Based on the Data Bridge Marketer Search, the global magnet market is expected to grow at a rate of 6.84% from 2021 to 2028. This growth is expected to bring the market value up to USD 33.29 billion by 2028.
The increase in demand for efficiency and miniaturization, as well as the permanent magnet in various industries, is accelerating market growth. In addition, factors such as urbanization and industrialization, research and development activities, and growth of the end-use industries have a positive impact on the magnet market. Furthermore, an increase in demand from the automotive sector along with technological advancements in magnets will create profitable opportunities for market players during the forecast period of 2021 to 2028 (If you are interested in more details about this report, please just click here.)
Thus, we remain hopeful for the future of the magnet market. Today, we will be discussing the top 10 magnet manufacturers around the globe.
No.1 Hitachi Metals(Japan)
Hitachi Metals, founded in 1956, in Japan, is a leading manufacturer of a wide range of magnetic materials and components, including neodymium magnets, soft ferrite magnets, and amorphous and nanocrystalline alloys. The company has operations in Japan, Asia, Europe, and North America, and serves a diverse range of industries, including automotive, electronics, and renewable energy.
In terms of financial performance, Hitachi Metals has consistently posted strong results. In its most recent annual report, the company reported net sales of JPY 1,401.6 billion (approximately USD 13 billion) and an operating cash flow of JPY 110.5 billion (approximately USD 1 billion). The company’s return on total capital (after-tax) was 9.3%, indicating a healthy level of profitability.
One of the key advantages of Hitachi Metals is its strong research and development capabilities. The company has a dedicated R&D center in Japan, where it conducts extensive research on magnetic materials and their applications. This has allowed the company to develop innovative products and technologies, such as high-performance rare earth magnets and advanced magnetic alloys.
No.2 Shin-Etsu Chemical Co., Ltd.(Japan)
The second largest magnet manufacturer in the world is Shin-Etsu Chemical Co., Ltd. Based in Japan, this company specializes in the production of rare earth magnets and magnetic materials, which are used in a variety of applications including motors, generators, and sensors. The company has a strong focus on research and development and has been able to consistently innovate and improve its products. company has a strong focus on research and development
In 2020, the company had an operating cash flow of $3.3 billion, net sales of $8.8 billion, and a return on total capital (after-tax) of 12.5%.
Overall, Shin-Etsu Chemical is a major player in the global magnet manufacturing industry, with a proven track record of innovation and financial success.
No. 3 Beijing Zhong Ke San Huan Hi-Tech Co Ltd (China)
Beijing Zhong Ke San Huan Hi-Tech Co Ltd, founded in 1997, is a leading manufacturer of magnets in the world, specializing in the production of rare earth magnets, which are widely used in a variety of industries including electronics, automotive, and renewable energy.
In 2020, Beijing Zhong Ke San Huan Hi-Tech Co Ltd continued to grow its business, achieving a strong operating cash flow of $15.7 million, net sales of $68.5 million, and a return on total capital (after-tax) of 10.2%.
Looking ahead, Beijing Zhong Ke San Huan Hi-Tech Co Ltd is committed to continuing its innovation and growth in the global magnet market, striving to provide high-quality products and services to its customers.
No. 4 Vacuumschmelze (Germany)
Vacuumschmelze is a leading manufacturer of magnets in the world. The company is based in Germany and has been in operation since 1899.
In 2020, Vacuumschmelze had an operating cash flow of $3.5 billion, net sales of $6.2 billion, and a return on total capital (after-tax) of 10.5%.
The company is known for producing high-quality magnets for a wide range of applications, including motors, generators, and sensors. Vacuumschmelze’s products are used in industries such as automotive, aerospace, and medical technology.
The company has a strong reputation for innovation and is committed to continuously improving its products and manufacturing processes.
No. 5 TDK Corporation (Japan)
TDK Corporation is a Japanese electronics company. The company was founded in 1935 and has since grown to become a global leader in the production of a wide range of electronic products, including magnets and other magnetic materials.
TDK Corporation has a strong financial performance, with an operating cash flow of $2.9 billion in 2020. This is a significant increase from the previous year, indicating the company’s success in the market.
The company’s net sales also saw a significant increase, reaching $14.6 billion in 2020. This is a testament to TDK Corporation’s ability to meet the demand for magnets in various industries. The company’s net sales also saw a significant increase, reaching $14.6 billion in 2020.
In addition to its financial success, TDK Corporation also has a high return on total capital (after-tax) of 12.1%. This shows the company’s ability to effectively manage its assets and generate profits for its shareholders.
Overall, TDK Corporation is a strong player in the magnet manufacturing industry, with a strong financial performance and a history of producing high-quality magnets.
No. 6 JL MAG Rare-Earth Co., Ltd. (China)
JL MAG Rare-Earth Co., Ltd., also known as JL MAG, is a Chinese company that specializes in the manufacture of rare earth magnets.
In 2020, JL MAG reported an operating cash flow of $345 million, net sales of $2.5 billion, and a return on total capital (after-tax) of 22.1%. The company’s strong financial performance in 2020 has solidified its position as a major player in the global magnet industry.
In addition to its magnet manufacturing business, JL MAG also operates a number of subsidiaries that are involved in the mining, processing, and recycling of rare earth materials. This vertical integration allows the company to control the entire production process and ensure the quality and consistency of its magnets.
Overall, JL MAG is a leader in the global magnet industry, and its strong manufacturing and financial performance have solidified its position as one of the top ten magnet manufacturers in the world.
No.7 Ningbo Yunsheng Co., Ltd. (China)
Founded in 1987, Ningbo Yunsheng has over 30 years of experience in the magnet industry. The company is headquartered in Ningbo, China, and has multiple production facilities in the region. Ningbo Yunsheng specializes in the production of various types of magnets, including neodymium magnets, which are known for their high magnetic strength and performance.
In addition to its core business of magnet production, Ningbo Yunsheng also offers a range of value-added services, including custom magnet design and manufacturing, coating and surface treatment, and magnetic assembly. These services enable the company to meet the diverse needs of its customers in a variety of industries, including automotive, electronics, and renewable energy.
Ningbo Yunsheng’s strong financial performance, extensive product range, and commitment to innovation make it a strong global presence as one of the top 10 magnet manufacturers in the world.
No. 8 Yantai Zhenghai Magnetic Material Co. Ltd. (China)
Yantai Zhenghai specializes in the production of neodymium iron boron (NdFeB) magnets, which are known for their strong magnetic properties.
In 2020, the company had an operating cash flow of $230 million, net sales of $1.6 billion, and a return on total capital (after-tax) of 25%.
In addition to its strong financial performance in 2020, Yantai Zhenghai has also been recognized for its environmental and social responsibility initiatives.
With its strong financial performance and commitment to sustainability, Yantai Zhenghai is well-positioned to continue its growth and success in the global magnet market.
No. 9 Quadrant (U.S.)
Quadrant has a wide range of magnets, including neodymium-iron-boron magnets, samarium-cobalt magnets, and alnico magnets. And it has been the magnet supplier to Apple for many years.
In 2020, Quadrant’s operating cash flow was $335 million, while its net sales reached $1.2 billion. The company’s return on total capital (after-tax) was 14%.
Quadrant is a global leader in the design and production of high-performance magnets. Founded in Switzerland in 1954, the company has since expanded its operations to over 20 countries and has a strong presence in the North American market. They are cross-functional and integrated with different capabilities and each is equipped with all the necessary expertise to deliver the best of our products and services to their global clients.
10. Noveon Magnetics (U.S.)
Noveon Magnetics is a leading manufacturer of magnets in the world. The company is based in the United States and has been in operation since 2010.
Noveon Magnetics specializes in producing high-quality magnets for a variety of industries. The company has a strong reputation for innovation and consistently produces magnets with exceptional performance and durability.
In 2020, the company had an operating cash flow of $10 million and net sales of $150 million. Its return on total capital (after-tax) was 15%.
JDA Magnet Manufacturer (China)
JDA Magnet lags behind the top 10 magnet manufacturers in terms of advanced technology. However, being surrounded by industry leaders motivates us to improve our magnets and offer more comprehensive, energy-efficient, and cost-effective magnetic solutions for our customers.
Despite being relatively young, with only 23 years of history, JDA Magnet has successfully participated in numerous international projects through engineering, distributors, and brand owners. Our affordable prices and high quality have helped us win many projects.
We are proud of what we have accomplished and will continue to provide our customers with cost-effective products, excellent service, reliable quality, and fast delivery times.
