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Introduction
NdFeB magnet (also known as Neodymium magnets) is a permanent rare earth magnet formed from an alloy of Neodymium, Iron, and Boron (hence Nd-Fe-B). NdFeB magnets are the strongest, most used rare earth magnets in the world. They provide unparalleled levels of magnetism and resistance to demagnetization when compared to ceramic, alnico, and even samarium-cobalt magnets.
There are two types of NdFeB Permanent Magnets, including bonded NdFeB Permanent Magnets and sintered NdFeB Permanent Magnets. The leading type is sintered NdFeB Permanent Magnets, with a market share over 90%.
In terms of application, NdFeB Permanent Magnets is mainly used in Electric Motors, Auto Industry, Offshore Wind Turbines and Consumer Electronics. Auto Industry is the largest segment, accounting for nearly 35%.
Market Insights
According to Publisher’s latest study, the global NdFeB Permanent Magnets market size was valued at US$ 17110 million in 2023. With growing demand in downstream market, the NdFeB Permanent Magnets is forecast to a readjusted size of US$ 21370 million by 2030 with a CAGR of 3.2% during review period.
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Global 5 largest manufacturers of NdFeB Permanent Magnets are Zhong Ke San Huan, Proterial (Hitachi Metals), Zhenghai Magnetic, Jl Mag Rare-Earth and NingboYunsheng, which make up nearly 34%. Among them. Zhong Ke San Huan dominates with nearly 9% production value share, followed by Proterial (Hitachi Metals) (8%) and Zhenghai Magnetic (6%). Top manufacturers are based in Europe, Japan and China.
China is the largest market, holding a share over 85%, followed by Japan and Europe, with shares 9% and 1% separately.
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Manmayi Raval
Research Consultant
The report on NdFeB Permanent Magnets market reflects various aspects and provide valuable insights into the industry.
Market Drivers and Challenges:
Market Drivers-
Trends in Electrification and Renewable Energy: The need for efficient and compact NdFeB magnets in motors, generators, and power systems is driven by the shift towards electrification in wind turbines, industrial machinery, and automobile propulsion. This is in addition to the growing demand for renewable energy sources.
Consumer Electronics and IT Applications: As consumer electronics like laptops, smartphones, and electric appliances become more widely used, there is a growing need for highly efficient and compact NdFeB magnets for applications like hard disk drives, speakers, sensors, actuators, and actuators.
Industrial Automation and Robotics: The need for NdFeB magnets in motors, actuators, magnetic bearings, and magnetic grippers is generated by the growth of industrial automation, robotics, and mechatronic systems in the manufacturing, logistics, and healthcare sectors.
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Market Challenges-
Technological Restrictions: The performance and applicability of NdFeB magnets in high-temperature, corrosive, and severe environments are limited by technological restrictions, such as temperature sensitivity, corrosion susceptibility, and demagnetization risks. This presents difficulties for some applications.
Recycling and Sustainability: End-of-life disposal and recycling are two areas where CFRP presents difficulties. The reduction of environmental effect and enhancement of circularity in the industry need focus on carbon fiber recycling and the creation of sustainable procedures for CFRP disposal.
Technological developments:
Grain Boundary Engineering: By manipulating the microstructures and crystallographic orientations of NdFeB magnets, grain boundary engineering techniques, such as diffusion and modification, can improve the magnet's magnetic characteristics, coercivity, and thermal stability.
Advanced Manufacturing Techniques: As a result of technological developments in CFRP manufacturing, automated systems for tape-laying and fiber placement have been developed. These methods shorten production times, improve overall CFRP component quality, and allow for exact fiber orientation.
The Hydrogen Decrepitation (HD) Process: When coupled with annealing and alloying methods, the HD process enhances the microstructure, magnetic characteristics, and texture of NdFeB magnets, hence augmenting their dependability and performance in rigorous settings.
Recommendations and opportunities:
Diversify Your Sources of Raw Materials: To reduce supply chain risks and improve sustainability, look into alternate sources of rare earth elements, invest in the development of magnet materials with lower rare earth concentration, and encourage ethical sourcing techniques.
Work Together to Drive Innovation: Promote cooperation between government agencies, academic institutions, and industry players to advance technology transfer, innovation, and information exchange in the areas of NdFeB magnet applications, materials, and production techniques.
Market Forecasts and Future Outlook:
The growing demand for electrification, renewable energy, industrial automation, and consumer electronics is expected to fuel the expansion of the global market for NdFeB permanent magnets. The way the NdFeB magnet market develops over time will be shaped by technological advancements, environmentally friendly business methods, and calculated alliances that present chances for expansion, distinction, and industry leadership. Stakeholders in the global NdFeB permanent magnets market can traverse obstacles, seize opportunities, and advance technology and sustainability by embracing innovation, sustainability, and teamwork.
Market Size and Growth: The research report provide an overview of the current size and growth of the NdFeB Permanent Magnets market. It may include historical data, market segmentation by Type (e.g., Bonded NdFeB, Sintered NdFeB), and regional breakdowns.
Competitive Landscape: The research report provides analysis of the competitive landscape within the NdFeB Permanent Magnets market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the NdFeB Permanent Magnets market. It includes factors influencing customer ' purchasing decisions, preferences for NdFeB Permanent Magnets product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the NdFeB Permanent Magnets market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting NdFeB Permanent Magnets market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the NdFeB Permanent Magnets market.
Market Segmentation:
NdFeB Permanent Magnets market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
Bonded NdFeB
Sintered NdFeB
Segmentation by application
Electric Motors
Auto Industry
Offshore Wind Turbines
Consumer Electronics
Others
Segmentation by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
Key Players
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Proterial, Ltd
Vacuumschmelze
Zhong Ke San Huan
TDK
Zhenghai Magnetic
Ningbo Yunsheng
Tianhe Magnets
Yantai Dongxing Magnetic Materials
Jingci Magnet
AT&M
Jl Mag Rare-Earth
Earth-Panda
Innuovo Technology
Shin-Etsu
Galaxy Magnets
Jintian Copper
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global NdFeB Permanent Magnets Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for NdFeB Permanent Magnets by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for NdFeB Permanent Magnets by Country/Region, 2019, 2023 & 2030
2.2 NdFeB Permanent Magnets Segment by Type
2.2.1 Bonded NdFeB
2.2.2 Sintered NdFeB
2.3 NdFeB Permanent Magnets Sales by Type
2.3.1 Global NdFeB Permanent Magnets Sales Market Share by Type (2019-2024)
2.3.2 Global NdFeB Permanent Magnets Revenue and Market Share by Type (2019-2024)
2.3.3 Global NdFeB Permanent Magnets Sale Price by Type (2019-2024)
2.4 NdFeB Permanent Magnets Segment by Application
2.4.1 Electric Motors
2.4.2 Auto Industry
2.4.3 Offshore Wind Turbines
2.4.4 Consumer Electronics
2.4.5 Others
2.5 NdFeB Permanent Magnets Sales by Application
2.5.1 Global NdFeB Permanent Magnets Sale Market Share by Application (2019-2024)
2.5.2 Global NdFeB Permanent Magnets Revenue and Market Share by Application (2019-2024)
2.5.3 Global NdFeB Permanent Magnets Sale Price by Application (2019-2024)
3 Global NdFeB Permanent Magnets by Company
3.1 Global NdFeB Permanent Magnets Breakdown Data by Company
3.1.1 Global NdFeB Permanent Magnets Annual Sales by Company (2019-2024)
3.1.2 Global NdFeB Permanent Magnets Sales Market Share by Company (2019-2024)
3.2 Global NdFeB Permanent Magnets Annual Revenue by Company (2019-2024)
3.2.1 Global NdFeB Permanent Magnets Revenue by Company (2019-2024)
3.2.2 Global NdFeB Permanent Magnets Revenue Market Share by Company (2019-2024)
3.3 Global NdFeB Permanent Magnets Sale Price by Company
3.4 Key Manufacturers NdFeB Permanent Magnets Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers NdFeB Permanent Magnets Product Location Distribution
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