The neodymium market is segmented by application (magnets, catalysts, glass and ceramics, and other applications), end-user industry (automotive, electrical and electronic, wind energy, and other end-user industries), and geography (Asia-Pacific, North America, Europe, South America, the Middle East, and Africa). The report offers market size and forecasts for neodymium in revenue (USD million) for all the above segments.

Neodymium increased 65,000 CNY/T or 13.08% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Neodymium - values, historical data, forecasts and news - updated on March of 2025.

Explore the Neodymium Global Market Report 2025 Market trends! Covers key players, growth rate 7.7% CAGR, market size $5.06 Billion, and forecasts to 2033. Get insights now!

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Neodymium Market Size 2024-2028

The neodymium market size is forecast to increase by USD 1.51 billion at a CAGR of 8.09% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. The increasing focus on renewable energy is driving the demand for neodymium magnets, which are essential components in wind turbines and electric vehicles. Key trend shaping the market is the rising demand for electric vehicles, driven by both government policies and consumer preferences for sustainable transportation.
Additionally, stricter regulations on neodymium magnets, particularly in the automotive sector, are contributing to market expansion by ensuring their safe and efficient use. These factors are strengthening market confidence and accelerating demand. Looking ahead, the market is set for steady growth, propelled by these trends and the growing emphasis on sustainable energy solutions.

What will be the Neodymium Market Size During the Forecast Period?

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The market, primarily driven by the demand for Neodymium Ferrous Boron (NdFeB) magnets, has experienced significant growth in recent years. NdFeB magnets, a type of permanent magnet made from neodymium, iron, and boron, are essential components in various industries, including electric vehicles (EVs) and wind energy. In the EV sector, Neodymium is used in brushless DC motors, while in wind energy, it is utilized in generators and wind turbine components. Rare earth elements, including neodymium oxide, are indispensable in the production of NdFeB magnets. The electric vehicle industry and wind energy-related applications account for a substantial portion of the market.
Notable applications include Neodymium-Iron-Boron magnets in EV traction motors, hard disk drives, robotics, wearable devices, and offshore wind farms, such as the Macintyre Wind Farm in Queensland. As the world transitions toward carbon-neutral energy sources, the demand for Neodymium is expected to increase further. Neodymium is also used in permanent magnets for DC motors and wind power generators. Companies like General Motors are investing heavily in Neodymium-based technologies for their EVs. Overall, the market is poised for continued growth, driven by the increasing adoption of alternative energy sources and the expanding electric vehicle industry

How is this Neodymium Industry segmented and which is the largest segment?

The neodymium industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Metal
  Compound


Application

  Automotive
  Electrical and electronics
  Wind energy
  Others


Geography

  APAC

    China
    Japan
    South Korea


  North America

    US


  Europe

    Germany


  South America



  Middle East and Africa

By Type Insights

The metal segment is estimated to witness significant growth during the forecast period.

The market encompasses the utilization of neodymium in its metallic form, primarily for the production of neodymium-iron-boron magnets. These magnets offer strong magnetic fields and are indispensable in various industries and applications. Neodymium magnets are significantly employed In the automotive sector, particularly in electric and hybrid vehicles. The escalating demand for electric vehicles, especially in emerging economies like China, is projected to surge due to the global shift towards sustainable transportation. According to the International Energy Agency (IEA), approximately 8.1 million new electric cars were registered in 2023, representing a 35% increase from 2022. This trend is anticipated to boost the demand for neodymium magnets, which are essential components in the manufacturing of electric motors for wind energy-related applications, including onshore projects like the MacIntyre Wind Farm in Queensland and offshore wind farms. The transition towards carbon-neutral energy sources is further expected to fuel the market growth during the forecast period.

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The Metal segment was valued at USD 1.74 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 87% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in Asia Pacific (APAC) is experiencing significant growth due to the increasing demand for high-performance magnets in various industries, including automotive, electronics, energy, and he

Neodymium Magnet Market size was valued at USD 3.09 Billion in 2024 and is projected to reach USD 4.34 Billion by 2031, growing at a CAGR of 4.78% from 2024 to 2031.

Global Neodymium Magnet Market Drivers

Rising Demand in Consumer Electronics: Neodymium magnets, with their superior strength-to-weight ratio, are the preferred choice for various consumer electronics like smartphones, laptops, hard drives, and speakers. This ongoing demand from the consumer electronics industry is a major driver for the Neodymium Magnet Market.

Growth of the Electric Vehicle (EV) Industry: The permanent magnets used in electric vehicle motors are often Neodymium-Iron-Boron (NdFeB) magnets. As the EV industry experiences explosive growth due to environmental concerns and government initiatives, the demand for Neodymium magnets is expected to rise significantly.

Expansion of Wind Energy Applications: Wind turbines utilize Neodymium magnets in their generators to convert wind energy into electricity. The increasing focus on renewable energy sources and the expansion of wind farms worldwide are driving the demand for Neodymium magnets in this sector.

Focus on Miniaturization and Performance: Modern electronic devices prioritize miniaturization while maintaining high performance. Neodymium magnets’ compact size and superior strength make them ideal for these applications, contributing to market growth.

Technological Advancements and Efficiency Improvements: Research and development in the field of Neodymium magnets are leading to the creation of even stronger and more efficient magnets with lower production costs. These advancements are making Neodymium magnets a more attractive option for various applications.

Growing Automation and Robotics: The increasing automation of manufacturing processes and the development of robots utilize Neodymium magnets in their motors and actuators. The expansion of automation and robotics is a potential growth driver for the Neodymium Magnet Market.

Medical Equipment Applications: Neodymium magnets are finding use in various medical equipment due to their compact size and strong magnetic fields. Applications include MRI machines, hearing aids, and surgical instruments, creating additional market demand.

Supply Chain Concerns and Geopolitical Tensions: China is a dominant player in the production of rare earth elements, including Neodymium. Geopolitical tensions and concerns about supply chain disruptions can influence market dynamics and potentially drive prices higher.

Focus on Sustainable Practices and Recycling: There’s a growing focus on sustainable practices in the Neodymium magnet industry. Recycling existing magnets and exploring alternative rare earth elements are crucial aspects for long-term market stability and environmental responsibility.

The size of the Neodymium Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 15.00% during the forecast period. Neodymium is a chemical element and reactive lanthanides. It is a group of similar metallic elements numbered 57-71 on periodic table. Neodymium is often used in metallurgy industry with alloys to manufacturing of very strong permanent magnets. The swift growth of the electric vehicle market has greatly increased the demand for neodymium magnets, which are crucial for creating lightweight, high-efficiency motors that enhance power output in electric vehicles. In addition to their role in the automotive industry, neodymium magnets are vital components in a variety of electronic devices, such as smartphones, headphones, and hard drives. Consequently, the robust expansion of the consumer electronics sector is anticipated to further elevate demand for neodymium, as manufacturers strive to utilize high-performance materials to satisfy escalating technological and efficiency requirements. Recent developments include: February 2023: MP Materials and Sumitomo Corporation entered into an agreement to diversify and strengthen rare earth supplies in Japan. Under the agreement, Sumitomo Corporation becomes the exclusive distributor of neodymium and praseodymium (NdPr) oxide produced by MP Materials., November 2022: Arafura Resources Limited signed a supply deal with South Korea's Hyundai Motor Co. and its unit Kia Corp. to supply up to 1,500 metric tons of neodymium-praseodymium (NdPr) oxide per year. Under the agreement, the company will supply contract quantities of NdPr oxide over seven years., August 2022: Australia's Lynas Rare Earths Ltd. expanded capacity at its Western Australia-based Mt Weld mine, which has deposits of neodymium (Nd) and praseodymium (Pr). The company anticipated expansion work to begin by early 2023, with full operation planned for 2024., July 2022: Arafura Resources Limited and GE Renewable Energy signed a non-binding memorandum of understanding (MoU) to jointly cooperate in the establishment of a sustainable supply chain for neodymium and praseodymium (NdPr), which is central to the energy transition.. Key drivers for this market are: Rising Demand for Neodymium Magnets from Wind Energy and Electric Vehicle Industries, Other Drivers. Potential restraints include: Availability of Less-Expensive Substitutes, Other Restraints. Notable trends are: Automotive Segment to Dominate the Market.

The price of the rare earth oxide neodymium oxide was 49,763 U.S. dollars per metric ton in 2020. By 2030, the price of neodymium oxide is expected to increase to 45,500 U.S. dollars per metric ton.

The neodymium (Nd) market is experiencing robust growth, driven by the increasing demand for permanent magnets in electric vehicles (EVs), wind turbines, and other clean energy technologies. The market size in 2025 is estimated at $2.5 billion USD, exhibiting a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033. This sustained growth is projected to push the market value to approximately $4.5 billion USD by 2033. Key drivers include the global push towards renewable energy, the proliferation of EVs, and advancements in magnet technology leading to higher performance and efficiency. Strong growth is expected in segments like neodymium magnets, which dominate the application landscape, followed by catalysts and laser crystals. While challenges remain, such as price volatility of rare earth elements and geopolitical risks associated with their sourcing, the overall market outlook remains positive, fueled by ongoing technological advancements and increasing environmental concerns. The Asia-Pacific region, particularly China, is expected to continue its dominance in both production and consumption, although other regions are seeing increasing investments in neodymium processing and magnet manufacturing. The competitive landscape is characterized by a mix of established players and emerging companies. Leading producers, such as Lynas Corporation and Arafura Resources, are focusing on expanding production capacity and exploring downstream integration. Meanwhile, smaller companies are concentrating on niche applications and innovative magnet technologies. The market is also witnessing a trend towards greater sustainability and responsible sourcing of rare earth materials, driven by growing environmental awareness and stricter regulations. Continued research and development efforts are aimed at improving the efficiency and performance of neodymium-based products, furthering market expansion in existing and new applications. This includes advancements in recycling technologies and the exploration of alternative materials to reduce reliance on specific sources of neodymium.

The global neodymium market is projected to reach a valuation of $2.66 billion by 2033, expanding at a CAGR of 6.04% from 2025 to 2033. The increasing adoption of neodymium magnets in electric vehicles, consumer electronics, and industrial motors and generators is driving market growth. Sintered neodymium magnets, which offer high magnetic strength and temperature stability, hold the largest share of the market. Asia Pacific is the dominant regional market due to the presence of major end-user industries, particularly in China, India, and Japan. Key trends influencing the neodymium market include the growing demand for permanent magnets in renewable energy applications, such as wind turbines and electric vehicles. The advent of new technologies, such as nanotechnology, is also expected to create opportunities for the development of advanced neodymium-based materials with enhanced properties. However, the market faces challenges related to the availability of raw materials and geopolitical factors, which can impact supply and prices. Despite these challenges, the long-term outlook for the neodymium market remains positive, driven by the increasing demand for high-performance magnets in various industries. Recent developments include: , The neodymium market is projected to reach USD 4.5 billion by 2032, exhibiting a CAGR of 6.04% during the forecast period (2024-2032). The growing demand for neodymium magnets in electric vehicles, wind turbines, and consumer electronics is driving market growth. Additionally, government initiatives to promote clean energy technologies are expected to fuel demand for neodymium in the coming years.Recent news developments in the neodymium market include the announcement by China's largest rare earth producer, China Northern Rare Earth Group, of plans to invest USD 1.2 billion to expand its neodymium production capacity. The company aims to meet the increasing demand for neodymium from the electric vehicle and renewable energy sectors.Furthermore, Molycorp, a leading producer of rare earth materials, has signed a long-term supply agreement with General Motors to provide neodymium for the automaker's electric vehicle production. This deal highlights the growing importance of neodymium in the automotive industry., Neodymium Market Segmentation Insights, Neodymium Market-Grade Outlook. Key drivers for this market are: Electric vehicle demands Renewable energy expansion, medical applications growth; Aerospace industry advancements Consumer electronics growth.. Potential restraints include: Increasing Demand for Electric VehiclesGrowing Adoption of Renewable Energy SystemsFluctuating Raw Material PricesGovernment Regulations and SupportTechnological Advancements in Magnet Production.

The price of neodymium in the US reached 79600 USD/MT in 2023. Comparably, the same year had a 54398 USD/MT price for neodymium in China.

Neodymium Iron Boron Market Expected to reach a CAGR of 5.9% by 2031: DataM Intelligence

The size and share of the market is categorized based on Type (95% Purity, 98% Purity, 99.9% Purity) and Application (Thin Film Deposition, Experimental Study, Other) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Explore Neodymium Market Regional Demand with our comprehensive analysis. Get insights on North America, Asia Pacific, Europe, and other key regions. Access country-level market data and understand market dynamics and growth potential across different regions.

The market size of the Neodymium Rare Earth Magnets Market is categorized based on Application (Electronics (Hard Drives, Headphones, Speakers), Automotive (Electric Motors, Hybrid Vehicles), Medical Devices, Industrial Applications) and Product (Sintered Neodymium Magnets, Bonded Neodymium Magnets, SmCo Magnets, Ferrite Magnets, Alnico Magnets) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.

Discover the dynamics behind the neodymium price index, a key metric for industries reliant on rare earth magnets, influenced by factors like supply chain disruptions, geopolitical tensions, and technological advancements. Learn how increased demand from sectors such as electric vehicles and renewable energy affects market prices and the emerging trends in recycling and synthetic alternatives.

The Japan NdFeB (Neodymium-Iron-Boron) magnet market size reached USD 982.0 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,083.0 Million by 2033, exhibiting a growth rate (CAGR) of 1.1% during 2025-2033.

IMARC Group provides an analysis of the key trends in each segment of the Japan NdFeB (Neodymium-Iron-Boron) magnet market report, along with forecasts for the period 2025-2033. Our report has categorized the market based on application and domestically manufactured/imports.

Neodymium Market was estimated at USD 3.82 Billion in 2024 and is projected to grow at compound annual growth rate (CAGR) of 8.3% during the forecast period (2025-2032) with value of USD 7.18 Billion by 2032.

According to Cognitive Market Research, the global Sintered Rare Earth Magnets market size will be USD XX million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.30% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.5% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
The Sintered Neodymium-Iron-Boron (NdFeB) Magnets category is the fastest growing segment of the Sintered Rare Earth Magnets industry

Market Dynamics of Sintered Rare Earth Magnets Market

Key Drivers for Sintered Rare Earth Magnets Market

Rising Demand from Electric Vehicles to Boost Market Growth

The market for sintered rare earth magnets is expanding due in large part to the growing demand for electric vehicles (EVs). The adoption of electric vehicles (EVs) has expanded in tandem with the global shift towards cleaner and more sustainable transportation. This has resulted in a greater need for high-performance components like magnets. Neodymium-iron-boron (NdFeB) magnets, in particular, have a greater magnetic strength and can function well in small places. They are sintered rare earth magnets that are vital to the manufacturing of electric motors. These magnets provide powerful magnetic fields with minimal energy consumption, which improves the functionality and energy efficiency of EV motors. The demand for these magnets is also being fueled by the fact that governments all over the world are promoting electric transportation with incentives and policies.

Expansion of Renewable Energy to Drive Market Growth

One major factor propelling the market for sintered rare earth magnets is the rise of the renewable energy industry. The need for wind, solar, and other renewable technologies has increased as a result of the world's transition to greener energy sources. In particular, high-performance magnets are essential to the effective operation of wind turbines, which are a vital part of the infrastructure supporting renewable energy sources. Since they have a high magnetic strength and can operate in harsh environments, sintered rare earth magnets—particularly neodymium-iron-boron (NdFeB) magnets—are crucial components of wind turbine generators. By lowering energy loss and raising turbine efficiency overall, these magnets contribute to the cost-effectiveness and sustainability of renewable energy generation.

Restraint Factor for the Sintered Rare Earth Magnets Market

High Cost of Raw Materials will Limit Market Growth

Since the market for sintered rare earth magnets depends so heavily on rare earth elements like neodymium, praseodymium, and dysprosium, the high cost of raw materials is a major barrier. These components are essential for creating the strong magnetic characteristics that make sintered rare earth magnets appealing for use in a variety of applications, including consumer electronics, wind turbines, and electric cars. However, their high and unstable costs are a result of their scarcity and the difficult extraction procedures. These prices are significantly influenced by China, which holds a large share of the world's supply of rare earth elements. Global price rises might be severe if export regulations, tariffs, or domestic demand in China were to shift.

Impact of Covid-19 on the Sintered Rare Earth Magnets Market

The market for sintered rare earth magnets grew significantly as a result of the COVID-19 outbreak. In the early phases of the epidemic, the market was disrupted by issues with the global supply chain, especially when major manufacturers of rare earth minerals, like China, went through lockdowns and decreas...

The global bonded neodymium magnet market is experiencing robust growth, driven by increasing demand across diverse sectors. While precise market size figures for 2025 aren't provided, we can reasonably estimate the market value based on industry trends and available data. Let's assume a 2025 market size of $2.5 billion USD (a conservative estimate considering the growth potential and various applications). With a projected Compound Annual Growth Rate (CAGR) of 6%, the market is expected to reach approximately $3.7 billion by 2033. This expansion is primarily fueled by the automotive industry's increasing adoption of electric vehicles (EVs), which significantly rely on these magnets for motor applications. Further growth drivers include the burgeoning consumer electronics market, particularly in portable devices and appliances that require high-performance miniature magnets. The rising popularity of smart home devices and automation technologies further contributes to market expansion.
Significant market segmentation exists, with injection magnets and press-bonded magnets holding substantial shares. Application-wise, the automotive segment is the largest contributor, followed by consumer electronics and household appliances. While opportunities abound, challenges remain. These include the fluctuating prices of rare-earth elements (like neodymium) and concerns surrounding environmental sustainability. Competition among key players like Galaxy Magnetic, Advanced Technology and Materials, and others necessitates continuous innovation in magnet design and manufacturing processes to maintain a competitive edge. The ongoing development of more efficient and cost-effective bonded neodymium magnets is crucial for realizing the full potential of this dynamic market. This comprehensive report provides an in-depth analysis of the global bonded neodymium magnet market, projecting a market value exceeding $3 billion by 2028. We delve into production trends, technological advancements, key players, and future growth prospects, offering invaluable insights for industry stakeholders. This report is essential for businesses involved in manufacturing, supply, and application of bonded neodymium magnets, and for investors seeking opportunities in this rapidly evolving sector.

The average price of neodymium oxide in the United States for 2023 reached 79600 USD/MT. The average price trend for neodymium oxide in China reached 54398 USD/MT in 2023. It encompasses an in-depth review of spot price of neodymium oxide at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of neodymium oxide price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.