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The global neodymium-iron-boron magnet market size reached a value of almost USD 15.53 billion in the year 2023. The neodymium-iron-boron magnet industry is further expected to grow at a CAGR of 7.5% between 2024 and 2032 to reach a value of almost USD 29.78 billion by 2032.
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The global neodymium-iron-boron magnet industry is driven by the flourishing energy harvesting sector. China is the leading country in the neodymium-iron-boron magnet market across the globe. This can be attributed to the high demand for these magnets from the key end-user industries in the region. China also enjoys a monopoly over the raw materials that are used to produce these magnets, which enhance the production of these magnets in the country.
Japan represents the second-largest market for neodymium-iron-boron (NdFeB) magnet across the globe, followed by Europe and the United States of America. The industry for the NdFeB magnet is further driven by the factors such as limited substitutes for neodymium magnets, rapidly expanding industrial applications, and the government initiatives to spur the use of green technologies in order to reduce the greenhouse gas emissions.
Neodymium-Iron-Boron (NdFeB) magnets are the strongest rare earth magnets, which are also affordable and cost-efficient. Even though NdFeB magnets have a lower curie temperature and are affected by oxidation, they provide the highest magnetic field strength and magnetic stability. Owing to this, they find uses in power tools, electric motors, and other products requiring strong, compact, and permanent magnets.
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The neodymium-iron-boron magnet market is divided on the basis of applications into:
The report also covers the regional markets of neodymium-iron-boron magnet like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global neodymium-iron-boron magnet market is driven by the rising high-level magnetic strength and miniaturisation of equipment in the existing and emerging applications. The market is further aided by the several government initiatives that are aimed to stimulate the use of green technologies so as to decrease the greenhouse gas emissions. Some of the other factors enhancing the industry growth of NdFeB magnet across the globe include their increasing and extensive applications in sectors such as defence, automotive, electronics, industrial, medical, and others, flourishing end-use industries, and limited substitutes. However, low Curie temperature, high cost, and propensity to undergo oxidation present some of the major constraints to the applications of NdFeB magnets.
The report gives a detailed analysis of the following key players in the global neodymium-iron-boron magnet market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Market Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Rare Earth Magnet Market Overview
8.1 Key Industry Highlights
8.2 Global Rare Earth Magnet Historical Market (2018-2023)
8.3 Global Rare Earth Magnet Market Forecast (2024-2032)
8.4 Global Rare Earth Magnet Market by Magnet Type
9 Global Neodymium-Iron-Boron Magnet Market Analysis
9.1 Key Industry Highlights
9.2 Global Neodymium-Iron-Boron Magnet Historical Market (2018-2023)
9.3 Global Neodymium-Iron-Boron Magnet Market Forecast (2024-2032)
9.4 Global Neodymium-Iron-Boron Magnet Market by Application
9.4.1 Automobile
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2024-2032)
9.4.2 Electronics
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2024-2032)
9.4.3 Power Generators
9.4.3.1 Historical Trend (2018-2023)
9.4.3.2 Forecast Trend (2024-2032)
9.4.4 Medical Industry
9.4.4.1 Historical Trend (2018-2023)
9.4.4.2 Forecast Trend (2024-2032)
9.4.5 Wind Power
9.4.5.1 Historical Trend (2018-2023)
9.4.5.2 Forecast Trend (2024-2032)
9.4.6 Others
9.5 Global Neodymium-Iron-Boron Magnet Market by Region
9.5.1 North America
9.5.1.1 Historical Trend (2018-2023)
9.5.1.2 Forecast Trend (2024-2032)
9.5.2 Europe
9.5.2.1 Historical Trend (2018-2023)
9.5.2.2 Forecast Trend (2024-2032)
9.5.3 Asia Pacific
9.5.3.1 Historical Trend (2018-2023)
9.5.3.2 Forecast Trend (2024-2032)
9.5.4 Latin America
9.5.4.1 Historical Trend (2018-2023)
9.5.4.2 Forecast Trend (2024-2032)
9.5.5 Middle East and Africa
9.5.5.1 Historical Trend (2018-2023)
9.5.5.2 Forecast Trend (2024-2032)
10 North America Neodymium-Iron-Boron Magnet Market Analysis
10.1 United States of America
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Canada
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Europe Neodymium-Iron-Boron Magnet Market Analysis
11.1 United Kingdom
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Germany
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 France
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Italy
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Asia Pacific Neodymium-Iron-Boron Magnet Market Analysis
12.1 China
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Japan
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 India
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 ASEAN
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Australia
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Latin America Neodymium-Iron-Boron Magnet Market Analysis
13.1 Brazil
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Argentina
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Mexico
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Others
14 Middle East and Africa Neodymium-Iron-Boron Magnet Market Analysis
14.1 Saudi Arabia
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 United Arab Emirates
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Nigeria
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 South Africa
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Value Chain Analysis
17 Price Analysis
17.1 Price Structure
17.2 Price Trends
18 Manufacturing Process
18.1 Detailed Process Flow
18.2 Operations Involved
18.3 Mass Balance
19 Project Details, Requirements and Costs Involved
19.1 Land Requirements and Expenditures
19.2 Construction Requirements and Expenditures
19.3 Plant Layout
19.4 Plant Machinery
19.5 Machinery Pictures
19.6 Raw Material Requirements and Expenditures
19.7 Raw Material and Final Product Pictures
19.8 Packaging Requirements and Expenditures
19.9 Transportation Requirements and Expenditures
19.10 Utility Requirements and Expenditures
19.11 Manpower Requirements and Expenditures
19.12 Other Capital Investments
20 Loans and Financial Assistance
21 Project Economics
21.1 Capital Cost of the Project
21.2 Techno-Economic Parameters
21.3 Product Pricing and Margins Across Various Levels of the Supply Chain
21.4 Taxation and Depreciation
21.5 Income Projections
21.6 Expenditure Projections
21.7 Financial Analysis
21.8 Profit Analysis
22 Competitive Landscape
22.1 Market Structure
22.2 Company Profiles
22.2.1 Integrated Magnetics
22.2.1.1 Company Overview
22.2.1.2 Product Portfolio
22.2.1.3 Demographic Reach and Achievements
22.2.1.4 Certifications
22.2.2 Arnold Magnetic Technologies
22.2.2.1 Company Overview
22.2.2.2 Product Portfolio
22.2.2.3 Demographic Reach and Achievements
22.2.2.4 Certifications
22.2.3 Ningbo Relay Magnetics Co., Ltd
22.2.3.1 Company Overview
22.2.3.2 Product Portfolio
22.2.3.3 Demographic Reach and Achievements
22.2.3.4 Certifications
22.2.4 Dura Magnetics, Inc.
22.2.4.1 Company Overview
22.2.4.2 Product Portfolio
22.2.4.3 Demographic Reach and Achievements
22.2.4.4 Certifications
22.2.5 Others
23 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Rare Earth Magnet Market: Key Industry Highlights, 2018 and 2032
2. Global Rare Earth Magnet Historical Market: Breakup by Magnet Type (USD Billion), 2018-2023
3. Global Rare Earth Magnet Market Forecast: Breakup by Magnet Type (USD Billion), 2024-2032
4. Global Neodymium-Iron-Boron Magnet Market: Key Industry Highlights, 2018 and 2032
5. Global Neodymium-Iron-Boron Magnet Historical Market: Breakup by Application (USD Billion), 2018-2023
6. Global Neodymium-Iron-Boron Magnet Market Forecast: Breakup by Application (USD Billion), 2024-2032
7. Global Neodymium-Iron-Boron Magnet Historical Market: Breakup by Region (USD Billion), 2018-2023
8. Global Neodymium-Iron-Boron Magnet Market Forecast: Breakup by Region (USD Billion), 2024-2032
9. North America Neodymium-Iron-Boron Magnet Historical Market: Breakup by Country (USD Billion), 2018-2023
10. North America Neodymium-Iron-Boron Magnet Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Europe Neodymium-Iron-Boron Magnet Historical Market: Breakup by Country (USD Billion), 2018-2023
12. Europe Neodymium-Iron-Boron Magnet Market Forecast: Breakup by Country (USD Billion), 2024-2032
13. Asia Pacific Neodymium-Iron-Boron Magnet Historical Market: Breakup by Country (USD Billion), 2018-2023
14. Asia Pacific Neodymium-Iron-Boron Magnet Market Forecast: Breakup by Country (USD Billion), 2024-2032
15. Latin America Neodymium-Iron-Boron Magnet Historical Market: Breakup by Country (USD Billion), 2018-2023
16. Latin America Neodymium-Iron-Boron Magnet Market Forecast: Breakup by Country (USD Billion), 2024-2032
17. Middle East and Africa Neodymium-Iron-Boron Magnet Historical Market: Breakup by Country (USD Billion), 2018-2023
18. Middle East and Africa Neodymium-Iron-Boron Magnet Market Forecast: Breakup by Country (USD Billion), 2024-2032
19. Global Neodymium-Iron-Boron Magnet Market Structure
The global neodymium-iron-boron magnet market reached a value of USD 15.53 billion in 2023.
The market is projected to grow at a CAGR of nearly 7.5% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 29.78 billion by 2032.
The robust growth of the energy harvesting sector, the expanding industrial applications of neodymium-iron-boron magnets, and the introduction of favourable government initiatives aimed at promoting green energy are driving the market growth.
The key trends guiding the market include the surging trend of miniaturisation of equipment, the growing use of NdFeB magnets in the electronics, defence, medical, and industrial sectors, and the increasing attempts to reduce greenhouse gas emissions.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
Automobile, electronics, power generators, medical industry, and wind power, among others, are the significant applications of neodymium-iron-boron magnet.
The leading players in the market are Integrated Magnetics, Arnold Magnetic Technologies, Ningbo Relay Magnetics Co., Ltd, and Dura Magnetics, Inc., among others.
The global neodymium-iron-boron magnet market attained a value of USD 15.53 billion in 2023, driven by the miniaturisation of equipment. Aided by the rising high-level magnetic strength, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7.5%. The industry is projected to reach USD 29.78 billion by 2032.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its applications, the global neodymium-iron-boron magnet market can be segmented into automobile, electronics, power generators, medical industry, and wind power, among others. The major regional markets for neodymium-iron-boron magnet are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above industry include Integrated Magnetics, Arnold Magnetic Technologies, Ningbo Relay Magnetics Co., Ltd, and Dura Magnetics, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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