The BRIC Permanent Magnet Market size is expected to reach US$ 30,476.70 million by 2031 from US$ 15,855.78 million in 2024. The market is estimated to record a CAGR of 10.6% from 2025 to 2031.
Executive Summary: BRIC Permanent Magnet Market Analysis
The BRIC countries (Brazil, Russia, India, and China) are witnessing a surge in demand for permanent magnets, driven by rapid advancements in key industries such as automotive, electronics, renewable energy, and industrial manufacturing.
China, the dominant player in the global permanent magnet market, leads in both production and consumption, fueled by its thriving electric vehicle (EV) and renewable energy sectors. High-performance neodymium-iron-boron (NdFeB) magnets are in high demand for EV motors and wind turbine generators. Meanwhile, India and Brazil are experiencing growing adoption of permanent magnets in electric mobility and solar energy, supported by government initiatives promoting sustainable technologies. Russia’s aerospace and defense sectors are also contributing to the demand for specialized permanent magnets.
As BRIC nations continue to industrialize and shift toward green energy solutions, permanent magnets are becoming increasingly vital in robotics, consumer electronics, and energy storage. The region’s emphasis on innovation and sustainability ensures a strong, long-term growth trajectory for the permanent magnet market.
BRIC Permanent Magnet Market Outlook
The BRIC permanent magnet market is expanding rapidly, propelled by technological advancements, the push for energy-efficient solutions, and the accelerating adoption of electric vehicles. Permanent magnets—primarily made from neodymium (NdFeB), samarium-cobalt (SmCo), and ferrite—are critical components across industries such as automotive, electronics, energy, and manufacturing.
Key Market Drivers:
- Electric Vehicles (EVs): Permanent magnets are essential for EV motors, and with stricter emission regulations and rising consumer preference for green transportation, demand is surging.
- Renewable Energy: Wind turbines rely heavily on permanent magnet generators, further boosting market growth as BRIC nations invest in clean energy.
- Industrial & Consumer Electronics: Expanding automation, robotics, and electronics manufacturing are increasing the need for high-performance magnets.
Given these trends, the BRIC permanent magnet market is poised for sustained growth, supported by advancements in green technology, transportation, and smart manufacturing.
BRIC Permanent Magnet Market: Country Insights
The BRIC permanent magnet market is segmented into Brazil, Russia, India, China, and South Africa. In 2023, China dominated the market, holding the largest share.
China: The Market Leader
China is the world’s largest producer and consumer of permanent magnets, with strong demand from its EV, renewable energy, and electronics sectors. The country’s leadership in wind energy and electric mobility continues to drive the need for high-performance magnets, particularly NdFeB magnets used in motors and generators.
- Automotive Industry Growth: Despite an 8.4% year-over-year decline in December 2022 (reaching 2.56 million units), annual vehicle sales in China hit 26.86 million units in 2022, with EVs playing a key role in market expansion.
- Renewable Energy Expansion: China’s massive investments in wind power further amplify demand for permanent magnets in turbine generators.
India & Brazil: Emerging Demand
- India’s push for electric mobility and solar energy is increasing magnet usage.
- Brazil’s focus on sustainable technologies, particularly in energy and transportation, is boosting market growth.
Russia: Aerospace & Defense Applications
Russia’s growing aerospace and defense industries are driving demand for specialized permanent magnets.
Conclusion
The BRIC permanent magnet market is on a strong growth path, with China leading the charge, followed by India, Brazil, and Russia. The shift toward EVs, renewable energy, and advanced manufacturing ensures sustained demand, making this a high-potential market for the foreseeable future.
BRIC Permanent Magnet Market Segments Covered
BRIC Permanent Magnet Market By Type
- Neodymium-Iron-Boron
- Ferrite
- Samarium Cobalt
- Alnico
BRIC Permanent Magnet Market By Application
- Consumer Electronics
- Automotive
- Aerospace and Defense
- Medical
- Industrial Machinery
- Energy
BRIC Permanent Magnet Market Regions and Countries Covered
BRIC
- Russian Federation
- Brazil
- India
- China
BRIC Permanent Magnet Market leaders and key company profiles
- Shin-Etsu Chemical
- Hitachi Metals
- Toyota Tsusho Corporation
- General Electric
- TDK Corp
- Armold Magnetic technologies
- Galaxy Magnets
- Goudsmit Magnetics
- Electron Energy Corporation
- Dexter Magnetic Technolgies
Other Reports:
Europe Security Advisory Services Market: https://sites.google.com/view/advisory-services-e/home
Europe Malware Analysis Market: https://business-news-insights.blogspot.com/2025/05/europe-malware-analysis-market.html
Europe Dental Surgery Instruments Market: https://postyourarticle.com/europe-dental-surgery-instruments-market-size-share-trends-segmentation-2027/
Europe Car Rental Service Market: https://penzu.com/p/12d8763d14d1ad6d
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.
Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
