Japan Neodymium Iron Boron Magnet Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 1.21% from 2023 to 2033
• The Japan Neodymium Iron Boron Magnet Market Size is Anticipated to Hold a Significant Share by 2033.

The Japan Neodymium Iron Boron Magnet Market is Anticipated to hold a significant share by 2033, growing at a CAGR of 1.21% from 2023 to 2033. The market is primarily propelled by the country's strong emphasis on technological improvement and innovation.

Market Overview

An alloy of neodymium, iron, and boron is used to create neodymium-iron boron (NdFeB) permanent magnets. These types of magnets are the most powerful permanent magnets currently on the market. Their exceptional magnetic strength makes them perfect for a variety of applications, such as hard disk drives, electric motors, and different kinds of sensors. Japan is the second-largest market for NdFeB magnets. Some of the world's largest electronics and vehicle manufacturers, including Hitachi, Panasonic, Sony, Toyota, Nissan, and Honda, are headquartered in Japan, which drives demand for these magnets in the country. Due to their unique characteristics such as portability, lightweight, strong magnetic force, and capacity to save energy, NdFeB magnets are widely employed in Japan in the field of energy and energy conservation. These magnets are mostly utilized in turbines for electricity, energy-efficient escalators, electric bikes, hybrid automobiles, computer hard disk drives, medical equipment, and consumer electronics.

Report Coverage

This research report categorizes the market for the Japan neodymium iron boron magnet market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan neodymium iron boron magnet market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan neodymium iron boron magnet market.

Driving Factors

Increase in the utilization of neodymium-iron-boron in various fields including electronics for consumers, automotive, healthcare, and others is a critical factor driving market growth, as is the increase in development and research efforts and demand from a variety of end-user industries, among other factors. Furthermore, technological improvements and modernization in production techniques, as well as an increase in demand from emerging nations, will generate new chances for the neodymium iron boron magnet market throughout the projection period.

Restraining Factors

NdFeB magnets are created from rare earth elements, which are scarce in supply and primarily obtained from China. This reliance on a single source for rare earth elements may result in risks related to the supply chain and price volatility. The manufacturing procedure for NdFeB magnets requires a significant amount of energy, and the raw materials utilized are costly. This can make the production of NdFeB magnets costly, limiting their adoption in certain applications.

Market Segmentation

The Japan neodymium iron boron magnet market share is classified into product type and application.

• The sintered NdFeB magnet segment is expected to hold s significant market share through the forecast period.   

The Japan neodymium iron boron magnet market is segmented by product type into bonded NdFeB magnet, sintered NdFeB magnet, and others. Among these, the sintered NdFeB magnet segment is expected to hold s significant market share through the forecast period. Sintered NdFeB magnets offer an extensive variety of applications, including door latches, motors, generators, and heavy equipment components.

• The electric motors & generators segment is expected to dominate the Japan neodymium iron boron magnet market during the forecast period.       

Based on the application, the Japan neodymium iron boron magnet market is divided into automobile, electric motors & generators, medical industry, and wind power. Among these, the electric motors & generators segment is expected to dominate the Japan neodymium iron boron magnet market during the forecast period. Permanent magnet motors provide excellent efficiency, low size, and improved performance. They are commonly utilized in electric cars, industrial machinery, household appliances, and robotics.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan neodymium iron boron magnet market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hitachi Metals, Ltd.
• TDK Corporation
• Shin-Etsu Chemical Co., Ltd.
• Daido Steel Co., Ltd.
• Toshiba Materials Co., Ltd.
• Fujitsu Limited
• Sumitomo Special Metals Co., Ltd.
• NEOMAX Co., Ltd.
• Mitsubishi Materials Corporation
• Nippon Denko Co., Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2024, Envipro Holdings Inc. has signed an MOU with HyProMag Ltd. of the United Kingdom (hereafter referred to as "HyProMag") for the reuse and recycling of rare earth magnets and has commenced working with them.

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Neodymium Iron Boron Magnet Market based on the below-mentioned segments:

Japan Neodymium Iron Boron Magnet Market, By Product Type

• Bonded NdFeB Magnet
• Sintered NdFeB Magnet
• Others

Japan Neodymium Iron Boron Magnet Market, By Application

• Automobile
• Electric Motors & Generators
• Medical Industry
• Wind Power