The rapid rise in the price of NdFeB magnets in 2021 affects the interests of all parties, especially downstream application manufacturers. They are eager to know about the supply and demand of Neodymium Iron Boron magnets, so as to make plans in advance for future projects and take special circumstances as a plan. Now we will present a concise analysis report on the information of NdFeB magnets in China for our customers, especially electric motor manufacturers for reference.
In recent years, the output of NdFeB permanent magnetic materials in China has shown a growing trend. Sintered NdFeB magnets are the mainstream products in the domestic NdFeB permanent magnet market. According to the data of the Ministry of Industry and Information Technology, the output of sintered NdFeB blanks and bonded NdFeB magnets are 207100 tons and 9400 tons respectively in 2021. In 2021, the total output of NdFeB permanent magnet blanks reaches 216500 tons, up 16.4% year on year.
The price of rare earth permanent magnet has risen rapidly since the low point in the middle of 2020, and the price of rare earth magnet has doubled by the end of 2021. The main reason is that the prices of rare earth raw materials, such as Praseodymium, Neodymium, Dysprosium, Terbium, have risen rapidly. By the end of 2021, the price is around three times the price in the middle of 2020. On the one hand, the epidemic has led to poor supply. On the other hand, the market demand has grown rapidly, especially the number of additional new market applications. For example, all rare earth permanent magnets of China’s new energy vehicles account for about 6% of the sintered Neodymium magnet output in 2021. In 2021, the output of new energy vehicles exceeds 3.5 million, with a year-on-year growth of 160%. Pure electric passenger cars will remain the mainstream model of new energy vehicles. In 2021, 12000 tons of high-performance NdFeB magnets are required in the field of electric vehicles. It is estimated that by 2025, the annual compound growth rate of China’s new energy vehicle output will reach 24%, the total output of new energy vehicles will reach 7.93 million by 2025, and the demand for new high performance rare earth Neodymium magnets will be 26700 tons.
China is currently the world’s largest producer of rare earth permanent magnets, and its output has basically remained above 90% of the global total in recent years. Export is one of the main sales channels of rare earth permanent magnet products in China. In 2021, the total export volume of China’s rare earth permanent magnet products are 55000 tons, an increase of 34.7% over 2020. In 2021, the overseas epidemic situation eased, and the production recovery and procurement demand growth of overseas downstream enterprises is a major reason for the substantial growth of China’s rare earth permanent magnet exports.
Europe, America and East Asia have always been the main export markets of China’s rare earth Neodymium magnet products. In 2020, the total export volume of the top ten countries exceeded 30000 tons, accounting for 85% of the total; the total export volume of the top five countries exceeded 22000 tons, accounting for 63% of the total.
The export market concentration of rare earth permanent magnets is high. From the perspective of exports to major trading partners, a large number of China’s rare earth permanent magnets are exported to Europe, the United States and East Asia, most of which are developed countries with high scientific and technological level. Taking the export data of 2020 as an example, the top five countries are Germany (15%), the United States (14%), South Korea (10%), Vietnam and Thailand. It is reported that the final destination of rare earth permanent magnets exported to Southeast Asia is mostly Europe and America.
Post time: Oct-09-2022