Neodymium Iron Boron Magnet Market Size, Share, Growth, and Industry Analysis, By Type (Bonded NdFeB, Sintered NdFeB) By Application (Consumer Electronics, General Industrial, Automotive, Medical Technology) Regional Forecast From 2025 To 2034

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NEODYMIUM IRON BORON MAGNET MARKET OVERVIEW

The global Neodymium Iron Boron Magnet Market size stood at USD 9.33 billion in 2025, growing further to USD 15.63 billion by 2034 at an estimated CAGR of 5.9% from 2025 to 2034.

The United States Neodymium Iron Boron Magnet Market size is projected at USD 2.80746 billion in 2025, the Europe Neodymium Iron Boron Magnet Market size is projected at USD 2.92036 billion in 2025, and the China Neodymium Iron Boron Magnet Market size is projected at USD 2.27751 billion in 2025.

The global COVID-19 pandemic has been unprecedented and staggering, with the neodymium iron boron magnet market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A neodymium iron boron magnet, also known as neodymium iron boron magnet or NIB magnet, is a type of rare earth magnet. It is made from an alloy of neodymium, iron, and boron and is known for its strength and high magnetic properties. neodymium iron boron magnets are the strongest type of permanent magnet available, with a maximum energy product of up to 52 MGOe (Mega Gauss Oersted), which is about 10 times stronger than ceramic magnets.

They have a high coercivity, which means they can maintain their magnetism even in high-temperature environments. neodymium iron boron magnets are used in many applications, including motors, generators, magnetic bearings, loudspeakers, MRI machines, and various types of sensors. However, they are also brittle and prone to corrosion, so they require special handling and protective coatings to prevent damage.

KEY FINDINGS

COVID-19 IMPACT

Pandemic Restrictions Hampered Market Demand.

COVID-19 had a life changing impact globally. The global neodymium iron boron magnet market share was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for neodymium iron boron magnet experienced an increased demand.

One of the main raw materials used in the production of neodymium iron boron magnets is rare earth elements, which are sourced primarily from COVID-19 hotspots. The pandemic led to disruptions in mining operations and transportation, causing a shortage of rare earth elements and increased prices. This, in turn, affected the production and supply of neodymium iron boron magnets.

Many neodymium iron boron magnets manufacturers were forced to close or reduce their production capacity due to lockdowns and restrictions on movement and gatherings, which affected the supply chain and availability of magnets. Nonetheless, the demand for neodymium iron boron magnets has remained strong, particularly in industries such as electric vehicles, wind turbines, and other renewable energy applications. The global neodymium iron boron magnet market size is expected to grow.

LATEST TRENDS

Improved Manufacturing Techniques to Benefit Market Prospects

Scientists have developed new manufacturing techniques that improve the consistency and quality of neodymium iron boron magnets, such as hot deformation and spark plasma sintering. Researchers have developed new techniques to increase the magnetic strength of neodymium iron boron magnets, such as using additives and changing the manufacturing process.

neodymium iron boron magnets rely on rare earth elements such as neodymium and dysprosium, which are expensive and environmentally damaging to extract. Researchers have developed new magnet formulations that reduce the reliance on these elements while maintaining magnetic strength. Scientists have developed new formulations that improve the temperature stability of neodymium iron boron magnets, making them more suitable for high-temperature applications. These latest developments are anticipated to benefit the global neodymium iron boron magnets market share.

• Sintered NdFeB magnets are identified as critical for decarbonization technologies; DOE supply-chain workstreams single out sintered NdFeB for mitigation action.

• China’s share of global rare-earth mine production was reported at about 69% in 2024, reinforcing regional concentration trends.

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NEODYMIUM IRON BORON MAGNET MARKET SEGMENTATION

By Type

Based on type, the market is divided into Bonded NdFeB, Sintered NdFeB, and Neodymium Iron Boron Magnet.

By Application

Based on application, the market is bifurcated into Consumer Electronics, General Industrial, Automotive, and Medical Technology.

DRIVING FACTORS

Increasing Demand to Boost Market Share

NdFeB magnets have become increasingly popular due to their high magnetic strength, making them ideal for use in a wide range of applications, from electric vehicles to wind turbines and medical equipment. Researchers are exploring alternative materials to NdFeB magnets, such as rare earth-free magnets, to reduce dependence on rare earth elements.

New Applications to Boost Market Size

Researchers are working on developing more efficient methods of producing NdFeB magnets, which will increase their performance while reducing production costs. NdFeB magnets are being used in new applications, such as magnetic refrigeration and spintronics. As NdFeB magnets contain rare earth elements, efforts are being made to recycle them to reduce waste and reliance on mining. These factors will drive the global neodymium iron boron magnets market share.

• Electric-vehicle adoption concentration: China represented ~60% of new electric-car registrations in 2023, pulling substantial volume demand for NdFeB magnets in traction motors.

• According to research: U.S. DOE and national labs have published targeted analyses and programs addressing NdFeB supply chain resilience—DOE supply-chain reports explicitly name NdFeB as a priority material for clean-energy transitions.

RESTRAINING FACTORS

Availability of Raw Materials to Hamper Market Share

Neodymium and boron are rare earth elements, and their mining and refining processes are complex and expensive. Any disruption in the supply chain could impact the availability of raw materials needed to manufacture neodymium iron boron magnets. The production of neodymium iron boron magnets generates a significant amount of waste, and the mining and refining of rare earth elements can also have adverse environmental impacts. These factors will hamper the global neodymium iron boron magnets market share.

• Supply concentration risk: reporting indicates China controls ~90% of rare-earth processing and ~94% of permanent-magnet production, increasing exposure to export controls. 

• Limited domestic mines: the U.S. had effectively one major operating rare-earth mine (Mountain Pass) referenced in reporting, highlighting near-term raw-material supply constraints outside China.

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NEODYMIUM IRON BORON MAGNET MARKET REGIONAL INSIGHTS

Asia-Pacific Dominates the Neodymium Iron Boron Magnet Market

APAC is the major shareholder for the global neodymium iron boron magnets market share. This is mainly due to the presence of major neodymium iron boron magnets manufacturers in this region, which have a strong manufacturing base and supply chain infrastructure. Additionally, the growing demand for neodymium iron boron magnets in industries such as automotive, electronics, and renewable energy in the region is also driving the growth of the market. North America is the second major shareholder for the global neodymium iron boron magnets market share.

KEY INDUSTRY PLAYERS

Key Players Focus on Partnerships to Gain a Competitive Advantage

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

• Standex Electronics: Operates as a diversified electronics/magnetics business with ~1,600+ employees and over 70 years of company history. 

• CMS (CMS Magnetics / CMS Magnetics, Inc.): Maintains two U.S. warehouse locations (Dallas, TX and Romulus, MI) to support fast delivery of magnetic products.

List of Top Neodymium Iron Boron Magnet Companies

• Standex Electronics
• CMS
• Electron Energy
• HME Elektronik GmbH
• Advanced Magnet Source Corp

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.