Continuously Focusing on Rare Earth Permanent Magnet Racecourse Market Share Expected to Continue to Grow

Continuously Focusing on Rare Earth Permanent Magnet Racecourse Market Share Expected to Continue to Grow

Rare earth permanent magnet material is a high-performance magnetic material. Among them, Nd-Fe-B permanent magnet, the third generation permanent magnet material, has ultra-high magnetic energy product, Coercivity and energy density. It is the strongest magnet known at present, known as the "King of Permanent Magnets", and also the fastest growing permanent magnet material. It plays a key role in high-end scientific and technological products and military equipment, covering high-tech fields such as electronics, communications, medical care, energy, automobile, aerospace, etc, Wide commercial scope.

China is not only a major producer of rare earth, but also the most important exporter of high-performance rare earth permanent magnet materials. Data shows that in 2021, China's production of neodymium iron boron magnetic materials was 219400 tons, and in 2022, exports were 53300 tons, far exceeding 80% of foreign demand for neodymium iron boron magnetic materials. Currently, there are over 200 sintered neodymium iron boron permanent magnetic material production enterprises in China, with a serious surplus of low-end neodymium iron boron material products. Therefore, it is particularly important to break through the production of high-end rare earth permanent magnetic materials.

Looking forward to the future, with the advocacy of green and sustainable development in China and the continuous penetration of new energy vehicles, as well as the construction of 9 major energy bases and the application of large-scale wind turbines, permanent magnet products have become the preferred application solution for national government agencies and industry leading enterprises. Neodymium iron boron permanent magnet materials and related industries have significantly benefited, with an upward market share and huge spatial elasticity.