NdFeB Permanent Magnets Market: Industry Size, Share, Analysis and Forecast 2024 | Hexa Research

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Latest Research on NdFeB Permanent Magnets Market Size, Market Share, Application Analysis, Regional Outlook, Growth, Trends, Competitive Scenario and Forecasts 2024

Rare earth permanent magnet NdFeB (Neodymium-Iron-Boron) is a new kind of magnetic material which is having excellent magnetic characteristics (high energy product and high coercive force etc.) and relatively low cost. It is getting to replace the traditional magnets of hard ferrite, AlNiCo, and SmCo in many fields such as electro-acoustic devices, electric motors, sensors/transducers, instruments and meters, auto industry, petro-chemical industry and magnetic health-care products, etc.

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NdFeB magnets are very powerful. They have a higher Maximum Energy Product, (BH) max, than SmCo magnets. (BH) max of NdFeB can easily reach 30 MGOe and even goes up to 52 MGOe. NdFeB magnets can substitute SmCo magnets in most cases, predominantly where operating temperature is less than 80°C. The temperature stability of NdFeB is not as good as SmCo magnets. Magnetic performance of NdFeB magnets will deteriorate rapidly above 200°C. Compared to SmCo magnets, the corrosion and oxidation resistance of NdFeB is relatively low.

Consequently, a surface coating is frequently applied on NdFeB magnets. Zinc or nickel coating is common used as a protective layer. The other materials such as gold, brass, tin or polymer (epoxy) are also used for this purpose. Global NdFeB Permanent Magnets (Neodymium-iron-boron) Market is segmented By Types into Sintered NdFeB Magnet, Bonded NdFeB Magnet, Others. Global NdFeB Permanent Magnets (Neodymium-iron-boron) Market is segmented By Application into Consumer electronics, Industrial Motor, Energy-saving appliances, and Vehicle. Global NdFeB Permanent Magnets (Neodymium-iron-boron) Market is segmented by geography into North America, China, Europe, Southeast Asia, Japan, and India.

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Asia Pacific is the control region for the production and use of NdFeB magnets. South America’s market is predictable to experience high growth and is projected to grow at a high CAGR during the forecast period. The market in Asia Pacific is growing at a fast pace due to increasing demand from end user industries, particularly in countries such as China and Japan. The market is increasing slowly in Europe and Eurasia, but it will continue to grow at a considerable pace in the North American region. The Key Players include Hitachi Metals, MMC, Vacuumschmelze, Zhong Ke San Huan, TDK, Zhenfhai Magnetic, Ningbo Yunsheng, Tianhe Magnets, Shougang Magnetic Material, and Jingci Magnet.

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