Latest News- Neodymium (NdFeB) Magnets Market: Sintered is expected to lead the Type segment during 2025-2029

The Neodymium (NdFeB) Magnets Market is being driven by Increasing focus on renewable energy sources

The Neodymium (NdFeB) Magnets Market is expected to grow at a CAGR of 8.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 7650.5 million. The global Neodymium (NdFeB) magnets market is experiencing significant growth due to the increasing adoption of Electric Vehicles (EVs). NdFeB magnets are essential components in the production of EV motors, providing superior performance and efficiency. Notably, Tesla, a leading EV manufacturer, utilizes NdFeB magnets in its electric motors, contributing to the market's expansion. Additionally, NdFeB magnets are employed in various EV systems, such as battery management and regenerative braking, further fueling market demand. The rising popularity of EVs as eco-friendly and cost-effective transportation alternatives is driving this trend. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Sintered
  • Bonded
• End-user
  • Automotive
  • Electronics
  • Power generators
  • Medical industry
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing focus on renewable energy sources
• Rise in production of consumer electronic devices
• Increasing use of NdFeB magnets in biomedical industry

However, the market also witnesses some limitations, which are as follows:

• High cost of production of NdFeB magnets
• Stringent regulations on NdFeB magnet
• Growing demand for alternative magnet technologies

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Market Scope in Neodymium (NdFeB) Magnets Market Research Report

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Research Analysis Overview

Neodymium (NdFeB) magnets are renowned for their high magnetic field density and magnetic flux density. The magnetic moment, saturation, anisotropy energy, and magnetic domains are intrinsic properties that determine their performance. Magnetostatic energy, demagnetization curve, temperature coefficient, thermal stability, and magnetic forces/torque are essential factors affecting their application. Magnetic energy storage, spectroscopy, susceptibility, and permeability measurements, hysteresis loops, anisotropy, simulation, modeling, design, optimization, characterization, degradation, aging, recycling, disposal, and safety are key aspects of NdFeB magnet research and development.

Market Research Overview

The Neodymium (NdFeB) magnets market is a segment of the rare earth magnets industry, which falls under the broader category of permanent magnets and magnetic materials. These magnets are renowned for their strong magnetic properties, including high magnetic field strength and magnetic flux. Companies specializing in the production and extraction of Neodymium, a key component of these magnets, are integral players in the global diversified metals and mining market. This market encompasses businesses involved in the extraction and processing of a range of metals and minerals, including non-ferrous metals such as Neodymium, as well as salt, borate, phosphate rock, and other diversified mining operations. The market size is determined by the combined revenue generated by these companies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/