The Development Of The NdFeB Magnets Indystry

After entering the 21st century, The Sintered NdFeB Magnet industry has grown rapidly. Among them, China has become the world’s largest production base for sintered NdFeB magnets, bonded NdFeB magnets, and sintered SmCo magnets, accounting for more than 85% of the world’s total output.

Prior to that, most magnets were made of ferrite, which is a weaker type of magnet. With the development of neodymium magnets, industries have been able to create stronger and more compact devices.

Initially, rare earth neodymium magnets were quite expensive due to the high cost of raw materials, limited availability, and the difficulty of manufacturing them. However, as the industry developed and production techniques improved, the cost of neodymium magnets has decreased, making them more widely available and affordable.

The development of the sintered NdFeB industry can be divided into two stages. 1987-2002 was the first 15 years, with a high growth rate but a small volume. The average annual growth of finished products in China and the world was 590 tons and 1,030 tons respectively. 2002~2017 is the second stage, the growth rate has slowed down, but the volume has been enlarged. The average annual production growth in China and the world was 6,310 tons and 6,920 tons, respectively.

Today, the NdFeB magnet industry has developed numerous techniques for making neodymium magnets of various sizes, shapes, and strengths to meet the needs of different applications. Sintered NdFeB magnets have been widely used because of their high performance and low cost.

Thank you for reading our article and we hope it can help you to have a better understanding of the development of the NdFeB magnet industry.