Research and Markets has announced the addition of the “Global and Chinese NdFeB Industry Report, 2015-2018” report to their offering.
China is the world’s largest NdFeB producer with an output of 112 kt in 2014 (88.1 percent of the global total), up 19.0 percent year on year. In 2015, due to ceaseless decline in NdFeB price, China will produce 127 kt throughout the year, gaining by 13.5 percent from a year ago.
As the third-generation rare-earth permanent magnet material, NdFeB, an alloy of Pr-Nd metal and ferroboron, is featured with strong magnetic energy product, high coercive force, and high energy density. Being the best-value magnet, it enjoys the reputation of the King of Magnets.
Thanks to the booming NdFeB industry in China, global NdFeB output soared from 14 kt in 2000 to 127 kt in 2014 at a CAGR of 13.4 percent. As the Chinese government eliminated export quota for rare earths, global NdFeB output will continue to grow to 143 kt in 2015.
Nowadays, around 75 percent of NdFeB is used in traditional fields (electro-acoustic devices, magnetic separation, consumer electronics, etc.), while only 25 percent finds application in new fields (inverter air-conditioners, new energy vehicles, and energy-saving elevators). Compared with stable demand from traditional fields, the demand for NdFeB from new applications, especially new energy vehicles, increases significantly. According to the statistics, new energy vehicles’ consumption of NdFeB was 439 tons in China in 2014 when 79,000 new energy vehicles were manufactured, and is expected to further rise to 946 tons in 2015 when the country’s new energy vehicle output will witness a spectacular rise (to an estimated 178,000).
As downstream demand grows steadily and upstream raw material resources are abundant in China, the world’s major NdFeB companies have made their presence here and continued to expand capacity.
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