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 has been experiencing substantial growth due to its increasing application across various industries. These magnets are made from Neodymium (Nd), Iron (Fe), and Boron (B), offering excellent magnetic properties while being lightweight and durable. Their unique characteristics make them crucial in several sectors, including electronics, automotive, renewable energy, and industrial machinery. As industries demand higher performance and efficiency, the NdFeB Bonded Magnet market in South Korea is evolving to meet these needs.
The automotive industry is one of the largest users of NdFeB bonded magnets, relying on them for electric motors, sensors, and actuators. The rise of electric vehicles (EVs) has further accelerated the demand for these magnets, given their efficiency in powering electric motors with minimal energy loss. With the growing push for sustainability and innovation in EV technology, South Korea has become a key player in the production and supply of NdFeB bonded magnets to meet the needs of both local and international markets.
Similarly, the electronics industry plays a pivotal role in driving the demand for NdFeB Bonded Magnets. These magnets are widely used in components such as speakers, hard drives, and headphones, all of which require small yet powerful magnets for effective functioning. The ongoing demand for consumer electronics, coupled with the shift towards smaller, more efficient devices, ensures the continuous growth of this market segment.
The renewable energy sector also contributes to the increasing requirements for NdFeB bonded magnets. Wind turbines, which rely on these magnets for their generators, are vital for producing green energy. As South Korea focuses more on expanding its renewable energy capacity, the need for high-performance magnets becomes even more critical to enhance energy efficiency and turbine reliability.
As industries continue to evolve and integrate advanced technologies, the requirement for NdFeB bonded magnets in South Korea is expected to grow, highlighting their importance in the development of next-generation solutions. With technological advancements and market demands shaping the future, the South Korean NdFeB Bonded Magnet market is poised for continued success and innovation.
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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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