North America Rare Earth Magnets Market (2025-2031) | Consumer Insights, Competitive, Supply, Revenue, Segmentation, Growth, Segments, Challenges, Investment Trends, Value, Strategic Insights, Drivers, Strategy, Industry, Forecast, Demand, Trends, Restraints, Size, Companies, Share, Opportunities, Competition, Analysis, Pricing Analysis, Outlook

Market Forecast by Countries (United States (US), Canada, Rest of North America), By Magnet Type (NdFeB, SmCo, SmFeN), By Applications (Automotive Motors, Industrial Motors, HDD, CD, DVD, Electric Bicycles, Transducers and Loudspeakers, Others) And Competitive Landscape

Product Code: ETC13196199 Publication Date: Apr 2025 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 150 No. of Figures: 55 No. of Tables: 32

North America Rare Earth Magnets Market Size & Growth Rate

According to 6W research internal database and industry insights, the North America Rare Earth Magnets Market is projected to grow at a CAGR of 7.8% from 2025-2031. The North America Rare Earth Magnets Market was valued at USD 2.1 billion in 2024 and is expected to reach USD 3.8 billion by 2031.

North America Rare Earth Magnets Market  Highlights

Report Name North America Rare Earth Magnets Market
Forecast Period 2025-2031
Market Size USD 3.8 Billion by 2031
CAGR 7.8%
Growing Sector Advanced Materials and Clean Energy Technology

Topics Covered in the North America Rare Earth Magnets Market Report

The North America Rare Earth Magnets Market report thoroughly covers the market by Countries, by Magnet Type, and by Applications. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

North America Rare Earth Magnets Market Synopsis

The North America Rare Earth Magnets Market is witnessing robust growth driven by the magnetic applications for rare earth magnets in a number of industries, most notably automotive, electronics, renewable energy, and health care. Neodymium and samarium-cobalt variants of rare earth magnets dominate the market due to their better magnetic force and temperature resistance than traditional ferrous magnets. The continued increase in electric vehicles (EVs) that use rare earth materials that the magnets are made from will elevate demand for the magnets, as will the increasing use of wind energy.

North America Rare Earth Magnets Market is expected to grow at a significant CAGR of 7.8% during the forecast period 2025-2031. There are many drivers impacting the present market, one of which is an undeniable demand for rare earth magnets. This demand predominantly focuses on the electric vehicle motor market, developments in wind turbines, advanced electronics, and weaning off of fossil fuels to renewable energy—namely with wind—and the continual rise of high-performing magnets. North America Rare Earth Magnets Market Growth is being propelled by the trend for smaller and more complex electronic devices and smart technology, which continues to support this incline. 

North America Rare Earth Magnets Market Challenges

The North America Rare Earth Magnets Market faces challenges such as the limited availability of rare earth elements, which are primarily sourced from a few countries, leading to supply chain vulnerabilities. High extraction and processing costs further impact pricing and profitability. Environmental concerns related to mining and refining rare earth materials pose regulatory and reputational risks for manufacturers. Additionally, the development of alternative materials and technologies could potentially disrupt the market. Addressing these challenges requires investments in sustainable mining practices, recycling initiatives, and diversification of supply sources.

North America Rare Earth Magnets Market Trends

Key trends include the increasing focus on recycling rare earth materials to address supply chain constraints and environmental concerns. The development of lightweight and high-performance magnets for EVs and renewable energy systems is gaining traction. Additionally, advancements in manufacturing technologies, such as 3D printing of magnets, are revolutionizing production processes. The market is also witnessing a shift towards localized production to reduce dependency on imports. These trends highlight the market's emphasis on sustainability, innovation, and resilience in the face of global challenges.

Investment Opportunities in the North America Rare Earth Magnets Market

The North America Rare Earth Magnets Industries offers lucrative investment opportunities in the development of sustainable and high-performance magnets. Companies can capitalize on the growing demand for EVs and renewable energy systems by expanding production capacities and investing in advanced manufacturing technologies. Recycling rare earth materials presents a significant opportunity to address supply chain challenges and reduce environmental impact. Partnerships with automotive and renewable energy industries can enhance market presence. Additionally, investments in R&D for alternative materials and innovative applications promise high returns, aligning with evolving market demands.

Leading Players of the North America Rare Earth Magnets Market

Prominent players in the market include Hitachi Metals, Arnold Magnetic Technologies, Electron Energy Corporation, and Lynas Rare Earths. These companies dominate the market with their advanced product offerings, strong R&D capabilities, and extensive distribution networks. They focus on developing high-performance magnets for critical applications in EVs, wind turbines, and electronics. 

Government Regulations Introduced in the North America Rare Earth Magnets Market

Government regulations in the North America Rare Earth Magnets Market focus on ensuring sustainable mining and processing of rare earth materials. Policies promoting the adoption of EVs and renewable energy systems indirectly drive demand for rare earth magnets. Regulations encouraging recycling and the development of alternative materials aim to reduce environmental impact and supply chain risks. Import-export controls and tariffs on rare earth materials influence market dynamics. These regulations not only ensure environmental compliance but also encourage innovation and investment in sustainable and localized production practices.

Future Insights of the North America Rare Earth Magnets Market

The North America Rare Earth Magnets Market is poised for robust growth, driven by increasing demand for EVs, renewable energy systems, and advanced electronics. Advancements in recycling technologies and sustainable mining practices will address supply chain challenges and environmental concerns. The development of lightweight, high-performance magnets for emerging applications, such as robotics and IoT devices, will further expand market opportunities. Government incentives for clean energy and localized production will support market expansion. Overall, the future of the market looks promising, with sustainability and innovation at its core.

Market Segmentation Analysis

The report offers a comprehensive study of the subsequent market segments and their leading categories. 

United States to dominate the market- By Countries

According to Ritika Kalra, Senior Research Analyst, 6Wresearch, The United States (US) dominates the North America rare earth magnets market, owing to its strong industrial base, rapid adoption of electric vehicles, and significant investments in renewable energy infrastructure. The country also benefits from government initiatives focused on reducing dependence on Chinese imports and establishing a local rare earth supply chain, further strengthening its position in the regional market.

NdFeB to dominate the market- By Magnet Type

NdFeB (Neodymium Iron Boron) magnets lead the market due to their superior magnetic strength, compact size, and high efficiency. These characteristics make them the preferred choice for high-performance applications such as electric vehicle motors, wind turbines, and various electronics. Their dominant use in energy-efficient systems supports their leading market share.

Automotive Motors to dominate the market- By Applications

Automotive Motors represent the dominant application segment in the North America rare earth magnets market. The growing shift toward electric and hybrid vehicles has significantly increased the demand for rare earth magnets, particularly NdFeB, due to their essential role in electric drivetrains and high-efficiency motors. Government incentives and rising EV adoption continue to fuel this dominance.

Key Attractiveness of the Report

  • 10 Years of Market Numbers.
  • Historical Data Starting from 2021 to 2024.
  • Base Year: 2024
  • Forecast Data until 2031.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • North America Rare Earth Magnets Market Outlook
  • Market Size of North America Rare Earth Magnets Market, 2024
  • Forecast of North America Rare Earth Magnets Market, 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Revenues & Volume for the Period 2021 - 2031
  • North America Rare Earth Magnets Market Trend Evolution
  • North America Rare Earth Magnets Market Drivers and Challenges
  • North America Rare Earth Magnets Price Trends
  • North America Rare Earth Magnets Porter's Five Forces
  • North America Rare Earth Magnets Industry Life Cycle
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By Magnet Type for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By NdFeB for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By SmCo for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By SmFeN for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By Magnet Type for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By NdFeB for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By SmCo for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By SmFeN for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By Magnet Type for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By NdFeB for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By SmCo for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By SmFeN for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By Magnet Type for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By NdFeB for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By SmCo for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By SmFeN for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By Applications for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By Automotive Motors for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By Industrial Motors for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By HDD, CD, DVD for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By Electric Bicycles for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By Transducers and Loudspeakers for the Period 2021 - 2031
  • Historical Data and Forecast of North America Rare Earth Magnets Market Revenues & Volume By Others for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By Applications for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By Automotive Motors for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By Industrial Motors for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By HDD, CD, DVD for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By Electric Bicycles for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By Transducers and Loudspeakers for the Period 2021 - 2031
  • Historical Data and Forecast of United States (US) Rare Earth Magnets Market Revenues & Volume By Others for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By Applications for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By Automotive Motors for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By Industrial Motors for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By HDD, CD, DVD for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By Electric Bicycles for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By Transducers and Loudspeakers for the Period 2021 - 2031
  • Historical Data and Forecast of Canada Rare Earth Magnets Market Revenues & Volume By Others for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By Applications for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By Automotive Motors for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By Industrial Motors for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By HDD, CD, DVD for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By Electric Bicycles for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By Transducers and Loudspeakers for the Period 2021 - 2031
  • Historical Data and Forecast of Rest of North America Rare Earth Magnets Market Revenues & Volume By Others for the Period 2021 - 2031
  • North America Rare Earth Magnets Market - Key Performance Indicators
  • North America Rare Earth Magnets Market - Import Export Trade Statistics
  • North America Rare Earth Magnets Market - Opportunity Assessment By Countries
  • North America Rare Earth Magnets Market - Opportunity Assessment By Magnet Type
  • North America Rare Earth Magnets Market - Opportunity Assessment By Applications
  • North America Rare Earth Magnets Market - Top Companies Market Share
  • North America Rare Earth Magnets Market - Top Companies Profiles
  • North America Rare Earth Magnets Market - Comparison of Players in Technical and Operating Parameters
  • North America Rare Earth Magnets Market - Strategic Recommendations

Markets Covered

The market report provides a detailed analysis of the following market segments:

By Countries

  • United States (US)
  • Canada
  • Rest of North America

By Magnet Type

  • NdFeB (Neodymium Iron Boron)
  • SmCo (Samarium Cobalt)
  • SmFeN (Samarium Iron Nitride)

By Applications

  • Automotive Motors
  • Industrial Motors
  • HDD, CD, DVD
  • Electric Bicycles
  • Transducers and Loudspeakers
  • Others

North America Rare Earth Magnets Market (2025-2031): FAQs

The expected CAGR of the North America Rare Earth Magnets Market is approximately 7.8% during the forecast period.
The North America Rare Earth Magnets Market size was valued at approx USD 2.1 billion in 2024 and is projected to reach at approx. USD 3.8 billion by 2031.
The market is being driven by aggressive reshoring of production backed by U.S. government incentives, EV manufacturing, wind energy deployment.
Major contributors include Arnold Magnetic Technologies, Electron Energy Corporation, Hitachi Metals, Shin-Etsu, TDK, and startups like Niron, USA Rare Earth.
6Wresearch actively monitors the North America Rare Earth Magnets Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the North America Rare Earth Magnets Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
North America Rare Earth Magnets Market
1 Executive Summary
2 Introduction
2.1 Key Highlights of the Report
2.2 Report Description
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3 North America Rare Earth Magnets Market Overview
3.1 North America Regional Macro Economic Indicators
3.2 North America Rare Earth Magnets Market Revenues & Volume, 2021 & 2031F
3.3 North America Rare Earth Magnets Market - Industry Life Cycle
3.4 North America Rare Earth Magnets Market - Porter's Five Forces
3.5 North America Rare Earth Magnets Market Revenues & Volume Share, By Countries, 2021 & 2031F
3.6 North America Rare Earth Magnets Market Revenues & Volume Share, By Magnet Type, 2021 & 2031F
3.7 North America Rare Earth Magnets Market Revenues & Volume Share, By Applications, 2021 & 2031F
4 North America Rare Earth Magnets Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5 North America Rare Earth Magnets Market Trends
6 North America Rare Earth Magnets Market, 2021 - 2031
6.1 North America Rare Earth Magnets Market, Revenues & Volume, By Magnet Type, 2021 - 2031
6.1.1 Overview & Analysis
6.1.2 North America Rare Earth Magnets Market, Revenues & Volume, By NdFeB, 2021 - 2031
6.1.3 North America Rare Earth Magnets Market, Revenues & Volume, By SmCo, 2021 - 2031
6.1.4 North America Rare Earth Magnets Market, Revenues & Volume, By SmFeN, 2021 - 2031
6.2 North America Rare Earth Magnets Market, Revenues & Volume, By Applications, 2021 - 2031
6.2.1 Overview & Analysis
6.2.2 North America Rare Earth Magnets Market, Revenues & Volume, By Automotive Motors, 2021 - 2031
6.2.3 North America Rare Earth Magnets Market, Revenues & Volume, By Industrial Motors, 2021 - 2031
6.2.4 North America Rare Earth Magnets Market, Revenues & Volume, By HDD, CD, DVD, 2021 - 2031
6.2.5 North America Rare Earth Magnets Market, Revenues & Volume, By Electric Bicycles, 2021 - 2031
6.2.6 North America Rare Earth Magnets Market, Revenues & Volume, By Transducers and Loudspeakers, 2021 - 2031
6.2.7 North America Rare Earth Magnets Market, Revenues & Volume, By Others, 2021 - 2031
7 North America Rare Earth Magnets Market, By Countries, 2021 - 2031
7.1 Overview & Analysis
7.2 North America Rare Earth Magnets Market, Revenues & Volume, By Magnet Type, 2021 - 2031
7.2.1 United States (US) Rare Earth Magnets Market, Revenues & Volume, By Magnet Type, 2021 - 2031
7.2.2 Canada Rare Earth Magnets Market, Revenues & Volume, By Magnet Type, 2021 - 2031
7.2.3 Rest of North America Rare Earth Magnets Market, Revenues & Volume, By Magnet Type, 2021 - 2031
7.3 North America Rare Earth Magnets Market Revenues & Volume Share, By Applications, 2021 & 2031F
7.3.1 United States (US) Rare Earth Magnets Market, Revenues & Volume, By Applications, 2021 - 2031
7.3.2 Canada Rare Earth Magnets Market, Revenues & Volume, By Applications, 2021 - 2031
7.3.3 Rest of North America Rare Earth Magnets Market, Revenues & Volume, By Applications, 2021 - 2031
8 North America Rare Earth Magnets Market Key Performance Indicators
9 North America Rare Earth Magnets Market - Export/Import By Countries Assessment
10 North America Rare Earth Magnets Market - Opportunity Assessment
10.1 North America Rare Earth Magnets Market Opportunity Assessment, By Countries, 2021 & 2031F
10.2 North America Rare Earth Magnets Market Opportunity Assessment, By Magnet Type, 2021 & 2031F
10.3 North America Rare Earth Magnets Market Opportunity Assessment, By Applications, 2021 & 2031F
11 North America Rare Earth Magnets Market - Competitive Landscape
11.1 North America Rare Earth Magnets Market Revenue Share, By Companies, 2022
11.2 North America Rare Earth Magnets Market Competitive Benchmarking, By Operating and Technical Parameters
12 Top 10 Company Profiles
13 Recommendations
14 Disclaimer
Pricing
  • Single User License
    $ 4,560
  • Department License
    $ 5,055
  • Site License
    $ 5,595
  • Global License
    $ 6,000
6Wresearch Support

Any Query

Call: +91-11-4302-4305
Email us: sales@6wresearch.com
Any Query? Click Here

Related Reports

Industry Events and Analyst Meet

Our Clients

Airtel
Canon
Contec
HoneyWell
Kriloskar
Pwc Logo
Samsung
Tata Teleservices

Whitepaper

Read All