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    US Permanent Magnet Market

    ID: MRFR/E&P/16747-HCR
    100 Pages
    Garvit Vyas
    October 2025

    US Permanent Magnet Market

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    US Permanent Magnet Market Infographic
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    US Permanent Magnet Market Summary

    The US Permanent Magnet market is projected to grow from 23.45 USD Billion in 2024 to 38.67 USD Billion by 2035, reflecting a robust CAGR of 4.65%.

    Key Market Trends & Highlights

    US Permanent Magnet Key Trends and Highlights

    • The market valuation is expected to reach 38.67 USD Billion by 2035, indicating substantial growth potential.
    • From 2025 to 2035, the market is anticipated to expand at a CAGR of 4.65%, showcasing a steady upward trend.
    • In 2024, the market is valued at 23.45 USD Billion, highlighting its current significance in the industry.
    • Growing adoption of electric vehicles due to increasing demand for sustainable transportation is a major market driver.

    Market Size & Forecast

    2024 Market Size 23.45 (USD Billion)
    2035 Market Size 38.67 (USD Billion)
    CAGR (2025 - 2035) 4.65%

    Major Players

    Apple Inc (US), Microsoft Corp (US), Amazon.com Inc (US), Alphabet Inc (US), Berkshire Hathaway Inc (US), Meta Platforms Inc (US), Tesla Inc (US), Johnson & Johnson (US), Visa Inc (US), Procter & Gamble Co (US)

    Key Companies in the US Permanent Magnet Market market include

    FAQs

    What is the expected market size of the US Permanent Magnet Market in 2024?

    The US Permanent Magnet Market is projected to be valued at 5.8 billion USD in 2024.

    What is the anticipated market size for the US Permanent Magnet Market by 2035?

    By 2035, the US Permanent Magnet Market is expected to reach a value of 16.0 billion USD.

    What is the expected compound annual growth rate (CAGR) for the US Permanent Magnet Market from 2025 to 2035?

    The US Permanent Magnet Market is projected to experience a CAGR of 9.664% from 2025 to 2035.

    Which type of permanent magnet is expected to dominate the market by 2035?

    Neodymium Iron Boron Magnets are anticipated to dominate the market with a projected value of 7.0 billion USD by 2035.

    What are the market values for Ferrite Magnets in 2024 and 2035?

    Ferrite Magnets are expected to be valued at 1.5 billion USD in 2024 and 4.5 billion USD by 2035.

    Who are the key players in the US Permanent Magnet Market?

    Major players in the market include Magnetics, Magnequench, Lincoln Electric, and BASF among others.

    What is the projected market value for Samarium Cobalt Magnets in 2035?

    The market value for Samarium Cobalt Magnets is projected to reach 2.5 billion USD by 2035.

    What are the growth drivers for the US Permanent Magnet Market?

    Significant advancements in technology and increasing demand across various applications are driving growth in the market.

    What challenges might the US Permanent Magnet Market face in the coming years?

    Potential supply chain disruptions and fluctuating raw material prices could pose challenges to the market.

    How will the US Permanent Magnet Market perform compared to other regions?

    While specific regional performance metrics may vary, the overall growth trajectory for the US Permanent Magnet Market is expected to show strong potential compared to global competitors.

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    Case Study
    Chemicals and Materials