Neodymium-Iron-Boron (NdFeB) Magnets Market accounted for US$ 12.5 billion in 2020 and is estimated to be US$ 25.7 billion by 2030 and is anticipated to register a CAGR of 7.5%. Neodymium-Iron-Boron (NdFeB) has high tensile strength and most affordable types of rare earth magnets. These magnet exhibit numerous characteristics due to which these magnet are using in various fields. NdFeB magnets have lower curie temperature and are more liable for oxidation, they exhibit highest magnetic field strength and magnetic stability due to which they are used in electric motors and other products.
The report " Global Neodymium-Iron-Boron (NdFeB) Magnets market, By Product Type (Bonded NdFeB Magnet, Sintered NdFeB Magnet and Others), By Application (Consumer Electronics, Automotive, healthcare, Energy-Mining and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”
Key Highlights:
· UK carmaker Bentley motors is launching three year study aimed at developing a sustainable source of recycled rare earth magnets for electric and hybrid vechicles published in article on 18th feb,2021.
Analyst View:
Increasing applications of neodymium-iron-boron in various fields like consumer electronics, automotive, healthcare and others drives the market. Neodymium-iron-boron magnet market is growing due to high-level magnetic strength and miniaturization of equipment in emerging applications.
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Key Market Insights from the report:
The Global Neodymium-Iron-Boron (NdFeB) Magnets Market accounted for US$ 12.5 billion in 2020 and is estimated to be US$ 25.7 billion by 2030 and is anticipated to register a CAGR of 7.5%. The Global Neodymium-Iron-Boron (NdFeB) Magnets Market is segmented based on the product type, application, and region.
· By Product Type, the Global Neodymium-Iron-Boron (NdFeB) Magnets Market is segmented into Bonded NdFeB Magnet, Sintered NdFeB Magnet and Others.
· By Application, the Global Neodymium-Iron-Boron (NdFeB) Magnets Market is segmented into Consumer Electronics, Automotive, healthcare, Energy-Mining and Others.
· By region, the Global Neodymium-Iron-Boron (NdFeB) Magnets Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:
The key players operating in the Global Neodymium-Iron-Boron (NdFeB) Magnets Market include Hitachi Metals, Ningbo Yunsheng, TDK, Shougang Magnetic Material, MMC, Jingci Magne, Zhenfhai Magnetic, Vacuumschmelze, Tianhe Magnets.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
