NdFeB Magnet Market Insights, Leading Players, Growth and Business Opportunities
The neodymium magnet can be produced in many shapes and sizes, even as small as 1mm diameter, making it useful in a variety of applications. Neodymium magnets belong to the rare-earth family of elements; they are found in abundance in the earth?s crust. However, rare-earth elements are typically dispersed and not often found concentrated in economically exploitable deposits. The multiple applications in endless industries have benefited the neodymium (Nd-Fe-B) magnet market in North America, which is expected to cross US$ 5.3 Bn by 2031, at a CAGR of 5.6% during the forecast period.
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