Magnet Market Size, Share, Trends, Report by 2033

The global magnet market size reached USD 41.75 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 58.7 Billion by 2033, exhibiting a growth rate (CAGR) of 3.82% during 2025-2033. The market is growing rapidly driven by increasing product demand in the automotive industry, recent advancements in electronics and consumer goods, significant growth in the wind energy sector, rapid technological innovations, and widespread adoption of automation and robotics.

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