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Development of Neodymium magnet market in 2012

Development of Neodymium magnet market in 2012

Over the year of 2011, the cost of rare-earth magnets has risen to levels never seen or probably ever envisaged before. This has been mainly due to the high cost of the rare-earth oxides that constitute the main components of the magnets. This has not only affected the end-users but also all China Magnet manfacture, China Hilian Magnet Factory have had to battle with almost daily price increases and limited supplies of the raw materials.

Thankfully NdFeb magnet prices appear to have finally stabilised in the early of 2012, but whether they will ever return to levels of a year ago remains to be seen. This situation has caused great concern particular with design engineers who have been faced with the decisions of the viability of future rare-earth projects or looking for alternative materials.

Neodymium magnet refer to electric switches with permanent magnetic actuators. Compared with conventional spring actuator switches, they hold a lot of advantages, say, less components, smaller size, longer life and higher performance, and serve as substitutes for spring switches.

China Neodymium magnet industry is still at the primary stage of development. In 2010, China produced only 35,000 sets of Neodymium magnetes. As their performance has been improved gradually and promotion has been enhanced, Neodymium magnetes will be applied more widely in large-scale industrial enterprises in steel, petrochemical, coal, etc. It is estimated that the market scale of Neodymium magnetes will increase to 65,000 sets in China in 2015 with the average growth rate of 13.18%.

At present, large Neodymium magnet manufacturers can be mainly divided into foreign-funded and China-funded enterprises in China.

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