The China NdFeB magnet market size reached 97,400 Tons in 2022. Looking forward, IMARC Group expects the market to reach 129,830 Tons by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
Neodymium - Iron - Boron (NdFeB) are the strongest types of permanent magnets commercially available. These magnets have the highest energy product for their mass compared to other permanent magnets and create the strongest magnetic field. This strong magnetic strength allows for significant product miniaturisation, improved product performance, super strong adhesive force and reduced manufacturing costs. NdFeB magnets are available in a wide range of shapes, sizes and grades and can be found in a variety of applications such as high-performance motors, brushless DC motors, magnetic separation, magnetic resonance imaging, sensors and loudspeakers.
The market for NdFeB magnets in China is strongly driven by the abundant availability of raw materials required for their production. China has the largest reserve of rare-earth minerals and holds a monopoly over the raw materials. However, since the regulations for exporting the raw materials have become stringent over the past few years, the industries that are dependent on these magnets have set up their plants in China in order to reduce their production costs. Some of the industries where the demand for these magnets is growing include electronics, medical devices, automobiles, wind industry, etc.
IMARC Group’s latest report provides a deep insight into the China neodymium-iron-boron magnet market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the China neodymium-iron-boron magnet market in any manner.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the China NdFeB magnet market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on application, and domestic consumption and exports.
Breakup by Application:
Breakup by Region:
Breakup by Domestic Consumption and Exports:
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Key Player Profiles
Base Year of the Analysis
Tons, US$ Million
Application, Domestic Consumption and Exports, Region
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Key Questions Answered in This Report
The China neodymium iron boron magnet market reached a volume of 97,400 Tons in 2022.
We expect the China neodymium iron boron magnet market to exhibit a CAGR of 5% during 2023-2028.
The growing utilization of neodymium iron boron magnet in high-performance motors, brushless DC
motors, magnetic resonance imaging, sensors, etc., owing to their strong magnetic field, is currently
driving the China neodymium iron boron magnet market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across the nation resulting in temporary closure of numerous manufacturing
units for neodymium iron boron magnet.
Based on the application, the China neodymium iron boron magnet market has been segmented into
automobile, electronics, power generators, medical industry, wind power, and others. Among these,
the automobile sector currently represents the largest market share.
Based on the domestic consumption and exports, the China neodymium iron boron magnet market
can be bifurcated into domestic consumption and exports. Currently, domestic consumption
accounts for the majority of the total market share.
On a regional level, the market has been classified into Guangdong, Jiangsu, Shandong, Zhejiang,
Henan and others, where Guangdong currently dominates the market.
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