Neodymium Market Size – USD 550.8 Million in 2021, Growth – at a CAGR of 4.3%, Trends – Rising demand for green energy technology

 

Rising demand for electrical & electronic products are key factors driving market revenue growth

The global Neodymium Market size was USD 550.8 Million in 2021 and is expected to register a revenue CAGR of 4.3% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is expected to be driven by rising demand for neodymium from the healthcare sector.

Neodymium magnets are used in medical equipment in the healthcare industry as well because of their capacity to produce a static magnetic field. In order to diagnose and cure conditions including sleeplessness, rheumatoid arthritis, headaches, and a number of other illnesses, they are utilized in magnetic resonance imaging machines. Neodymium magnets are used by National Aeronautics and Space Administration (NASA) to keep astronauts' muscles toned while they are in space. Magnets made of neodymium exhibit push-pull forces. They serve as motion-generating tools in palatal expansion, molar distillation, and orthodontic procedures.

Get a sample of the report: https://www.reportsanddata.com/sample-enquiry-form/5019

Top Companies: Lynas Rare Earths Ltd, Arafura Resources, Metall Rare Earth Limited, HEFA Rare Earth Canada Co. Ltd., Alkane Resources Ltd, NEO, Greenland Minerals Ltd., Rainbow Rare Earths Limited, Australian Strategic Materials Ltd., and Avalon Advanced Materials Inc.

Further Key Finding from the Report Suggestion:

·         Magnets segment is expected to account for the largest revenue share over the forecast period. Neodymium, iron, and boron combine to form a very powerful permanent magnet. This has resulted in the creation of small-size electronics like smartphones, loudspeakers, computer hard drives, and many consumer and vehicle electrical items. The demand for electronics is expected to increase due to rising middle-class populations and rising demands of the growing population, which is expected to drive the revenue growth of the neodymium market.

·         The automotive segment is expected to register a rapid revenue growth rate over the forecast period. Neodymium magnets are vital components in automotive electronic technology, which are widely utilized in automotive applications such as automobile safety and information systems, electronic control units, vehicle multimedia systems, energy transmission systems, and others. Neodymium magnets, soft magnetic ferrite, and metal soft magnetic materials are the major materials utilized to make the magnetic components for vehicle electronic technology.

·         The neodymium oxide segment accounted for the largest revenue share in 2021. Neodymium oxide is a highly insoluble, thermally stable neodymium source appropriate for ceramic, glass, and optical applications. Dielectrics, glass coloring and tinting, and lasers are some of the main uses. Neodymium oxide is produced by the air combustion of neodymium hydroxide or neodymium nitride. Each year, neodymium oxide is generated over 7,000 metric tonnes worldwide. Neodymium oxide is available in tablets, pellets, bits, sputtering targets, and nanopowder.

·         Market in Asia Pacific is expected to register the largest revenue share over the forecast period. According to the U.S. Geological Survey, 80% of rare earth imports in 2019 came from China. 110,000 tonnes of rare earth were produced in Chinese mines in 2020, accounting for more than 55% of all mining output worldwide. The manufacture of permanent magnets, the growing market for electric vehicles, an increase in wind energy installations, and the mass production of electronic goods are a few of the elements that support the revenue growth of the neodymium market in China.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

Download Summary: https://www.reportsanddata.com/download-summary-form/5019

The global Neodymium Market is segmented into:

Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)

·         Magnets

o    Sintered Magnets

o    Bonded Magnets

·         Catalysts

·         Glass

·         Ceramics

·         Lasers

·         Others

End-Use Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)

·         Automotive

·         Electrical & Electronics

·         Wind Energy

·         Healthcare

·         Others

Product Outlook (Revenue, USD Million; Volume, Kilo Tons; 2019-2030)

·         Neodymium Metal

·         Neodymium Nitrate

·         Neodymium Oxide

Regional Outlook:

·         North America (U.S.A., Canada, Mexico)

·         Europe (Italy, U.K., Germany, France, Rest of Europe)

·         Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)

·         Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

·         Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market?
  • What kind of strategic business plans have they made?

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/5019

Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.

Browse More Reports:

Impregnating Resins Market https://www.reportsanddata.com/report-detail/impregnating-resins-market

Nucleotide Market https://www.reportsanddata.com/report-detail/nucleotide-market

Plastic Fasteners Market https://www.reportsanddata.com/report-detail/plastic-fasteners-market

Liquid Filtration Market https://www.reportsanddata.com/report-detail/liquid-filtration-market

Methionine Market https://www.reportsanddata.com/report-detail/methionine-market

About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W

Head of Business Development

Reports And Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

LinkedIn | Twitter | Blogs | Insights

Read the innovative blog at https://www.reportsanddata.com/blogs

Check out our upcoming research report at https://www.reportsanddata.com/upcoming-reports


Comments

Post a Comment

Popular posts from this blog

Commercial Windows Market Growth Factors, Applications, Regional Analysis and Trend Forecast 2032

  rapid expansion in the global building sector is another factor driving market revenue growth. The global Commercial Windows Market size was USD 3.33 Billion in 2022 and is expected to reach USD 4.54 Billion in 2032, and register a rapid revenue CAGR of 3.5 % during the forecast period. Rapid expansion in the global construction sector, increasing awareness about advantages of natural light and ventilation, and rising demand for energy-efficient and sustainable building solutions are major factors driving market revenue growth. There is an increasing need for Energy-Efficient Windows that can assist lower energy expenses and carbon emissions due to increasing worries about environmental deterioration and energy usage. Demand for sustainable building solutions, particularly commercial windows, is rising by increasing emphasis on Green Building certification schemes such as Leadership in Energy and Environmental Design (LEED) and Building Research Establish...
Read more

Atomized Ferrosilicon Market 2028: Analysis of Key Trends, Drivers, and Opportunities Across Regions

  increasing demand for atomized ferrosilicon in the Asia-Pacific region, particularly in China and India The Atomized Ferrosilicon Market showed a significant robustness in 2020 and is expected to maintain a steady revenue CAGR over the forecast period, driven by increasing demand for building and sealing materials, welding materials, and growing infrastructure requirements worldwide. Ferrosilicon, an iron-silicon alloy, has a wide range of applications in the building, manufacturing, and architecture sectors. Although, heavy media losses in practical operation are restraining the market growth. Metallurgy processing is the largest segment of the global Atomized Ferrosilicon Market, and Asia Pacific is the largest revenue-generating region. The market has a few competitors or participants, which is an opportunity for start-ups if they offer superior and more evolved products. The report provides historical data points and forecasts for revenue growth at a global, regional, and ...
Read more

Growing need for eco-friendly packaging materials in the packaging sector, as well as a strong sense of demand for abaca fiber in the textile industry.

  The global  Abaca Fiber Market  size was USD 556.64 Million in 2022 and is expected to register a revenue CAGR of 15% over the forecast period, according to the latest report by Reports and Data. The demand for abaca fiber in the packaging sector is on the rise due to the increasing need for eco-friendly packaging materials. Abaca fiber is a biodegradable, compostable, and renewable alternative to plastic and other non-biodegradable materials, making it an excellent option for creating bags, containers, and other packaging materials. As the focus on sustainability continues to grow, abaca fiber is becoming an increasingly popular choice for those seeking environmentally-friendly packaging solutions. Get a sample of the report: https://www.reportsanddata.com/sample-enquiry-form/5963 Top Lading Players: Catanduanes Fibers Estate Corporation, KenDor Textiles, Syncot Plc, Raffia Tapes & Labels Pvt. Ltd., Suzano S.A., International Fibers Group, Yusen Associates...
Read more