Neodymium Market (By Application: Magnets, Catalysts, Ceramics &Glass; By End-use: Automotive, Electrical & Electronics, Wind Energy) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Published Date : Nov 2021 | No. of Pages : 150+ Pages | Category : Chemical and Material

The global Neodymium market size is expected to be worth around US$ 6.40 billion by 2030, according to a new report by Vision Research Reports.

The global Neodymium market size was valued at US$ 3.25 billion in 2020 and is anticipated to grow at a CAGR of 5.8% during forecast period 2021 to 2030.

Neodymium Market Size 2021 to 2030

Report Coverage

Report Scope Details
Market Size US$ 6.40 Billion by 2030
Growth Rate CAGR of 5.8% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Application, End use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Arafura Resources Ltd.;Lynas Rare Earths Ltd.;Avalon;Rainbow Rare Earths Limited;METALL RARE EARTH LIMITED;Hefa Rare Earth; Greenland Minerals

Growth Factors

Neodymium-based magnets are used in a variety of consumer and automotive electronic products. The products such as air conditioning inverters, washing machines and dryers, refrigerators, laptops, computers, and various loudspeakers require permanent magnets for their functioning. The emerging middle-class population is likely to drive the demand for these products, thus benefiting the growth of the market.

The demand for magnets in various end-use industries such as green energy and automotive is projected to boost the market growth over the forecast period. Neodymium and its compounds are used in a variety of applications, among which neodymium-iron-boron (NdFeB) is the key product with the highest demand across several applications. NdFeB magnets have a high strength-to-weight ratio, which has reduced the sizes of electric motor systems for communication, computation, and small consumer products.

By Application Analysis

Magnets held the largest volume share of over 65.0% in 2020. Neodymium along with iron and boron makes a very strong permanent magnet. This has led to the development of small-size electronics such as smartphones, computer hard drives, loudspeakers, and various consumer and automotive electronic products.

NdFeB magnets also find applications in electric and hybrid vehicles. Global focus on electric vehicles owing to a rise in vehicle emissions is projected to benefit the market growth. 

The glass and ceramics application segment is projected to grow at a moderate pace over the forecast period. It acts as coloring and decoloring agents in glasses and with glass, it can produce colors such as warm grey, wine red, and violet. 

By End-use Analysis

The automotive segment dominated the market with a revenue share of over 56.0% in 2020 and is likely to maintain its position during the forecast period. Neodymium (Nd) magnets are widely used in automotive applications, such as energy transmission systems, vehicle multimedia systems, electronic control units, and automotive safety and information system. 

The rapid expansion of the electric vehicles market is anticipated to drive the neodymiumindustry on account ofthe rising demand for electric motors and automotive electronics.

The wind energy segment is projected to expand at the fastest revenue-based CAGR of 6.6% from 2021 to 2030. The increasing shift towards non-renewable energy and sustainable energy practices is anticipated to attract wind turbine demand, thus positively affecting the market growth

By Regional Analysis

Asia Pacific dominated the market with a revenue share of over 85.0% in 2020. The sheer volume and growth of Asia Pacific are mainly led by China. regions such as North America and Europe have started expanding their regional markets through government funding and programs. The European Commission has graded rare earth elements (REE) as the highest critical raw materials. 

Key Players

  •  Arafura Resources Ltd.

  • Lynas Rare Earths Ltd.

  • Avalon

  • Rainbow Rare Earths Limited


  • Hefa Rare Earth

  • Greenland Minerals 

Market Segmentation

  • By Application

    • Magnets

    • Catalysts

    • Ceramics &Glass

    • Others

  • By End-use

    • Automotive

    • Electrical & Electronics

    • Wind Energy

    • Others

  • Regional

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa (MEA)

      • South Africa

The Neodymium market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Neodymium market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Neodymium market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Neodymium market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Neodymium market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Neodymium capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Neodymium by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Neodymium market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Neodymium market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Neodymium market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Neodymium industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

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.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Neodymium market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Neodymium market. These factors have benefited the growth of the global market for Neodymium. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Neodymium. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Neodymium are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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