Samarium Cobalt Permanent Magnets: Market Dynamics, Demand Drivers, and Application Scope by 2031

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The samarium cobalt permanent magnet market size is expected to reach US$ 1,781.18 million by 2031 from US$ 980.73 million in 2024. The market is estimated to record a CAGR of 9.4% from 2025 to 2031.

The Samarium Cobalt Permanent Magnet Market is crucial for applications where performance and reliability under extreme conditions are non-negotiable. These magnets maintain high magnetic strength even at elevated temperatures, making them indispensable for military, aerospace, and medical industries.

Samarium Cobalt Permanent Magnet Market

Advantages

  • High thermal stability (up to 350°C)

  • Strong corrosion resistance

  • Exceptional magnetic durability

Industry Use Cases

  • Guidance and missile systems

  • Turbine and aircraft engine controls

  • High-precision MRI machines

  • Robotics and EV propulsion systems

Emerging Opportunities

The race toward electric mobility and space exploration is driving demand for SmCo magnets. Research into rare earth recycling and alternatives is gaining momentum. Supply diversification, especially in Europe and the U.S., is central to future resilience.

Technology Investment and Supply Chain Trends

Collaborations between rare earth producers and clean energy sectors are fostering new magnet applications. National security initiatives are further strengthening domestic production capacity. Meanwhile, universities are advancing next-gen alloys with similar properties but reduced material dependency.

Market Leaders

  • Arnold Magnetic Technologies

  • Electron Energy Corp

  • Hitachi Metals

  • Vacuumschmelze GmbH

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