The neodymium magnet market is estimated to be valued at US$3.676 billion in 2018. Neodymium magnet is one of the most widely used rare-earth magnets. It is a permanent magnet made from iron, boron, and alloy of neodymium. It is the strongest commercial permanent magnet. The growing usage of neodymium magnets in consumer electronics is increasing the demand for these magnets. Increasing miniaturization of automotive parts such as power tools, sensors, etc. is uplifting the market of neodymium magnets. Rising demand for renewable sources of energy and growth in the market of wind energy is boosting the market of neodymium magnets. Geographically, Asia Pacific region is expected to have a significant market share on account of rapid industrialization in the region. The market of Europe region is also expected to witness a rapid growth owing to the growing demand for neodymium magnets from automobiles in the region.
Fluctuations in the prices of rare-earth metals particularly neodymium metal is a major challenge for the market. However, increasing investment in electric vehicles is opening growth opportunities for the market. The shift of companies from AC induction motor to permanent magnet motor will further boost the market of neodymium magnets in the future.
The Neodymium Magnet Market – Forecasts from 2019 to 2024 is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, end-user industry, and geography.
The neodymium magnet market on segmented based on type, end-user industry, and geography. Based on type the market has been segmented into bonded and sintered. Based end user the market has been segmented into automotive, healthcare, electronics, and others.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the neodymium magnet market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the neodymium magnet market.
By End-User Industry
Middle East and Africa