NingBo BeiLun Meank Magnetics Co., Ltd
NingBo BeiLun Meank Magnetics Co., Ltd

The Demand for Neodymium Magnets Has Increased Significantly!

Neodymium magnets, also known as neodymium iron boron magnets, are tetragonal crystals composed of neodymium, iron, and boron (Nd2Fe14B). It is one of the most powerful permanent magnets on the market today. Today, with the rapid development of emerging industries represented by new energy vehicles and wind power generation, the demand for neodym magnets has increased significantly.

According to different manufacturing processes, NdFeB permanent magnets can be divided into three types: sintered NdFeB magnets, bonded NdFeB magnets and hot-pressed NdFeB magnets, which have their own characteristics in performance and application.

In terms of application fields, low-end NdFeB magnets are mainly used in magnetic separators, electric bicycles, luggage buckles, door buckles, toys and other fields, while high-performance NdFeB magnets are mainly used in energy-saving motors, automotive motors, wind power generation Machines, advanced audio-visual equipment, elevator motors, voice coil motors, etc.

1. China has become the world's largest producer of neodym magnets

China is the largest producer of rare earths. In 2019, the total output of rare earth minerals was 132,000 tons, accounting for 62.9% of the world's total output, followed by the United States and Australia, accounting for 12.4% and 10%, respectively.

Thanks to rare earth reserves, China has become the world's largest production and export base of rare earth permanent magnets. In 2018, China produced 138,000 tons of NdFeB magnets, accounting for 87% of the world's total output, nearly 10 times that of Japan, the world's second largest producer.

Since 2000, China has become the world's largest producer of rare earth NdFeB permanent magnets. From 2010 to 2019, the output of NdFeB permanent magnets in China increased by 118%, with an average annual compound growth rate of 9.06%. China's NdFeB production capacity is mainly concentrated in Zhejiang, Shanxi, Shandong, Inner Mongolia and other places. Among them, Zhejiang has the advantages of concentrated industry, numerous enterprises, and comprehensive development of the industrial chain, with an annual production capacity of 115,600 tons, accounting for 38.7% of China's total production capacity.

2. China's neodym magnet production is expected to continue to rise

It can be seen from the previous analysis that the motor industry, wind power generation, and new energy vehicles are the main consumption areas of NdFeB magnets in the world.

The growth rate of the above industries in the next five years will exceed 10%, which will drive the increase in demand for neodym magnets.

After years of development in the field of rare earth permanent magnets, our company not only produces the highest grade NdFeB power magnets, but also various magnet components (such as holding magnets, pot magnets, separation magnets, etc.) and magnetic tools. Welcome to consult.

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