According to our (Global Info Research) latest study, the global SmCo Permanent Magnetic Material market size was valued at US$ 425 million in 2025 and is forecast to a readjusted size of US$ 590 million by 2032 with a CAGR of 4.7% during review period.
Global sales of SMCO permanent magnet materials reached 3,000 tons in 2025, with an average price of $123/kg.
Samarium-cobalt (SMCO) permanent magnet materials are rare-earth permanent magnet alloys with samarium (Sm) and cobalt (Co) as the main components, belonging to the second generation of rare-earth permanent magnet materials. Their general chemical formula is usually SmCo₅ (1:5 type) or Sm₂Co₁₇ (2:17 type), and they are manufactured through sintering using powder metallurgy. Samarium cobalt permanent magnets possess extremely high magnetic energy product (BHmax up to 15–32 MGOe), excellent high-temperature resistance (maximum operating temperature up to 300–350°C, some high grades exceeding 500°C), outstanding demagnetization resistance, and good corrosion resistance. Furthermore, they do not contain neodymium (Nd), a rare earth element with low strategic sensitivity, and perform better than neodymium iron boron (NdFeB) in extreme environments.
The raw material supply chain for SmCo permanent magnets is heavily concentrated in two sectors: rare earths and strategic metals. Core raw materials include samarium (Sm) and cobalt (Co). Samarium is primarily extracted from rare-earth ores such as monazite and bastnäsite, with China possessing the world's largest rare-earth reserves and smelting/separation capacities. Cobalt supplies rely heavily on copper-cobalt mines in the Democratic Republic of the Congo (DRC) and nickel-cobalt mines in Indonesia; the global supply chain is highly concentrated, and prices are subject to significant volatility. Additionally, the production of 2:17-type SmCo requires the inclusion of small amounts of elements such as iron (Fe), copper (Cu), and zirconium (Zr) to optimize magnetic properties. Upstream industry segments include rare-earth oxide smelting, metal reduction, and alloy melting; China holds a dominant global position in upstream rare-earth separation and master alloy production. In 2025, China's Ministry of Commerce implemented export licensing controls on rare-earth-related products, further highlighting the geopolitical sensitivity of the supply chain. In terms of cost structure, Samarium-Cobalt (SmCo) permanent magnet materials are classic examples of products where costs are overwhelmingly driven by raw materials; cost fluctuations are determined almost entirely by the prices of upstream rare earth elements and cobalt. Based on the industry benchmark where magnets account for approximately 30% of the total cost of permanent magnet synchronous motors—and reflecting the typical cost composition of the rare earth permanent magnet sector—direct raw materials (samarium metal, cobalt metal, minor amounts of iron/copper/zirconium, and auxiliary materials) constitute 70–85% of the total cost. Cobalt metal is often the most significant variable in this cost structure due to its high price volatility (with prices fluctuating sharply between $15 and $40 per pound during 2024–2025). Energy consumption and equipment depreciation associated with the powder metallurgy sintering process account for approximately 5–10%; precision machining (grinding, wire-cut EDM, surface treatment) accounts for about 5–8%; and labor and administrative expenses account for roughly 5–10%.
This report is a detailed and comprehensive analysis for global SmCo Permanent Magnetic Material market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global SmCo Permanent Magnetic Material market size and forecasts, in consumption value ($ Million), sales quantity (Kilotons), and average selling prices (US$/kg), 2021-2032
Global SmCo Permanent Magnetic Material market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Kilotons), and average selling prices (US$/kg), 2021-2032
Global SmCo Permanent Magnetic Material market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Kilotons), and average selling prices (US$/kg), 2021-2032
Global SmCo Permanent Magnetic Material market shares of main players, shipments in revenue ($ Million), sales quantity (Kilotons), and ASP (US$/kg), 2021-2026
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for SmCo Permanent Magnetic Material
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global SmCo Permanent Magnetic Material market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Arnold Magnetic Technologies (CH), Permag (GB), Shin-Etsu Chemical (JP), Vacuumschmelze (DE), Ningbo Ningang Permanent Magnet Materials (CN), Hangzhou Permanent Magnet Group (CN), Chengdu Galaxy Magnets (CN), Ningbo Ketian Magnet Industry (CN), Hangzhou Shengde Magnet Industry (CN), Ningbo Zhaobao Magnetic Industry (CN), etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
SmCo Permanent Magnetic Material market is split by Type and by Application. For the period 2021-2032, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
SmCo5
Sm2Co17
Market segment by Process
Sintering
Bonding
Market segment by Product Form
Block
Arc
Ring
Sheet/Slice
Other
Market segment by Application
Aerospace
Defense & Military
Communication Equipment
Medical Equipment
New Energy Vehicles
Other
Major players covered
Arnold Magnetic Technologies (CH)
Permag (GB)
Shin-Etsu Chemical (JP)
Vacuumschmelze (DE)
Ningbo Ningang Permanent Magnet Materials (CN)
Hangzhou Permanent Magnet Group (CN)
Chengdu Galaxy Magnets (CN)
Ningbo Ketian Magnet Industry (CN)
Hangzhou Shengde Magnet Industry (CN)
Ningbo Zhaobao Magnetic Industry (CN)
Ningbo Kexing Materials (CN)
Ningbo Ni Lan De Magnetic Industry (CN)
Cixi Pengcheng Magnetic Steel (CN)
Tianhe Magnets (CN)
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe SmCo Permanent Magnetic Material product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of SmCo Permanent Magnetic Material, with price, sales quantity, revenue, and global market share of SmCo Permanent Magnetic Material from 2021 to 2026.
Chapter 3, the SmCo Permanent Magnetic Material competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the SmCo Permanent Magnetic Material breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2021 to 2032.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2021 to 2032.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2021 to 2026.and SmCo Permanent Magnetic Material market forecast, by regions, by Type, and by Application, with sales and revenue, from 2027 to 2032.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of SmCo Permanent Magnetic Material.
Chapter 14 and 15, to describe SmCo Permanent Magnetic Material sales channel, distributors, customers, research findings and conclusion.
Summary:
Get latest Market Research Reports on SmCo Permanent Magnetic Material. Industry analysis & Market Report on SmCo Permanent Magnetic Material is a syndicated market report, published as Global SmCo Permanent Magnetic Material Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032. It is complete Research Study and Industry Analysis of SmCo Permanent Magnetic Material market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.