Plastic Bonded Neodymium Magnets Market size was valued at USD 2.5 Billion in 2024 and is projected to reach USD 4.0 Billion by 2033, exhibiting a CAGR of 5.7% from 2026 to 2033.
The global Plastic Bonded Neodymium Magnets market was valued at approximately USD 2.75 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030. The market is expected to reach around USD 5.25 billion by 2030. The demand for these magnets is driven by their growing use in various industries such as automotive, electronics, and consumer goods. In terms of regional distribution, Asia Pacific holds the largest market share, accounting for around 40% of the global market in 2022. This dominance is attributed to the presence of key manufacturing hubs in countries like China, Japan, and South Korea. The region also benefits from increasing investments in automotive, electronics, and renewable energy sectors, which further contribute to the demand for Plastic Bonded Neodymium Magnets.
North America and Europe follow as significant markets, with North America holding a market share of approximately 25% in 2022, driven by the demand from the automotive and renewable energy industries. The European market also holds a notable share, driven by the growing use of Plastic Bonded Neodymium Magnets in electric vehicle (EV) motors and industrial applications. The CAGR for North America and Europe is expected to be 6.5% and 6.8%, respectively, during the forecast period. Emerging markets in the Middle East and Latin America present new growth opportunities, with the increasing adoption of these magnets in various industrial applications, including robotics and medical devices, contributing to the markets expansion in these regions.
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Veekim
MMC
Sura Magnets
Arnold Magnetic Technologies
Bunting Magnetics
MS-Schramberg
Bomatec
Goudsmit Magnetics
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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 Neodymium Magnets Market
External Surface Magnets
Internal Magnets
Custom-Shaped Magnets
Medical Devices
Automotive Components
Consumer Electronics
Industrial Equipment
Renewable Energy Systems
Injection Molding
Compression Bonding
3D Printing
Aerospace
Electronics
Robotics
Household Appliances
Telecommunications
Small Sized Magnets
Medium Sized Magnets
Large Sized Magnets
Round Magnets
Rectangular Magnets
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 Neodymium 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 Neodymium Magnets Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Plastic Bonded Neodymium Magnets Market, By Type
6. Global Plastic Bonded Neodymium Magnets Market, By Application
7. Global Plastic Bonded Neodymium Magnets Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Plastic Bonded Neodymium Magnets Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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