South Korea NdFeB Bonded Magnet Market was valued at USD 0.10 Billion in 2022 and is projected to reach USD 0.15 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The South Korea NdFeB Bonded Magnet Market is rapidly evolving, driven by its essential role in various industrial applications. NdFeB (Neodymium Iron Boron) bonded magnets, known for their high magnetic performance and versatility, are witnessing increased demand across numerous industries, including automotive, consumer electronics, renewable energy, and healthcare. As industries seek to improve the efficiency of their products, the requirement for high-quality NdFeB bonded magnets has become more pronounced, presenting significant opportunities for growth in South Korea's market.
The automotive industry, in particular, is one of the largest consumers of NdFeB bonded magnets. With the ongoing transition to electric vehicles (EVs), the demand for these magnets is surging. NdFeB magnets are crucial components in electric motors, sensors, and other EV systems, enhancing performance and energy efficiency. As South Korea continues to emerge as a leader in electric vehicle manufacturing, the need for high-performance bonded magnets has never been higher.
Consumer electronics also play a vital role in driving the NdFeB bonded magnet market. These magnets are widely used in smartphones, computers, and other electronic devices due to their compact size and powerful magnetic properties. As the electronics market in South Korea continues to expand, the demand for high-quality bonded magnets to support the development of smaller and more efficient devices is expected to grow.
Moreover, the renewable energy sector is another significant driver of demand. NdFeB bonded magnets are integral to the production of wind turbines and other renewable energy systems, contributing to the growth of clean energy technologies in South Korea. With the government's focus on increasing renewable energy production, the NdFeB bonded magnet market is poised for further expansion.
Industries are increasingly looking for magnets that offer high performance at a lower cost. This has led to a rise in the development of new, advanced NdFeB bonded magnet formulations, which provide enhanced magnetic properties and longer-lasting durability. As demand grows, manufacturers in South Korea are investing in research and development to innovate and meet the evolving requirements of various sectors, ensuring that the NdFeB bonded magnet market continues to flourish.
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Galaxy Magnets
Zhong Ke San Huan Hi-Tech
Daido Electronics
Magnequench
IMA
Ningbo Yunsheng
Arnold Magnetic Technologies
TDK
MS-Schramberg
DMEGC
Sen Long Corporation
Jiangmen Magsource
AT&M
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea NdFeB Bonded Magnet Market
Automotive
Electronics
Renewable Energy
Healthcare
Aerospace
Injection Molded Magnets
Compression Bonded Magnets
Extrusion Bonded Magnets
Motors
Sensor Systems
Magnetic Separators
Magnetic Assemblies
Magnetic Clutches
Neodymium
Iron
Boron
Hot Pressing
Cold Pressing
Injection Molding
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea NdFeB Bonded Magnet Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea NdFeB Bonded Magnet Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea NdFeB Bonded Magnet Market, By Type
6. South Korea NdFeB Bonded Magnet Market, By Application
7. South Korea NdFeB Bonded Magnet Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea NdFeB Bonded Magnet Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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