Global Neodymium Magnet Market Size By Product (Sintered, Bonded), By End User (Consumer Electronics, Automotive), By Type (Neodymium-Iron-Boron (NdFeB) Magnets, Samarium-Cobalt (SmCo) Magnets), By Geographic Scope And Forecast

Neodymium Magnet Market Size And Forecast

Neodymium Magnet Market size was valued at USD 3.09 Billion in 2024 and is projected to reach USD 4.34 Billion by 2031, growing at a CAGR of 4.78% from 2024 to 2031.

Hey, so the thing is, we're seeing a big jump in how many neodymium magnets people need, mostly because they're popping up in more and more of our gadgets. Plus, all these car parts—power tools, sensors, the works—are shrinking, which fuels the demand. And don't forget renewable energy – the more we want green power, the more we need these magnets! If you want the full scoop, check out the Global Neodymium Magnet Market report. It's got the lowdown on all the important stuffkey segments, what's trending, what's driving (and holding back) the market, who the big players are, and generally, what's making the market tick. It's a pretty comprehensive look, to be honest.

Global Neodymium Magnet Market Definition

Neodymium magnets, those super-strong magnets made from neodymium, iron, and boron, are pretty impressive. They're part of the Rare-Earth magnet gang and boast the most powerful magnetic properties you'll find in the Neodymium Magnet Market. What makes them so popular? Well, their magnetic strength is amazing, and they don't break the bank. That’s why you see them everywhere – in everyday gadgets, businesses, factories, and all sorts of technical stuff. They're called "strong" for a reasonthey hold onto their magnetism like nobody's business, thanks to their high saturation magnetization and resistance to demagnetization. Sure, strong neodymium magnets cost more than those ceramic fridge magnets, but they're worth it. The best part? You can use a tiny NdFeB magnet to do the same job as a bulky, cheaper one.

Because the device’s total size can be reduced, this could result in a lower overall cost. If their physical attributes stay unchanged and they are not subjected to demagnetizing factors, neodymium magnets will likely lose less than 1% of their flux density during a 10-year period (such as opposing magnetic fields, high temperatures, radiation, etc.). Neodymium magnets are less prone to cracking and chipping and are less expensive than rare-earth magnets such as samarium cobalt (“SmCo”). They are, however, more temperature sensitive.

Because its magnetic characteristics are relatively stable at elevated temperatures, SmCo may be a superior choice for applications where this is crucial. anti-lock braking systems, Neodymium magnets are commonly found in audio equipment (microphones, headphones, and loudspeakers), hard disc drives, pumps, bearings, MRI scanners, electric vehicles, wind generators, high-performance motors, magnetic therapy, actuators, levitation devices, door latches, arts & crafts, home improvement (DIY-fixing furniture, hanging pictures, and so on), and POP displays.

Global Neodymium Magnet Market Overview

Demand for cars is really taking off in huge economies like China, India, and Japan, and that's pushing the Neodymium Magnet Market ahead, thanks to the region's thriving car industry. Countries like India, China, Japan, and Indonesia are all playing a big part in this growth. Did you know India was actually the fifth-largest car market in the world? All this growth in the car industry means we need more and more permanent magnets. They're becoming super important in hybrid electric vehicles, which are becoming increasingly common. You'll find around 2 to 3 kilograms of these rare earth magnets in high-performance hybrid electric cars. These hybrids use both an electric motor and a regular engine, and they're expected to get even more popular in places where pollution is a problem.

In several places, governments are introducing more environmentally friendly electric motor systems. Furthermore, rising gasoline prices will soon drive demand for electric vehicles. During the foreseeable period, this will result in a tremendous need for permanent magnets. Fluctuating raw material costs are one of the main factors restricting the Neodymium Magnet Market growth. It has far-reaching repercussions for manufacturing firms. Unexpected barriers are upsetting supply chains and making it harder for manufacturers to produce excellent products at low prices and earn profits, from rising energy costs to unexpected variations in raw material prices.

Prices of rare earth metals and other raw materials needed in the production of permanent magnets have fluctuated. This has an impact on the quantity and quality of permanent magnets manufactured. The higher expenses are passed on to consumers by manufacturers. This can lead to a reduction in permanent magnet use, as well as tarnishing their image as cost-effective materials. Due to rising supply restrictions from China, the prices of rare earth permanent magnet materials such as dysprosium and neodymium are particularly volatile. For downsizing or other purposes, all permanent magnets are employed in small amounts.

man-hours, The cost of R&D in terms of materials, and technology is extremely costly. Permanent magnets may only be made with a limited number of elements, and the resulting permanent magnets must meet certain criteria under various conditions in order to be evaluated for use. Once identified for use, the product must provide maximum efficiency with not only long-term but also evident short-term benefits. Many market participants lack the advanced technology, resources, and human experience required to produce environmentally friendly, efficient, and effective permanent magnets at a competitive price.

Global Neodymium Magnet Market Segmentation Analysis

The Global Neodymium Magnet Market is segmented on the basis of Product, End User, Type, And Geography.

Neodymium Magnet Market, By Product

• Sintered
• Bonded

Based on Product, The market is segmented into Sintered and Bonded. Sintered magnets are made up of iron, boron, and neodymium alloy. To make it corrosion-resistant few elements like copper, cobalt, gadolinium, and dysprosium are used. Whereas, in the case of the bonding method, the magnetic and epoxy binding material is used in a 973 ratio. Neodymium magnets are prepared differently for manufacturers and graded as required.

Depending upon approximately 4 times better performance shown by sintered magnets in comparison with bonded ones, sintered magnets enjoy a larger market share in this segment and are expected to carry forward with their position in the future. Rapid use in automobiles, electronics, power generators, the medical industry, and others will drive the market for neodymium magnets.

Neodymium Magnet Market, By End User

• Consumer Electronics
• Automotive
• General Industrial
• Medical Devices
• Energy
• Others

Based on End User, The market is bifurcated into Consumer Electronics, Automotive, General Industrial, Medical Devices, Energy, and Others. The largest application of the hard magnet industry is in consumer electronics. The rising demand for consumer electronics devices is linked to the increased use of magnets in this application. The demand for numerous electronic devices such as cameras, air conditioning, loudspeakers, compressors, and mobile phones is being driven by increased consumer disposable income and technical improvements.

Permanent magnets will be used more widely as consumer electronics demand grows. During the projection period, the automotive industry is expected to increase at a healthy rate. Hard magnets are used in moving battery components, car parts, and engine components in the automotive industry. The expanding demand for hard magnets will be fueled by the growing demand for hybrid electric vehicles and electric vehicles, as well as the growing automotive sector.

Neodymium Magnet Market, By Type

• Neodymium-Iron-Boron (NdFeB) Magnets
• Samarium-Cobalt (SmCo) Magnets

Based on Type, The market is bifurcated into Neodymium-Iron-Boron (NdFeB) Magnets and Samarium-Cobalt (SmCo) Magnets. Because they are widely used in the sector of energy, NdFeB magnets currently account for the bulk of the total market share. This is due to their small size, high magnetic pull, and capacity to conserve energy. As a result, these magnets can be found in energy-efficient elevators, wind turbines, electric bicycles, hybrid automobiles, computer hard disc drives, medical equipment, consumer electronics, and other applications.

Neodymium Magnet Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Now, when we look at the Global Neodymium Magnet Market, we can break it down by geographyNorth America, Europe, Asia Pacific, and, well, the rest of the world. Asia-Pacific? It's really leading the charge, mostly because of China's impressive strides in electronics. The country has a real advantage, with readily available raw materials, a boom in electric vehicles, tons of electronics production, and lots of medical equipment manufacturers all contributing to market growth. Plus, government guidelines in the APAC region and other developing markets are anticipated to drive the Neodymium Magnet Market even higher, thanks to a massive demand from the manufacturing sector. Meanwhile, North America and Europe are also seeing consistent growth, and we expect them to keep up that pace.

Key Players

The “Global Neodymium Magnet Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Arnold Magnetic Technologies, Eclipse Magnetics, Goudsmith Magnetics, Chengdu Galaxy Magnets, Ningbo Yunsheng Co Ltd, Yantai Shougang Magnetic Materials inc, Tengam Engineering Inc, Bunting Magnetic Products Co Inc, Electron Energy Corporation, Shin Etsu Chemical Co Ltd, TDK Corporation, Hitachi Metals. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In April 2019, At Bauma, Bunting Magnetics debuted the ElectroMax Overband Magnet. This new product will assist the company in meeting client demands for electro overband magnets that are lighter, more compact, and smaller.
• In February 2019, At its MGE Innovation Center complex in Wisconsin, Arnold Magnetic Technologies established a research and development centre. The company will be able to offer rapid prototyping of thin metals, permanent magnets, electromagnetics, and diverse engineering assemblies thanks to its cutting-edge technology centre.

Report Scope

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

We take a good, hard look at the market using both qualitative and quantitative analysis, breaking it down into segments based on money stuff and other things, too. Then, we give you the market value (in USD Billion) for each of those segments and sub-segments. We'll even tell you which region and segment we think will grow the fastest and be the biggest. Think of it as a geography lesson mixed with market savvy, highlighting where the product/service is being used and what's influencing things in each area. Plus, we've got the competitive landscape covered – who's on top, who's launching new stuff, who's teaming up, and who's buying who, all from the last five years. We dive deep into company profiles, giving you the lowdown on the big players with overviews, insights, how their products stack up, and what their strengths and weaknesses are. We'll give you our take on what the market looks like now and where it's headed, considering all the latest happenings – think growth opportunities and drivers, but also the challenges and restraints in both new and established markets. We also dig into the market from every angle using Porter’s five forces analysis, giving you a complete picture. You'll also get a sense of the market's Value Chain, the market's beat through market dynamics, and the upcoming growth opportunities, too. And to top it all off, you get 6-month post-sales analyst support – we're here for you!

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.