The sintered neodymium (NdFeB) magnet market size is estimated to be USD 10,526.6 million in 2020 and is projected to register a CAGR of 10.0% to reach USD 22,620.7 million by 2028. The growth of the market is primarily driven by increasing production of consumer goods and growing automotive and electronics industries, where sintered neodymium (NdFeB) magnets are extensively used in various applications such as smartphones, hard drives, personal electronics, electric motors, generators, alternators, and servo motors.
Sintered NdFeB magnets are widely used in the fields of electronics, electrical equipment, medical devices, toys, packaging, hardware equipment, aerospace, and others. The more popular ones are permanent magnet motors, speakers, magnetic separators, and instruments for magnetic resonance imaging equipment, among others.
Government policies to promote the use of green technology to minimize greenhouse gas emissions are expected to fuel the growth of this magnet in the near future. Furthermore, due to rapid industrialization, population growth, increasing demand for electricity, the use of NdFeB magnet in wind power plants, and significant expansion of the wind energy industry are expected to further propel the growth of this market. However, volatility in rare earth materials prices due to a ban on exports of rare earth elements from China to other regions is expected to hamper growth in sintered neodymium (NdFeB) magnet market.
Sintered neodymium (NdFeB) magnets, also known as the third generation of Rare Earth magnets, are the strongest and most advanced permanent commercialized magnet. Since they're made of Neodymium, one of the most plentiful rare earth elements, and inexpensive iron, NdFeB magnets give the best value in cost and efficiency. These sintered neodymium magnets have maximum magnet power, high demagnetization resistance, high operating temperature up to 240°C, and strong temperature tolerance down to -100 °C.
The Sintered NdFeB magnet is produced by the method of powder metallurgy. First, in a compact magnetic field, the smelted metal must be powdered and squeezed, and then the compact is sintered into inert gas or vacuum for densification. In general, only the magnet blank can be formed after sintering, and then with the help of mechanical processing such as wire cutting, slicing, grinding, etc., it can be transformed into magnets of various shapes.
This report provides a detailed cost structure analysis of sintered neodymium (NdFeB) magnet which includes: material cost, processing cost, labor cost, land cost, purchase of machinery, installation cost, administration and other operational cost, power cost, and other necessary cost.
The global sintered neodymium (NdFeB) magnet market report has been segmented by orientation and application.
By orientation, the global sintered neodymium (NdFeB) magnet market is bifurcated into isotropic and anisotropic. The anisotropic segment is anticipated to account for the largest share of around 55.3% in the global sintered neodymium (NdFeB) magnet in 2020, and is estimated to grow at a CAGR of 9.0% during the forecast period.
Anisotropic Sintered Neodymium is the strongest commercially-available hard magnetic material today. With its favorable properties, the use of anisotropic magnets can be maximized in a preferred direction, which makes it a bigger possibility for accessories in lift, elevators, and hybrid cars. In addition, the demand for data storage in today’s world has been increasing, and the utilization of this product in data storage devices is poised to drive anisotropic sintered neodymium market during the forecast period. However, over the forecast period, the isotropic segment is expected to witness the fastest growth with a CAGR of 11.4%.
By application, the global sintered neodymium (NdFeB) magnet market is segregated into automotive, power transmission & generation, consumer electronics, automated manufacturing & robotics, elevator, and others. The automotive segment is expected to hold the largest share of around 25.2% in the global sintered neodymium (NdFeB) magnet market in 2020, and is projected to grow at a CAGR of 11.7% during the forecast period. Sintered Neodymium (NdFeB) Magnets are extensively used in the automotive industry for various applications such as sensors, electric motors, generators, actuators, electric brakes, starter generator, car navigation hard disk drives, and others. These magnets are also widely used in consumer electronics products such as microphones, acoustic pickups, headphones, and loudspeakers.
By region, the global sintered neodymium (NdFeB) magnet market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific region is anticipated to hold the largest share of around 73.0% in the global sintered neodymium (NdFeB) magnet market in 2020 and is projected to grow at a CAGR of 10.8% during the forecast period. This market is mainly dominated by China, Japan, India, and South Korea.
Steady growth of industrial, residential, and commercial sectors in this region is propelling the demand for the sintered neodymium (NdFeB) magnet. The potential growth of this market can be attributed to the high economic growth, rising disposable income, and subsequent increase in the production of passenger vehicles, electronics, and wind power generators.
FIGURE 1: SINTERED NEODYMIUM (NDFEB) MAGNET MARKET SEGMENTATION
FIGURE 2: SINTERED NEODYMIUM (NDFEB) MAGNET MARKET (USD MILLION), BY END-USE INDUSTRY
What does this Report Provide?
This report provides a detailed understanding of the global sintered neodymium (NdFeB) magnet demand from a qualitative and quantitative perspective with a forecast for the next 10 years. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the global sintered neodymium (NdFeB) magnet market. The major market drivers, challenges, and opportunities for the global sintered neodymium (NdFeB) magnet market have also been covered in the report. This report further includes the market share of the leading companies operating in the sintered neodymium (NdFeB) magnet market, along with their production capacities and the growth strategies adopted by them.
- Power Transmission & Generation
- Consumer Electronics
- Automated Manufacturing & Robotics
North America Sintered neodymium (NdFeB) magnet Market
- North America, by Country
- North America, by Orientation
- North America, by Application
Europe Sintered neodymium (NdFeB) magnet Market
- The Netherlands
- Rest of Europe
- Europe, by Orientation
- Europe, by Application
Asia Pacific Sintered neodymium (NdFeB) magnet Market
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Orientation
- Asia Pacific, by Application
Middle East & Africa Sintered neodymium (NdFeB) magnet Market
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Orientation
- Middle East & Africa, by Application
South America Sintered neodymium (NdFeB) magnet Market
- South America, by Country
- Rest of South America
- South America, by Orientation
- South America, by Application
Major Companies: In this report, the following major companies are studied: Hitachi Metals Group, TDK Corporation, Zhong Ke San Huan Hi-Tech, Dmegc Germany Gmbh, Jpmf, Ningbo Yunsheng, At&M, Shin-Etsu Chemical Co., Ltd., Zhejiang Innuovo Magnetics Co., Ltd., Arnold Magnetic Technologies Corp., Tokyo Ferrite Mfg., Ao Magnet Electronic, Ningbo Xinfeng Magnet Industry Co., Ltd., Yantai Shougang Magnetic Materials Inc., Daido, and others.
Objectives of this Report:
- To estimate the market size for the sintered neodymium (NdFeB) magnet market on a regional and global basis.
- To identify major segments in the sintered neodymium (NdFeB) magnet market and evaluate their market shares and demand.
- To provide a competitive scenario for the sintered neodymium (NdFeB) magnet market with major developments observed by key companies in the historic years.
- To evaluate key factors governing the dynamics of the sintered neodymium (NdFeB) magnet market with their potential gravity during the forecast period.
- To evaluate the leading company wise pricing analysis for mentioned applications
This study is customized to meet your specific requirements:
- By sub-segment
- By client specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product specific competitive analysis
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