Your position: Home > News > New Blogs > Details
Rare Earth Permanent Magnet Industry Has Broad Prospects

As the important and advanced materials, rare earth permanent magnets now are facing four positives. They are rapid growth of application, decline in purchasing costs, support from government policy and elimination of market barriers.  This indicates that there will be a broad development space for rare earth permanent magnet industry in the future.

With the progress of science and technology, not only are rare earth permanent magnet materials used in the small and special motor of computer, auto, meter, household appliances, aerospace industry etc and the components of NMR equipment, magnetic separation equipment, magnetism therapy instrument etc, but also some emerging fields such as new energy vehicles, inverter home appliances, energy-saving elevators and energy-saving oil pumping machine need more and more these advanced materials. Rare earth permanent magnets own huge application space.

Since the year 2012, rare earth prices in our country have fallen sharply, which leads to the production and use cost reduction of rare earth permanent magnet materials. Whereas in developed countries the production costs keep high while the market prices keep falling, so it is hard for these countries to continue production. At present, global production base of rare earth permanent magnet industry is now shifting to China, and China has been worldwide supplier of rare earth permanent magnet materials.

In July this year, the Ministry of Industry and Information Technology (MIIT) and the Ministry of Finance (MOF) jointly released the notice "National Subsidy Fund Administrative Measures for the Development of the Internet of Things Industry and the Rare Earth Industry". It gives support to the following five aspects: One is the rare earth resources mining regulation; Second is environmental protection technical innovation of rare earth mining and smelting; Three is a key technology and standards development of rare earth in common; Four is high-end rare earth application technology research and development and industrialization; Five is the public technical service platform construction. As the highest technical content in the rare earth industry chain, rare earth permanent magnet materials will surely benefit most.

According to some analysis, most foreign magnetic material patents have expired up to now. The U.S. patents are all set to expire within this year as well. The production limitation of rare earth permanent magnet materials in our country is becoming less and less. When all the foreign magnetic material patents expire, our materials will be able to get into the international market without any patent shielding. At that time the market share can be further expanded and the export products structural adjustment will be just around the corner.

Contact information
China Magnets Source Material Limited
Tower B, Qiongzhu Building,
Huawang Rd,Longhua District,
Tel: +86 755 28174720
Fax: +86 755 28174720