New Energy Cars Play an Important Role in Promoting Neodymium Magnets Industry
NdFeB Permanent Magnet Manufacturer China Rare Earth Magnet Limited
Electric cars need traction system with high torque density and operation reliability and excellent toque control ability. In other words, electric cars are in need of neodymium magnets with high energy product, high coercive force and high working temperature. N42 magnets are the most popular magnets used in automobile motors. With rare metal, Dy, the working temperature can be increase to 400°C, which can meet the needs of cars. China high-end neodymium manufactures now are able to manufacture NdFeB permanent magnets that are used in cars, through operation with automobile and motor manufacturers. The products had been on trial of China and European and American car manufacturers and there are not any problems of technology and quality.
Neodymium needed by new energy cars is as follow. HEV: NdFeB used by each HEV is 3kg more than that of a traditional car. EV: There are two technology schemes. One is that rare earth permanent magnetic motors are used as engines. And each car needs 5-10kgs more. Another scheme is that a motor is installed in a wheel. In this way, each car consumes 10-20kgs of neodymium more.
It is expected by A.T.Kearney that there will thousands of millions of HEV in the world in 2020, which directly brings a demand 38 thousand tons of neodymium iron boron magnets per year. According to Kearney’s evaluation, in 2010, output of HEV covers 3% of global output of cars and in 2020, the output will hopefully increase to 75 million. In general, demand of NdFeB permanent magnets brought by new energy cars will reach 98 thousand tons a year. Nd used in a car is 70 dollars per kilogram, which means that in 2020 the neodymium market will reach 46.6 billion Yuan (according to 1 USD equaling to 6.77) RMB.
There is an explosive growth in new energy cars. It is expected that in 2020, market scale of China electric car Nd will exceed 20 billion Yuan. By that time, China market will demand 44 thousand tons of Nd a year. Price of electric car neodymium is 70 dollars/kg (according to 1 USD equaling to 6.77), therefore, in 2020, China market scale of electric car Neo is 20.8 billion Yuan.
From 1996 to 2008, industrial scale of global neodymium permanent magnet will increase from 900 million dollars to 3.6 billion dollars. According to our prediction, in 2020, only new energy cars will bring a demand of Neo with the value of 46.6 billion Yuan, which covers 60% of traditional demand. That is to say, new energy cars will become the most important market of NdFeB magnets industry in the future.
Electric cars need traction system with high torque density and operation reliability and excellent toque control ability. In other words, electric cars are in need of neodymium magnets with high energy product, high coercive force and high working temperature. N42 magnets are the most popular magnets used in automobile motors. With rare metal, Dy, the working temperature can be increase to 400°C, which can meet the needs of cars. China high-end neodymium manufactures now are able to manufacture NdFeB permanent magnets that are used in cars, through operation with automobile and motor manufacturers. The products had been on trial of China and European and American car manufacturers and there are not any problems of technology and quality.
Neodymium needed by new energy cars is as follow. HEV: NdFeB used by each HEV is 3kg more than that of a traditional car. EV: There are two technology schemes. One is that rare earth permanent magnetic motors are used as engines. And each car needs 5-10kgs more. Another scheme is that a motor is installed in a wheel. In this way, each car consumes 10-20kgs of neodymium more.
It is expected by A.T.Kearney that there will thousands of millions of HEV in the world in 2020, which directly brings a demand 38 thousand tons of neodymium iron boron magnets per year. According to Kearney’s evaluation, in 2010, output of HEV covers 3% of global output of cars and in 2020, the output will hopefully increase to 75 million. In general, demand of NdFeB permanent magnets brought by new energy cars will reach 98 thousand tons a year. Nd used in a car is 70 dollars per kilogram, which means that in 2020 the neodymium market will reach 46.6 billion Yuan (according to 1 USD equaling to 6.77) RMB.
There is an explosive growth in new energy cars. It is expected that in 2020, market scale of China electric car Nd will exceed 20 billion Yuan. By that time, China market will demand 44 thousand tons of Nd a year. Price of electric car neodymium is 70 dollars/kg (according to 1 USD equaling to 6.77), therefore, in 2020, China market scale of electric car Neo is 20.8 billion Yuan.
From 1996 to 2008, industrial scale of global neodymium permanent magnet will increase from 900 million dollars to 3.6 billion dollars. According to our prediction, in 2020, only new energy cars will bring a demand of Neo with the value of 46.6 billion Yuan, which covers 60% of traditional demand. That is to say, new energy cars will become the most important market of NdFeB magnets industry in the future.
