Development status and prospects of rare earth NdFeB materials in 2021

2021-01-28 5:58:37 No Comments www.rizinia.com News / Company News

High performance rare earth permanent magnet materials are widely used in low-carbon economic fields such as energy-saving and environmental protection manufacturing industry. As permanent magnet materials are widely used in low-carbon economic fields such as energy-saving and environmental protection manufacturing industry, countries all over the world invest heavily in low-carbon and energy-saving and environmental protection manufacturing industry and promote green products. Countries all over the world invest heavily in low-carbon and energy-saving and environmental protection manufacturing industry and promote green products consumption, so as to promote green products With the rapid development of emerging industries such as new energy vehicles, wind power generation robots and smart manufacturing, the demand for high-performance rare earth permanent magnet materials is expected to grow. With the rapid development of emerging industries, the demand for high-performance rare earth permanent magnet materials is expected to grow.

Nd-Fe-B is the main material of permanent magnet

Permanent magnetic materials, also known as hard magnetic materials, are characterized by high anisotropy field, high coercivity, large hysteresis loop area, and large magnetization field required for magnetization to saturation. After removing the external magnetic field, it can still maintain strong magnetism for a long time.

Permanent magnet materials work in the second quadrant demagnetization part of the hysteresis loop after deep magnetic saturation and magnetization. As an important basic magnetic functional material, it has a wide range of applications. China’s permanent magnet material industry plays an important role in the world. There are not only many enterprises engaged in production and application, but also research work has been in the ascendant.

According to industry practice, sintered Nd-Fe-B permanent magnet magnetic materials with the sum of intrinsic coercivity (kOe) and maximum magnetic energy product (mgoe) greater than 60 belong to high-performance Nd-Fe-B permanent magnetic materials. Coercivity, maximum magnetic energy product, remanence and maximum working temperature are the main parameters to measure the performance of permanent magnet materials. The first three indexes mainly measure the magnetic performance of materials. The higher the value is, the better the performance is. The working temperature measures the temperature resistance of magnets. According to the coercivity, sintered NdFeB magnetic materials can be divided into seven categories: bottom coercivity (n), medium coercivity (m), high coercivity (H), ultra-high coercivity (SH), ultra-high coercivity (Uh), very high coercivity (EH) and very high coercivity (th).

Magnetic property of sintered neodymium magnets

Grade	Remanence		Coercive Force		Intrinsic Coercive force		Max Energy Product		Max Working Temp.
	Br		Hcb		Hci		(BH) max		Max Working Temp.
	KG	T	KOe	KA/m	KOe	KA/m	MGOe	KJ/m	℃	°F
N35	11.4-11.8	1.18-1.28	≥ 10.8	≥ 836	≥ 12	≥ 955	33-36	263-287	80	176
N38	11.8-12.3	1.18-1.28	≥ 10.8	≥ 860	≥ 12	≥ 955	36-39	287-310	80	176
N40	12.7-12.9	1.27-1.29	≥ 11.0	≥ 876	≥ 12	≥ 955	38-41	303-326	80	176
N42	12.9-13.3	1.29-1.33	≥ 10.5	≥ 836	≥ 12	≥ 955	40-43	318-342	80	176
N45	13.3-13.8	1.33-1.38	≥ 9.5	≥ 756	≥ 12	≥ 955	43-46	342-366	80	176
N48	13.8-14.2	1.38-1.42	≥ 10.5	≥ 835	≥ 12	≥ 955	46-49	366-390	80	176
N50	13.8-14.5	1.38-1.45	≥ 10.5	≥ 835	≥ 11	≥ 955	47-51	374-406	80	176
N52	14.3-14.8	1.43-1.48	≥ 10.8	≥ 860	≥ 11	≥ 876	50-53	398-422	80	176
33M	11.4-11.8	1.14-1.18	≥ 10.3	≥ 820	≥ 14	≥ 1114	31-33	247-263	100	212
35M	11.8-12.3	1.18-1.23	≥ 10.8	≥ 860	≥ 14	≥ 1114	33-36	263-287	100	212
38M	12.3-12.7	1.23-1.27	≥ 11.0	≥ 876	≥ 14	≥ 1114	38-41	303-326	100	212
40M	12.7-12.9	1.27-1.29	≥ 11.4	≥ 907	≥ 14	≥ 1114	38-41	303-326	100	212
42M	12.8-13.2	1.28-1.32	≥ 11.6	≥ 923	≥ 14	≥1114	40-43	318-342	100	212
45M	13.2-13.8	1.32-1.38	≥ 11.8	≥ 939	≥ 14	≥ 1114	43-46	342-366	100	212
48M	13.6-14.0	1.36-1.40	≥ 11.8	≥ 939	≥ 14	≥ 1114	46-49	366-390	100	212
50M	14.0-14.5	1.40-1.45	≥ 13.0	≥ 1033	≥ 14	≥ 1114	48-51	382-406	100	212
30H	10.8-11.4	1.08-1.14	≥ 10.2	≥ 812	≥ 17	≥ 1353	28-31	223-247	120	248
33H	11.4-11.8	1.14-1.18	≥ 10.6	≥ 844	≥ 17	≥ 1353	31-33	247-263	120	248
35H	11.8-12.3	1.18-1.28	≥ 11.0	≥ 876	≥ 17	≥ 1353	33-36	263-287	120	248
38H	12.3-12.7	1.23-1.27	≥ 11.2	≥ 890	≥ 17	≥ 1353	36-39	287-310	120	248
40H	12.7-12.9	1.27-1.29	≥ 11.5	≥ 915	≥ 17	≥ 1353	38-41	303-326	120	248
42H	12.8-13.2	1.28-1.32	≥ 12.0	≥ 955	≥ 17	≥ 1353	40-43	318-342	120	248
45H	13.2-13.5	1.32-1.38	≥ 12.0	≥ 955	≥ 17	≥ 1353	42-46	335-366	120	248
46H	13.3-13.8	1.33-1.38	≥ 12.2	≥ 972	≥ 16	≥ 1274	44-47	350-374	120	248
48H	13.6-14.3	1.36-1.43	≥ 12.5	≥ 995	≥ 16	≥ 1274	46-49	366-390	120	248
30SH	10.8-11.4	1.081.14	≥ 10.0	≥ 796	≥ 20	≥ 1672	28-31	223-247	150	302
33SH	11.4-11.8	1.14-1.18	≥ 10.5	≥ 836	≥ 20	≥ 1672	31-34	247-276	150	302
35SH	11.8-12.3	1.18-1.23	≥ 11.0	≥ 876	≥ 20	≥ 1672	33-36	263-287	150	302
38SH	12.3-12.7	1.23-1.27	≥ 11.4	≥ 907	≥ 20	≥ 1972	36-39	287-310	150	302
40SH	12.5-12.8	1.25-1.28	≥ 11.8	≥ 939	≥ 20	≥ 1972	38-41	302-326	150	302
42SH	12.8-13.2	1.28-1.32	≥ 11.8	≥ 939	≥ 20	≥ 1672	40-43	320-343	150	302
45SH	13.2-13.8	1.32-1.38	≥ 12.6	≥ 1003	≥ 20	≥ 1592	43-46	342-366	150	302
30UH	10.8-11.4	1.08-1.14	≥ 10.2	≥ 812	≥ 25	≥ 1990	28-31	223-247	180	356
33UH	11.3-11.7	1.13-1.17	≥ 10.7	≥ 852	≥ 25	≥ 1990	31-33	247-263	180	356
35UH	11.7-12.1	1.17-1.21	≥ 10.7	≥ 852	≥ 25	≥ 1990	33-36	263-287	180	356
38UH	12.1-12.5	1.21-1.25	≥ 11.4	≥ 907	≥ 25	≥ 1990	36-39	287-310	180	356
40UH	12.5-12.8	1.25-1.28	≥ 11.4	≥ 907	≥ 25	≥ 1990	38-41	302-326	180	356
28EH	10.5-10.8	1.05-1.08	≥ 9.5	≥ 756	≥ 30	≥ 2388	26-29	207-231	200	392
30EH	10.8-11.4	1.08-1.14	≥ 9.5	≥ 756	≥ 30	≥ 2388	28-31	223-241	200	292
33EH	11.3-11.7	1.13-1.17	≥ 10.2	≥ 812	≥ 30	≥ 2388	31-33	247-263	200	392
35EH	11.7-12.1	1.17-1.21	≥ 10.2	≥ 812	≥ 30	≥ 2388	33-36	263-287	200	392
38EH	12.1-12.5	1.21-1.25	≥ 11.4	≥ 907	≥ 30	≥ 2388	36-39	287-310	200	392
30AH	10.8-11.3	1.08-1.13	≥ 10.2	≥ 812	≥ 35	≥ 2785	28-32	223-255	220	428
33AH	11.2-11.7	1.12-1.17	≥ 10.2	≥ 812	≥ 35	≥ 2785	31-34	247-271	220	428

The raw materials of NdFeB magnetic materials mainly include rare earth metals such as neodymium, praseodymium, neodymium and dysprosium iron, as well as pure iron and ferroboron alloy. Praseodymium, neodymium and other rare earth metals account for about 60% of the cost of raw materials. From the cost structure of NdFeB processing enterprises, raw materials account for 60-80%. The fluctuation of rare earth price will affect the profitability of upstream smelting separation enterprises and NdFeB production enterprises, but NdFeB enterprises are less affected by price fluctuation.

Figure 1: Cost structure of NdFeB raw materials

Permanent magnet materials are mainly divided into rare earth permanent magnet materials, financial permanent magnet materials, composite permanent magnet materials and ferrite permanent magnet materials. NdFeB under rare earth permanent magnet materials is a widely used and rapidly developing magnet product. It is only 20 years since the invention of NdFeB. Because of its high magnetic properties and easy processing, the price is not very high, so the application field expands rapidly. At present, the magnetic energy product of commercial NdFeB can reach 50 mgoe, which is 10 times of that of ferrite. Nd-Fe-B also belongs to powder metallurgy products, and its processing method is similar to samarium cobalt.

Table 1: classification of permanent magnet materials

Permanent magnet material	Rare earth permanent magnetic materials	NdFeB permanent magnet	Sintered NdFeB
			Bonded NdFeB
			Hot pressed NdFeB
		Samarium cobalt permanent magnet
		Iron nitride permanent magnet
	Metal permanent magnetic materials	AlNiCo alloy
		FeCrCo alloy
	Composite permanent magnet material
	Ferrite permanent magnet materials

Rare earth permanent magnetic materials are the third generation of permanent magnetic materials developed after metal system and ferrite system. Rare earth permanent magnetic materials have been developing rapidly since they came out in the 1960s. According to the time sequence of their development and application, they can be divided into four generations: the first generation is SmCo5 series; the second generation is Sm2Co17 series; and the third generation is NdFeB series, which was successfully developed in the early 1980s. Because of its excellent performance and low price, they are rapidly used in many fields The fourth generation is rare earth iron nitrogen and rare earth iron carbon. According to the estimation of experts in the industry, it will take at least several decades for the fourth generation of rare earth permanent magnet materials, which are expected to be mature and practical.

Table 2: development process of rare earth permanent magnet materials

The first generation	SmCo5	They are all cobalt based permanent magnet alloys, but due to the high cost of raw materials, limited by resources and prices, they are mainly used in high-end fields.
The second generation	Sm2Co17
The third generation	NdFeB	In 1983, it was discovered by Japan and the United States at the same time. It is called the third generation permanent magnet material. It is composed of a large number of neodymium, iron and boron, of which neodymium accounts for 25% – 35%.
The fourth generation	Rare earth iron nitrogen (Re-Fe-N series) and rare earth iron carbon (Re-Fe-C series)	At present, the fourth generation Fe-N (c) permanent magnet is still in the research and development stage. Among the existing three generations of rare earth permanent magnet materials, NdFeB has the characteristics of small volume, light weight, strong magnetism and so on. Due to the advantages of easy access to raw materials and low price, it develops very rapidly.

According to the different manufacturing process, NdFeB permanent magnet materials can be divided into sintering, bonding and hot pressing. They have their own characteristics in performance and application. The overlapping range of downstream application fields is relatively small. They play a complementary role rather than a substitute or crowding role.

Table 3: comparison of rare earth NdFeB materials

Type	Advantage	Production technology	Application
Sintered NdFeB	High magnetic energy product, high coercivity and high working temperature	Powder metallurgy process is adopted. The melted powder is made into powder and pressed into compact in magnetic field. The compact is sintered in inert gas or vacuum	Automotive industry, industrial motor, consumer electronics, clean energy, aviation clean energy, aerospace and other fields
Bonded NdFeB	The technology is simple, the cost is low, the volume is small, the precision is high, and the magnetic field is uniform and stable	The magnetic plastic material is made by mixing plastic material binder and NdFeB permanent magnetic powder powder powder, and then it is made by molding process of various plastic materials	Office automation equipment, electrical installation machinery, audio-visual equipment, instrumentation and small motors and other fields
Hot pressed NdFeB	High density, high orientation, good corrosion resistance, high coercivity and near final molding	The magnet with high magnetic properties is made by hot extrusion and hot deformation	–

Table 4: Nd-Fe-B has outstanding performance advantages in permanent magnet materials

–	AlNiCo	Ferrite	Samarium cobalt permanent magnet	NdFeB
Maximum magnetic energy product (MGOe)	0.38-1.53	1.76-4.21	15-21	11-40
Intrinsic coercivity (kOe)	1.4-13.2	0.17-5.2	24-33	33-50
Remanence (T)	0.58-1.35	0.32-0.43	0.8-1.2	1.17-1.48
Processing difficulty	Easy to shape, less difficult to machine	Difficult to form, difficult to machine	Machining is difficult	Easy to shape, less difficult to machine
Advantage	The best temperature and time stability, high corrosion resistance	Abundant resources and low price	High working temperature, strong corrosion resistance, excellent magnetic properties	High magnetic energy product, good mechanical properties, cutting and drilling
Disadvantage	Low cost performance	Poor magnetic properties, poor temperature stability	Low cost performance	Poor temperature stability, low chemical stability
Application field	Instrument, electric energy meter	Fan motors for large-volume speakers, toys, and home appliances	Military and Aerospace	VCM, various permanent magnet motors, automotive EPS, MRI

China takes advantage of rare earth NdFeB permanent magnet materials

China is the largest producer of rare earth minerals, accounting for 62.9% of the total rare earth mineral products in 2020, followed by the United States and Australia, accounting for 12.4% and 10% respectively.
Thanks to rare earth reserves, China has become the world’s largest production base and export base of rare earth permanent magnet materials. According to the statistics of China Rare Earth Industry Association, in 2018, China produced 138000 tons of neodymium iron boron magnetic materials, accounting for 87% of the world’s total output, nearly 10 times that of Japan, the second largest in the world.

Rare earth NdFeB materials are widely used in the world

From the perspective of application fields, low-end NdFeB is mainly used in magnetic adsorption, magnetic separation, electric bicycle, luggage buckle, door buckle, toys and other fields, while high-performance NdFeB is mainly used in various types of motor and magnetic steel of loudspeaker in the field of high-tech barriers, including energy-saving motor, automobile motor, wind power generation, advanced audio-visual equipment, elevator motor, etc.

Figure 2: distribution of global NdFeB downstream consumption in 2020 (unit:%)

China’s new energy vehicle production and sales remain strong. In 2020, my country’s new energy vehicle production and sales will be 1.4 million units, down 2.3% and 4.0% year-on-year, respectively. It is expected that in 2021/2022, it will exceed 2/2.74 million units. In the future, China’s new energy vehicle production will maintain a growth rate of about 40%. , It is predicted that China’s new energy vehicle output will reach 5.74 million in 2025. Based on the consumption of 5 kilograms of NdFeB per new energy vehicle, China’s new energy vehicles will drive 10,000/13700 tons of NdFeB permanent magnet materials in 2021/2022 consumption.
EPS penetration rate of traditional automobile market continues to increase. EPS is one of the main applications of rare earth in the world, and the increase of its permeability will significantly promote the consumption of NdFeB. In 2009, China sold 13.64 million vehicles, surpassing 10.43 million vehicles in the United States, becoming the largest automobile consumer market in the world for the first time, accounting for 21% of global automobile sales. Since 2009, China has been the largest automobile consumer market in the world. In 2019, China’s global car sales accounted for about 28%, 9 PCT higher than that of the United States. It is predicted that China’s automobile sales will reach 35 million in 2025. Assuming that the EPS penetration rate is 35% in 2017, the EPS penetration rate will increase by 3% every year in the future. Each set of EPS needs to use 0.25 kg of NdFeB. It is estimated that the vehicle output will be 2712 / 2854 / 30.03 million vehicles in 2020-2022, and the demand for NdFeB of EPS system will be 2983 / 3353 / 3754 tons respectively.
The penetration rate of variable frequency air conditioning continues to increase, driving the consumption of NdFeB. In 2019, the sales volume of China’s variable frequency air conditioners is 68.038 million units. According to the amount of NdFeB required for each variable frequency air conditioner is 0.1 kg, about 68.00 tons of NdFeB will be consumed in the production of variable frequency air conditioners in 2019. In 2013-2019, the CAGR of variable frequency air conditioning production is 11.4%, and its proportion in the total air conditioning production is increased from 31.9% in 2013 to 45.2% in 2019. It is estimated that the CAGR of the national variable frequency air conditioning production will be maintained at about 13% in 2019-2022, the national variable frequency air conditioning production will reach 7688 / 8687 / 9817 million units in 2020 / 2021 / 2022, and the demand of NdFeB brought by the national variable frequency air conditioning production will reach 7688 / 8687 / 9817 tons in 2020 / 2021 / 2022.
The development of energy-saving elevator drives the demand of NdFeB permanent magnet materials. Each traction elevator consumes 6kg of NdFeB. In 2020, China’s energy-saving elevator consumed 5315 tons of NdFeB. With the further development of energy-saving elevator, the demand for NdFeB permanent magnet materials will increase. Assuming that the annual output of energy-saving elevators increases by about 10%, it is estimated that the consumption of magnetic materials of energy-saving elevators in China will reach 5846 tons respectively in 2021.
Industrial robots are expected to generate 9199 tons of NdFeB demand in 2022. From 2015 to 2019, the annual output of industrial robots in China will rise sharply from 32996 sets to 186943.4 sets, with CAGR of 54.3%. The output of industrial robots in China will double from 2018 to 2020, and the output of industrial robots in China may exceed 250000 in 2020. It is estimated that the CAGR of industrial robot production will be 35% in 2020-2022, and the industrial robot production in China will reach 252374 / 340704 / 459951 sets in 2020 / 2021 / 2022 respectively, and the corresponding NdFeB consumption will reach 5047 / 6814 / 9199 tons.

Figure 3: Long term forecast of global new energy vehicle (passenger vehicle) sales (unit: million)

Figure 4: Demand of new energy vehicles for NdFeB in 2020-2021 Unit: ton

Figure 5: Sales forecast of new energy vehicles in China/unit: 10000 vehicles

Table 5: high performance NdFeB is widely used and there is no substitute material at present

Main areas	Main applications	Advantage
New energy vehicles	Permanent magnet drive motor	Small size, fast response, high efficiency and energy saving, with higher driving power
Traditional car	EPS core components	It can provide the best assistance under various driving conditions, improve the steering characteristics of the vehicle, and improve the steering stability and safety
Wind power generation	Permanent magnet direct drive fan	Full power converter technology is adopted, with strong reactive power compensation and low voltage ride through capability, less impact on power grid, and 5% – 10% higher generation efficiency than average
Energy saving elevator	Permanent magnet synchronous traction machine	The transmission efficiency is 20% – 30% higher than that of the traditional asynchronous traction machine, and the overall energy consumption is 45% – 60% lower than that of the traditional asynchronous traction machine
Inverter air conditioner	Variable frequency air conditioning compressor	Compared with constant frequency air conditioning, it can save more than 30% energy, and its service life can reach 12-15 years
Energy saving oil	Linear motor pumping unit	High efficiency, easy operation, simple mechanism, low starting current, high stability, energy saving up to 45%

Table 6: global demand for high performance NdFeB

–	–	2016	2017	2018	2019E	2020E
New energy vehicles (each pure electric vehicle consumes 5kg of NdFeB, and each hybrid vehicle consumes 2kg)	Domestic production of new energy vehicles (10000 units)	51.60	79.40	127.05	165.17	206.46
	Domestic pure electric vehicle output (10000 units)	41.70	66.60	98.56	132.13	165.17
	Domestic production of plug-in hybrid electric vehicles (10000 units)	9.90	12.80	28.33	33.03	41.29
	Overseas production of new energy vehicles (10000 units)	39.45	54.31	63.10	72.57	83.45
	Overseas pure electric vehicle output (10000 units)	31.56	43.45	50.48	58.05	66.76
	Overseas production of plug-in hybrid electric vehicles (10000 units)	7.89	10.86	12.62	14.51	16.69
	Consumption of NdFeB magnetic materials for new energy vehicles (tons)	4018.80	5975.64	8271.00	10460.12	12755.86
Traditional vehicle (0.25kg NdFeB per EPS)	Domestic automobile output (10000 units)	2811.88	2901.54	2780.92	2864.35	2950.28
	EPS permeability	30%	35%	40%	45%	50%
	Domestic EPS usage (10000 sets)	843.56	1015.54	1112.37	1288.96	1475.14
	Overseas automobile output (10000 units)	6685.78	6828.71	6782.54	6986.02	7195.60
	EPS permeability	35%	40%	45%	48%	50%
	Overseas EPS usage (10000 sets)	2340.02	2731.48	3052.14	3353.29	3597.80
	Traditional automobile EPS consumes NdFeB magnetic material (ton)	7958.97	9367.56	10411.28	11605.61	12682.34
Variable frequency air conditioner (each variable frequency air conditioner consumes 120g NdFeB)	Domestic variable frequency air conditioning output (10000 sets)	3945.50	5918.50	6332.80	7599.36	9271.22
	NdFeB permeability	45%	48%	52%	55%	58%
	Overseas variable frequency air conditioning output (10000 units)	1698.21	1715.19	1732.34	1818.96	1909.90
	NdFeB permeability	45%	48%	52%	55%	58%
	Consumption of Nd-Fe-B magnetic material for variable frequency air conditioning (ton)	3047.60	4397.01	5032.65	6216.09	7782.06
Wind power generation (0.8 tons of NdFeB per MW direct drive permanent magnet wind turbine)	New installed capacity of domestic wind power (MW)	23370	19660	21138	23251.8	25576.98
	Permeability of permanent magnet direct drive fan	24%	26%	28%	32%	35%
	New installed capacity of overseas wind power (MW)	31229	32184	34436.88	36847.46	39426.78
	Permeability of permanent magnet direct drive fan	20%	22%	24%	28%	32%
	NdFeB magnetic material consumed by wind power (ton)	9483.68	9753.66	11346.79	14206.29	17254.81
Energy saving elevator (each energy saving elevator consumes 6kg NdFeB)	Domestic energy saving elevator output (10000 sets)	62.76	67.78	79.98	94.38	103.81
	Elevator ownership (10000 sets)	493.69	562.7	627.83	690.61	759.67
	Number of energy saving elevators (10000 sets)	9.87	11.25	12.56	13.81	15.19
	Overseas energy saving elevator output (10000 sets)	26.9	29.05	32.54	38.39	45.3
	Overseas elevator ownership (10000 sets)	1645.63	1678.55	1728.91	1780.77	1834.2
	Number of energy saving elevators transformed overseas (10000 sets)	32.91	33.57	34.58	35.62	36.68
	Energy saving elevator consumes NdFeB magnetic material (ton)	7946.78	8499.3	9579.07	10931.83	12059.71
Robot (each robot consumes 25kg NdFeB)	Domestic production of industrial robots	72426	131079	147682	162450.2	178695.2
	Domestic service robot output (set)	684	8208	9849	10341.45	10858.52
	Output of overseas industrial robots	181322	194015	207596	224203.7	242140
	Output of overseas service robots	22208	26650	31980	34538.4	37301.47
	NdFeB magnet consumed by robot (ton)	6916	8998.8	9927.68	10788.34	11724.88
	Global demand for NdFeB magnets (tons)	39371.83	46991.97	54568.46	64208.28	74259.67

China’s rare earth Nd-Fe-B materials are rising steadily, concentrated in Zhejiang

Since 2000, China has become the world’s largest producer of rare earth NdFeB permanent magnet materials. With the development of downstream applications, the output of NdFeB permanent magnet materials in China has been growing rapidly. During the 11 years from 2010 to 2020, the output of NdFeB permanent magnet materials in China has increased by 118%, with an average annual compound growth rate of 9.06%.

According to the data of China Rare Earth Industry Association in 2019, the output of sintered NdFeB blanks was 170000 tons, accounting for 94.3% of the total output of NdFeB magnetic materials in that year, bonded NdFeB accounted for 4.4%, and other total output accounted for only 1.3%. The data show that sintered NdFeB is the most widely used NdFeB material with the largest output.

Figure 6: Classification of NdFeB permanent magnet materials in China in 2020 (unit:%)
China’s NdFeB production capacity is mainly concentrated in Zhejiang, Shanxi, Shandong, Inner Mongolia and other places. Among them, Zhejiang has the advantage of industrial concentration, numerous enterprises and comprehensive development of industrial chain, with an annual capacity of 115600 tons, accounting for 38.7% of the total domestic capacity.

Output expected to continue to rise

It can be seen from the previous analysis that the global downstream consumption of NdFeB is distributed in the motor industry, public transportation and railway, intelligent robots, wind power generation and new energy vehicles. The growth rate of the above industries in the next five years will all exceed 10%, which will lead to the increase of NdFeB production in China. Although ferrite is the main component of permanent magnet materials at the present stage, the price and functional advantages of rare earth NdFeB are deeply remembered. It is predicted that the output of NdFeB in China will keep a growth rate of 6% in the next five years, and will exceed 260000 tons by 2025.

Source: China Permanent Magnet Manufacturer – www.rizinia.com

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