NdFeB Magnets

Global NdFeB Magnets Market to Reach US$3.2 Billion by 2030

The global market for NdFeB Magnets estimated at US$2.0 Billion in the year 2024, is expected to reach US$3.2 Billion by 2030, growing at a CAGR of 7.9% over the analysis period 2024-2030. Consumer Electronics, one of the segments analyzed in the report, is expected to record a 9.7% CAGR and reach US$1.3 Billion by the end of the analysis period. Growth in the Automotive segment is estimated at 7.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$524.5 Million While China is Forecast to Grow at 11.9% CAGR

The NdFeB Magnets market in the U.S. is estimated at US$524.5 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$823.4 Million by the year 2030 trailing a CAGR of 11.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.0% and 7.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.

Global NdFeB Magnets Market - Key Trends & Drivers Summarized

What Are NdFeB Magnets, and Why Are They Critical in Modern Technology?
Neodymium Iron Boron (NdFeB) magnets, commonly referred to as neodymium magnets, are the strongest type of rare-earth magnets commercially available. These magnets are composed of neodymium, iron, and boron, which gives them superior magnetic strength compared to other magnet types. NdFeB magnets are crucial for applications that require high magnetic performance in compact spaces, such as electric motors, wind turbines, medical devices, and consumer electronics like smartphones and hard drives. Their lightweight, high energy density makes them indispensable in industries seeking to develop smaller, more powerful, and more efficient products.

How Are NdFeB Magnets Transforming Industrial and Technological Applications?
NdFeB magnets are playing a transformative role in various industries, particularly in the renewable energy and automotive sectors. In electric vehicles (EVs), these magnets are essential for the production of high-performance motors, enabling better energy efficiency and range. The wind energy sector also relies on NdFeB magnets to improve the efficiency of turbines, especially in direct-drive wind turbines that require high-strength magnets for optimal performance. Additionally, consumer electronics, such as speakers, headphones, and hard disk drives, depend on NdFeB magnets for their miniaturized components. In medical technology, these magnets are used in MRI machines and other precision devices. As demand for clean energy and high-tech devices rises, NdFeB magnets are at the core of these technological advancements.

What Emerging Trends Are Shaping the NdFeB Magnets Market?
Several trends are currently shaping the NdFeB magnets market. One major trend is the increasing demand for electric vehicles, which require powerful magnets for their motors. As governments push for green energy adoption, the wind energy industry is also experiencing growth, further driving demand for NdFeB magnets in wind turbines. Another trend is the focus on reducing reliance on rare-earth elements, especially neodymium, due to supply chain concerns and environmental impact. Manufacturers are exploring recycling of NdFeB magnets and researching alternative materials to reduce dependency on rare earths. Moreover, innovations in magnet production processes, such as additive manufacturing (3D printing) of magnets, are improving cost-effectiveness and performance. There is also increasing competition to secure sustainable rare-earth sources to stabilize the supply chain.

What Is Driving the Growth of the NdFeB Magnets Market?
The growth in the NdFeB magnets market is driven by several factors, including the rising demand for electric vehicles, renewable energy projects, and advancements in electronics and medical technology. The push for decarbonization and the transition to electric vehicles are significant drivers, as NdFeB magnets are essential for the high-performance motors used in EVs. Similarly, the global expansion of wind energy, particularly in regions like Europe and Asia-Pacific, is creating substantial demand for magnets used in wind turbines. Furthermore, the increasing use of high-tech consumer electronics and medical devices, which rely on NdFeB magnets for precision and efficiency, continues to fuel market growth. Advances in recycling technology and sustainable rare-earth sourcing are also contributing to the market`s expansion, as industries seek to reduce environmental impacts while maintaining high-performance standards.

SCOPE OF STUDY:

The report analyzes the NdFeB Magnets market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
End-Use (Consumer Electronics, Automotive, Oil & Gas, Aerospace & Defense, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 43 Featured) -

• Arnold Magnetic Technologies
• Daido Steel Co., Ltd.
• Electron Energy Corporation
• Hitachi Metals Ltd.
• Lynas Corporation Ltd.
• Shin-Etsu Chemical Co., Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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