NdFeB Magnets Market size to grow by USD 6.57 billion from 2022 to 2027

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22 Aug, 2023, 11:15 ET

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NEW YORK, Aug. 22, 2023 /PRNewswire/ -- The NdFeB magnets market size is set to grow by USD 6.57 billion from 2022 to 2027. However, the growth momentum will progress at a CAGR of 8.46% during the forecast period, according to Technavio. The NdFeB magnets market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Adams Magnetic Products, Advanced Technology and Materials Co. Ltd., Arnold Magnetic Technologies Corp., Daido Steel Co. Ltd., DEXTER MAGNETIC TECHNOLOGIES, Guangdong Lingyi Zhizhi Manufacturing Co. Ltd., Hitachi Ltd., Magnequench International LLC, MP MATERIALS CORP., Neill Tools Ltd., Neo Performance Materials Inc., Ningbo ketian Magnet Co. Ltd., Ningbo Zhaobao Magnet Co. Ltd., Shin Etsu Chemical Co. Ltd., Siemens AG, Sumitomo Metal Mining Co. Ltd., TDK Corp., The Electrodyne Company Inc., Zhejiang Innuovo Magnetics Co. Ltd., Earth Panda Advance Magnetic Material Co.Ltd., Goudsmit Magnetics Groep BV, and Ningbo Yunsheng Co. Ltd. are some of the major market participants -. To know about the vendor offerings - Request a sample report

NdFeB Magnets Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The NdFeB magnets market report covers the following areas:

The NdFeB magnets market is fragmented, and the degree of fragmentation will accelerate. The increasing focus on renewable energy sources will offer immense growth opportunities. However, the High cost of production of NdFeB magnets will hamper the market growth.

NdFeB Magnets Market 2023-2027: Drivers & Challenges

The increasing focus on renewable energy sources notably drives market growth.

The high cost of production of NdFeB magnets is one of the key challenges hindering market growth. The manufacturing process of NdFeB magnets entails essential raw materials, notably neodymium, an expensive rare earth metal. The extraction and refining of neodymium necessitate labour-intensive procedures and specialized equipment. Additionally, these magnets incorporate other costly components like boron and iron. Consequently, the elevated cost associated with NdFeB magnets directly influences the pricing of electronic devices employing them. Moreover, the high production expenses make it arduous for manufacturers to maintain competitive pricing. Another substantial challenge emerges from supply chain disruptions stemming from the scarcity of these pricey raw materials. Therefore, such factors are poised to impede the growth of the NdFeB magnets market during the forecast period.

The growing demand for EVs is an emerging market trend.

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NdFeB Magnets Market 2023-2027: Segment Analysis

NdFeB Magnets Market 2023-2027: Segmentation Highlights

This neodymium magnets market report extensively covers market segmentation by type (sintered and bonded), end-user (automotive, electronics, power generators, medical industry, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

NdFeB Magnets Market 2023-2027: Key Highlights

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NdFeB Magnets Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.46%

Market growth 2023-2027

USD 6,578.49 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.23

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 52%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Adams Magnetic Products, Advanced Technology and Materials Co. Ltd., Arnold Magnetic Technologies Corp., Daido Steel Co. Ltd., DEXTER MAGNETIC TECHNOLOGIES, Guangdong Lingyi Zhizhi Manufacturing Co. Ltd., Hitachi Ltd., Magnequench International LLC, MP MATERIALS CORP., Neill Tools Ltd., Neo Performance Materials Inc., Ningbo ketian Magnet Co. Ltd., Ningbo Zhaobao Magnet Co. Ltd., Shin Etsu Chemical Co. Ltd., Siemens AG, Sumitomo Metal Mining Co. Ltd., TDK Corp., The Electrodyne Company Inc., Zhejiang Innuovo Magnetics Co. Ltd., Earth Panda Advance Magnetic Material Co.Ltd., Goudsmit Magnetics Groep BV, and Ningbo Yunsheng Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio