Neodymium Iron Boron Market Grows with Demand in EVs, Wind Turbines, and Electronics, Backed by Rare Earth Magnet Innovations and Supply Chain Localization

Neodymium Iron Boron Market is expanding due to the surging demand for high-performance permanent magnets in electric vehicles, wind turbines, consumer electronics, and industrial automation, alongside critical supply chain strategies for rare earth elements.

Neodymium Iron Boron Market reached US$ 14.1 billion in 2023 and is expected to reach US$ 22.2 billion by 2031, growing with a CAGR of 5.9% during the forecast period 2024-2031.

Neodymium Iron Boron Market is positioned for robust growth, and shifting market dynamics reshaping the competitive landscape. DataM Intelligence's new report provides data-driven insights, SWOT analysis, and marketing-ready intelligence for businesses seeking to improve market penetration and campaign ROI.

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Neodymium Iron Boron Market - Recent Key Developments :

July 2025 - Lynas Rare Earths announced an expansion of its Malaysia facility to increase NdFeB magnet production capacity to meet growing EV and wind energy demand in Asia-Pacific.

June 2025 - MP Materials began construction of a U.S.-based rare earth magnet factory in Texas, aimed at creating a fully domestic NdFeB magnet supply chain for automotive and defense sectors.

May 2025 - Proterial Ltd. (formerly Hitachi Metals) signed a strategic alliance with a Japanese automotive OEM to develop next-generation NdFeB magnets optimized for compact, high-torque electric motors.

Strategic Players Driving the Neodymium Iron Boron Market Forward :

Hitachi Metals, Ltd., Shin-Etsu Chemical Co., Ltd., TDK Corporation, Sumitomo Corporation, Neo Performance Materials Inc., Adams Magnetic Products Co., Electron Energy Corporation, Ningbo Yunsheng High-Tech Magnetics Co., Ltd., Magnequench International Inc. and VACUUMSCHMELZE GmbH & Co. KG.

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Segment Covered in the Neodymium Iron Boron Market:

By Product - Bonded NdFeB Magnet, Sintered NdFeB Magnet, Others

By Application - Automotive, Renewable Energy, Industrial Machinery, Medical Device, Consumer Electronics, Others

By End-User - Automotive, Energy, Electrical and Electronics, Healthcare, Manufacturing, Aerospace, Others

Regional Analysis for Neodymium Iron Boron Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Most Frequently Asked Questions in the Neodymium Iron Boron Market Research Industry:

✒ What are the primary drivers fueling growth in the Neodymium Iron Boron Market today?
✒ Which companies are currently leading innovation and market share in the Neodymium Iron Boron Market?
✒ In what ways is the current regulatory environment influencing the Neodymium Iron Boron Market's trajectory?
✒ Which geographic regions are forecasted to experience the strongest growth in the Neodymium Iron Boron Market-and why?
✒ What are the key barriers or challenges that could limit the growth of the Neodymium Iron Boron Market?

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