Picture

Questions?

+1-866-353-3335

SEARCH
What are you looking for?
Need help finding what you are looking for? Contact Us
Compare

PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410252

Cover Image

PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410252

Global NeoDymium Market - Forecasts from 2023 to 2028

PUBLISHED:
PAGES: 110 Pages
DELIVERY TIME: 1-2 business days
SELECT AN OPTION
PDF (Single User License)
USD 4450
PDF (Multiple User License)
USD 5050
PDF (Enterprise License)
USD 7450

Add to Cart

The global neodymium market is projected to grow at a CAGR of 8.50% over the forecast period, increasing from US$2,229.836 million in 2021 to US$3,948.285 million by 2028.

Neodymium symbolized as Nd, is a solid chemical element categorized as a lanthanide and remains in a solid state at room temperature. Comprising approximately 18% of Misch metal, neodymium plays a crucial role in the production of flints for lighters. Additionally, it is a key constituent of didymium glass, employed in the manufacturing of specific welders and glass blower's goggles.

In various industrial applications, neodymium is widely utilized. It finds use in electrical engineering through neodymium magnets, electroacoustic devices, and magnetic mechanical engineering. Notably, it plays a significant role in transportation applications, including magnetic suspension trains and permanent magnet devices for luxury cars. The application of magnetic separation technology, a method utilizing magnetic forces to separate ferromagnetic from non-ferromagnetic substances, is another noteworthy industrial use of neodymium. Furthermore, market value in 2022 showed an increase followed by a decline in 2023, primarily attributed to fluctuations in prices. Investigating the predominant reasons for the bulk of the current global neodymium supply originating from China reveals historical factors. The Chinese government has historically exercised strategic control over this rare earth element, at times leveraging it as a geopolitical tool. Such controls have led to significant price swings. Recent trade tensions between the US and China have further impacted the rare earth element supply chain, including neodymium. Any disruption in this supply chain can result in abrupt price spikes or shortages.

Major product development by key players

Major production developments by significant players will further aid in market growth during the forecast period. For instance, in December 2021, Northern Rare Earth Ruixin Company achieved a milestone by surpassing 10,000 tons in the production of rare earth metals, specifically praseodymium and neodymium. This accomplishment marked the company as the first in its industry worldwide to reach this significant output. In the year 2020, the company had already achieved an impressive, rare earth metal output of 9,000 tons. Subsequently, in 2021, the output further increased, exceeding the 10,000-ton mark. This robust performance laid a strong foundation for the successful commencement of the "14th Five-Year Plan" for Northern Rare Earths.

Growing sales of electric vehicles

Electric motor vehicles (EMVs) have rapidly gained popularity worldwide, as society embraces sustainable transportation solutions, driven by advanced technologies that deliver impressive performance and efficiency. At the core of this transformative shift lies neodymium magnet technology, which offers several key advantages in electric motors. Furthermore, hybrid, plug-in hybrid, and battery-electric vehicle sales have experienced a notable surge in the United States, coinciding with a decline in the sales of traditional non-hybrid gasoline- or diesel-fueled vehicles. From 2018 to 2021, electric vehicle (EV) sales exhibited a substantial increase, rising from 207,062 units to 459,426 units. In the year 2021, all-electric vehicles specifically captured a 3.2% share of the overall light vehicle market. This shift reflects a growing preference for alternative and eco-friendly transportation options, marking a significant transition in the automotive landscape.

In addition, government initiatives will further propel market expansion. For instance, the Government of Japan (GOJ) is offering subsidies to offset a portion of the costs associated with purchasing Clean Energy Vehicles (CEVs), including Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Fuel Cell Electric Vehicles (FCEVs). In 2021, the maximum subsidy amount for CEVs per vehicle is 800,000 Japanese Yen, approximately equivalent to 7,200 US Dollars. According to the Japan Automobile Dealers Association (JADA), new electric vehicle sales in 2020 approached 1.4 million, constituting 36.2% of total new car sales-an increase from 35.2% in 2019 and 32.9% in 2017.

It is projected that the neodymium market in China will grow steadily.

The China neodymium market has experienced remarkable growth in recent years, driven by several key factors that underscore the country's dominance in the global rare earth elements industry. Neodymium, a critical component in the production of high-strength permanent magnets, finds extensive applications in various sectors, including electronics, automotive, renewable energy, and industrial manufacturing.

One of the primary growth factors contributing to the expansion of the China neodymium market is the country's abundant rare earth resources. China possesses a significant share of the world's proven neodymium reserves, providing a strategic advantage in the production of neodymium magnets. This resource abundance has allowed China to emerge as the leading global supplier of neodymium-based products, meeting the increasing demand from both domestic and international markets. In the global push to decarbonize economies and shift towards sustainable energy sources, the electric vehicle (EV) industry has assumed a pivotal role. Notably, China has established itself as a major player in this transformative landscape, emerging as the largest market for electric cars worldwide and hosting some of the most influential EV manufacturers. Currently, China accounts for 54% of the total global production of electric vehicles, and this dominance extends even further when considering its substantial share in the production of EV batteries. The nation's prominence in both EV manufacturing and battery technology underscores its significant contribution to the ongoing global effort to embrace environmentally friendly transportation solutions and foster a sustainable energy future.

Segmentation:

By Application

  • Electrical and Electronic Devices
  • Electric Vehicles
  • Ceramic & Glass
  • Wind Turbines
  • Others

By Geography

  • Americas
  • USA
  • Others
  • Europe, Middle East and Africa
  • Germany
  • France
  • Others
  • Asia Pacific
  • China
  • Japan
  • Others
Product Code: KSI061611176

TABLE OF CONTENTS

1. INTRODUCTION

  • 1.1. Market Overview
  • 1.2. Market Definition
  • 1.3. Scope of the Study
  • 1.4. Market Segmentation
  • 1.5. Currency
  • 1.6. Assumptions
  • 1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY

  • 2.1. Research Data
  • 2.2. Assumptions

3. EXECUTIVE SUMMARY

  • 3.1. Research Highlights

4. MARKET DYNAMICS

  • 4.1. Market Drivers
  • 4.2. Market Restraints
  • 4.3. Porter's Five Force Analysis
    • 4.3.1. Bargaining Power of Suppliers
    • 4.3.2. Bargaining Power of Buyers
    • 4.3.3. Threat of New Entrants
    • 4.3.4. Threat of Substitutes
    • 4.3.5. Competitive Rivalry in the Industry
  • 4.4. Industry Value Chain Analysis

5. GLOBAL NEODYMIUM MARKET, BY APPLICATION

  • 5.1. Introduction
  • 5.2. Electrical and Electronic Devices
  • 5.3. Electric Vehicles
  • 5.4. Ceramic & Glass
  • 5.5. Wind Turbines
  • 5.6. Others

6. GLOBAL NEODYMIUM MARKET, BY GEOGRAPHY

  • 6.1. Introduction
  • 6.2. Americas
    • 6.2.1. USA
    • 6.2.2. Others
  • 6.3. Europe, Middle East and Africa
    • 6.3.1. Germany
    • 6.3.2. France
    • 6.3.3. Others
  • 6.4. Asia Pacific
    • 6.4.1. China
    • 6.4.2. Japan
    • 6.4.3. Others

7. COMPETITIVE ENVIRONMENT AND ANALYSIS

  • 7.1. Major Players and Strategy Analysis
  • 7.2. Market Share Analysis
  • 7.3. Mergers, Acquisition, Agreements, and Collaborations

8. COMPANY PROFILES

  • 8.1. Dexter Magnetic Technologies, Inc.
  • 8.2. Arnold Magnetic Technologies
  • 8.3. VACUUMSCHMELZE GmbH & Co. KG
  • 8.4. TDK Corporation
  • 8.5. Hitachi Metals, Ltd.
  • 8.6. Baotou Tianhe Magnetics Technology Co., Ltd.
  • 8.7. Goudsmit Magnetics
  • 8.8. Thomas and Skinner Inc.
  • 8.9. Arafura Resources Limited
  • 8.10. Avalon Advanced Materials Inc.
  • 8.11. China Rare Earth Holdings Limited
Have a question?
Picture

Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

Picture

Christine Sirois

Manager - Americas

+1-860-674-8796

Questions? Please give us a call or visit the contact form.
Hi, how can we help?
Contact us!