NdFeB Permanent Magnets (Neodymium-Iron-Boron) Market Share Driven by Growth in Consumer Electronics and Industrial Motors | Valuates Reports

NdFeB Permanent Magnets (Neodymium-iron-boron) Market
The global market for NdFeB Permanent Magnets (Neodymium-iron-boron) was valued at US$ million in the year 2024 and is projected to reach a revised size of US$ million by 2031, growing at a CAGR of %during the forecast period.

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The NdFeB Permanent Magnets market is experiencing strong growth, driven by increasing demand from consumer electronics, industrial motors, energy-saving appliances, and vehicle applications. Known for their exceptional magnetic strength and efficiency, NdFeB magnets are critical components in electric motors, renewable energy systems, and high-performance electronic devices. Rising adoption of energy-efficient technologies, electric vehicles, and industrial automation are shaping key market trends and driving overall market growth globally.

Among product types, sintered NdFeB magnets hold the largest market share, owing to their superior magnetic performance and stability, making them suitable for high-performance applications in motors and electronic devices. Bonded NdFeB magnets are growing rapidly due to their flexibility in design, cost efficiency, and ease of integration into smaller components, supporting diverse industrial and consumer applications.

In terms of applications, consumer electronics dominate the market, reflecting the widespread use of NdFeB magnets in smartphones, audio systems, and other electronic devices. Industrial motors and energy-saving appliances are also key growth drivers, as these magnets enhance efficiency and reduce energy consumption in various machinery and household appliances. Vehicle applications, particularly in electric and hybrid vehicles, are expanding rapidly, further fueling demand.

Key companies leading the NdFeB Permanent Magnets market include Hitachi Metals, MMC, Vacuumschmelze, TDK, Zhenfhai Magnetic, Ningbo Yunsheng, Tianhe Magnets, Shougang Magnetic Material, and Jingci Magne. These organizations maintain competitive market share through advanced manufacturing processes, robust quality standards, and innovation in magnet technology, ensuring reliable supply and meeting the growing demand across multiple industries.

Regionally, China dominates the NdFeB Permanent Magnets market, supported by abundant rare earth resources and well-established production infrastructure. North America and Europe are significant markets, driven by industrial applications, electric vehicle adoption, and advanced electronics manufacturing. The Asia-Pacific region, particularly Japan and South Korea, is witnessing the fastest market growth, fueled by industrial expansion, high-tech adoption, and the rising production of electric vehicles. The market forecast indicates continued expansion, driven by innovation, increasing demand for energy-efficient solutions, and the strategic importance of high-performance NdFeB magnets in industrial and consumer applications.

by Type

• Sintered NdFeB Magnet
• Bonded NdFeB Magnet

by Application

• Consumer electronics
• Industrial Motor
• Energy-Saving Appliances
• Vehicle

By Company

Hitachi Metals, MMC, Vacuumschmelze, TDK, Zhenfhai Magnetic, Ningbo Yunsheng, Tianhe Magnets, Shougang Magnetic Material, Jingci Magne

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