Neodymium-Iron-Boron (NdFeB) Magnet Market, By Product Type (Bonded NdFeB Magnet, Sintered NdFeB Magnet and Others), By Application (Consumer Electronics, Automotive, healthcare, Energy-Mining and Others), and By Region - Market Trends, Analysis, and Forecast till 2030

Neodymium-Iron-Boron (NdFeB) Magnets Market accounted for USD 12.5 Billion in 2020 and is estimated to be USD 25.7 Billion by 2030 and is anticipated to register a CAGR of 7.5%.

Neodymium-Iron-Boron magnet is one of the types of rare earth magnet which is developed by General Motors and Sumitomo Special Metals in 1982. These magnets are strongest and most affordable due to which they are use in various field. It is permanent type of magnet available commercially. These are used because of their high tensile strength and magnetic stability. For instance, these magnet are replacing other type of magnets such as motors in cordless tools, hard disk drives and magnetic fasteners. The rapidly expanding industrial applications of neodymium boost the market.

Rising initiatives by government bodies

The government is raising initiatives to stimulate the use of green technologies so as to decrease the greenhouse gas emission also drives the rare earth magnet market.

Rapidly Expanding Industrial Applications

Expanding industrial application and limited substitutes for neodymium magnets drives the market. Industrial application including automobiles, electronics and others uses rare earth magnet due to its high tensile strength and magnetic stability which boost the market.

Neodymium-Iron-Boron (NdFeB) Magnets Market is segmented based on product type, application, and region.

By Product Type, the Global Neodymium-Iron-Boron (NdFeB) Magnets Market is segmented into Bonded NdFeB Magnet, Sintered NdFeB Magnet and Others. By Application, the Global Neodymium-Iron-Boron (NdFeB) Magnets Market is segmented into Consumer Electronics, Automotive, healthcare, Energy-Mining and Others.

Regional Insights:

On region, the Neodymium-Iron-Boron (NdFeB) Magnets Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. China is the largest producer as well as consumer for this market due to availability of the raw material. Japan represents the second largest market for NdFeB followed by Europe and the USA because China provides a secure and economical supply of major raw materials as most of rare earth magnets manufacturers are in China.

Neodymium Iron Boron (NdFeB) Magnet Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented Global Neodymium-Iron-Boron (NdFeB) Magnets Market report based on product type, application, and region.

Neodymium-Iron-Boron (NdFeB) Magnets Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating in Global Neodymium-Iron-Boron (NdFeB) Magnets Market includes Hitachi Metals, Ningbo Yunsheng, TDK, Shougang Magnetic Material, MMC, Jingci Magne, Zhenfhai Magnetic, Vacuumschmelze, Tianhe Magnets.

• Hitachi Metals
• Ningbo Yunsheng
• TDK
• Shougang Magnetic Material
• MMC
• Jingci Magne
•  Zhenfhai Magnetic
•  Vacuumschmelze
•  Tianhe Magnets