The Europe Neodymium Magnet (NdFeB) Market size was significantly robust in 2021 and is expected to register a rapid revenue CAGR over the forecast period. Increasing use of neodymium magnet in the electronics sector, such as televisions and mobile phones and its use in the medical sector due to application in Magnetic Resonance Imaging (MRI) are major factors driving market revenue growth.
NdFeB is a rare-earth magnet with permanent magnetism property, which is created from alloy of iron, neodymium, and boron. In addition, it can be produced through two types of processes bonding and sintering process. Usually, bonded magnets are preferred due to their flexibility and ease of application, while this material has strongest magnetism. Moreover, it can be used in devices such as hard disks, motors, and other tools. While, proving to be very sensitive in sound reproduction, electro-acoustic device companies utilize it to produce high quality loudspeakers and headphones. Furthermore, they are also used as an alternative healing method, in which stationary NdFeB are placed on body to relieve pain from specific areas and this method is known as magnetic field therapy. As of 2021, North American and European regions are developing schemes to encourage production of such rare earth magnets by providing tax incentives. There is a Rare Earth Magnet Manufacturing Protection Tax Credit Act being proposed by the U.S. government, which is capturing attention of the EU regarding this issue as well. Hence, there is a great scope for this market to grow and increase its value.
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Competitive Landscape:
The report offers details about financial standing, global positional, license agreement, business expansion plans and product portfolios of each player operating in the market. The global Neodymium Magnet market is extremely competitive and comprise various key players operating at global and regional levels. These players are adopting various strategies such as mergers and acquisitions, collaborations, joint ventures, partnerships, RD investments and new product launches to gain robust footing in the market and expand their product portfolio.
Key Companies in the market include: Hitachi Metals Ltd. (Japan), Arnold Magnetic Technologies Corporation (U.S.), TDK Corporation (Japan), Chengdu Galaxy Magnets Co., Ltd. (China), Shin-Etsu Chemical Co., Ltd. (Japan), Earth-Panda Advanced Magnetic Materials Co., Ltd. (China), Goudsmit Magnetics (Netherlands), Tengam Engineering Inc. (U.S.), Audemars S.A. (Switzerland), Nippon Steel Corporation (Japan), Yantai Shougang Magnetic Materials Inc. (China)
Report Overview:
The materials and chemicals industry revenue has rapidly expanded over the recent past. The global Neodymium Magnet market is expected to register robust revenue growth during the forecast period, 2021-2028. Revenue growth of the global market is significantly driven by factors such as high demand for raw materials and chemicals across various sectors including food and beverages, paper pulp, chemicals and medical, biotechnology and pharmaceutical and rapid urbanization and industrial developments worldwide. In addition, increasing per capita income, rising investments by public and private organizations and rising demand for eco-friendly and sustainable products due to rising awareness about carbon emissions are expected to boost global market growth during the forecast period.
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Market Segmentation:
Form (Revenue, USD Billion; 2019-2030)
- Bonding
- Sintering
Application/ End Use Outlook (Revenue, USD Billion; 2019-2030)
- Electro-acoustic Field
- Electronic appliances Field
- Mechanical equipment Field
- others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Neodymium Magnet market report:
- What is the expected market size of the global Neodymium Magnet market during the forecast period?
- What factors are expected to hamper global Neodymium Magnet market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Neodymium Magnet market?
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