From 2000 to 2008, the average annual growth rate of global rare earth permanent magnet market maintained 25% or so. The downstream demand for rare earth permanent magnet declined sharply in 2009 because of the financial crisis. Along with the economic recovery in 2010, the consumption of Nd-Fe-B has upturned quickly, increasing by more than 30% in Q1 of this year. In the following years, there will be a vigorously increasing demand for rare earth permanent magnet in the fields such as wind power, new energy vehicles, and energy-saving home appliances with the improved requirements of energy saving & environment protection as well as the solutions of technical matters.
Rare earth permanent magnet materials consist of Sm-Co permanent magnet materials and Nd-Fe-B permanent magnet materials. Sm-Co permanent magnet, which is of relatively high cost, is mainly applied to special fields like war industry and not more than 1000 tons of it is used in these fields annually; Nd-Fe-B permanent magnet is of higher performance price ratio and its application amount is several tens of times of that of Sm-Co permanent magnet material.
China is the main Nd-Fe-B producing country in the world and its output in 2009 was 94 kilotons. The major Nd-Fe-B manufacturers in China include Zhong Ke San Huan, Ningbo Yunsheng, Taiyuan Twin-Tower, AT& M, etc. Since 2003, Chinese Nd-Fe-B manufacturers have gradually turned from medium and low-end low value-added application market to high-end application market, for instance, VCM, automobile, wind power, MRI instrument, and so on.
Starting from rare earth resources, rare earth permanent magnet supply, segmented markets of rare earth permanent magnet, and key manufacturers, this report has presented the deep analysis of China rare earth permanent magnet industry.