A neodymium magnet is a type of rare-earth magnet and is a permanent magnet that is made from an alloy of neodymium, iron, and boron to form the Nd2Fe14B tetragonal crystalline structure. Commercially, these are the strongest type of permanent magnets available. Due to the difference in the manufacturing process, the neodymium magnet can be classified into sintered and bonded neodymium magnets.
MARKET DYNAMICS
The increasing trend of modernization and electrification to improve efficiency as well as reduce the cost of production is driving the growth of neodymium magnets. The increase in the production in the electronic sector as well as increasing demand from the medical industry is driving the growth of neodymium magnets. Along with this, an increase in the development of nano-tech products across major industries is another factor driving the market growth.
MARKET SCOPE
The "Global Neodymium Magnet Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the neodymium magnet market with detailed market segmentation by type, application, and geography. The global neodymium magnet market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading neodymium magnet market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The Global Neodymium Magnet Market is segmented based on type and application. Based on type, the market is segmented into cotton sintered neodymium magnet and bonded neodymium magnet. Based on application, the market is segmented into s electronics, medical devices, motor and generators, automotive parts, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global neodymium magnet market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The neodymium magnet market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the neodymium magnet market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the neodymium magnet market in these regions.
MARKET PLAYERS
The report covers key developments in the neodymium magnet market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from neodymium magnet market are anticipated to witness lucrative growth opportunities in the future with the rising demand for neodymium magnet in the global market. Below mentioned is the list of few companies engaged in the neodymium magnet market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the neodymium magnet market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Arnold Magnetic Technologies
- Dura Magnetics
- Hitachi Metals, Ltd
- Integrated Magnetics
- JL Mag
- Ningbo Yunsheng Co., Ltd
- TH Magnetics
- VACUUMSCHMELZE GmbH & Co. KG
- Yantai Shougang Magnetic Materials Inc
- Zhong Ke San Huan Hi-Tech Co., Ltd.