Samarium Cobalt Permanent Magnet Market Outlook (2021-2031)

Samarium Cobalt Permanent Magnet Market – High-Performance Industrial Applications (2025–2031)

The Samarium Cobalt Permanent Magnet Market is specialized but growing due to its importance in high-temperature and corrosive environments. Known for excellent thermal stability and magnetic strength, SmCo magnets are used in defense, aerospace, medical devices, and automotive applications.

Market Snapshot:

• Valued at USD 980.7 million in 2024.

• Estimated to reach USD 1.78 billion by 2031.

• CAGR: 9.4% (2025–2031)

Why SmCo?

• High resistance to demagnetization.

• Effective at extreme temperatures.

• Long operational life in critical applications.

Applications:

• Defense: Missile systems, radars.

• Medical: Pacemakers, MRI-compatible tools.

• Industrial automation and robotics.

Segments Covered:

• By Type: Ring and cylinder magnets lead usage.

• By End User: Automotive and electronics are top sectors.

Regional Landscape:

• North America and Europe dominate due to defense R&D and high-tech manufacturing.

• Asia-Pacific sees fast adoption in EVs and electronics production.