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Rare Earth Magnet Market Outlook to 2030

Published: August 2020

In this report, we provide a detailed overview of the global NdFeB alloy, powder, magnet and magnet rare earth markets, including a historical breakdown of production, consumption, prices and inventory levels from 2015 through 2019. Next, we unravel the anticipated near-term impact of the COVID-19 pandemic on world markets and forecast global supply, demand and prices from 2020 through 2030.

After growing at a CAGR of 6.4% from 2015 through 2019, we forecast that global consumption of NdFeB alloys and powders will drop by 9.3% in 2020 on account of the ongoing negative effects of COVID-19 on demand for everything from EV traction motors to micromotors and sensors, wind power generators, consumer appliances, cordless powertools and dozens of other end-uses and applications.

However, with the ongoing re-opening of key demand markets through the end of 2020 and into 2021, we expect demand for most end-uses and applications to rebound strongly in 2021 and 2022 and thereafter rise steadily through the end of the decade and beyond.

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