Neodymium Iron Boron (NdFeB) Permanent Magnets Market Report2026: Major Trends, Influencing Factors, & Forecast Overview

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The Business Research Company's Neodymium Iron Boron (NdFeB) Permanent Magnets Market Report 2026 – Market Size, Trends, And Global Forecast 2026-2035

LONDON, GREATER LONDON, UNITED KINGDOM, February 25, 2026 /EINPresswire.com/ -- "The neodymium iron boron (NdFeB) permanent magnets market has demonstrated impressive growth in recent years, driven by advances in technology and increasing demand across various industries. This report explores the current market size, growth drivers, regional dynamics, and emerging trends shaping the future landscape of NdFeB magnets.

Market Expansion and Expected Growth in the Neodymium Iron Boron Permanent Magnets Market
The market for neodymium iron boron permanent magnets has expanded significantly and is projected to continue on this trajectory. From a valuation of $26.45 billion in 2025, the market is expected to reach $28.34 billion by 2026, growing at a compound annual growth rate (CAGR) of 7.1%. This progress is largely due to the miniaturization of consumer electronics, greater demand for efficient industrial motors, the growth of wind turbine installations in renewable energy, increased use of permanent magnet generators, and a strong dependency on rare earth material supply chains.

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Future Projections and Growth Drivers for NdFeB Magnets
Looking ahead, the market is forecast to grow to $37.67 billion by 2030, with a slightly higher CAGR of 7.4%. This anticipated increase will be fueled by expanding demand for electric vehicle traction motors, heightened investments in innovative manufacturing methods for magnets, and a rising need for lightweight yet durable magnetic components. Additionally, advancements in miniaturized medical devices and a growing emphasis on recycling and sustainable sourcing of rare earth materials are expected to bolster this growth.

Characteristics and Advantages of Neodymium Iron Boron Magnets
NdFeB permanent magnets are recognized as high-performance rare-earth magnets composed of neodymium, iron, and boron alloys. They stand out due to their exceptional magnetic field strength—the strongest among commercially available permanent magnets—while maintaining excellent performance in compact sizes. These magnets are essential for delivering powerful and efficient magnetic properties in applications where space and weight are constrained.

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Electric Vehicle Demand as a Key Growth Driver for NdFeB Magnets
A major factor propelling the NdFeB permanent magnets market is the escalating demand for electric vehicles (EVs) and their motors. EV traction motors rely heavily on high-performance magnets like NdFeB to generate high torque and efficiency within a compact form factor. This surge in demand is driven by stricter emission regulations worldwide and a growing shift toward clean mobility solutions aimed at reducing fossil fuel dependence. For example, a January 2024 report from Kelley Blue Book, a US-based Cox Automotive company, highlighted that in 2023, 1.2 million car buyers in the United States opted for electric vehicles, representing 7.6% of the total U.S. vehicle market—a rise from 5.9% in 2022. This trend underscores how the proliferation of EVs is boosting the need for neodymium iron boron permanent magnets.

Regional Market Leadership and Growth Outlook for NdFeB Magnets
In 2025, North America was the largest market for NdFeB permanent magnets, holding a significant share of the global industry. However, the Asia-Pacific region is expected to lead growth during the forecast period, emerging as the fastest-growing market. The comprehensive market analysis covers regions including Asia-Pacific, Southeast Asia, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, offering a global perspective on market trends and opportunities.

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