Dongguan Guanghong Magnet Products Co., Ltd

Neodymium Iron Boron Magnets in the Global Industry

The world’s neodymium iron boron magnet industry is mainly applied in the automotive industry, computer industry, nuclear magnetic resonance imaging industry, optical disc industry, and machine tool industry.

The permanent magnet market in the United States is similar to that in Japan. The average annual growth rate in the past 5 years has reached 12.1%, with bonded neodymium iron boron gradually becoming the mainstream product in the market, with an average annual growth rate of over 20%. Its largest market is mechanical and electrical products. There are 40 permanent magnet manufacturers in the United States, with sintered and bonded magnet factories accounting for about half.

The development of neodymium iron boron permanent magnet industries in Japan and the United States has a common characteristic, which is to focus on developing high-end sintered and bonded products, and to transfer some mid range products, most low-end products, and ferrite products overseas.

China holds the largest market share in Asia, and the domestic neodymium iron boron rare earth neodymium iron boron industry is developing rapidly with continuously improving technological level.

In the future, high-performance and low-priced domestic magnetic powder will play an important role. In the past few years, China and Japan have invested a lot of manpower and material resources to develop magnetic powder production technology and improve the temperature tolerance of magnetic powder. However, in terms of magnetic forming technology, except for Aichi Steel in Japan, it is far from mature, seriously hindering the promotion and application of this type of magnet. The future development will also revolve around high-performance, low-cost magnetic powder and cost-effective forming technology.

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