Global Neodymium [Nd-Fe-B] Magnet Market, By Product Type (Bonded NdFeB Magnet, Sintered NdFeB Magnet and Others), Application (Consumer Electronics, Automotive, healthcare, Energy- Mining and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Neodymium [Nd-Fe-B] Magnet Market
Data Bridge Market Research analyses that the neodymium [Nd-Fe-B] magnet market will witness a CAGR of 6.20% for the forecast period of 2021-2028. Growth in the demand for neodymium [Nd-Fe-B] magnet especially in the developing economies like India and China, growing use of neodymium [Nd-Fe-B] magnet for a wide range of end user applications such as consumer electronics, automotive, healthcare, energy- mining and other applications, growth and expansion of chemicals and materials industry and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the neodymium [Nd-Fe-B] magnet market. Therefore, the neodymium [Nd-Fe-B] magnet market value, which was USD 4,500 million in 2020, would stand tall by USD 7,281.29 million by 2028.
Neodymium [Nd-Fe-B] magnet is a rare earth permanent magnet that offers the highest energy product of any material and is one of the strongest and easily affordable. The neodymium [Nd-Fe-B] magnets are alloy of neodymium, iron and boron. The neodymium [Nd-Fe-B] magnets offer excellent magnetic field strength and magnetic stability and therefore are used in a wide range of applications. The neodymium [Nd-Fe-B] magnets are available in a wide range of shapes, sizes and grades, all having diverse and unique properties such as high performance, corrosion and temperature resistance, multiple magnetization patterns, and increased efficiency.
Rise in demand for neodymium [Nd-Fe-B] magnet by the electrical and electronics industry in developed and developing economies is the root cause fuelling up the market growth rate. Rising application areas for neodymium [Nd-Fe-B] magnet such as in the consumer electronics and growth and expansion of automobile industry especially in the developing economies will also directly and positively impact the growth rate of the market. Surging trend of green bonds fuelling the demand for NdFeB magnets and growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High costs associated with research and development proficiencies will dampen the market growth rate. Growing penetration of alternatives in the market will also impede the market growth rate.
This neodymium [Nd-Fe-B] magnet market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on neodymium [Nd-Fe-B] magnet market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Neodymium [Nd-Fe-B] Magnet Market Scope and Market Size
The neodymium [Nd-Fe-B] magnet market is segmented on the basis of product type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- Based on product type, the neodymium [Nd-Fe-B] magnet market is segmented into bonded NdFeB magnet, sintered NdFeB magnet and others.
The neodymium [Nd-Fe-B] magnet market is also segmented on the basis of application into consumer electronics, automotive, healthcare, energy- mining and others.
Neodymium [Nd-Fe-B] Magnet Market Country Level Analysis
The neodymium [Nd-Fe-B] magnet market is analysed and market size, volume information is provided by country, product type and application as referenced above.
The countries covered in the neodymium [Nd-Fe-B] magnet market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the neodymium [Nd-Fe-B] magnet market owing to the increase in the research and development activities and increase in the demand from numerous end-user industries in this region. Asia-Pacific will continue to undergo substantial gains during the forecast period and register the highest CAGR owing to the high economic growth in the emerging countries, growth and expansion of many end user industries in this region, and abundant availability of raw materials.
The country section of the neodymium [Nd-Fe-B] magnet market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Neodymium [Nd-Fe-B] Magnet Market Share Analysis
The neodymium [Nd-Fe-B] magnet market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to neodymium [Nd-Fe-B] magnet market.
The major players covered in the neodymium [Nd-Fe-B] magnet market report are Hitachi Metals, Ltd, Ningbo Yunsheng Co., Ltd, TDK Corporation, ysm-magnet MMC, Jingci Material Science Co., Ltd, Yantai Zhenghai Magnetic Material Co., Ltd, VACUUMSCHMELZE GmbH & Co. KG, Baotou Tianhe Magnetics Technology Co., Ltd, Arnold Magnetic Technologies, Daido Steel Co., Ltd., Electron Energy Corporation, Lynas Rare Earths Ltd, Shin-Etsu Chemical Co., Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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