The Global Neodymium Iron Boron NdFeB Magnet Market size was valued at USD 4.6 billion in 2018 and is projected to reach USD 7.5 billion by 2028, growing at a CAGR of 5.0% from 2021 to 2028. The major drivers for the growth of this market are increasing demand for consumer electronics such as smartphones and televisions, increase in the use of energy-saving appliances such as refrigerators and air conditioners, increased use of industrial motors in Asia Pacific countries due to rising labor cost in China, decreasing prices on neodymium iron boron magnets due to introduction of new technologies like sintered magnets which reduces production costs and makes it affordable.
Neodymium Iron Boron NdFeB Magnet is a permanent magnet made of samarium, neodymium and boron. It also contains small quantities of other elements like copper, iron, or aluminum for various reasons such as improving magnetic properties and increasing resistance to demagnetization at high temperatures. The material can be manufactured into different shapes including rectangular blocks with poles on each end (block magnets), thin plates with holes in them (discs), or round bars which are often wound up together inside coils called “E”-Magnets. These materials have wide applications due to their strong magnetic field and ability to remain steady over time even under extreme conditions.
On the basis of Types, the market is segmented into Sintered NdFeB Magnet, Bonded NdFeB Magnet.
Sintered NdFeB Magnet is a type of hard ferrite permanent magnet for general application. The process involves the material being heated to form an ingot and then chopped into pieces. These chunks are ground down in steps, with each step taking about 30 minutes per batch. A cooling lubricant such as oil or water may be sprayed on the surface during grinding so that it will not become too hot to handle and stick together due to lack of air circulation. After all, batches have been produced from one ingot, they are combined back into one large block for final processing through machining or sintering.
The Sintered NdFeB Magnet is used in various applications, such as motors and generators. It has a variety of uses because it can be made into different shapes to suit the application requirements.
Bonded magnet is a new type of composite material composed of bonded materials. It has excellent magnetic properties, easy to control the direction and actuation force in linear motion. Bonding can be achieved through thermal adhesion or chemical bonding. The machine-processable process simplifies production operations, greatly reducing manufacturing costs; this makes it one of the most competitive magnets on the market today.
On the basis of Application, the market is segmented into Consumer Electronics, Industrial Motor, Energy-Saving Appliances, and Vehicles.
Neodymium Iron Boron NdFeB Magnets are used in the small speakers of smartphones and tablets. These magnets, which generally have a diameter between 0.25 mm to 20mm, help create sound waves that can be heard through speaker systems or headphones. The neodymium iron boron magnet has replaced traditional ferrite magnets for this application because they provide higher power output while being lighter weight than their predecessors.
The demand for the magnets has been increased since it’s a crucial component of an electric motor. Moreover, this type of magnet can be incorporated into other types of machinery with different purposes such as brakes and clutches that are required to operate at high speeds. Apart from these reasons, there are some others that also contribute towards the growth in Neodymium Iron Boron NdFeB Magnet production worldwide:
Neodymium Iron Boron NdFeB Magnet is used in Energy-Saving Appliances in three different applications:
Neodymium Iron Boron NdFeB Magnet is one of the major components in a vehicle. It is used to produce strong magnets which give an efficient and economical performance for engines, actuators, alternators, sensors, or other motors that require powerful magnetic fields. In addition, it offers high energy density and low loss rates at room temperature without losing its magnetism due to heat.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North American companies have dominated the market in the past few years due to their high investments for developing new technologies which support the growing demand of NdFeB Magnet from the automotive industry. In addition, they are also focusing on military applications such as guided missiles and guns.
Up Market Research published a new report titled “Neodymium Iron Boron NdFeB Magnet Market research report which is segmented by Types (Sintered NdFeB Magnet, Bonded NdFeB Magnet), By Applications (Consumer electronics, Industrial Motor, Energy-Saving Appliances, Vehicle), By Players/Companies Hitachi Metals, MMC, Vacuumschmelze, TDK, Zhenfhai Magnetic, Ningbo Yunsheng, Tianhe Magnets, Shougang Magnetic Material, Jingci Magne”.
|Report Attributes||Report Details|
|Report Title||Neodymium Iron Boron NdFeB Magnet Market Research Report|
|By Type||Sintered NdFeB Magnet, Bonded NdFeB Magnet|
|By Application||Consumer electronics, Industrial Motor, Energy-Saving Appliances, Vehicle|
|By Companies||Hitachi Metals, MMC, Vacuumschmelze, TDK, Zhenfhai Magnetic, Ningbo Yunsheng, Tianhe Magnets, Shougang Magnetic Material, Jingci Magne|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||206|
|Number of Tables & Figures||145|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Sintered NdFeB Magnet, Bonded NdFeB Magnet and By Application Consumer electronics, Industrial Motor, Energy-Saving Appliances, Vehicle.
Some of the companies that are profiled in this report are:
Neodymium Iron Boron NdFeB Magnet Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Neodymium Iron Boron NdFeB Magnet Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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