherlands
o Rest of Europe
• North America
o United States
o Canada
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Rest of Asia Pacific
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o Turkey
o Iran
o United Arab Emirates
o Rest of Middle East & Africa