Bonded Magnet Market Size, Share, Revenue Demand & Growth by 2034
The bonded magnet market size is projected to be around US$ 2,597.40 million in 2024. The
demand for bonded magnets is anticipated to expand at a CAGR of 4.80% through 2034. The
industry is projected to surpass US$ 4,150.99 million by 2034. The bonded magnet industry
is primarily driven by the increasing demand for miniaturization and lightweight components
in various applications such as automotive, consumer electronics, and medical devices.
The rising focus on sustainability and environmental concerns has propelled the adoption of
bonded magnets, which are manufactured using environmentally friendly processes and
materials. One of the latest trends in the bonded magnet industry is the development of hybrid
magnet systems combining bonded magnets with other materials like plastics or composites.
These hybrid systems offer unique properties and performance characteristics, catering to
specific application requirements such as weight reduction or thermal stability.
One significant limitation is the lower magnetic performance compared to conventional
magnet materials like neodymium. While advancements in manufacturing processes have
improved the magnetic properties of bonded magnets, they may still not meet the
requirements of high-performance applications. Moreover, the complexity and cost of
manufacturing bonded magnets, particularly in custom shapes and sizes, pose challenges for
small and medium-sized enterprises.
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With ongoing research and development efforts, manufacturers can further enhance the
magnetic performance of bonded magnets, expanding their applicability in high-performance
sectors such as aerospace and defense. Furthermore, the growing trend towards electric
mobility and automation creates demand for compact and efficient magnetic components,
driving the market for bonded magnets.
Key Takeaways from the Market Study

The ferrite magnets segment holds a significant market share of 47% in 2024, favored
for their affordability and versatility.

Calendering bonded magnets dominate with a substantial 63.10% market share in
2024 due to cost-effectiveness and scalability.

The United States’ bonded magnet industry is projected to grow at a CAGR of 3.9%
through 2034, driven by demands from various sectors.

Australia’s market is expected to rise at a CAGR of 4.6% through 2034, propelled by
renewable energy projects and infrastructure development.

China’s bonded magnet sector anticipates a CAGR of 5.4% through 2034, supported
by its diverse manufacturing and EV market.

India’s industry forecasts a CAGR of 5.3% through 2034, driven by government
initiatives and demand for compact devices.

Germany’s market is set to rise at a CAGR of 5.9% through 2034, fueled by the
automotive and automation sectors’ demand for high-quality components.
Competitive Landscape
In the bonded magnet industry, traditional brands like Honeywell and Munters face off
against agile startups like Briza and Blaux, each wielding distinct strengths. Differentiation is
key, with manufacturers competing on factors like cooling efficiency, water usage,
portability, noise levels, and smart home integration. Sustainability also plays a crucial role,
with eco-friendly materials and water-saving features attracting eco-conscious consumers.
Established players team up with technology providers to integrate smart features, while
startups partner with established distributors to reach wider audiences.
Recent Developments:

Arnold Magnetic Technologies acquired Ramco Electric Motors, Inc., a stators,
rotors, and whole electric motor manufacturer, in March 2021. The purchase broadens
Arnold’s capabilities and products in the e-mobility industry.

Alliance LLC announced the launch of its new website in February 2021, showcasing
its goods and services in bonded magnets, rare earth magnets, and magnetic
assemblies.

Dexter Magnetic Technologies introduced a new range of bonded neodymium
magnets in January 2021, specifically designed for high-temperature and highcorrosion applications.
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