Dublin, May 21, 2024 (GLOBE NEWSWIRE) -- The "Global Neodymium-Iron-Boron Magnet Market Report by Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global neodymium-iron-boron magnet market size reached US$ 15.6 Billion in 2023. Looking forward, the market is projected to reach US$ 28.1 Billion by 2032, exhibiting a growth rate (CAGR) of 6.76% during 2023-2032.
Neodymium-Iron-Boron Magnet Market Trends
At present, there is a rise in the demand for renewable energy sources, such as wind and solar, to reduce the dependency on fossil fuels. This, along with the growing utilization of NdFeB magnets in wind turbine generators to increase their efficiency, represents one of the key factors driving the market. Besides this, the increasing employment of NdFeB magnets in robotics to power wheels, sensors, and motion is contributing to the growth of the market. In addition, there is an increase in the demand for NdFeB magnets to maintain the muscular tonus of astronauts during space flights across the globe.
This, coupled with the rising application of these magnets as a motion-generating device in orthodontic treatments, molar distillation, and palatal expansion, is propelling the growth of the market. Moreover, the growing demand for NdFeB magnets in manufacturing speakers to create an opposing magnetic field that creates vibrations is offering a positive market outlook. Apart from this, the escalating demand for permanent magnets in electrical appliances, such as air conditioners (ACs), washing machines, dryers, cooling fan motors in computers, fans, and microwaves, is bolstering the growth of the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global neodymium-iron-boron magnet market report, along with forecasts at the global and regional level from 2024-2032.
- NdFeB magnets find extensive application in automobiles across the globe, which can be attributed to the growing environmental consciousness among individuals and consequently rising demand for electric vehicles (EVs).
- On the basis of region, the market has been segregated into China, Japan, Europe, and others.
Competitive Landscape
The report has also examined the competitive landscape of global neodymium-iron-boron magnet market.
Key Questions Answered in This Report
- How has the global neodymium iron boron (NdFeB) magnet market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global neodymium iron boron (NdFeB) magnet industry?
- What has been the impact of COVID-19 on the global neodymium iron boron (NdFeB) magnet industry?
- Which are the key end-use industries for neodymium iron boron (NdFeB) magnet?
- What are the various stages in the value chain of the global neodymium iron boron (NdFeB) magnet industry?
- What are the key driving factors and challenges in the global neodymium iron boron (NdFeB) magnet industry?
- What is the structure of the global neodymium iron boron (NdFeB) magnet industry and who are the key players?
- What is the degree of competition in the global neodymium iron boron (NdFeB) magnet industry?
- What are the profit margins in the global neodymium iron boron (NdFeB) magnet industry?
- What are the key requirements for setting up a neodymium iron boron (NdFeB) magnet manufacturing plant?
- How is a neodymium iron boron (NdFeB) magnet manufactured?
- What are the various unit operations involved in a neodymium iron boron (NdFeB) magnet plant?
- What is the total size of land required for setting up a neodymium iron boron (NdFeB) magnet plant?
- What are the machinery requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
- What are the raw material requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
- What are the packaging requirements for a neodymium iron boron (NdFeB) magnet?
- What are the transportation requirements for a neodymium iron boron (NdFeB) magnet?
- What are the utility requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
- What are the manpower requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
- What are the infrastructure costs for setting up a neodymium iron boron (NdFeB) magnet plant?
- What are the capital costs for setting up a neodymium iron boron (NdFeB) magnet plant?
- What are the operating costs for setting up a neodymium iron boron (NdFeB) magnet plant?
- What will be the income and expenditures for a neodymium iron boron (NdFeB) magnet plant?
- What is the time required to break-even?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $15.6 Billion |
| Forecasted Market Value (USD) by 2032 | $28.1 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Rare Earth Magnet Industry
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Magnet Type
5.4 Market Forecast
6 Global Neodymium-Iron-Boron (NdFeB) Magnet Industry
6.1 Market Overview
6.2 Market Performance
6.3 Impact of COVID-19
6.4 Price Analysis
6.4.1 Key Price Indicators
6.4.2 Price Structure
6.4.3 Price Trends
6.5 Market Breakup by Region
6.6 Market Breakup by Application
6.7 Market Forecast
6.8 SWOT Analysis
6.9 Value Chain Analysis
6.10 Porter's Five Forces Analysis
6.11 Key Success and Risk Factors
7 Performance of Key Regions
8 Market Breakup by Application
8.1 Automobile
8.2 Electronics
8.3 Power Generators
8.4 Medical Industry
8.5 Wind Power
8.6 Others
9 Competitive Landscape
9.1 Market Structure
9.2 Key Players
10 Neodymium-Iron-Boron Magnet (NdFeB) Manufacturing Process
10.1 Product Overview
10.2 Detailed Process Flow
10.3 Various Types of Unit Operations Involved
10.4 Mass Balance and Raw Material Requirements
11 Project Details, Requirements and Costs Involved
11.1 Land Requirements and Expenditures
11.2 Construction Requirements and Expenditures
11.3 Plant Layout
11.4 Plant Machinery
11.5 Machinery Pictures
11.6 Raw Material Requirements and Expenditures
11.7 Raw Material and Final Product Pictures
11.8 Packaging Requirements and Expenditures
11.9 Transportation Requirements and Expenditures
11.10 Utility Requirements and Expenditures
11.11 Manpower Requirements and Expenditures
11.12 Other Capital Investments
12 Loans and Financial Assistance
13 Project Economics
13.1 Capital Cost of the Project
13.2 Techno-Economic Parameters
13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
13.4 Taxation and Depreciation
13.5 Income Projections
13.6 Expenditure Projections
13.7 Financial Analysis
13.8 Profit Analysis
For more information about this report visit https://www.researchandmarkets.com/r/j2xfk6
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