Nd Fe B Magnet Market Insights Video

According to Cognitive Market Research, the global Nd Fe B Magnet market size was USD 3351.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.50% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 1340.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1005.45 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 770.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 167.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 67.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
• The consumer electronics is the dominant end-use category. The widespread adoption of NdFeB magnets in consumer electronics is driven by their essential role in enhancing performance and functionality.