Plastic Bonded Magnets Market size was valued at USD 1.5 Billion in 2024 and is forecasted to grow at a CAGR of 6.5% from 2026 to 2033, reaching USD 2.5 Billion by 2033.
The global plastic bonded magnets market was valued at approximately USD 1.3 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of around 6.5% from 2023 to 2030. The market is driven by increasing demand across various industries such as automotive, electronics, and healthcare, where lightweight and high performance magnets are essential. The growth in electric vehicles (EVs) and renewable energy sectors is expected to further propel the market due to the growing adoption of plastic bonded magnets for various applications such as motors, sensors, and actuators. The market size is expected to reach USD 2.6 billion by the end of the forecast period, reflecting strong market growth due to technological advancements in manufacturing and material science. The plastic bonded magnets market shows a diverse regional landscape, with North America and Europe leading the global market. North America is expected to hold a significant share due to strong industrial demand and a growing trend toward electric vehicles and renewable energy. Europe follows closely, driven by advancements in automotive and industrial sectors, especially in countries like Germany and France. Meanwhile, Asia Pacific, particularly China and Japan, is anticipated to witness the highest growth rate owing to increasing industrialization, manufacturing capabilities, and the automotive sector. The regional market share distribution reflects the ongoing shift toward high tech manufacturing and the widespread adoption of plastic bonded magnets across various industrial applications.
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Veekim
Bunting Magnetics
Sura Magnets
Eclipse Magnetics
Bomatec
Goudsmit Magnetics
Arnold Magnetic Technologies
MMC Magnetics
MATE
TDK
MS-Schramberg
EVITRON
Hangseng Ningbo Magnetech
Jiangmen Magsource New Material
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Plastic Bonded Magnets Market
Hard Ferrite Magnets
Rare Earth Magnets
Alnico Magnets
Automotive
Consumer Electronics
Industrial Equipment
Medical Devices
Renewable Energy
Other Applications
Automotive Industry
Electronics & Electrical Industry
Renewable Energy Industry
Healthcare & Medical Industry
Manufacturing & Industrial Sector
Axial Magnetization
Radial Magnetization
Diametric Magnetization
Other Magnetization Directions
Plates
Rings
Blocks
Cylinders
Other Forms
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Plastic Bonded Magnets Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Plastic Bonded Magnets Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Plastic Bonded Magnets Market, By Type
6. Global Plastic Bonded Magnets Market, By Application
7. Global Plastic Bonded Magnets Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Plastic Bonded Magnets Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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