What is Global Bonding Neodymium Magnet Market?
The Global Bonding Neodymium Magnet Market is a vast and dynamic sector that deals with the production, distribution, and application of Bonding Neodymium Magnets. These magnets are a type of rare-earth magnet that is made from an alloy of neodymium, iron, and boron to form the Nd2Fe14B tetragonal crystalline structure. They are the strongest type of permanent magnet commercially available and have replaced other types of magnets in many applications in modern products that require strong permanent magnets, such as motors in cordless tools, hard disk drives, and magnetic fasteners. The global market for these magnets is continually expanding due to their increasing usage in various industries. However, the market is also subject to fluctuations due to factors such as raw material prices, demand and supply dynamics, and technological advancements.
Injection Magnets, Press the Magnets in the Global Bonding Neodymium Magnet Market:
The Global Bonding Neodymium Magnet Market is segmented into Injection Magnets and Press the Magnets. Injection Magnets are the largest segment in the market, occupying a significant share. These magnets are produced by injecting a mixture of neodymium, iron, and boron into a mold. This process allows for the production of magnets in complex shapes and sizes, which is not possible with traditional manufacturing methods. On the other hand, Press the Magnets are produced by pressing a powder mixture of neodymium, iron, and boron under high pressure and then sintering it. This process produces magnets with high magnetic properties but limited in shapes and sizes. Both types of magnets have their unique advantages and are used in various applications depending on the requirements.
Consumer Electronics, Automobile, Household Appliances, Office Equipment, Other in the Global Bonding Neodymium Magnet Market:
The Global Bonding Neodymium Magnet Market finds its usage in several areas including Consumer Electronics, Automobile, Household Appliances, Office Equipment, and others. In Consumer Electronics, these magnets are used in devices like headphones, speakers, and hard disk drives due to their high magnetic strength and compact size. In the Automobile industry, they are used in electric motors for electric and hybrid vehicles. Household Appliances like washing machines, air conditioners, and refrigerators also use these magnets in their motors. Office Equipment like printers and copiers use these magnets in their motors and magnetic rollers. Other applications include medical devices, wind turbines, and industrial machinery. Each application has its specific requirements and challenges, and the market is continually evolving to meet these needs.
Global Bonding Neodymium Magnet Market Outlook:
The Global Bonding Neodymium Magnet Market is a thriving sector with a promising future. As of 2022, the market was valued at US$ 627 million and is projected to reach US$ 940.5 million by 2029. This growth represents a Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period from 2023 to 2029. The market is dominated by the top three players who hold a share of over 40%. The largest product type in the market is Injection Magnets, which holds a share of 83%. In terms of application, Consumer Electronics holds the highest share of about 31 percent. These figures indicate the significant potential and opportunities present in the Global Bonding Neodymium Magnet Market.
| Report Metric | Details |
| Report Name | Bonding Neodymium Magnet Market |
| Accounted market size in 2023 | US$ 755 million |
| Forecasted market size in 2029 | US$ 940.5 million |
| CAGR | 3.7 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Sales by Region |
|
| By Company | Galaxy Magnetic, Beijing Zhong Ke San Huan Hi-Tech, Daido Electronics, Zhejiang Innuovo Magnetics, Yunsheng Company, Advanced Technology and Materials, Magsuper, Pinghu Geor Chi Electronics, Newland Magnetics, JL MAG |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
