Current Status of NdFeB Magnet Industry in China

More than 50 years has passed since coming of Alnico 5 in 1940s, the energy product of hard magnets has been increased from 40kJ/m3 (5MGOe) to 400 kJ/m3 (50 MGOe) and more. Alnico was majority of commercial magnets during 1940s to 1960s, then hard ferrite dominated magnet market since early 1970s. It is expected that rare earth magnet will become the dominant one after 2010. Japanese economy did not get ride off recession since 1990s, The economic situation in Europe was not as strong as expected. US economy was weakening since 2000. All of these gave great impact on global magnet industry. Structure change in global magnet industry was so significant, most magnet manufacturers in the West stop their production activities and shift producing line to developing countries, including China.