Neodymium-Iron-Boron Magnet Market Size, Share, Growth, Key Players and Industry Analysis 2022-2027

MARC Group provides extensive analysis of the neodymium-iron-boron magnet industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Market Overview

The global neodymium-iron-boron magnet market size reached US$ 13.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.1 Billion by 2027, exhibiting a growth rate (CAGR) of 7.72% during 2022-2027. A neodymium-iron-boron magnet (NdFeB) refers to a kind of permanent magnet that has a tetragonal crystalline structure. It is made from an alloy of neodymium, iron and boron. It is considered to be one of the strongest and most affordable types of rare earth magnets. Available in a wide array of shapes, sizes and grades, these magnets have low curie temperature and are susceptible to oxidation. Consequently, they often require a surface finish or protective coating to minimize the effects of corrosion. Additionally, they are characterized by high magnetic stability, magnetic field strength and energy efficiency. As a result, they are widely used for several applications, such as electric motors, sensors, loudspeakers, DC motors and power tools.

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Neodymium-Iron-Boron Magnet Market Trends/Drivers:

The market is primarily driven by the rapidly expanding industrial applications of NdFeB magnets on the global level. There has been a growing demand for magnets with high magnetic strength and stability from numerous end sectors, including medical, defense, automotive and electronics. Significant growth in the end use industries is, in turn, providing a thrust to the market growth. The rising trend of equipment miniaturization is acting as a major growth-inducing factor. This is supported by rapid urbanization, inflating disposable incomes of the masses and advancements in digital technologies. Furthermore, governments of numerous countries are undertaking initiatives to promote the use of green technologies to minimize greenhouse gas (GHG) emissions, which is facilitating the uptake of these magnets. The limited availability of substitutes for NdFeB magnets is favoring the market growth

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global neodymium-iron-boron magnet market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application.

Breakup by Application:

Automobile 
Electronics
Power Generators
Medical Industry 
Wind Power 
Others

NdFeB magnets find extensive application in automobiles across the globe, which can be attributed to the growing environmental consciousness among individuals and consequently rising demand for electric vehicles (EVs).

Regional Insights:

China 
Japan
Europe
Others

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Key highlights of the report:                                                             

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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