China RE-Permanent Magnet Report

Markets:

China Rare Earth Permanent Magnet Industry Report, 2009-2010 Business Editors

(AP) — DUBLIN-- (BUSINESS WIRE)-May 28, 2010--Research and Markets (http://www.researchandmarkets.com/research/09c400/china_rare_ea th_p) has announced the addition of the "China Rare Earth Permanent Magnet Industry Report, 2009-2010" report to their offering.

From 2000 to 2008, the average annual growth rate of global rare earth permanent magnet market maintained 25% or so. The downstream demand for rare earth permanent magnet declined sharply in 2009 because of the financial crisis. Along with the economic recovery in 2010, the consumption of Nd-Fe-B has upturned quickly, increasing by more than 30% in Q1 of this year. In the following years, there will be a vigorously increasing demand for rare earth permanent magnet in the fields such as wind power, new energy vehicles, and energy-saving home appliances with the improved requirements of energy saving & environment protection as well as the solutions of technical matters.

Rare earth permanent magnet materials consist of Sm-Co permanent magnet materials and Nd-Fe-B permanent magnet materials. Sm-Co permanent magnet, which is of relatively high cost, is mainly applied to special fields like war industry and not more than 1000 tons of it is used in these fields annually; Nd-Fe-B permanent magnet is of higher performance price ratio and its application amount is several tens of times of that of Sm-Co permanent magnet material.