Neodymium Iron Boron Market is expected to Hit US$ 22.2 billion by 2031 | Major Companies - Hitachi Metals, Ltd., TDK Corporation, Sumitomo Corporation, Electron Energy Corporation

Market Size and Growth:

The Global Neodymium Iron Boron Market size 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.

The Neodymium Iron Boron (NdFeB) Market refers to the global industry involved in the production, distribution, and application of high-strength permanent magnets made from an alloy of neodymium, iron, and boron. These magnets are widely used in electric vehicles, wind turbines, consumer electronics, industrial machinery, and medical devices due to their superior magnetic performance. The market encompasses raw material supply, magnet manufacturing, processing technologies, and end-use demand across various sectors driving energy efficiency and miniaturization trends and sustained technological advancements globally.

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Recent Key Developments of United States:

✅ February 2026: North American NdFeB market growth accelerated, driven by automotive and electronics demand, capturing about 20% global share with a projected CAGR of 7-9% fueled by EV adoption and policy support.

✅ January 2026: Japanese firms, including those in magnet-related manufacturing, deepened economic ties with the US through major investments, with Japan holding the top spot in US foreign direct investment at $820 billion in 2024 stock, likely extending into magnet supply chains.

✅ December 2025: MP Materials started commercial production of neodymium-praseodymium (NdPr) metal at its Independence facility in Fort Worth, Texas, marking a key advancement in domestic supply for NdFeB magnets used in automotive applications.

Recent Key Developments of Japan:

✅ February 2026: Japan advanced NdFeB innovations for technological upgrades, maintaining its role as a key producer alongside strong industrial demand. Market forecasts highlighted sustained expansion in electronics and renewables.

✅ January 2026: Projections showed Japan's NdFeB demand hitting 9,000 tons by 2030, with automotive and energy sectors needing 4,000 and 6,000 tons amid 2 million annual EVs and 10 GW wind capacity. This reflects steady market growth at 2.28% CAGR to 2033.

✅ December 2025: Japan's automotive sector consumed 42.58% of the 7,500-ton NdFeB market (3,000 tons), fueled by 1.2 million EV productions a 15% rise with 90% of brushless DC motors relying on sintered NdFeB (1-2 kg per unit).

List of the Key Players in the Neodymium Iron Boron Market:

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.
VACUUMSCHMELZE GmbH & Co. KG

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This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Segments 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:

⇥ 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)

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Chapter Outline

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Neodymium Iron Boron market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Neodymium Iron Boron Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The Global Neodymium Iron Boron market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Neodymium Iron Boron Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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