The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The China neodymium iron boron magnet market reached a volume of 101,719 Tons in 2021.
We expect the China neodymium iron boron magnet market to exhibit a CAGR of 5.10% during
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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