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The neodymium market growth is being propelled by the rising demand for NdFeB magnets from end-use industries such as electronics and automotive. These magnets are further preferred in a range of applications such as wind turbines, advanced audio-visual equipment, and electric vehicles.
NdFeB magnet is a permanent magnet material with high magnetic energy product, high coercivity and high magnetization intensity. It is composed of elements such as neodymium (Nd), iron (Fe) and boron (B). It has attracted much attention due to its excellent magnetic properties and has broad application prospects.