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Neodymium-Iron-Boron (NdFeB) Magnet Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
Global Neodymium-Iron-Boron (NdFeB) Magnet MarketA neodymium magnet (also known as NdFeB, NIB or Neo magnet), the most widely used type of rare-earth magnet, is a permanent magnet made from an alloy of neodymium, iron and boron to form the Nd2Fe14B tetragonal crystalline structure. Developed independently in 1982 by General Motors and Sumitomo Special Metals, neodymium magnets are the strongest type of permanent magnet commercially available. They have replaced other types of magnets in many applications in modern products that require strong permanent magnets, such as motors in cordless tools, hard disk drives and magnetic fasteners.
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The global Neodymium-Iron-Boron (NdFeB) Magnet market was valued at US$ million in 2022 and is anticipated to reach US$ million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
North American market for Neodymium-Iron-Boron (NdFeB) Magnet is estimated to increase from $ million in 2023 to reach $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.
Asia-Pacific market for Neodymium-Iron-Boron (NdFeB) Magnet is estimated to increase from $ million in 2023 to reach $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.
The key global companies of Neodymium-Iron-Boron (NdFeB) Magnet include Hitachi Metals, MMC, Vacuumschmelze, TDK, Zhenfhai Magnetic, Ningbo Yunsheng, Tianhe Magnets, Shougang Magnetic Material and Jingci Magne, etc. In 2022, the world's top three vendors accounted for approximately % of the revenue.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Neodymium-Iron-Boron (NdFeB) Magnet, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Neodymium-Iron-Boron (NdFeB) Magnet.
The Neodymium-Iron-Boron (NdFeB) Magnet market size, estimations, and forecasts are provided in terms of output/shipments (K MT) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Neodymium-Iron-Boron (NdFeB) Magnet market comprehensively. Regional market sizes, concerning products by type, by application and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Neodymium-Iron-Boron (NdFeB) Magnet manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.
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Key Segmentations
By Company
• Hitachi Metals
• MMC
• Vacuumschmelze
• TDK
• Zhenfhai Magnetic
• Ningbo Yunsheng
• Tianhe Magnets
• Shougang Magnetic Material
• Jingci Magne
Segment by Type
• Sintered NdFeB Magnet
• Bonded NdFeB Magnet
Segment by Application
• Consumer Electronics
• Industrial Motor
• Energy-Saving Appliances
• Vehicle
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