van der Waals atomically thin magnetic materials have been recently discovered. They have attracted enormous attention as they present unique magnetic properties, holding potential to tailor spin-based device properties and enable next generation data storage and communication devices. To fully understand the magnetism in two-dimensions, the synthesis of 2D materials over large areas with precise thickness control has to be accomplished. Here, we review the recent advancements in the synthesis of these materials spanning from metal halides, transition metal dichalcogenides, metal phosphosulphides, to ternary metal tellurides. We initially discuss the emerging device concepts based on magnetic van der Waals materials including what has been achieved with graphene. We then review the state of the art of the synthesis of these materials and we discuss the potential routes to achieve the synthesis of wafer-scale atomically thin magnetic materials. We discuss the synthetic achievements in relation to the structural characteristics of the materials and we scrutinise the physical properties of the precursors in relation to the synthesis conditions. We highlight the challenges related to the synthesis of 2D magnets and we provide a perspective for possible advancement of available synthesis methods to respond to the need for scalable production and high materials quality.