Product Code: GVR-4-68038-372-0
Neodymium Market Growth & Trends:
The global neodymium market size is expected to reach USD 7.30 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 15.0% from 2022 to 2030. The market is anticipated to be driven by rising demand for neodymium magnets from wind energy and electric vehicle industries.
China is the largest producer of both rare earth and permanent magnets in the world. The country accounts for over 70% of the global permanent magnet production and 60% of the global rare earth production according to the global mining data published by the USGS. The significant factor that has led to China's dominance, especially in rare earth permanent magnet production, is the abundance of rare earth deposits in China.
In terms of value, magnets are anticipated to register the fastest CAGR during the forecast period. Their growing demand from electronics, wind energy, and automotive end-uses is propelling segment growth. The primary consumers of neodymium magnets include electric motor manufacturers, EV manufacturers, electronic component (sensors, microphones, earphones, HDD) manufacturers, and other magnetic assembly manufacturers. Thus, growing demand from end-use industries such as automotive and electronics is propelling segment growth.
Wind energy is projected to provide opportunities for the market and the segment is anticipated to register a revenue-based CAGR of 15.3% during the forecast period. Its growth is attributed to the increasing shift towards renewable energy and sustainable energy practices. Wind turbine demand is expected to positively impact market growth. As per the Global Wind Energy Council, 2021 witnessed around 93 GW of installed capacity addition, an increase of 53% from 2020.
In terms of volume, North America is a significantly smaller market as compared to Asia Pacific. The lesser availability of rare earth oxides in the region makes the region import-reliant on China. The catalyst producers are the prominent consumers of neodymium in North America, which cater to the tire and oil and gas industries. The commercial uses of neodymium catalysts are limited owing to their expensive nature. They are used in refinery petroleum cracking, polymerization, and photovoltaic wastewater treatment.
Neodymium Market Report Highlights:
- Based on application, magnets held the largest revenue share of over 55.0% in 2021. The growing usage of permanent magnets is propelling the market growth
- Based on end-use, the electrical and electronics segment is anticipated to register a CAGR of 14.9%, in terms of revenue, across the forecast period. The widespread application scope of neodymium in fiber optic technology, speakers, and other electronic components is boosting segment growth
- Europe held the second-largest revenue share in 2021. The rising demand for magnets in end-use industries including automotive and wind energy is anticipated to augment the market growth over the forecast period
- The favorable policies and governments' initiatives toward economic recovery after the pandemic are anticipated to augment the demand for neodymium over the coming years. For instance, investments by the Chinese automotive manufacturer, BYD Auto Industry Co., Ltd., and Japanese automotive player, Toyota, to set up a manufacturing facility in Central and South America are expected to boost automotive production, thereby propelling the need for neodymium magnets
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Research Methodology
- 1.4. Research Scope and Assumptions
- 1.5. Information Procurement
- 1.5.1. Purchased database
- 1.5.2. GVR's Internal Database
- 1.5.3. Secondary Sources
- 1.5.4. Third-Party Perspective
- 1.5.5. Primary Research
- 1.6. Information Analysis
- 1.6.1. Data Analysis Models
- 1.7. Market Formulation and Data Visualization
- 1.8. Data Validation and Publishing
Chapter 2. Executive Summary
- 2.1. Market Insights
- 2.2. Market Snapshot
- 2.3. Segmental Outlook
- 2.4. Competitive Insights
Chapter 3. Market Variables, Trends & Scope
- 3.1. Market Outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Value Chain Analysis
- 3.3.1. Sales Channel Analysis
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Opportunities
- 3.5.4. Industry Challenges
- 3.6. Porter's Five Forces Analysis
- 3.7. PESTEL Analysis
Chapter 4. Neodymium Market: Application Estimates & Trend Analysis
- 4.1. Definition & Scope
- 4.2. Application Movement Analysis & Market Share, 2021 & 2030
- 4.3. Magnets
- 4.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 4.4. Catalysts
- 4.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 4.5. Ceramics & Glass
- 4.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 4.6. Others
- 4.6.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
Chapter 5. Neodymium Market: End-use Estimates & Trend Analysis
- 5.1. Definition & Scope
- 5.2. Automotive
- 5.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 5.3. Electrical & Electronics
- 5.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 5.4. Wind Energy
- 5.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 5.5. Others
- 5.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
Chapter 6. Neodymium Market: Regional Estimates & Trend Analysis
- 6.1. Regional Snapshot
- 6.2. Regional Movement Analysis & Market Share, 2021 & 2030
- 6.3. North America
- 6.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 6.3.2. Market estimates and forecasts, by application 2017 - 2030 (USD Million) (Tons)
- 6.3.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.3.4. U.S.
- 6.3.4.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.3.4.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.3.4.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.3.5. Canada
- 6.3.5.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.3.5.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.3.5.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.3.6. Mexico
- 6.3.6.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.3.6.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.3.6.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.4. Europe
- 6.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 6.4.2. Market estimates and forecasts, by application 2017 - 2030 (USD Million) (Tons)
- 6.4.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.4.4. Germany
- 6.4.4.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.4.4.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.4.4.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.4.5. France
- 6.4.5.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.4.5.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.4.5.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.4.6. U.K.
- 6.4.6.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.4.6.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.4.6.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.5. Asia Pacific
- 6.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 6.5.2. Market estimates and forecasts, by application 2017 - 2030 (USD Million) (Tons)
- 6.5.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.5.4. China
- 6.5.4.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.5.4.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.5.4.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.5.5. India
- 6.5.5.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.5.5.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.5.5.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.5.6. Japan
- 6.5.6.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.5.6.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.5.6.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.6. Central & South America
- 6.6.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 6.6.2. Market estimates and forecasts, by application 2017 - 2030 (USD Million) (Tons)
- 6.6.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.6.4. Brazil
- 6.6.4.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.6.4.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.6.4.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.7. Middle East & Africa
- 6.7.1. Market estimates and forecasts, 2017 - 2030 (USD Million) (Tons)
- 6.7.2. Market estimates and forecasts, by application 2017 - 2030 (USD Million) (Tons)
- 6.7.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
- 6.7.4. South Africa
- 6.7.4.1. Market estimates and forecasts,2017 - 2030 (USD Million) (Tons)
- 6.7.4.2. Market estimates and forecasts, by application, 2017 - 2030 (USD Million) (Tons)
- 6.7.4.3. Market estimates and forecasts, by end-use, 2017 - 2030 (USD Million) (Tons)
Chapter 7. Competitive Analysis
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Vendor Landscape
- 7.2.1. List of Raw Material & Equipment Suppliers, Distributors and Other Prominent Manufacturers
- 7.2.2. List of Prospective End-Users
Chapter 8. Company Profiles
- 8.1. ARAFURA RESOURCES
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Strategic Initiatives
- 8.2. China Rare Earth Holdings Limited
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.3. Lynas Rare Earths Ltd.
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Strategic Initiatives
- 8.4. METALL RARE EARTH LIMITED
- 8.4.1. Company Overview
- 8.4.2. Product Benchmarking
- 8.5. MP MATERIALS
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.6. Peak Rare Earths
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Strategic Initiatives
- 8.7. Rainbow Rare Earths Limited
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Benchmarking
- 8.7.4. Strategic Initiatives
- 8.8. Texas Mineral Resources Corp.
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Product Benchmarking
- 8.9. HEFA Rare Earth
- 8.9.1. Company Overview
- 8.9.2. Product Benchmarking
- 8.10. Greenland Minerals Ltd.
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Product Benchmarking