Neodymium Market is Growing at CAGR 4.40%, With Size, Share, Analysis, Growth and Forecast by 2029

Data Bridge Market Research announces the release of the report Neodymium Market Size, Share & Trends Analysis Report. Market research reports such as the Neodymium Market report prove to be an ideal solution for a better understanding and lead the business growth. Market definitions, segmentation, applications, and value chain structure of this industry are all mentioned in the Neodymium Market report. This Neodymium Market report provides current as well as upcoming technical and financial details of the industry. According to this report, the market renovation will mainly take place due to the actions of key players or brands like developments, product launches, joint ventures, mergers, and acquisitions. The company profiles of all the key players and brands that are dominating this Neodymium Market have been taken into consideration here.

Neodymium market report presents complete overview of the market where it covers various aspects such as product definition, segmentation based on various parameters, and the prevailing vendor landscape.The report focuses on the Neodymium market size, segment size (mainly covering product type, application, and geography), competitor landscape, recent status, and development trends. Furthermore, the report provides detailed cost analysis, supply chain. Technological innovation and advancement will further optimize the performance of the product, making it more widely used in downstream applications. Moreover, Consumer behaviour analysis and market dynamics (drivers, restraints, opportunities) provides crucial information for knowing the Neodymium market.

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Some of the major players operating in the Neodymium market are:

Lynas Rare Earth Ltd. (Australia), Arafura Resources. (Australia), Metall Rare Earth Limited (China), HEFA Rare Earth Canada Co. Ltd. (Canada), Alkane Resources Ltd (Australia), Neo Performance Materials Inc (Canada), China Minmetals Rare Earth Co. Ltd. (China), Lenntech B.V (Netherlands), NSEROS KLAUS NONNENMACHER GmbH (Germany), Australian Strategic Materials Ltd. (Australia), American Elements (U.S), Noah Chemicals (U.S), Avalon Advanced Materials, Inc (Canada), Lotus Resources Limited (Australia), Canada Rare Earth Corporation (Canada), Rainbow Rare Earths Limited (Germany), Greenland Minerals Ltd (Australia), GanZhouQianDong Rare Earths Group Co., Ltd. (China), Infinium Metals. (U.S)

The Study Is Segmented By the Following:

The neodymium market is segmented on the basis of products, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Products

Neodymium Metal
Neodymium Nitrate
Neodymium Oxide
Application

Magnets
Catalysts
Ceramics and Glass
Others
End User

Automotive
Electrical and Electronics
Wind Energy

Global Neodymium Market Definition

Neodymium is found in ore minerals like bastnasie and monazite. Ion exchange and solvent extraction processes commercially extract it. The augmented awareness about electric vehicles and the successive increase in the demand for these vehicles from customers is the key drivers for the neodymium market. Attributing to its magnetic properties, neodymium has been gathering attention from electronic automotive manufacturers for application in magnetic motors. The manufacturers of electric vehicles are also increasing the adoption of neodymium.

Data Bridge Market Research analyses that the neodymium market was valued at USD 554.83 million in 2021 and is expected to reach USD 783.00 million by 2029, registering a CAGR of 4.40% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Neodymium is an element which has 60 atomic number and the symbol is Nd. It is considered to be one of the rare-earth metals. Neodymium is malleable and ductile silvery white metal. Which is quickly tarnishes in moisture and air. It oxidizes willingly in air and form an oxide, Nd2O3 which is easily spalls, exposing the metal to further oxidation. This metal must be stored in sealed plastic or placed in vacuum or in an unreactive atmosphere.

Recent Development

In March 2021, Guangsheng which was the Chinese rare earth manufacturer has planned to build an industrial plant for NdFeB permanent magnetic material. This project is value USD 206 million and is probable to generate 8,000 tons per year.

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Neodymium Market Dynamics

Drivers

Rise the demand for in green energy technologies
Neodymium is widely used for generating energy. Due to global warming, various countries strive to use green energy sources to fulfill their requirement. Thus, wind energy and solar energy have gained momentum. Wind energy is the most effective technique available to generate energy. These wind mills have intrinsic motors made by a special rare-earth magnet called neodymium.

Increase the use in permanent magnet
Neodymium are the most widely used in permanent magnet because it is the strongest rare earth-metal. The permanent magnet contains boron, iron, and neodymium alloy having an Nd2Fe14B tetragonal crystalline structure. Amongst different qualities of magnets like N42, N38SH, N52, N50, N48, N38, and N35 are available in the market, N52 is considered the highest grade and strongest and highest grade of neodymium magnets.

Rise the use in glass industry
Neodymium is mainly used as a colorant for glasses. When neodymium is added to glass, it can produce colors ranging from pure violet to wine red through to warm grey. It is also used to remove the green color from the glass which has induced by the presence of iron. Neodymium consisting glasses can be used for astronomical work to sharp bands for the standardization of spectral lines, as an alternative to ruby in lasers for producing coherent light and filter for infrared radiation these factors are expected to drive the growth of the neodymium market.

Opportunities

Magnets held the major volume share of during the forecast period. Neodymium along with boron and iron makes a very strong permanent magnet. This has led to the growth of small-size electronics like loudspeakers, smartphones, computer hard drives, and several automotive electronic products and consumers. With the rising population needs and the growing middle-class population, the demand for electronics is expected to grow in the long run, driving the market for neodymium and further boosting beneficial opportunities for the market's growth rate.

TOC of Global Neodymium Market:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Neodymium Market.

Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.

Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the Neodymium market.

Market Development: Comprehensive information about emerging market. This report analyses the market for various segments across geographies.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Neodymium Market.

Market Growth: The growth factors of the market are discussed where the different users of the market are described in detail.

Market Segmentation: Data and information by market player, by region, by type, by application, etc and custom research can be added.

Appendix: The final of the report contains conclusion part where the industrial experts opinions are included.

To check the complete Table of Content click here: @ https://www.databridgemarketresearch.com/toc/?dbmr=global-neodymium-market

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