Rare Earth Magnet Market

There are some factors that can actually make a difference in the future demand and supply of Neodymium magnets. Though the future is unpredictable and anything about the future is uncertain, only an prediction about the market, economic, and business conditions of a material can only be estimated basing upon the reasonable assumptions of the current circumstances. No one can guarantee of future performance and development but it is a forecasts and conclusions basing upon the real world fact for general guidance.

  

Estimation signifies that the future demand for magnet will increase at a rapid pace of 6 to 8 percent in 2016. However more demand is expected on the growth of consumer electronic equipment and products like electric bicycles.

Experts are doing research on magnet and their application. The economist and the technologist also can view that:

• If green technology applications materialize, an anticipated greater growth rate is likely to be seen in the year from 2016.

•Currently permanent magnet such as the Neodymium magnets is widely used to drive the machines like direct motors due to its easy availability. However, in future lack of abundance and the effect of high prices may limit the use of the Neodymium magnets in the application of direct drives which are now adopted for wind turbines.

•Likewise, the producers of motor are also trying hard to discover other alternatives to Neodymium magnets motors for the running of electric vehicles.

•Moreover, the leading companies like Showa Denko, Hitachi, and Mitsubishi Materials are spending millions of bugs in researching new alternatives of recycling old discarded hard disc drives and other commonly used magnetic product for better industrial use.

Research shows that China has the largest market for Neodymium magnets. Moreover the demand is increasing day by day for the rare earth oxides and metals as the application of the same is becoming more and more.  A greater demand is coming from the industrial applicability side while a lower demand is originated on the applications in metallurgy and agriculture sectors.

The Neodymium magnets produced are varied in their manufacturing process due to the difference in mix based on the use and applicability in the segments. Recently China is producing approximately 80% of all rare earth magnets, while Japan contributes about 17% merely, and only around 3% are made in Europe. The variability of prices is the main reason of shortage in the supply of raw material. These shortages of the metal cause the manufacturers to explore alternate technologies without the utilization of permanent magnets.

For more information about various magnets, please visit http://www.usrareearthmagnet.com/