China’s permanent magnet material industry plays an important role in the world. There are not only many enterprises engaged in production and application, but also research work has been in the ascendant. Permanent magnet materials are mainly divided into rare earth magnet, metal permanent magnet, composite permanent magnet and ferrite permanent magnet. Among them, rare earth Neodymium magnet is a widely used and rapidly developing magnet product.
1. China takes advantage of rare earth Neodymium permanent magnet materials.
China is the largest producer of rare earth minerals, accounting for 62.9% of the total rare earth mineral products in 2019, 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 base and export base of rare earth magnets. According to the statistics of China Rare Earth Industry Association, in 2018, China produced 138000 tons of Neodymium magnets, accounting for 87% of the world’s total output, nearly 10 times that of Japan, the second largest in the world.
2. Rare earth Neodymium magnets are widely used in the world.
From the perspective of application fields, low-end Neodymium magnet is mainly used in magnetic adsorption, magnetic separation, electric bicycle, luggage buckle, door buckle, toys and other fields, while high-performance Neodymium magnet is mainly used in various types of electric motors, including energy-saving motor, automobile motor, wind power generation, advanced audio-visual equipment, elevator motor, etc.
3. China’s rare earth Neodymium materials are rising steadily.
Since 2000, China has become the world’s largest producer of rare earth Neodymium magnets. With the development of downstream applications, the output of NdFeB magnet materials in China has been growing rapidly. According to the data of China Rare Earth Industry Association in 2019, the output of sintered Neodymium blanks was 170000 tons, accounting for 94.3% of the total output of Neodymium magnetic materials in that year, bonded NdFeB accounted for 4.4%, and other total output accounted for only 1.3%.
4. China’s Neodymium magnet production is expected to continue to rise.
Global downstream consumption of NdFeB is distributed in the motor industry, bus and railway, intelligent robot, wind power generation and new energy vehicles. The growth rate of the above industries in the next five years will all exceed 10%, which will lead to the increase of Neodymium production in China. It is estimated that the output of Neodymium magnet in China will maintain a growth rate of 6% in the next five years, and will exceed 260000 tons by 2025.
5. Demand for high performance rare earth magnet materials is expected to grow.
High performance rare earth magnets are widely used in low-carbon economic fields, such as energy-saving and environmental protection manufacturing industry. As countries around the world invest heavily in low-carbon, energy-saving and environmental protection manufacturing industry and promote green products, countries invest heavily in low-carbon, energy-saving and environmental protection manufacturing industry and promote green products With the rapid development of emerging industries such as new energy vehicles, wind power generation robots and smart manufacturing, the demand for high-performance rare earth permanent magnets is expected to grow. With the rapid development of emerging industries, the demand for high-performance rare earth magnet materials is expected to grow.
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Company Name: Ningbo Horizon Magnetic Technologies Co., Ltd.
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