Los Angeles, CA, CA -- (SBWIRE) -- 03/16/2019 -- A neodymium magnet (also known as NdFeB, NIB or Neo magnet), the most widely used type of rare-earth magnet, is a permanent magnet made from an alloy of neodymium, iron and boron to form the Nd2Fe14B tetragonal crystalline structure. Developed independently in 1982 by General Motors and Sumitomo Special Metals, neodymium magnets are the strongest type of permanent magnet commercially available. They have replaced other types of magnets in many applications in modern products that require strong permanent magnets, such as motors in cordless tools, hard disk drives and magnetic fasteners.
The growing demand for high magnetic strength and miniaturization of equipment in existing and emerging applications is majorly driving the global market for NdFeB magnets. The government initiatives to stimulate the use of green technologies so as to decrease the greenhouse gas emissions is expected to drive the growth of the global NdFeB magnet market. The high cost, low Curie temperature and propensity to undergo oxidation represent the major constraints to the applications of NdFeB magnets. Asia Pacific is expected to maintain its position over the forecast period. South America's market is predicted 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 on account of increasing demand from end user industries, particularly in countries such as China and Japan. The market in Europe increased slowly.
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The global NdFeB Permanent Magnets (Neodymium-iron-boron) market is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on NdFeB Permanent Magnets (Neodymium-iron-boron) volume and value at global level, regional level and company level. From a global perspective, this report represents overall NdFeB Permanent Magnets (Neodymium-iron-boron) market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The following manufacturers are covered:
Shougang Magnetic Material
Segment by Regions
Segment by Type
Sintered NdFeB Magnet
Bonded NdFeB Magnet
Segment by Application
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