Ferrite Permanent Magnet Market Trends, Size, Segment and Growth by Forecast to (2021-2031)

Ferrite Permanent Magnet Market

Ferrite Permanent Magnet Market Outlook (2024–2031)
The global ferrite permanent magnet market is projected to decline from US$ 14,877.96 million in 2024 to US$ 7,986.42 million by 2031, registering a negative CAGR of 9.8% during the forecast period from 2025 to 2031.

📚Download Full PDF Sample Copy of Market Report @
https://wwcw.businessmarketinsights.com/sample/BMIPUB00031697

Executive Summary and Global Market Analysis:

The ferrite permanent magnet market plays a crucial role within the global magnetics industry, known for its affordability, durability, and versatile use across diverse sectors. These magnets—composed primarily of iron oxide combined with ceramic elements like barium or strontium—are favored for their strong corrosion resistance, high electrical resistance, and stable magnetic performance.

Despite the expected market contraction, ferrite magnets continue to hold significant value across key industries such as consumer electronics, automotive components, industrial equipment, renewable energy technologies, and healthcare devices. Their widespread use is attributed to their cost-efficiency and consistent performance, especially in applications where high magnetic strength is not critical.

Market activity is currently supported by:

• Growing demand for cost-effective magnetic solutions in consumer electronics
• Continued integration into electric vehicle (EV) components
• Increased use in renewable energy systems such as wind and hydroelectric generators
• Expansion of low-cost manufacturing across Asia-Pacific

Asia-Pacific remains the market leader, fueled by large-scale electronics production, industrial growth, and heavy investment in green energy and EV infrastructure. However, rising competition from more powerful rare-earth magnets, which offer superior performance in compact sizes, poses a challenge to ferrite magnet adoption in some high-performance applications.

Still, for industries prioritizing affordability, environmental stability, and reliability, ferrite magnets remain a dependable choice—especially where supply chain resilience and cost control are paramount.

Ferrite Permanent Magnet Market Segmentation Analysis

The ferrite permanent magnet market has been segmented by type, product type, end-user, sales channel, and geography. The following sections highlight the key contributors to market dynamics in 2024:

By Type

The market is categorized into sintered and bonded ferrite magnets.
In 2024, sintered ferrite magnets led the market, attributed to their superior magnetic strength and higher thermal resistance—up to 250°C. These characteristics make them ideal for high-performance applications such as electric motors, automotive systems, and industrial equipment.

By Product Type

Ferrite permanent magnets are segmented into strontium and barium types.
Strontium ferrite magnets held the dominant share in 2024, outperforming barium counterparts due to their better coercivity and temperature stability. Their reliability and cost-effectiveness have cemented their use in electric motors, sensors, renewable energy systems, and a wide range of electronics—particularly in the growing electric vehicle (EV) sector.

By End-User

End-user segments include Automotive, Consumer Electronics, Power Tools, and Others.
The consumer electronics segment led the market in 2024, driven by the escalating demand for devices like smartphones, tablets, laptops, smart appliances, and wearables. Ferrite magnets are a preferred choice for manufacturers due to their compact size, affordability, and reliable performance in electronic circuits and speaker components.

By Geography

Geographically, the market is divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South & Central America.
The Asia-Pacific region emerged as the leading market in 2024, fueled by rapid industrialization, robust electronics manufacturing hubs (notably in China, Japan, and South Korea), and strong automotive sector growth.

Key Market Drivers and Opportunities

Growing Demand in Consumer Electronics

The increasing penetration of smart and portable devices globally is a core growth driver for ferrite magnets. These magnets support the miniaturization of components while ensuring performance reliability and cost control. Their strong resistance to demagnetization and consistent functionality in small formats make them indispensable in the design of next-generation electronic products.

Expansion into Emerging Markets and New Applications

Emerging economies present lucrative opportunities due to industrial growth, digital adoption, and infrastructure development. Ferrite magnets are also finding new use cases in healthcare (e.g., MRI-compatible equipment), smart infrastructure, security systems, and renewable energy systems. Manufacturers that tailor product innovations for specific regional needs and niche applications are well-positioned to benefit from these trends.

Market leaders and key company profiles

  Proterial, Ltd

  TDK Corporation

  Shin-Etsu Chemical Co., Ltd

  Ningbo Yunsheng Co., Ltd.

  Beijing Zhong Ke San Huan High-Tech Co., Ltd.

  Hangzhou Permanent Magnet Group., Ltd.

  FE Ferrite Co., Ltd.

  Anhui Long Magnetic Technology Co., Ltd.

  Guangdong LingYI Co., Ltd.

Ferrite Permanent Magnet Market Report Coverage and Deliverables

The "Ferrite permanent magnet market Outlook (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Ferrite permanent magnet market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Ferrite permanent magnet market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter's Five Forces and SWOT analysis
• Ferrite permanent magnet market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Ferrite permanent magnet market
• Detailed company profiles

The geographical scope of the Ferrite permanent magnet market report is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. Asia-Pacific’s leadership is underpinned by several strategic factors. The region is home to the world’s largest manufacturing base for electronics, automotive components, and industrial equipment—industries that are major consumers of ferrite magnets. Countries such as China, Japan, and South Korea have well-established supply chains, significant investments in production technology, and a strong focus on export-oriented manufacturing, which collectively drive high output and market penetration for ferrite magnets.

The region benefits from rapid industrialization and urbanization, which fuel demand for consumer electronics, household appliances, and automotive products—all key application areas for ferrite magnets. Additionally, Asia-Pacific’s governments have implemented policies and incentives that encourage the adoption of technologies reliant on ferrite magnets, such as electric vehicles and renewable energy systems, further boosting market growth.

China, in particular, stands out as the global leader due to its vast production capacity, abundant raw materials, and concentration of major magnet manufacturers. The country’s electronics and automotive sectors are among the largest in the world, creating a synergistic effect that sustains high demand for ferrite magnets. Moreover, Asia-Pacific’s capacity for cost-effective manufacturing and its ability to scale production to meet both domestic and international demand have solidified its position as the dominant region in the ferrite permanent magnet market.

Ferrite permanent magnet market Research Report Guidance

• The report includes qualitative and quantitative data in the Ferrite permanent magnet market across drive type, propulsion, sales channel, and geography.
• The report starts with the key takeaways (chapter 2), highlighting the key trends and outlook of the Ferrite permanent magnet market.
• Chapter 3 includes the research methodology of the study.
• Chapter 4 further includes ecosystem analysis along with Porter’s analysis.
• Chapter 5 highlights the major industry dynamics in the Ferrite permanent magnet market, including factors that are driving the market, prevailing deterrents, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
• Chapter 6 discusses the Ferrite permanent magnet market scenario, in terms of historical market revenues, and forecast till the year 2031.
• Chapters 7 to 9 cover Ferrite permanent magnet market segments by type, product type, end use, and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. They cover market revenue forecast and factors driving the market.
• Chapter 10 describes the competitive analysis along with the heat map analysis for the key players operating in the market.
• Chapter 11 describes the industry landscape analysis. It provides detailed description of business activities such as market initiatives, new developments, mergers, and joint ventures globally, along with a competitive landscape.
• Chapter 12 provides detailed profiles of the major companies operating in the Ferrite permanent magnet market. The companies have been profiled on the basis of their key facts, business descriptions, products and services, financial overview, SWOT analysis, and key developments.
• Chapter 13, i.e., the appendix is inclusive of a brief overview of the company, list of abbreviations, and disclaimer.

Ferrite Permanent Magnet Market News and Key Development:

The Ferrite permanent magnet market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the Ferrite permanent magnet market are:

• On March 2025, PREMO S.L., a Spanish leader in electronic components, and Delta Manufacturing Ltd. (India), a major producer of soft ferrite cores, announced a strategic joint venture. The collaboration aims to enhance the production and innovation of soft ferrite components for industries such as automotive, telecommunications, smart grids, and IoT. The joint venture plans to establish a new manufacturing facility equipped with advanced technologies, leveraging PREMO’s expertise in inductive components and RFID technology alongside DML’s manufacturing capabilities. This partnership is expected to drive innovation, operational efficiencies, and expanded product offerings for both domestic and global markets.

About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights