Development trend of NdFeB permanent magnet

From 2018 to 2023, the supply and demand of NdFeB permanent magnet materials in China are basically balanced, with annual output slightly higher than demand, and a small gap between supply and demand. The market supply and demand relationship is relatively healthy, and the supply can basically meet the demand. The increase in demand directly drives the increase in output, and the growth trends of the two are basically synchronized. This shows that the market demand for NdFeB permanent magnet materials is strong, and the expansion of application areas (such as electric vehicles, wind power, consumer electronics, etc.) has played a role in promoting market demand.

1. New energy vehicles drive demand growth

The rapid development of the new energy vehicle market will continue to drive the growth of demand for NdFeB permanent magnet materials. NdFeB permanent magnet materials are widely used in electric vehicle motors. As the global demand for new energy vehicles increases, China, as a major producer, will face huge market opportunities.

2. Expansion of wind power market

The wind power industry is another major application area for NdFeB permanent magnet materials. As the global demand for renewable energy increases, especially with the support of China's domestic policies, the continuous increase in wind power installed capacity will drive the demand for high-performance NdFeB permanent magnet materials.

3. Upgrading of consumer electronics products

The continuous upgrading of consumer electronics products, such as smartphones, tablets and wearable devices, has increased the demand for miniaturized and high-performance magnet materials. The application of NdFeB permanent magnet materials in these fields will be further expanded, driving market demand.

4. Industrial automation and intelligent manufacturing

The development of industrial automation and intelligent manufacturing requires high-performance motors and sensors, and NdFeB permanent magnet materials have significant advantages in these applications. With the advancement of Industry 4.0, the market demand for NdFeB permanent magnet materials will further grow.