Magneto-optical materials are functional materials that can change the propagation characteristics of light under the action of a magnetic field. The typical manifestation is the Faraday effect, that is, the polarization direction of light rotates along the propagation direction. They are widely used in non-reciprocal optical devices such as optical isolators, optical circulators, and magneto-optical modulators, and are indispensable key materials in the fields of optical communications, laser systems, and quantum information.

At present, the research on magneto-optical materials is developing rapidly towards high performance, integration and functional expansion. Traditional magneto-optical crystals such as TGG and Bi:YIG are still the research focus, and they are continuously optimized around improving the Verdet constant, reducing losses and improving thermal stability; at the same time, magneto-optical thin films and on-chip integration technology have become hot topics, promoting low-temperature deposition, nanostructure regulation and silicon-optical compatibility research. New material systems are also being explored, such as topological insulators, two-dimensional magnetic materials and magneto-optical glasses, striving to achieve stronger non-reciprocal effects and device miniaturization. At the application level, high-power lasers, optical communications and quantum information have put forward higher performance requirements for magneto-optical devices, promoting the development of high damage threshold, low insertion loss and high isolation devices.

According to the new market research report “Magneto-Optical Materials - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”, published by QYResearch, the global Magneto-Optical Materials market size is projected to reach USD 175 million by 2030, at a CAGR of 8.5% during the forecast period.

Figure00001. Global Magneto-Optical Materials Market Size (US$ Million), 2020-2031

Source: QYResearch, "Magneto-Optical Materials - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”

Figure00002. Global Magneto-Optical Materials Players Ranking and Market Share (Ranking is based on the revenue of 2024, continually updated)

Source: QYResearch, "Magneto-Optical Materials - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”

Global key manufacturers of Spinning Non-woven Fabrics include Coherent、Granopt、OXIDE, etc. In 2024, the global top three players had a share approximately 89.0% in terms of revenue.

Based on the product type, Magneto-Optical Materials are divided into RIG, TGG, Others, etc. Currently RIG is the largest segment, hold a share of 62.3%.

Magneto-Optical Materials are widely used in Communication, Industrial Laser, etc. Currently Communication is the largest segment, hold a share of 64.1%.