Bonded Ndfeb Magnet Market - Forecast(2024 - 2030)

Report Code: CMR 28359 Report Format: PDF + Excel

Bonded Ndfeb Magnet Market Overview

The bonded Ndfeb magnet market size is estimated to reach US$2.5 billion by 2027 after growing at a CAGR of around 5.1% from 2022 to 2027. Bonded Ndfeb magnet is type of neodymium magnet which is made when bonded neodymium powder is mixed with epoxy resins. Such rare earth magnet provides greater flexibility than sintered magnet in terms of shape and is much lighter than samarium cobalt. Such magnet has high mechanical strength and dimensional accuracy due to which it is used in various applications like, micro and electric motors, audio-visual equipment, office automation equipment and various electrical equipments like mobile phones and computers. Hence, due to such high applicability, bonded Ndfeb magnet is used in sectors like automotive, electronics, home appliance and power sector. Factors like an increase in demand for electric vehicles, high consumption of mobiles and growing wind energy projects are driving the growth of bonded Ndfeb magnet market. However, availability of substitute magnet like ferrite magnet can limit the usage of neodymium magnet which can hamper the growth of global bonded Ndfeb magnet industry.

Bonded Ndfeb Magnet Market COVID-19 Impact

Rare earth magnet like bonded Ndfeb magnet has various major end-user industries like automotive and electronics. It is used in micro motors of electric and commercial vehicles, while in electronic equipment it is used in mobile voice call motor and in computer hard drives. The lockdown implemented globally to prevent the widespread of COVID-19 decreased the production and sales of automotive and electronics sector. For instance, according to International Energy Agency (IEA), in first-half of 2020, global electric car sales were on average 15% lower than over the same period in 2019. Further, according to China Academy of Information and Communications Technology, in 2020, smartphone shipments in China declined 20% as Covid-19 led to manufacturing disruptions. Such a decrease in production and sales of electric vehicles and mobiles will create less demand of Ndfeb magnets, to be used in micro motors of electric vehicles and in voice call motor of mobiles. This had a negative impact on the growth of global bonded Ndfeb magnet industry.

Report Coverage

The report: “Bonded Ndfeb Magnet Market Report – Forecast (2022 – 2027)”, by IndustryARC covers an in-depth analysis of the following segments of the global bonded Ndfeb magnet industry.

By Shape – Ring, Rectangular, Square, and Others.
By Process – Compression Molding, and Injection Molding.
By Application – Office Automation Equipment (Printers, Fax Machine, Laminators, and Others), Micro Motors, Metering Machinery, CD-ROM & DVD-ROM, Electric Generators, and Others.
By End Use Industry – Automotive (Commercial Vehicles, Passenger Vehicles), Energy and Power, Electronic & Electrical (Mobile, Computers, Headphones, and Others), Medical, Home Appliance (Refrigerator, Television, and Air Conditioners), and Others.
By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

Key Takeaways

  • Asia-Pacific dominates the global bonded Ndfeb magnet industry as the region consists of country China which is the leading producer and consumer of electronic equipment’s like smartphone and also of electric vehicles.
  • The greater strength of neodymium magnets has inspired new applications in areas where magnets were not used before, such as magnetic jewellery clasps, children's magnetic building sets.
  • The strength and magnetic field homogeneity on neodymium magnets has also opened new applications in the medical field with the introduction of open magnetic resonance imaging scanners used to image body in radiology departments as an alternative to superconducting magnets.

Figure: Asia-Pacific Bonded Ndfeb Magnet Market Revenue, 2021-2027 (US$ Billion)

Bonded Ndfeb Magnet Market

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Bonded Ndfeb Magnet Market Segment Analysis – By Shape

Ring shape accounted for approximately 42% of the bonded Ndfeb magnet market share in 2021 and is estimated to grow at a significant CAGR during forecast period. Ring shaped bonded neodymium magnet is used in mobiles as autofocus actuators, in electric cars in motors of window, windscreen and door closing system. The growing demand for hybrid vehicles and increase in consumption of smartphones has positively impacted the usage of bonded Ndfeb magnet. For instance, according to China Academy of Information and Communication, in February 2021, shipments of smartphones within China jumped 236.6% annually to 21.3 million compared to 6.3 million sold in 2020 for same month. Further, according to International Energy Agency, in 2021, global sales of plug-in hybrid vehicles was 6.6 million units compared to 3 million units sold in 2020 showing 120% increase. The increase in mobile consumption and hybrid vehicle sales will create more usage of bonded Ndfeb magnet in electronic and automotive sector, resulting a positive growth for global bonded Ndfeb magnet industry.

Bonded Ndfeb Magnet Market Segment Analysis – By End Use Industry

Automotive sector accounted for approximately 27% of the bonded Ndfeb magnet market share in 2021 and is estimated to grow at a significant CAGR during forecast period. Bonded Ndfeb neodymium magnet is majorly used in micro motors for windshield and in electric power steering for light commercial vehicles. The rapid development in automotive sector has increased the production level of light commercial vehicles. For instance, according to International Organization of Motor Vehicle Manufacturer, in 2021, light commercial vehicle production was 18.6 million units compared to 17.2 million units, showing 8% increase. Hence, such increase in light commercial vehicles production will lead to more usage of bonded Ndfeb magnet. This will provide a positive impact on the growth of global bonded Ndfeb magnet industry.

Bonded Ndfeb Magnet Market Segment Analysis – By Geography

Asia-Pacific accounted for approximately 37% of the bonded Ndfeb magnet market share in 2021 and is estimated to grow at a significant CAGR during forecast period. This owns to factors like the region consists of economies like China and India which consists of major end user of bonded Ndfeb magnet such as automotive and energy & power. The increase in industrial productivity of these nations on account of their rapid economic development has positively impacted the demand for bonded Ndfeb magnet. For instance, according to Ministry of New and Renewable Energy, in 2021, India added 1.45 GW of wind capacity showing 30% increase compared to 1.11 GW installed in 2020. Further, according to China Passenger Car Association, in 2021, total sales of passenger electric vehicle in China increased by 2.99 million units showing a jump of 169.1% compared to 2020. Bonded Ndfeb magnet is used in electric generator for wind turbine making and for electric vehicles in door closing system. The increase in productivity of energy sector in India and automotive sector in China will positively impact growth of global bonded Ndfeb magnet industry.

Bonded Ndfeb Magnet Market Drivers

Increase in Sales of Electric Vehicles

Bonded neodymium magnet which is lighter than samarium cobalt, forms a major component in automotive electronic technology which is used in vehicle multimedia system, energy transmission system. Hence, besides this, bonded Ndfeb magnet is also used in high performance electric motors which are used in electric vehicles to increase engine performance. The increase in demand for high performance electric vehicle has led to increase in sales of electric vehicles. For instance, according to EV Volumes, in 2021, global electric vehicles sales reached 6.75 million units which was 108 % more than in 2020 and the volume included passenger vehicles, light trucks and light commercial vehicles. Such increase in global sales of electric vehicles will create more demand for bonded Ndfeb magnet to be used in electric motors and multimedia system of hybrid electric vehicles. This will boost global bonded Ndfeb magnet industry growth. 

Growing Consumption of Smartphones

Bonded Ndfeb magnet are used in smartphones in speaker, receiver, vibration mode motor, taptic feedback motor, and camera auto-focus mechanism. Moreover, due to their high mechanical strength, such neodymium magnet type as voice call motor can actuate the auto-focus mechanism in a fraction of a second. The rapid urbanization and improvement in living standards has increased the consumption of smartphones in major economies. For instance, according to India Brand Equity Foundation, in 2021, India’s smartphone shipment increased 11% with 169 million unit shipped. Further, according to China Academy of Information and Communication Technology, China’s 5G smartphone shipments from January to December 2021 reached 266 million units showing 63.5% increase compared to 2020. Such increase in consumption of smartphones will increase their level of production, which leads to more usage of bonded Ndfeb magnet in smartphones. This will boost growth of global Ndfeb magnet industry.

Bonded Ndfeb Magnet Market Challenge

Availability of Substitutes

Rear earth magnet like bonded Ndfeb magnet though it provides certain benefits, but it has low curie temperature point and is easy to powder corrosion due to which it requires constant coating of epoxy resins. Certain substitutes like ferrite magnets have a higher curie temperature than neodymium magnets, so they maintain their magnetization better at higher temperatures. Hence, the availability of such substitutes that has high temperature properties, can limit the usage of bonded Ndfeb magnet in certain sectors like energy and automotive. This can hamper the growth of global bonded Ndfeb magnet industry. 

Global Bonded Ndfeb Magnet Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. In the bonded Ndfeb magnet market report, the global bonded Ndfeb magnet top 10 companies are:

  1. Arnold Magnetic Technologies
  2. Stanford Magnets
  3. American Superconductor Company
  4. Adams Magnetic Products
  5. SDM Magnetics Co. Ltd
  6. Ningbo Yunsheng Co. Ltd.
  7. Advanced Technology Materials Co. Ltd.
  8. MMC Magnetics Corp
  9. Dura Magnetics, Inc.
  10. Dexter Magnetic Technologies

Recent Developments

  • In 2020, USA Rare Earth LLC acquired neodymium iron boron permanent magnet manufacturing equipment owned by Hitachi Metal America Ltd. and the equipment will provide USA Rare Earth LLC to re-establish rare earth magnet production in US.
  • In 2020, Neo Performance Material Inc. expanded its Ndfeb magnet manufacturing capacity in two facilities of Tianjin and Chuzhou in China on account of increase in demand.
  • In 2019, TDK Corporation acquired research and development portfolio for magnet alloys from Showa Denko and such acquisition will bolster TDK Corporation’s position in neodymium rare earth magnetics. 

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1. Bonded Ndfeb Magnet Market- Market Overview
    1.1  Definitions and Scope
2. Bonded Ndfeb Magnet Market - Executive Summary
    2.1 Key Trends by Shape
    2.2 Key Trends by Process
    2.3 Key Trends by Application
    2.4 Key Trends by End Use Industry
    2.5 Key Trends by Geography
3. Bonded Ndfeb Magnet Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Bonded Ndfeb Magnet Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Bonded Ndfeb Magnet Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Bonded Ndfeb Magnet Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Bonded Ndfeb Magnet Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Bonded Ndfeb Magnet Market – By Shape (Market Size – US$ Million/ Billion)
    8.1 Ring
    8.2 Rectangular
    8.3 Square
    8.4 Others
9. Bonded Ndfeb Magnet Market – By Process (Market Size - US$ Million/Billion)
    9.1 Compression Molding
    9.2 Injection Molding
    9.3 Others
10. Bonded Ndfeb Magnet Market – By Application (Market Size -US$ Million/Billion)
    10.1 Office Automation Equipment
        10.1.1 Printers
        10.1.2 Fax Machines
        10.1.3 Laminators
        10.1.4 Others
    10.2 Micro Motors
    10.3 Metering Machinery
    10.4 CD-ROM & DVD-ROM
    10.5 Electric Generators
    10.6 Others
11. Bonded Ndfeb Magnet Market – By End Use Industry (Market Size -US$ Million/Billion)
    11.1 Automotive
        11.1.1 Commercial Vehicles
        11.1.2 Passenger Vehicles
    11.2 Energy and Power
    11.3 Electronic & Electrical
        11.3.1 Mobiles
        11.3.2 Computers
        11.3.3 Headphones
        11.3.4 Others
    11.4 Medical
    11.5 Home Appliance
        11.5.1 Refrigerator
        11.5.2 Television
        11.5.3 Air Conditioner
    11.6 Others
12. Bonded Ndfeb Magnet Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Bonded Ndfeb Magnet Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Bonded Ndfeb Magnet Market – Industry/Competition Segment Analysis Premium 
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Bonded Ndfeb Magnet Market – Key Company List by Country Premium Premium 
16. Bonded Ndfeb Magnet Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best effort basis for private companies"

LIST OF TABLES

1.Global Bonded Ndfeb Magnet Market, by Type Market 2023-2030 ($M)
2.Global Bonded Ndfeb Magnet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global Bonded Ndfeb Magnet Market, by Type Market 2023-2030 (Volume/Units)
4.Global Bonded Ndfeb Magnet Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America Bonded Ndfeb Magnet Market, by Type Market 2023-2030 ($M)
6.North America Bonded Ndfeb Magnet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America Bonded Ndfeb Magnet Market, by Type Market 2023-2030 ($M)
8.South America Bonded Ndfeb Magnet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe Bonded Ndfeb Magnet Market, by Type Market 2023-2030 ($M)
10.Europe Bonded Ndfeb Magnet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC Bonded Ndfeb Magnet Market, by Type Market 2023-2030 ($M)
12.APAC Bonded Ndfeb Magnet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA Bonded Ndfeb Magnet Market, by Type Market 2023-2030 ($M)
14.MENA Bonded Ndfeb Magnet Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)

LIST OF FIGURES

1.US Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
2.Canada Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
3.Mexico Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
4.Brazil Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
5.Argentina Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
6.Peru Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
7.Colombia Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
8.Chile Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
10.UK Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
11.Germany Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
12.France Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
13.Italy Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
14.Spain Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
16.China Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
17.India Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
18.Japan Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
19.South Korea Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
20.South Africa Global Bonded Ndfeb Magnet Industry Market Revenue, 2023-2030 ($M)
21.North America Global Bonded Ndfeb Magnet Industry By Application
22.South America Global Bonded Ndfeb Magnet Industry By Application
23.Europe Global Bonded Ndfeb Magnet Industry By Application
24.APAC Global Bonded Ndfeb Magnet Industry By Application
25.MENA Global Bonded Ndfeb Magnet Industry By Application