The global permanent magnets market was valued at an estimated $25.90 billion in 2025 and is projected to reach $47.40 billion by 2033, expanding at a 6.8% compound annual growth rate from 2026 to 2033. ResearchAndMarkets.com identifies electric vehicles, renewable energy, industrial automation, consumer electronics, medical equipment, aerospace and defense as key demand sources. Global EV sales reached approximately 20.7 million units in 2025, up 20% from 2024, while China recorded more than 13 million sales. The report also points to nearly 4,600 gigawatts of renewable-power capacity additions between 2025 and 2030, with solar accounting for almost 80% of growth. It analyzes ferrite, neodymium iron boron (NdFeB), alnico and samarium cobalt magnets across automotive, consumer, industrial, medical, energy, aerospace and defense applications, with regional coverage spanning North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.