What is Neodymium Magnet and Where is the main production?

We all know magnet but not a lot of people know about neodymium magnet.

Neodymium is used on our most common used product, such as our cellphone, headphones and on the electric car too.

neodymium magnet

Pronounced as “nee-oh-dim-ee-um” is one of 17 rare earth elements and the demand for this metal has been on the rise.

For small items like Airpods to vibrate and large scale industrial as wind turbine to generate power, they need powerful magnet. The combination of neodymium with iron and boron makes neodymium-iron-boron magnet, which is the most powerful type of permanent magnet ever created.

Just how powerful these magnet are, see below video clip.

Magnet seems trivial and useful for sticking things onto your fridge, but according to latest data, the neodymium-iron-boron magnet market was worth $14.4 billion in 2020.

With the rise of the Tesla and its electric card, the market forecast is to have millions of electric vehicles on the road and each one of them will have neodymium magnet there

So what makes the neodymium magnet so special and high in demand ?

Neodymium magnet are the strongest permanent magnets commercially available, anywhere in the world. They have better level of magnetism and resistanceto demagnetisation compared to ferrite, alnico and even samarium cobalt magnet.

If you are interested in looking for a source of supplier for neodymium magnet, you can contact us.

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