Top Players in the Magnet Market

Top Players in the Magnet Market

The global magnet market reached a value of US$ 40.1 Billion in 2023. As per the analysis by IMARC Group, the demand for magnets is being driven by the development of magnetic levitation (maglev), a relatively new transportation technology, in which non-contacting vehicles travel safely at a speed of 250 to 300 miles-per-hour or higher, while suspended, guided, and propelled above a guideway by magnetic fields. In addition to this, the leading market players are introducing product miniaturization and devices with lower carbon footprints. Looking forward, IMARC Group expects the market to reach US$ 57.8 Billion by 2032, exhibiting at a CAGR of 4% during 2024-2032.

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List of Top Magnet Companies in the World:

Arnold Magnetic Technologies

Establishment: 1895
Headquarter: New York, United States

Arnold is a US-based corporation and an innovative industrial magnet manufacturer with several ITAR locations complying with DFARS throughout the supply chain. It is a leading manufacturer of high-performance permanent magnets, flexible composites, electromagnets, magnetic assemblies and precision thin metal foils. The high-performance permanent magnets are used in electric motors of ships, aircraft, and motorsport cars to pump couplings, batteries, solar panels, and NMR equipment. The technologies utilized by the company help it to be at the leading edge of innovation. Moreover, the custom magnet production and fabrication ensures that the customers receive products that are specifically catered to their unique design requirements.

Adams Magnetic Products Co.

Establishment: 1950
Headquarter: Illinois, United States

Adams Magnetic Products Co. is a leader in engineering and manufacturing magnetic products. It produced its first round-base magnet assembly back in 1950, which is still a bestseller in the present time. The company looks beyond magnet for application and provides cost-saving opportunities to the customers. Adams is equipped to fabricate large and small volumes of custom assemblies and can work with any and all magnet materials. They also offer engineering assistance to any design or can work from an established print. Moreover, all the necessary components are sourced to create a complete assembly and ready the end product.

Hitachi Metals Limited

Establishment: 1956
Headquarter: Tokyo, Japan

As one of the leading suppliers of magnetic materials, Hitachi Metals Limited boats an extensive range of magnets, including Neomax rare earth magnet and ferrite magnet. It provides products across a wide range of fields, encompassing automobile, electronics, and home appliances. The company takes challenges of new materials and new production technologies to meet the diverse need of customers and contributes to the creation of a more energy-efficient society. Furthermore, the growing demand for high performance and improvements in magnetic properties of magnets used in motors is facilitated by Hitachi Metal Limited. The company is making necessary improvements in features and performance to enable a wide range of applications and methods. It is also developing magnets for use in energy-saving and efficient home electronics as well as electric and hybrid cars.

BGRIMM Magnetic Materials and Technology Co. Limited

Establishment: 2000
Headquarter: Beijing, China

BGRIMM Magnetic Materials and Technology Co. Limited is a pacesetting technologically advanced corporation. The company is engaged in producing, researching, and developing magnetic materials and devices and is known as one of the earliest developers and manufacturers of ferrite in China. The products are sold to manufacturers in various places of China, European Union, the United States, North America, Japan, Hong Kong, and Taiwan. The company also owns a high-quality professional and scientific research team and a group of famous experts from home and abroad engaged in long-term product developments.


About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the magnet industry, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include:

  • Market Research
  • Plant setup
  • Plant Expansion
  • Marketing and sales
  • Procurement and Distribution
  • Innovation and Product Development

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