The Nd-Fe-B neodymium magnet is widely used in all industries, such as electronic products, car and medical devices. Such a component requires extreme precision during the production process. Therefore, there is a high demand for manufacturers like the Chinese-based company JinTong Magnet Material Technology, who can provide superior Nd neodymium magnet.
Neodymium magnets also include several levels of performance that can be tailored according to the clients’ needs. A high-end product of this kind is typically made with a fast hardening strip casting method, and the total of Hcj(kOe) and (BH)max(MGOe) must be greater than 60.
The unmet market demand
The capacity to produce the high-standard neodymium magnet is far behind the amount that is required by downstream markets. Industry leading firms can easily influence the price with the demand surplus which allows them to make more profits. However, this is not a bad scenario. Although it may cause the market to become more monopolistic, these dominant players have more capital to invest in building more infrastructures and purchase machinery. Eventually, the overall manufacturing capacity will increase to close the gap between demand and supply a little bit.
Experts forecasted that the expansion cycle would take approximately two years to complete. They also pointed out that, the current production expansion rate is only 10%; it is less than the increase in demand which is 13-15%. In this case, even when the manufacturing amount expands two years later, the needs for the high-standard Nd-Fe-B neodymium magnet will, in fact, become more significant. Therefore, it will become more irreplaceable than the current stage.
Significant capital investments
Another reason high-quality magnet components manufacturers find it difficult to fulfil all market demand is the initial business costs. Different clients have various requirements on the sizes, shapes and coatings, which means manufacturers will need to acquire multiple machines that can perform jobs correctly to ensure quality. The costs of production factor could increase dramatically due to this reason. There are a few firms like JinTong, that are able to invest in enough equipment to meet customers demands while maintaining the standard as good as they can.
The possible substitutions
There are two methods to make the superior Nd-Fe-B neodymium magnet less demanding. The first way is to explore and research on practical applications of the fourth generation of rare earth permanent magnetic materials, as well as rare earth Ferric nitrate. Another method is to use cheaper metals such as ferrite or samarium cobalt; however, the performance is also reduced compared to neodymium magnets.
As for the first solution, it is predicted that it will take several decades for the technology to become mature, and the rare earth materials can be utilised efficiently and minimise waste. Therefore, we won’t see any materials that are better than Nd-Fe-B neodymium in the short term. The second substitution is only possible in basic products that require less precision. Changing to cheaper materials can also reduce their production costs. However, when we consider using magnetic components on medical machinery, the high-standard neodymium magnet is still irreplaceable.
In conclusion, the only way to reduce the demand gap under the current circumstances is to increase the production capacity of Nd-Fe-B neodymium magnet. This is particularly important for those high-end devices manufacturers like Siemens, as they need a huge amount of high-quality magnets to ensure their equipment performs precisely. With the considerable increase in demand, industry leaders like JinTong have been putting significant efforts in providing the best products. If you are looking for high-end neodymium magnets, ask their experts and see how you can cooperate with them.
For more info, please visit: https://www.jintongmagnet.com