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Neodymium-Iron-Boron Magnet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 139 Pages
  • July 2023
  • Region: Global
  • IMARC Group
  • ID: 5656342

Quick Summary:

In a world increasingly bowing to the power and efficiency of renewable energy sources and smart technology, one player stands central: the neodymium-iron-boron (NdFeB) magnet. Manifesting the highest magnetic properties and unbeatable cost-effectiveness among its peers, NdFeB magnets have become a crucial fulcrum in the shift towards clean energy and higher operational efficiency in several industry sectors.

Harnessing the power of these extraordinary magnets is not restricted to wind turbine generators or the burgeoning robotics field. Applications, such as muscle toning for astronauts, orthodontic treatments, and even in sound quality improvement in audio devices, have provided NdFeB magnets a firm footprint across industries. Additionally, their significance in the production of electric vehicles, as well as a myriad of domestic appliances, signals a robust and upward trending demand. The comprehensive global neodymium-iron-boron magnet market report offers significant insights and critical analysis of this vital market that is set to influence various key sectors in the near future.

The global neodymium-iron-boron magnet market size reached US$ 14.6 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 22.4 Billion by 2028, exhibiting a growth rate (CAGR) of 7.53% during 2023-2028.

Neodymium-iron-boron (NdFeB) magnets are rare earth magnets manufactured from neodymium, iron, and boron. They are permanent magnets with the highest magnetic properties compared to samarium cobalt (SmCo), alnico, and ferrite magnets. They are highly cost-effective while offering high resistance to demagnetization. They are used in metal separators to filter iron powder from oil reserves effectively. In addition, NdFeB magnets assist in manufacturing jewelry clips, identification badges, and baby strollers that are attached to carriers via magnets. They are also integrated in magnetic resonance imaging devices to diagnose and treat chronic pain syndrome, arthritis, wound healing, insomnia, and headache by generating a static magnetic field.

Neodymium-Iron-Boron Magnet Market Trends:

At present, there is a rise in the demand for renewable energy sources, such as wind and solar, to reduce the dependency on fossil fuels. This, along with the growing utilization of NdFeB magnets in wind turbine generators to increase their efficiency, represents one of the key factors driving the market. Besides this, the increasing employment of NdFeB magnets in robotics to power wheels, sensors, and motion is contributing to the growth of the market. In addition, there is an increase in the demand for NdFeB magnets to maintain the muscular tonus of astronauts during space flights across the globe. This, coupled with the rising application of these magnets as a motion-generating device in orthodontic treatments, molar distillation, and palatal expansion, is propelling the growth of the market. Moreover, the growing demand for NdFeB magnets in manufacturing speakers to create an opposing magnetic field that creates vibrations is offering a positive market outlook. Apart from this, the escalating demand for permanent magnets in electrical appliances, such as air conditioners (ACs), washing machines, dryers, cooling fan motors in computers, fans, and microwaves, is bolstering the growth of the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global neodymium-iron-boron magnet market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.

Breakup by Application:

  • Automobile
  • Electronics
  • Power Generators
  • Medical Industry
  • Wind Power
  • Others
NdFeB magnets find extensive application in automobiles across the globe, which can be attributed to the growing environmental consciousness among individuals and consequently rising demand for electric vehicles (EVs).

Regional Insights:

  • China
  • Japan
  • Europe
  • Others
On the basis of region, the market has been segregated into China, Japan, Europe, and others.

Competitive Landscape:

The report has also examined the competitive landscape of global neodymium-iron-boron magnet market.

Key Questions Answered in This Report:

  • How has the global neodymium iron boron (NdFeB) magnet market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global neodymium iron boron (NdFeB) magnet industry?
  • What has been the impact of COVID-19 on the global neodymium iron boron (NdFeB) magnet industry?
  • Which are the key end-use industries for neodymium iron boron (NdFeB) magnet?
  • What are the various stages in the value chain of the global neodymium iron boron (NdFeB) magnet industry?
  • What are the key driving factors and challenges in the global neodymium iron boron (NdFeB) magnet industry?
  • What is the structure of the global neodymium iron boron (NdFeB) magnet industry and who are the key players?
  • What is the degree of competition in the global neodymium iron boron (NdFeB) magnet industry?
  • What are the profit margins in the global neodymium iron boron (NdFeB) magnet industry?
  • What are the key requirements for setting up a neodymium iron boron (NdFeB) magnet manufacturing plant?
  • How is a neodymium iron boron (NdFeB) magnet manufactured?
  • What are the various unit operations involved in a neodymium iron boron (NdFeB) magnet plant?
  • What is the total size of land required for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the machinery requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the raw material requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the packaging requirements for a neodymium iron boron (NdFeB) magnet?
  • What are the transportation requirements for a neodymium iron boron (NdFeB) magnet?
  • What are the utility requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the manpower requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the infrastructure costs for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the capital costs for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the operating costs for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What will be the income and expenditures for a neodymium iron boron (NdFeB) magnet plant?
  • What is the time required to break-even?
Frequently Asked Questions about the Global Neodymium-Iron-Boron Magnet Market

What is the estimated value of the Global Neodymium-Iron-Boron Magnet Market?

The Global Neodymium-Iron-Boron Magnet Market was estimated to be valued at $14.6 Billion in 2022.

What is the growth rate of the Global Neodymium-Iron-Boron Magnet Market?

The growth rate of the Global Neodymium-Iron-Boron Magnet Market is 7.4%, with an estimated value of $22.4 Billion by 2028.

What is the forecasted size of the Global Neodymium-Iron-Boron Magnet Market?

The Global Neodymium-Iron-Boron Magnet Market is estimated to be worth $22.4 Billion by 2028.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Rare Earth Magnet Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Market Breakup by Magnet Type
5.4 Market Forecast
6 Global Neodymium-Iron-Boron (NdFeB) Magnet Industry
6.1 Market Overview
6.2 Market Performance
6.2.1 Volume Trends
6.2.2 Value Trends
6.3 Impact of COVID-19
6.4 Price Analysis
6.4.1 Key Price Indicators
6.4.2 Price Structure
6.4.3 Price Trends
6.5 Market Breakup by Region
6.6 Market Breakup by Application
6.7 Market Forecast
6.8 SWOT Analysis
6.8.1 Overview
6.8.2 Strengths
6.8.3 Weaknesses
6.8.4 Opportunities
6.8.5 Threats
6.9 Value Chain Analysis
6.9.1 Rare Earth Mining and Milling Companies
6.9.2 Rare Earth Oxide Manufacturers
6.9.3 Rare Earth Metal Manufacturers
6.9.4 Rare Earth Alloy Manufacturers
6.9.5 Rare Earth Magnet Manufacturers
6.9.6 Product Distribution
6.9.7 Scrap Magnets Removing and Separating Companies
6.9.8 Recycling Companies
6.10 Porter’s Five Forces Analysis
6.10.1 Overview
6.10.2 Bargaining Power of Buyers
6.10.3 Bargaining Power of Suppliers
6.10.4 Degree of Competition
6.10.5 Threat of New Entrants
6.10.6 Threat of Substitutes
6.11 Key Success and Risk Factors
7 Performance of Key Regions
7.1 China
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Japan
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Europe
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Automobile
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Electronics
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Power Generators
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Medical Industry
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Wind Power
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Competitive Landscape
9.1 Market Structure
9.2 Key Players
10 Neodymium-Iron-Boron Magnet (NdFeB) Manufacturing Process
10.1 Product Overview
10.2 Detailed Process Flow
10.3 Various Types of Unit Operations Involved
10.4 Mass Balance and Raw Material Requirements
11 Project Details, Requirements and Costs Involved
11.1 Land Requirements and Expenditures
11.2 Construction Requirements and Expenditures
11.3 Plant Layout
11.4 Plant Machinery
11.5 Machinery Pictures
11.6 Raw Material Requirements and Expenditures
11.7 Raw Material and Final Product Pictures
11.8 Packaging Requirements and Expenditures
11.9 Transportation Requirements and Expenditures
11.10 Utility Requirements and Expenditures
11.11 Manpower Requirements and Expenditures
11.12 Other Capital Investments
12 Loans and Financial Assistance
13 Project Economics
13.1 Capital Cost of the Project
13.2 Techno-Economic Parameters
13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
13.4 Taxation and Depreciation
13.5 Income Projections
13.6 Expenditure Projections
13.7 Financial Analysis
13.8 Profit Analysis
List of Figures
Figure 1: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Major Drivers and Challenges
Figure 2: Global: Rare Earth Magnets Market: Volume Trends (in ‘000 Metric Tons), 2017-2022
Figure 3: Global: Rare Earth Magnets Market: Value Trends (in Million US$), 2017-2022
Figure 4: Global: Rare Earth Magnets Market: Breakup by Magnet Type (in %), 2022
Figure 5: Global: Rare Earth Magnets Market Forecast: Volume Trends (in ‘000 Metric Tons), 2023-2028
Figure 6: Global: Rare Earth Magnets Market Forecast: Value Trends (in Million US$), 2023-2028
Figure 7: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Volume Trends (in Metric Tons), 2017-2022
Figure 8: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Value Trends (in Billion US$), 2017-2022
Figure 9: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Average Prices (in US$/Ton), 2017-2022
Figure 10: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Breakup by Region (in %), 2022
Figure 11: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Life cycle Analysis by Region
Figure 12: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Breakup by Application (in %), 2022
Figure 13: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Volume Trends (in Metric Tons), 2023-2028
Figure 14: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Value Trends (in Billion US$), 2023-2028
Figure 15: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Average Prices (in US$/Ton), 2023-2028
Figure 16: Neodymium Iron Boron (NdFeB) Magnet Market: Price Structure
Figure 17: Global: Neodymium Iron Boron (NdFeB) Magnet Industry: SWOT Analysis
Figure 18: Global: Neodymium Iron Boron (NdFeB) Magnet Industry: Value Chain Analysis
Figure 19: Global: Neodymium Iron Boron (NdFeB) Magnet Industry: Porter’s Five Forces Analysis
Figure 20: China: Neodymium Iron Boron (NdFeB) Magnet Market: Sales Volume (in Metric Tons), 2017-2022
Figure 21: China: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 22: Japan: Neodymium Iron Boron (NdFeB) Magnet Market: Sales Volume (in Metric Tons), 2017-2022
Figure 23: Japan: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 24: Europe: Neodymium Iron Boron (NdFeB) Magnet Market: Sales Volume (in Metric Tons), 2017-2022
Figure 25: Europe: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 26: Others: Neodymium Iron Boron (NdFeB) Magnet Market: Sales Volume (in Metric Tons), 2017-2022
Figure 27: Others: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 28: Global: Neodymium Iron Boron (NdFeB) Magnet (Automobile) Market: Sales Volume (in Metric Tons), 2017-2022
Figure 29: Global: Neodymium Iron Boron (NdFeB) Magnet (Automobile) Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 30: Global: Neodymium Iron Boron (NdFeB) Magnet (Electronics) Market: Sales Volume (in Metric Tons), 2017-2022
Figure 31: Global: Neodymium Iron Boron (NdFeB) Magnet (Electronics) Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 32: Global: Neodymium Iron Boron (NdFeB) Magnet (Power Generators) Market: Sales Volume (in Metric Tons), 2017-2022
Figure 33: Global: Neodymium Iron Boron (NdFeB) Magnet (Power Generators) Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 34: Global: Neodymium Iron Boron (NdFeB) Magnet (Medical Industry) Market: Sales Volume (in Metric Tons), 2017-2022
Figure 35: Global: Neodymium Iron Boron (NdFeB) Magnet (Medical Industry) Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 36: Global: Neodymium Iron Boron (NdFeB) Magnet (Wind Power) Market: Sales Volume (in Metric Tons), 2017-2022
Figure 37: Global: Neodymium Iron Boron (NdFeB) Magnet (Wind Power) Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 38: Global: Neodymium Iron Boron (NdFeB) Magnet (Other Applications) Market: Sales Volume (in Metric Tons), 2017-2022
Figure 39: Global: Neodymium Iron Boron (NdFeB) Magnet (Other Applications) Market Forecast: Sales Volume (in Metric Tons), 2023-2028
Figure 40: Neodymium Iron Boron (NdFeB) Magnet Manufacturing: Detailed Process Flow
Figure 41: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Process: Conversion Rate of Products
Figure 42: Neodymium Iron Boron (NdFeB) Magnet Manufacturing: Proposed Plant Layout
Figure 43: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 44: Neodymium Iron Boron (NdFeB) Magnet Industry: Profit Margins at Various Levels of the Supply Chain
Figure 45: Neodymium Iron Boron (NdFeB) Magnet Production: Manufacturing Cost Breakup (in %)
List of Tables
Table 1: Global: Rare Earth Magnets Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Rare Earth Magnets Market: Volume Breakup by Magnet Type
Table 3: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Key Industry Highlights, 2022 and 2028
Table 4: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Breakup by Region (in Metric Tons), 2023-2028
Table 5: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Breakup by Application (in Metric Tons), 2023-2028
Table 6: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Competitive Structure
Table 7: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Key Players
Table 8: Key Magnet Manufacturers in China
Table 9: Key Magnet Manufacturers in the USA
Table 10: Key Magnet Manufacturers in Japan
Table 11: Key Magnet Manufacturers in Europe
Table 12: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 13: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 14: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Machinery (in US$)
Table 15: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Raw Material Requirements
Table 16: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 17: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 18: Details of Financial Assistance Offered by Financial Institutions

Methodology

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