INDIA RARE EARTH MAGNETS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025 - 2032)

The India rare earth magnets market is estimated to be valued at USD 2.34 Bn in 2025 and is expected to reach USD 3.71 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 6.8% from 2025 to 2032. India rare earth magnets market represents a critical segment within the country's advanced materials industry, encompassing permanent magnets manufactured from rare earth elements such as neodymium, samarium, and dysprosium.

Market Dynamics

The India rare earth magnets market is propelled by several key drivers that collectively fuel its robust growth trajectory. The primary driver stems from India's aggressive push toward electric vehicle adoption and renewable energy infrastructure development, creating unprecedented demand for high-performance permanent magnets essential in electric motors, generators, and energy storage systems. The government's production-linked incentive schemes for electronics manufacturing, coupled with the National Electric Mobility Mission Plan, have significantly boosted domestic demand while encouraging local production capabilities.

Key Features of the Study

• This report provides in-depth analysis of the India rare earth magnets market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025–2032), considering 2024 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the India rare earth magnets market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include A permanent magnet Technologies, Inc., GE Aviation, Magnequench, Ningbo Yongfeng Magnet Industry Co., Ltd., Hitachi Metals, Ltd., Shin-Etsu Chemical Co., Ltd., Chuo Denki Co., Ltd., GKN Magnet Technology, Bunting Magnetics Co., TDK Corporation, Nidec Corporation, Vacuumschmelze GmbH, Adams Magnetic Products Co., and SURA Magnets
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The India rare earth magnets market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the India rare earth magnets market

Market Segmentation

• Type Insights (Revenue, USD Bn, 2020 - 2032)
  • Neodymium-Iron-Boron (NdFeB) Magnets
  • Samarium Cobalt (SmCo) Magnets
  • Other Rare Earth Magnets
• Manufacturing Process Insights (Revenue, USD Bn, 2020 - 2032)
  • Sintered
  • Bonded
  • Others
• End-use Industry Insights (Revenue, USD Bn, 2020 - 2032)
  • Automotive
  • Consumer Electronics
  • Aerospace & Defense
  • Energy
  • Industrial
  • Others
• Key Players Insights
  • A permanent magnet Technologies, Inc.
  • GE Aviation
  • Magnequench
  • Ningbo Yongfeng Magnet Industry Co., Ltd.
  • Hitachi Metals, Ltd.
  • Shin-Etsu Chemical Co., Ltd.
  • Chuo Denki Co., Ltd.
  • GKN Magnet Technology
  • Bunting Magnetics Co.
  • TDK Corporation
  • Nidec Corporation
  • Vacuumschmelze GmbH
  • Adams Magnetic Products Co.
  • SURA Magnets