Neodymium Market Expected to Witness a Sustainable Growth Over 2031

𝐍𝐞𝐨𝐝𝐲𝐦𝐢𝐮𝐦 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

Transparency Market Research delivers key insights on the global neodymium market. In terms of revenue, the global neodymium market is estimated to expand at a CAGR of 8% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global neodymium market.

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 -https://www.transparencymarketresearch.com/neodymium-market.html

The global neodymium market is adversely affected by factors, including volatility of prices and availability of substitutes.

𝐍𝐞𝐨𝐝𝐲𝐦𝐢𝐮𝐦 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

The increase in the demand for neodymium in various applications such as permanent magnets, catalysts, laser crystals, neodymium glasses, and electric capacitors is expected to drive the neodymium market during the forecast period.

Neodymium magnet, which is also known as NdFeB, Neo magnet, or NIB, is the common type of rare-earth magnet. It is a permanent magnet made from an alloy of neodymium, iron, and boron. Neodymium magnets are the strongest magnets in the world. Therefore, even a tiny magnet piece can be very effective. Neodymium magnets are used in various applications. Industries such as electrical motors, medical science, and renewable energy primarily use super strength neodymium magnets. Neodymium magnets are widely used in satellite communications, radar technology, remote control telemetry, electronic countermeasures, and electronic tracking. Additionally, these magnets are used in cathode ray tubes, magnetron traveling wave tubes, magnetron tubes, and circulators. More than one-third of the output of the neodymium magnets is used to manufacture various permanent magnet motors. Permanent magnet motors save power; and are lightweight and compact.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=11477

They also possess high specific power. Neodymium magnets are extensively used in electric bicycle motors, elevator traction machine motors, refrigerator air conditioner motors, wind-driven motors, etc. Neodymium magnets are used in various consumer, commercial, industrial, and technical applications where strong permanent magnets are required. Neodymium magnets possess high magnetic strength. Common applications of neodymium magnets include holding systems requiring very high forces, sensors, reed switches, hard disk drives, audio equipment, acoustic pick-ups, headphones & loudspeakers, MRI scanners, magnetically coupled pumps, motors & generators, magnetic tool holders, magnetic bearings, dental instruments, door catches, medical devices, magnetic separators, lifting machinery, crafts & model making, hanging artwork, levitation device, pop displays, commercial signage, packaging closures, and jewelry clasps.

Neodymium-based Ziegler catalyst system is known to produce polydienes with high cis-1,4 content. It is generally believed that in Ziegler catalytic systems, a halide or pseudohalide, whether in the catalyst itself or a separate source, is required for the success of the polymerization.

Neodymium catalyst is used for the polymerization of dienes and polar vinyl monomers. Polymethacrylates, polyacrylates, and poly(vinyl acetate) are some commonly used classes of polymers that are synthesized industrially through radical and anionic polymerization techniques. Large amounts of neodymium are also used as a catalyst for petroleum refinery in the oil industry, as neodymium improves catalytic processes.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=11477

Neodymium is used largely in laser technology. It is widely used in the form of the trivalent ion Nd3+ as the laser active dopant of gain media based on various host materials, including crystals and glasses. Nd-based Yttrium Aluminum Garnet (YAG) lasers are used in various medical applications such as drilling, welding, and material processing.

𝐍𝐞𝐨𝐝𝐲𝐦𝐢𝐮𝐦 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐬

Asia Pacific is a highly lucrative region of the global neodymium market. China accounted for a substantial share of the neodymium market in Asia Pacific in 2020. The market in the country is likely to expand at a rapid pace during the forecast period. The market in Japan is also estimated to expand at a rapid pace during the forecast period. The permanent magnet segment in Asia Pacific is the largest in the world.

North America is another major consumer of neodymium, due to the rise in the demand for neodymium in various applications such as permanent magnets, catalysts, laser crystals, and neodymium glasses. Furthermore, the availability of raw materials such as monazite and bastnäsite helps meet the rising demand for neodymium in the region. This is an important factor fueling the demand for neodymium in North America.

Europe held key share of the global neodymium market in 2020. Italy dominated the market in 2020. It is estimated to contribute the maximum share of the market in Europe during the forecast period. Russia & CIS and Germany are some other countries in Europe that are expected to further drive the neodymium market during the forecast period.

The neodymium market in Middle East & Africa is likely to expand at significant pace in the near future, owing to the presence of large numbers of permanent magnets, catalysts, and laser crystal manufacturers in the region.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=11477

𝐍𝐞𝐨𝐝𝐲𝐦𝐢𝐮𝐦 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

The global neodymium market was moderately consolidated in 2020. A small number of players dominated the market. Key players operating in the global neodymium market are Lynas Rare Earth Ltd., Arafura Resources, Metall Rare Earth Limited, HEFA Rare Earth Canada Co. Ltd., Alkane Resources Ltd, Neo Performance Materials Inc., China Minmetals Rare Earth Co. Ltd., Lenntech Water Treatment Solutions, Australian Strategic Materials Ltd., American Elements, and Noah Technologies Corporation.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

Rohit Bhisey
Transparency Market Research Inc.
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This release was published on openPR.