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From 2023 to 2030, the worldwide neodymium market is projected to increase from 2022's valuation of $2.09 billion at a CAGR (compound annual growth rate) of 16.0%. It is expected that the growing need for permanent magnets in automobiles would propel the market forward. Electric motors made from neodymium-iron-boron (NdFeB) play an important role in the operation of electric vehicles (EVs) and other devices that make use of wind energy. Market expansion is being fueled by rising demand for wind power and electric vehicles, which in turn is being driven by the increasing interest in renewable energy sources.
The COVID-19 epidemic has added layers of complexity to the chemical industry's value chains. Businesses in the neodymium industry are observing changes in the global economy and politics as a result of the epidemic. Profitability is being impacted by fluctuating consumer demand. Therefore, stakeholders are concentrating on absolutely necessary initiatives in high-profit fields including permanent magnets, phosphors & luminescence, and metalworking. Businesses in the neodymium industry are placing a premium on possibilities to ride the wave of rising demand by investing in sustainability and the circular economy, developing alternative material techniques, and integrating strategic partners throughout chemical value chains. In response to the spread of the coronavirus, they are rapidly adopting digitalization of operations and associated technology. Stakeholders increasingly favour databased services as a means of effectively allocating resources to emerging technologies and business models.
One of the rarest metals, neodymium (Nd) has an atomic number of 60 and a silvery metallic appearance. Sintered and bonded processes, among others, are used to extract the element from the ground. In addition to being resistant to high temperatures, this metal also possesses exceptional magnetic characteristics. Therefore, it is mostly employed in the field of permanent magnetism. Consequently, the market for neodymium ferrous boron (NdFeB) permanent magnets would be bolstered by rising demand from the automotive and electronics sectors. Increases in the use of electric motors and NdFeB in the healthcare sector to alleviate swelling and speed recovery will also contribute to the market's expansion during the forecast period.
Magnets are expected to have the highest value CAGR during the analysis period. Segment expansion is being driven by rising demand from electronics, wind energy, and automotive applications. Electric motor makers, EV manufacturers, electronic component (sensors, microphones, earphones, HDD) manufacturers, and other magnetic assembly manufacturers are the principal customers of neodymium magnets. Demand from end-use sectors, such as transportation and electronics, is driving the expansion of this market segment. Opportunities in wind energy are expected to grow the market at a compound annual growth rate (CAGR) of 15.3% in terms of revenue over the forecast period. The trend towards renewable energy and eco-friendly power sources is largely responsible for its expansion. The increasing need for wind turbines is anticipated to boost the industry. According to the Global Wind Energy Council, the installed capacity increased by roughly 93 GW in 2021, which is a rise of 53 percent from the previous year.
NdFeB magnet use is being driven by rising demand from end-use industries including the automotive and electronics sectors. When compared to magnets made from other materials, Nd magnets have a larger magnetic field, are more compact, and weigh less. The significant increase in demand can be attributed to the proliferation of automobiles, lifts, voice coils, and efficient motors. NdFeB magnets are also the top choice for use in high-tech audio/visual equipment, wind turbines, and electric cars. Stronger magnets are in higher demand because they can replace bulkier electromagnets without sacrificing performance. Over the projection period, these variables will drive NdFeB consumption and industry growth.
Market expansion throughout the research period was hampered by neodymium price volatility. Product pricing is affected by a variety of reasons, including fluctuations in demand and supply, the cost of raw materials, government environmental restrictions, and increased demand from industries like the automobile and electronics sectors. Also, China controls 100% of the rare earth industry. The government has responded by raising export prices and limiting availability. Additionally, considerable price variations are anticipated since the Chinese government has instituted strategic material controls on Nd and other rare earth elements. These variables have the potential to slow the neodymium market over the predicted time frame.
Report Coverage
Global Neodymium research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Neodymium report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Neodymium competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Neodymium market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Neodymium market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Neodymium market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ARAFURA RESOURCES, China Rare Earth Holdings Limited, Lynas Rare Earths Ltd., METALL RARE EARTH LIMITED, MP MATERIALS, Peak Rare Earths, Rainbow Rare Earths Limited, Texas Mineral Resources Corp., HEFA Rare Earth, Greenland Minerals Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Neodymium market based on the below-mentioned segments:
Global Neodymium market, By Application
Magnets
Catalysts
Ceramics & Glass
Others
Global Neodymium Market, By End User
Automotive
Electrical & Electronics
Wind Energy
Others
Global Neodymium market, Regional Analysis
The COVID-19 epidemic has added layers of complexity to the chemical industry's value chains. Businesses in the neodymium industry are observing changes in the global economy and politics as a result of the epidemic. Profitability is being impacted by fluctuating consumer demand. Therefore, stakeholders are concentrating on absolutely necessary initiatives in high-profit fields including permanent magnets, phosphors & luminescence, and metalworking. Businesses in the neodymium industry are placing a premium on possibilities to ride the wave of rising demand by investing in sustainability and the circular economy, developing alternative material techniques, and integrating strategic partners throughout chemical value chains. In response to the spread of the coronavirus, they are rapidly adopting digitalization of operations and associated technology. Stakeholders increasingly favour databased services as a means of effectively allocating resources to emerging technologies and business models.
One of the rarest metals, neodymium (Nd) has an atomic number of 60 and a silvery metallic appearance. Sintered and bonded processes, among others, are used to extract the element from the ground. In addition to being resistant to high temperatures, this metal also possesses exceptional magnetic characteristics. Therefore, it is mostly employed in the field of permanent magnetism. Consequently, the market for neodymium ferrous boron (NdFeB) permanent magnets would be bolstered by rising demand from the automotive and electronics sectors. Increases in the use of electric motors and NdFeB in the healthcare sector to alleviate swelling and speed recovery will also contribute to the market's expansion during the forecast period.
Magnets are expected to have the highest value CAGR during the analysis period. Segment expansion is being driven by rising demand from electronics, wind energy, and automotive applications. Electric motor makers, EV manufacturers, electronic component (sensors, microphones, earphones, HDD) manufacturers, and other magnetic assembly manufacturers are the principal customers of neodymium magnets. Demand from end-use sectors, such as transportation and electronics, is driving the expansion of this market segment. Opportunities in wind energy are expected to grow the market at a compound annual growth rate (CAGR) of 15.3% in terms of revenue over the forecast period. The trend towards renewable energy and eco-friendly power sources is largely responsible for its expansion. The increasing need for wind turbines is anticipated to boost the industry. According to the Global Wind Energy Council, the installed capacity increased by roughly 93 GW in 2021, which is a rise of 53 percent from the previous year.
NdFeB magnet use is being driven by rising demand from end-use industries including the automotive and electronics sectors. When compared to magnets made from other materials, Nd magnets have a larger magnetic field, are more compact, and weigh less. The significant increase in demand can be attributed to the proliferation of automobiles, lifts, voice coils, and efficient motors. NdFeB magnets are also the top choice for use in high-tech audio/visual equipment, wind turbines, and electric cars. Stronger magnets are in higher demand because they can replace bulkier electromagnets without sacrificing performance. Over the projection period, these variables will drive NdFeB consumption and industry growth.
Market expansion throughout the research period was hampered by neodymium price volatility. Product pricing is affected by a variety of reasons, including fluctuations in demand and supply, the cost of raw materials, government environmental restrictions, and increased demand from industries like the automobile and electronics sectors. Also, China controls 100% of the rare earth industry. The government has responded by raising export prices and limiting availability. Additionally, considerable price variations are anticipated since the Chinese government has instituted strategic material controls on Nd and other rare earth elements. These variables have the potential to slow the neodymium market over the predicted time frame.
Report Coverage
Global Neodymium research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Neodymium report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Neodymium competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Neodymium market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ARAFURA RESOURCES, China Rare Earth Holdings Limited, Lynas Rare Earths Ltd., METALL RARE EARTH LIMITED, MP MATERIALS, Peak Rare Earths, Rainbow Rare Earths Limited, Texas Mineral Resources Corp., HEFA Rare Earth, Greenland Minerals Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Neodymium Market from 2021 to 2030.
- Market Forecast for Neodymium Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Neodymium competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Neodymium
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Neodymium market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Neodymium market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ARAFURA RESOURCES, China Rare Earth Holdings Limited, Lynas Rare Earths Ltd., METALL RARE EARTH LIMITED, MP MATERIALS, Peak Rare Earths, Rainbow Rare Earths Limited, Texas Mineral Resources Corp., HEFA Rare Earth, Greenland Minerals Ltd.
Primary Target Market
- Market Players of Neodymium
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Neodymium market based on the below-mentioned segments:
Global Neodymium market, By Application
Magnets
Catalysts
Ceramics & Glass
Others
Global Neodymium Market, By End User
Automotive
Electrical & Electronics
Wind Energy
Others
Global Neodymium market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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