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Report Overview
The global neodymium-iron-boron magnet market size reached around USD 15.53 Billion in 2024. The market is projected to grow at a CAGR of 7.50% between 2025 and 2034 to reach nearly USD 32.01 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
Compound Annual Growth Rate
Value in USD Billion
7.5%
2025-2034
Neodymium-Iron-Boron Magnet Market Outlook
*this image is indicative*
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The global neodymium-iron-boron magnet industry is driven by the flourishing energy harvesting sector. China is the leading country in the neodymium-iron-boron magnet market across the globe. This can be attributed to the high demand for these magnets from the key end-user industries in the region. China also enjoys a monopoly over the raw materials that are used to produce these magnets, which enhance the production of these magnets in the country.
Japan represents the second-largest market for neodymium-iron-boron (NdFeB) magnet across the globe, followed by Europe and the United States of America. The industry for the NdFeB magnet is further driven by the factors such as limited substitutes for neodymium magnets, rapidly expanding industrial applications, and the government initiatives to spur the use of green technologies in order to reduce the greenhouse gas emissions.
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Market Segmentation
Neodymium-Iron-Boron (NdFeB) magnets are the strongest rare earth magnets, which are also affordable and cost-efficient. Even though NdFeB magnets have a lower curie temperature and are affected by oxidation, they provide the highest magnetic field strength and magnetic stability. Owing to this, they find uses in power tools, electric motors, and other products requiring strong, compact, and permanent magnets.
The neodymium-iron-boron magnet market is divided on the basis of applications into:
- Automobile
- Electronics
- Power Generators
- Medical Industry
- Wind Power
- Others
The report also covers the regional markets of neodymium-iron-boron magnet like:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Market Analysis
The global neodymium-iron-boron magnet market is driven by the rising high-level magnetic strength and miniaturisation of equipment in the existing and emerging applications. The market is further aided by the several government initiatives that are aimed to stimulate the use of green technologies so as to decrease the greenhouse gas emissions. Some of the other factors enhancing the industry growth of NdFeB magnet across the globe include their increasing and extensive applications in sectors such as defence, automotive, electronics, industrial, medical, and others, flourishing end-use industries, and limited substitutes. However, low Curie temperature, high cost, and propensity to undergo oxidation present some of the major constraints to the applications of NdFeB magnets.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global neodymium-iron-boron magnet market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Integrated Magnetics
- Arnold Magnetic Technologies
- Ningbo Relay Magnetics Co., Ltd
- Dura Magnetics, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the market attained a value of nearly USD 15.53 Billion.
The market is assessed to grow at a CAGR of 7.50% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach about USD 32.01 Billion by 2034.
The robust growth of the energy harvesting sector, the expanding industrial applications of neodymium-iron-boron magnets, and the introduction of favourable government initiatives aimed at promoting green energy are driving the market growth.
The key trends guiding the market include the surging trend of miniaturisation of equipment, the growing use of NdFeB magnets in the electronics, defence, medical, and industrial sectors, and the increasing attempts to reduce greenhouse gas emissions.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
Automobile, electronics, power generators, medical industry, and wind power, among others, are the significant applications of neodymium-iron-boron magnet.
The leading players in the market are Integrated Magnetics, Arnold Magnetic Technologies, Ningbo Relay Magnetics Co., Ltd, and Dura Magnetics, Inc., among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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