ferrite magnets
Overview of China's rare earth permanent magnet material industry
Aug 24,2021.

Rare earth permanent magnet materials have a wide range of applications, including traditional industries such as computers, automobiles, instrumentation, and household appliances, as well as emerging industries such as wind power generation, new energy vehicles, and energy-saving elevators. China's rare earth permanent magnet material industry is showing a trend of stable development, with a compound annual growth rate of 11.4%. Thanks to the strong support of the Chinese government and the continued growth of market demand in downstream industrial motors, wind turbines, new energy vehicles, consumer electronics and other applications, the industry is expected to continue to grow in the future, and the consumption of rare earth permanent magnet materials is expected to further expand , The consumption is expected to reach 164,000 tons in 2023.

rare earth neodymium magnets application

Definition of Rare Earth Permanent Magnetic Materials Industry

Rare earth permanent magnet materials, namely rare earth permanent magnet alloys, are produced by sintering, bonding and other different preparation methods of alloys composed of rare earth metals such as samarium and neodymium and transition metals such as cobalt and iron, and then magnetized by a magnetic field. A magnetic material with strong magnetic properties and comprehensive performance. Rare earth permanent magnet materials have a wide range of applications, including traditional industries such as computers, automobiles, instrumentation, and household appliances, as well as emerging industries such as wind power generation, new energy vehicles, and energy-saving elevators.


Market Status of Rare Earth Permanent Magnet Industry

China is rich in rare earth reserves, accounting for approximately 36.7% of the global rare earth reserves, leading Brazil, Vietnam, Russia and other countries, and ranking first in the world. In 2020, the global output of rare earth mines was 233,000 tons, a year-on-year increase of 6.6%. The increase in output was mainly due to the increase in China's quota and the full production of the Mountain Pass mine in the United States. China and the United States produced 140,000 tons and 35,000 tons respectively. The rare earth industry has now formed a relatively complete industrial chain and supporting industrial foundation. The technological level of rare earth mining, smelting and separation processes has been relatively mature, providing an important raw material basis for the preparation of rare earth permanent magnet materials. Production capacity and output are also at the world's leading level, and China is one of the major producers of rare earth permanent magnet materials in the international market.


Analysis of typical application areas

New Energy Vehicle

In the past five years, China's new energy automobile industry has shown a trend of rapid development. Permanent magnet synchronous motors are the mainstream of China's new energy vehicle drive motors, and their penetration rate is increasing year by year. As the power source of new energy vehicles, permanent magnet synchronous motors have the characteristics of high energy density, reliable operation, and good speed regulation performance. Compared with other types of motors, they can provide greater power output under the same quality and volume. New energy vehicles are the ideal motor type. In addition, the motors used to control components such as built-in seats and window shutters in new energy vehicles are also the application areas of rare earth permanent magnet materials. The market demand for rare earth permanent magnet materials for automobiles will continue to grow.


Wind turbine

In the field of energy saving and environmental protection industry, wind power generation is one of the main application fields of rare earth permanent magnet materials. The wind turbine equipment mainly used in the field of wind power generation includes permanent magnet direct-drive wind turbines and doubly-fed wind turbines. Compared with doubly-fed wind turbines, permanent magnet direct-drive wind turbines have the advantages of safety and reliability, grid compatibility, and high power generation efficiency. At the same time, they have lower maintenance costs in the future and have broad development prospects in the field of wind power generation. With the increase in the installed capacity of wind turbines and the increase in the penetration rate of permanent magnet direct drive wind turbines, the demand for neodymium iron boron permanent magnet materials as raw materials for wind turbines is expected to continue to grow. It is expected that China's wind turbines will be sintered by 2023. The consumption of NdFeB materials is expected to reach 7,460 tons.


Industrial and automotive motors

The magnets used in industrial motors mainly include ferrite and neodymium iron boron permanent magnets. NdFeB permanent magnets have the characteristics of high energy density and abundant raw materials, and are ideal magnetic materials for manufacturing industrial motors. The use of neodymium iron boron permanent magnets as magnetic materials can help reduce the size and weight of the motor and save energy. At present, the application of neodymium iron boron permanent magnets in industrial motors is gradually increasing. Under the direction of China’s "intelligent manufacturing" development strategy, the intelligentization process of manufacturing enterprises will continue to deepen, and the trend of "machines replacing labor" will be further deepened, providing a good development prospect for the application of industrial robots. The use of servo motors for industrial robots The market potential is considerable. Another important application field of neodymium iron boron permanent magnets for automobile motors has a good development prospect.

In addition to starters, automotive motors also include micro motors that provide power for wipers, electric oil pumps and other components. Under the background of increasing requirements for automotive intelligence and automatic maneuverability, the application of micro motors has gradually extended to use Actuating devices for braking, steering, speed regulation and other functions, as well as actuators with built-in control functions such as air conditioning, seats, and window swings. With the development trend of automotive electronics and auto parts miniaturization and efficiency, the application range of micromotors in automobiles is expected to continue to expand and the application penetration rate will continue to increase. As an ideal magnet material for automotive motors and various types of micromotors, the market demand for neodymium iron boron permanent magnet materials is expected to continue to be released.


Inverter home appliances

Inverter household appliances mainly include inverter air conditioners, inverter refrigerators, inverter washing machines and other household appliances. Compared with traditional fixed frequency household appliances, frequency conversion household appliances have the advantages of low noise, energy saving, and longer service life. China's inverter home appliances are in the stage of popularization and application. Compared with inverter refrigerators and inverter washing machines, inverter air conditioner manufacturers have higher requirements for miniaturization of magnets. At this stage, the penetration rate of rare earth permanent magnet materials in inverter air conditioners is about 50%, which is high. Because of its penetration rate in inverter refrigerators and inverter washing machines.

With the improvement of consumer demand for energy saving and noise reduction of home appliances, frequency conversion home appliances are expected to continue to increase their penetration in the home appliance market. As the raw materials for the production of core components of frequency conversion home appliances, the market demand for neodymium iron boron permanent magnet materials is expected to stabilize It is expected that the consumption of sintered NdFeB materials used in the production of frequency conversion home appliances in China is expected to maintain a compound annual growth rate of 12.7% in the next five years.


Consumer electronics

In the field of consumer electronics, rare earth permanent magnet materials are mainly used in products such as hard disk drives, televisions, personal computers, and mobile phones. With the improvement of technological level, the upgrading speed of consumer electronic products is gradually accelerating, and the products are gradually becoming smaller and lighter. Due to the excellent magnetic properties of neodymium iron boron permanent magnets, electronic products made of this magnetic material can meet the same magnetic requirements in a smaller volume, so it is used in various consumer electronic equipment and consumer electronic equipment, such as voice coil motors, sensors, etc. Ideal magnet material for parts.

Consumer electronics belong to the traditional field of downstream applications of rare earth permanent magnet materials, with high application maturity and relatively stable market demand. Driven by the demand for thinner and lighter electronic equipment, the advantages of rare earth permanent magnet materials will become increasingly prominent, and market demand will be further released. It is expected that the consumption of sintered NdFeB materials in 2023 is expected to reach 35,200 tons.



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