Global Neodymium Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Neodymium is found in ore minerals like bastnasie and monazite. Ion exchange and solvent extraction processes commercially extract it. The augmented awareness about electric vehicles and the successive increase in the demand for these vehicles from customers is the key drivers for the neodymium market. Attributing to its magnetic properties, neodymium has been gathering attention from electronic automotive manufacturers for application in magnetic motors. The manufacturers of electric vehicles are also increasing the adoption of neodymium. 

Data Bridge Market Research analyses that the neodymium market was valued at USD 554.83 million in 2021 and is expected to reach USD 783.00 million by 2029, registering a CAGR of 4.40% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.     

Report Scope and Market Segmentation

Market Definition

Neodymium is an element which has 60 atomic number and the symbol is Nd. It is considered to be one of the rare-earth metals. Neodymium is malleable and ductile silvery white metal. Which is quickly tarnishes in moisture and air. It oxidizes willingly in air and form an oxide, Nd2O3 which is easily spalls, exposing the metal to further oxidation. This metal must be stored in sealed plastic or placed in vacuum or in an unreactive atmosphere.

Neodymium Market Dynamics

Drivers

• Rise the demand for in green energy technologies

Neodymium is widely used for generating energy. Due to global warming, various countries strive to use green energy sources to fulfill their requirement. Thus, wind energy and solar energy have gained momentum. Wind energy is the most effective technique available to generate energy. These wind mills have intrinsic motors made by a special rare-earth magnet called neodymium.

• Increase the use in permanent magnet

Neodymium are the most widely used in permanent magnet because it is the strongest rare earth-metal. The permanent magnet contains boron, iron, and neodymium alloy having an Nd2Fe14B tetragonal crystalline structure. Amongst different qualities of magnets like N42, N38SH, N52, N50, N48, N38, and N35 are available in the market, N52 is considered the highest grade and strongest and highest grade of neodymium magnets. 

• Rise the use in glass industry

Neodymium is mainly used as a colorant for glasses. When neodymium is added to glass, it can produce colors ranging from pure violet to wine red through to warm grey. It is also used to remove the green color from the glass which has induced by the presence of iron. Neodymium consisting glasses can be used for astronomical work to sharp bands for the standardization of spectral lines, as an alternative to ruby in lasers for producing coherent light and filter for infrared radiation these factors are expected to drive the growth of the neodymium market.

Opportunities

Magnets held the major volume share of during the forecast period. Neodymium along with boron and iron makes a very strong permanent magnet. This has led to the growth of small-size electronics like loudspeakers, smartphones, computer hard drives, and several automotive electronic products and consumers.  With the rising population needs and the growing middle-class population, the demand for electronics is expected to grow in the long run, driving the market for neodymium and further boosting beneficial opportunities for the market's growth rate.

Restraints/ Challenges

As fluctuation in the price of raw materials which depends on the manufacturers to either absorb extra costs or rise the prices of the products. The demand for neodymium metals is dependent on the demand for its uses. Moreover, the demand for the applications is maximum dependent on the end-user industries. Hence, the neodymium metal has a double supply chain, which upsurges the final price demanded by manufacturers. So these are the major market that restrains the market and obstructs the market's growth rate.

This neodymium market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the neodymium market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Neodymium Market

The outbreak of COVID-19 virus has affected several countries around the globe with the World Health Organization announcing that it is public health emergency. The global impacts of the coronavirus disease are already starting to be felt, and will also considerably affect the Neodymium (Nd) market. The outbreak of COVID-19 has brought effects on several phases, such as travel bans and quarantines; flight cancellations; restaurants closed and all indoor events restricted due to this massive reducing of the supply chain of neodymium; growing panic, stock market volatility; falling business confidence, among the population, and uncertainty about future.

Recent Development

• In March 2021, Guangsheng which was the Chinese rare earth manufacturer has planned to build an industrial plant for NdFeB permanent magnetic material. This project is value USD 206 million and is probable to generate 8,000 tons per year.

Global Neodymium Market Scope

The neodymium market is segmented on the basis of products, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Products

• Neodymium Metal
• Neodymium Nitrate
• Neodymium Oxide

Application 

• Magnets
• Catalysts
• Ceramics and Glass
• Others

End User

• Automotive
• Electrical and Electronics
• Wind Energy
• Others

Neodymium Market Regional Analysis/Insights

The neodymium market is analysed and market size insights and trends are provided by country, products, application and end-user as referenced above.

The countries covered in the neodymium market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the neodymium market in terms of revenue and market share during the forecast period. This is due to the growing demand for neodymium in this region. The Asia-Pacific region leads the neodymium market, with China leading the way in terms of production of permanent magnets, increase in the installations of wind energy, growing electric vehicles industry, and large volume production of electronic products are some of the factors which promote the growth of the neodymium market in this region.

During the projected period, Asia-Pacific is anticipated to be the fastest developing region due to increase in consumption and production in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Neodymium Market Share Analysis

The neodymium market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to neodymium market.

Some of the major players operating in the neodymium market are:

• Lynas Rare Earth Ltd. (Australia)
• Arafura Resources. (Australia)
• Metall Rare Earth Limited (China)
• HEFA Rare Earth Canada Co. Ltd. (Canada)
• Alkane Resources Ltd (Australia)
• Neo Performance Materials Inc. (Canada)
• China Minmetals Rare Earth Co. Ltd. (China)
• Lenntech B.V (Netherlands)
• NSEROS KLAUS NONNENMACHER GmbH (Germany)
• Australian Strategic Materials Ltd. (Australia)
• American Elements (U.S)
• Noah Chemicals (U.S)
• Avalon Advanced Materials, Inc (Canada)
• Lotus Resources Limited (Australia)
• Canada Rare Earth Corporation (Canada)
• Rainbow Rare Earths Limited (Germany)
• Greenland Minerals Ltd (Australia)
• GanZhouQianDong Rare Earths Group Co., Ltd. (China)
• Alkane Resources Ltd (Australia)
• Infinium Metals. (U.S)

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