Rare Earth Magnet Makers
Facts checked against sources on . How we check facts.
China makes about 94% of rare earth magnets, according to the Congressional Research Service, and the plants outside China are only now starting up. Neo Performance Materials began commercial shipments from its Estonian plant on 14 September 2026, eVAC opened a 2,000-tonne-a-year plant in South Carolina in July 2026, and MP Materials began making magnets in Texas in December 2025. Adamas Intelligence counted nearly 80,000 tonnes a year of announced non-Chinese capacity targeted for 2030 as of January 2026, but capacity announced is not output.
nearly 80,000 t
a year of announced ex-China NdFeB magnet capacity targeted for 2030 as of January 2026
Source: Adamas Intelligence
2,000 t
a year of first-phase capacity at Neo's Estonian plant, with 5,000 t planned next
Source: Fastmarkets, 17 September 2026
2,000 t
a year of nameplate capacity at eVAC's Sumter, South Carolina plant
Source: VACUUMSCHMELZE, 16 July 2026
Which companies make rare earth magnets outside China?
The table lists the main non-Chinese producers and projects with what the sources state. Capacities are nameplate or targets unless the source says otherwise.
| Company | Site | Capacity and status | Source |
|---|---|---|---|
| Neo Performance Materials | Estonia | Commercial shipments began 14 September 2026; about 2,000 t a year in the first phase, 5,000 t planned next, 20,000 t a year longer term; customers unnamed | Fastmarkets |
| eVAC Magnetics (VAC Group) | Sumter, South Carolina | About 2,000 t a year nameplate; commercial production since 2025; agreement with the Defense Logistics Agency to supply NdFeB magnet blocks; Energy Fuels agreed in June 2026 to acquire VAC Group and eVAC | VACUUMSCHMELZE |
| MP Materials | Independence, Fort Worth, Texas | Began manufacturing NdFeB magnets in December 2025; magnet qualification under way; Apple agreement for recycled-content magnets from 2027; 10X facility under construction with Department of War offtake of 100% of output; US capacity of 10,000 t a year planned with 10X | MP Materials |
| Vulcan Elements | North Carolina | Magnet maker in a $1.4 billion package with the US government; Adamas notes its ambition of 10,000 t a year of NdFeB magnets | E&E News |
| USA Rare Earth | Stillwater, Oklahoma | Magnet production line planned; a $1.6 billion federal package announced in January 2026 | Fortune |
| Noveon Magnetics | San Marcos, Texas | Recycled-content magnet maker; Nidec offtake signed February 2025; capacity not stated | SMM |
| Lynas with JS Link | Malaysia | Magnet factory planned at Kuantan with 3,000 t a year of sintered NdFeB magnet capacity under a July 2026 partnership agreement; Lynas invested about A$50 million in JS Link equity and has an exclusive supply arrangement until January 2038 | Lynas |
Chinese producers named as major suppliers in a Rare Earth Exchanges ranking include JL MAG, Ningbo Yunsheng, Zhong Ke San Huan, Tianhe, ZHmag and Earth-Panda; tonnages were not verified for this page. Japan's Proterial (formerly Hitachi Metals) is a non-Chinese producer named by SMM. Samarium-cobalt magnet makers are not covered in the sources used.
Why does it matter who makes the magnets?
It matters because the magnet is where the supply chain meets defense and vehicle makers, and rules now target its origin. The US defense procurement rule bars covered magnets with Chinese mining, refining or separation from 1 January 2027. The EU requires recycled-content disclosure from 24 May 2027. Adamas Intelligence expects more US champions to emerge in 2026 and says heavy rare earth supply and metal-making capacity are likely near-term bottlenecks for the Western magnet industry. See permanent magnets and magnet rare earths.
Frequently asked questions
Who are the largest rare earth magnet makers?
The largest rare earth magnet makers are Chinese. The Congressional Research Service says China makes about 94% of rare earth magnets, and a Rare Earth Exchanges ranking names JL MAG, Ningbo Yunsheng, Zhong Ke San Huan, Tianhe, ZHmag and Earth-Panda among the major suppliers.
Which rare earth magnet plants are operating outside China?
Plants starting up outside China include Neo Performance Materials in Estonia, which began commercial shipments in September 2026, eVAC in South Carolina with about 2,000 tonnes a year of capacity, and MP Materials in Texas, which began making magnets in December 2025.
How much magnet capacity is planned outside China?
Adamas Intelligence counted nearly 80,000 tonnes a year of NdFeB magnet capacity planned for 2030 outside China as of January 2026 and expected the figure to approach or pass 100,000 tonnes a year during 2026. Planned capacity is not output.
Is Vulcan Elements producing magnets yet?
Vulcan Elements is a North Carolina magnet maker that received a $1.4 billion package with the US government and, according to Adamas Intelligence, has an ambition to make 10,000 tonnes a year of neodymium-iron-boron magnets. The sources used for this page do not report commercial output.
Sources
Read on October 12, 2026. Figures on this page come from these documents; where a number is an estimate, the source says so.
- Congressional Research Service: Rare Earth Elements and U.S. Supply Chains (IF13171, 12 June 2026)
- Adamas Intelligence: Rare Earth Magnet Market Outlook, top predictions for 2026
- Fastmarkets: Neo begins commercial shipments from Estonia rare earth magnet plant (17 September 2026)
- VACUUMSCHMELZE: eVAC Magnetics opening ceremony in Sumter (16 July 2026)
- MP Materials: Second quarter 2026 results
- E&E News: Vulcan Elements deal (3 November 2025)
- Fortune: USA Rare Earth and Commerce (26 January 2026)
- SMM: Global rare earth recycling surges (31 August 2026)
- Lynas Rare Earths: 2026 Annual Report and Appendix 4E (26 August 2026). Read on 14 October 2026
