NdFeB Industry Status and Prospects Professional Market Research Report Standard Version Published on : 21 March 2022
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Report Studies • The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America). A neodymium magnet (also known as NdFeB, NIB or Neo magnet), the most widely used type of rareearth magnet, is a permanent magnet made from an alloy of neodymium, iron and boron to form the Nd2Fe14B tetragonal crystalline structure. Developed in 1982 by General Motors and Sumitomo Special Metals, neodymium magnets are the strongest type of permanent magnet commercially available. They have replaced other types of magnets in the many applications in modern products that require strong permanent magnets, such as motors in cordless tools, hard disk drives and magnetic fasteners.The technical barriers of NdFeB Permanent Magnets are relatively low, and the NdFeB Permanent Magnets market concentration degree is relatively higher. The manufacturing bases concentrated distribution in China and Japan; some of the key players dominating this market are Hitachi Metals Group, Shin-Etsu, TDK, VAC, Beijing Zhong Ke San Huan Hi-Tech, Yunsheng Company, and others. The key factors driving the growth of the aforementioned industry are wide application areas. ©All Rights Reserved, Stats market research
Market Value
• The global NdFeB market was valued at 563.64 Million USD in 2021 and will grow with a CAGR of 3.01% from 2021 to 2027, based on Research newly published report.
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