Magnetostrictive Materials Market Size - By Material Type, Form, End Use Industry, Application, Share, Growth Forecast, 2025 - 2034

Magnetostrictive Materials Market Size

The global magnetostrictive materials market was valued at USD 1.3 billion in 2024. The market is expected to grow from USD 1.4 billion in 2025 to USD 2.7 billion in 2034 at a CAGR of 7.3%.
 

Magnetostrictive materials are in demand owing to many reasons. Magnetostrictive materials have growing applications across many industries including automotive, healthcare, aerospace and consumer electronics. These materials contain unique properties, for example the ability to change shape or dimension when exposed to magnetic fields which makes them suitable for highly advanced technological applications. In the automotive industry, these materials are increasingly used in sensors and actuators to improve vehicle efficiency, performance and safety. Magnetostrictive materials are used in torque sensors which are important in power steering systems. The growing demand for electric and hybrid vehicles is further expected to boost demand for magnetostrictive materials market. Similarly in the healthcare sector also these materials are utilized for accurate diagnostics and treatment. The aerospace sector is also using magnetostrictive materials for structural health monitoring and vibration control, boosting their application.
 

The healthcare sector is witnessing substantial growth, according to the data from centers for medicare and medicaid services healthcare expenditure in U.S. is expected to reach USD 7.2 trillion by 2031 driven by advancements in diagnostics and medical devices. In the aerospace industry, The Federal Aviation Administration (FAA) stated that commercial aircraft fleet globally is expected to grow from around 25,000 in 2020 to over 35,000 by 2035. This growth in aviation will boost demand for material that provided vibration control. Similarly, the electric vehicle market is also expanding rapidly, according to the International Energy Agency (IEA) global EV sales crossed 10 million units in 2022, with projections of 35 % year on year growth. Magnetostrictive materials have crucial applications in all the above-mentioned sectors. The rise of aerospace, healthcare, and EV industry will in turn boost the demand for market.
 

Magnetostrictive Materials Market Trends

Increasing focus on miniaturization- Nowadays industries are demanding smaller, lighter and more efficient devices, which has led to the development of compact magnetostrictive materials which maintain high performance and reduce size and weight. Also, integration of magnetostrictive materials with advanced sensor technologies is also gaining popularity, enabling real time feedback and additional control in applications like robotics and automotive systems.
 

Technological advancements- Technological advancements are playing a crucial role in ongoing research and development focused on creating new composites and alloys with superior magnetostrictive properties, for example higher sensitivity and durability. These innovations are enhancing the scope of application for these materials, making them valuable in high growth industries.
 

Magnetostrictive Materials Market Analysis

In terms of material type, the market is segmented into rare earth materials, iron-based alloys, nickel-based alloys, cobalt-based alloys, and others. Rare earth materials segment dominated the market by generating USD 589.5 million revenue in 2024 and expected to reach USD 1.2 billion by 2034.
 

The rare earth segment dominates the magnetostrictive material market because of its better properties in many applications. Rare earth materials such as terbium is important for the production of magnetostrictive materials due to their high magnetic coefficients and extraordinary magnetic properties. These properties make them useful in applications that require accuracy and efficiency, such as sensors, actuators and turns.
 

In addition, the increasing demand for advanced technologies in areas such as motor vehicles, aviation and consumer electronics has promoted the adoption of rare earth -based magnetic materials. For example, these materials are used in large fuel injection systems, sonar equipment and vibration control systems, where their ability to convert magnetic energy into mechanical energy (and vice versa) is important.
 

The availability of rare earth materials, especially in areas such as China, has supported the dominance of the section, which has an important part of the global rare earth reserves. Governments and private actors invest in the discovery and development of rare earth resources to ensure a stable supply, making the status of the section further strengthening in the market. Since industries continue to innovate and expand, the rare soil content segment is expected to maintain its leadership in the magnetostrictive material market during the forecast period.
 

With respect to application, the market is segmented as sensors and transducers, actuators and motion control, energy harvesting systems, sonar and underwater acoustics, structural health monitoring, and others. The sensors and transducers segment dominated the market by holding 34.9% share in the market.
 

The sensors and transducers segments dominated the magnetostrictive materials market owing to its extensive application across many industries. Magnetostrictive materials are valued for their ability to convert magnetic energy into mechanical energy and the other way around, which makes them ideal for sensors and transducers. Magnetostrictive materials offer high sensitivity, durability and precision which are vital in application in automotive and consumer electronics sector.
 

In industrial automation, magnetostrictive sensors are widely used for measuring position and displacement, which ensures accurate and reliable performance in a stiff environment. The automotive industry also depends on these sensors for applications such as gas position and monitoring of the suspension system, where accurate and strength are needed. In addition, the increasing adoption of smart devices and IoT technologies has improved the demand for transducers in consumer electronics, as they enable effective energy conversion and improved unit functionality.
 

In addition, progress in magnetostrictive materials, such as better magnetostrictive alloys, has increased performance properties, which improves adoption in high precision applications. Increased attention to automation and increasing demand for advanced sensing technologies is expected to maintain dominance of sensors segments in the Market for magnetostrictive materials during the forecast period. These factors contribute to the leading position of the market.
 

Regarding the country landscape, the U.S. magnetostrictive materials market is anticipated to depict a CAGR of 7.1% from 2025 to 2034. The U.S. industry accounted for USD 313.4 million worth of revenue in 2024.
 

Increasing magnetostrictive materials in industrial applications are an important driver for the US market. These materials are widely used in sensors, actuators and turns, such as their ability to convert magnetic energy into mechanical energy and vice versa. Industries such as production, motor vehicle and aerospace utilize these materials to increase the accuracy and efficiency of operations. For example, magnetostrictive sensors are widely used in industrial automation for accurate position and displacement measurement. The need to increase the emphasis on automation and the requirement for advanced sensing technology is expected to increase the demand for magnetostrictive materials during the forecast period.
 

The health care system appears to be an important end user of magnetostrictive materials in the United States. These materials are quickly included in medical equipment such as ultrasound imaging equipment, surgical equipment and medical equipment. Their high sensitivity and reliability make them ideal for important health services. In addition, the increasing incidence of chronic diseases and the increasing light medical population is increasing the demand for advanced medical technologies, leading to further boost to use magnetic materials. This development path is likely to maintain this development path by focusing on ongoing progress in medical equipment production and improvement of patient results.
 

Changes to renewable energy sources create new opportunities for magnetostrictive materials in the US market. These materials are used in energy harvesting systems, wind turbines and other applications.
 

In 2023, the US health sector reached USD 4.9 trillion, which represents an average of USD 14,570 per person and 17.6% of the country's GDP. These expenses included Medicare, with important allocation for hospital care, medical services and prescription medicines. Strong financial investments in the health care system improve the progress of medical technologies, including the development and use of magnetostrictive materials. These materials known for their ability to change size under magnetic areas are used quickly in medical equipment such as sensors, actuators and imaging equipment. Adopted health care financing supports research and innovation, which enables the integration of magnetostrictive materials into the medicinal solutions. This integration unit improves accuracy, efficiency and reliability. As the health care system increases, the demand for advanced materials such as magnetostrictive compounds is expected to increase, further promotion of innovation and contribute to the technological development of the region.
 

Magnetostrictive Materials Market Share

The top 5 companies in the magnetostrictive materials industry include TdVib LLC, Grirem Advanced Materials Co., Ltd., Metglas Inc., Cedrat Technologies, and Aperam S.A. To gain competitive advantage manufacturers opt for various strategies including new product launch, mergers and acquisitions, capacity expansion.
 

Magnetostrictive Materials Market Companies

TDVIB LLC: TDVIB LLC specializes in the development and production of advanced magnetostrictive materials for different industrial applications. The company focuses on innovative solutions that improve the performance of sensors, actuators and energy harvesting systems. With commitment to research and development, TDVIB distributes high quality products to meet the developed requirements for the magnetostrictive materials market. Its expertise in material science and engineering presents it as a prominent player in running technological advances in the industry, ensuring reliable and effective solutions for their global customers.
 

Grirem Advanced Materials Co., Ltd.: Grirem Advanced Materials Co., LTD is an important supplier of magnetostrictive materials, and offers a wide range of products for industrial and commercial applications. The company emphasizes innovation and stability in the production processes and ensures high -performing materials that meet strict quality standards. Greyum's extensive research ability and condition -Art functions make it possible to meet the increasing demand for magneto -style materials in areas such as motor vehicles, aerospace and electronics. Its global appearance and customer-centric views make it a reliable name in the magnetic-rich material market.
 

Fin Glass Inc. The company serves various industries, including energy, motor vehicles and consumer electronics by offering innovative solutions to increase efficiency and performance. Fin Glass utilizes its expertise in science to develop state -Art -art products that meet the specific requirements of their customers.
 

CEDRAT technologies: CEDRAT technologies are a well-known supplier of advanced magnetostrictive materials and metronic solutions, catering industries such as aerospace, defense and medical equipment. The company specializes in the design and production of actuators, sensors and turns and swings. Cedrat Technologies Innovation and Commitment to accurate design ensures reliable and effective products that meet the customer's strict needs. Its expertise in magneto -style materials present it as an important contributor in the promotion of smart material technologies in the global market.
 

Aperam S.A.: Aperam S.A. The production of special materials is a global leader, including magnetostrictive alloys, serving a wide range of industrial applications. The company focuses on providing high quality permanent solutions that meet the developed needs of customers. The advanced production processes for aperam and strong research and development skills make it possible to produce new materials with better performance properties. With environmental responsibility and commitment to customers' satisfaction, Aperam S.A, magnetic materials are still a prominent player in the market, which drives development and innovation throughout the industry.
 

Magnetostrictive materials Industry News

• In May 2024, NSK Ltd. developed a practical magnetostrictive torque sensor (3rd-generation sensor) for automobiles which provides many benefits like comfortable ride, failure prediction, extension of driving mileage and performance improvement owing to its weight-reducing and space-saving features, while also shortening the development period.
   
• The recently created product was on display at the Automotive Engineering Exposition 2024 Yokohama, which took place from May 22–24, 2024, at Pacifico Yokohama
   
• In December 2024, The Althen sensor and control announced the launch of the latest selection of flow meter and control switch. These new products are designed to increase the accuracy and efficiency of measurement and controlling fluid currents in different industrial applications. The company aims to integrate the state art technology into the offers and address the growing demand for advanced flow measurement.
   
• The recently introduced flow meter and control switches are designed to meet the requirements for industries such as chemical processing, water treatment and energy. They facilitate better accuracy, durability and easy integration into existing systems. Althane sensors and control emphasize that these products are designed to provide reliable performance even in a challenging environment, ensuring optimal operating efficiency for end users.
   
• With this launch, the Allthen sensors and control sensors and control solutions continue to expand their portfolio and strengthen their position as a leading player in the market. The company is committed to innovation and customer-focused solutions, the goal is to meet the developed needs of the customers. This development process is in line with the broader industry trend of using advanced technologies to improve automation and efficiency.

• The magnetostrictive materials market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) & volume (Tons) from 2021 to 2034, for the following segments:

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Market, By Material Type

• Rare earth materials
  • Terfenol-D (Tb-Dy-Fe)
  • Samarium-iron compounds
  • Other rare earth materials 
• Iron-based alloys
  • Galfenol (Fe-Ga)
  • Alfenol (Fe-Al)
  • Other iron-based alloys
• Nickel-based alloys
  • Nickel-iron alloys
  • Other nickel-based alloys
• Cobalt-based alloys
• Other materials

Market, by Form

• Bulk materials
  • Rods
  • Plates
  • Blocks
  • Other bulk forms 
• Thin films
• Composites
  • Particulate composites
  • Laminated composites
  • Other composite forms
• Powders
• Other forms

Market, By Application

• Sensors and transducers
  • Force and torque sensors
  • Position and displacement sensors
  • Stress and strain sensors
  • Magnetic field sensors
  • Acoustic and ultrasonic transducers
  • Other sensors and transducers 
• Actuators and motion control
  • Linear actuators
  • Rotary actuators
  • Precision positioning systems
  • Vibration control systems
  • Other actuator applications
• Energy harvesting systems
  • Vibration energy harvesters
  • Acoustic energy harvesters
  • Other energy harvesting applications           
• Sonar and underwater acoustics
• Structural health monitoring
• Other applications

Market, By End Use Industry

• Automotive
  • Engine and powertrain applications
  • Suspension and chassis applications
  • Sensor applications
  • Other automotive applications 
• Aerospace and defense
  • Aircraft systems
  • Defense applications
  • Space applications
  • Other aerospace and defense applications
• Energy and power
  • Energy harvesting
  • Power generation
  • Other energy and power applications                       
• Industrial
  • Manufacturing equipment
  • Process control
  • Other industrial applications
• Consumer electronics
• Healthcare and medical
• Marine
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of Middle East & Africa