Neodymium Market: Overview

Neodymium is a rare earth metal with the symbol ‘Nd’ having an atomic number 60. The metal is soft and silvery in nature and tarnishes when exposed to air. Neodymium is present in large quantities in various ore minerals such as monazite bastnasie. The element is not present naturally in metal form and is always refined for general use. Although, neodymium is referred to as a rare earth metal it is a common element and is found largely in the earth’s crust.  The original color of neodymium is reddish purple, but changes based on the lighting used owing to its fluorescent effects.

Neodymium compounds are employed commercially in glass dyes and are used as an additive in the manufacture of glass. Moreover, neodymium is employed in lasers, which emit infrared light with wavelengths that range from 1047 nanometers to 1062 nanometers. These lasers are used largely in a variety of high power applications, such as experiments in a process known as inertial confinement fusion. Additionally, neodymium is employed as one of the components in alloys, which are used in the manufacture of powerful permanent magnets. These magnets are used in various electrical and electronic products including microphones, in-ear headphones, loudspeakers, computer hard disks etc.

Neodymium Market: Drivers and Trends

The key drivers of the neodymium market are its use in the glass and ceramics industry. The use of glass for various applications including as a packaging material, crockery, spectacles etc. is expected to drive the glass market during the forecast period. This in turn is anticipated to boost the market for neodymium over the next few years. In addition, increase in construction activities in various regions has been driving the ceramics and glass market in the past years.

The rising demand for new residential houses and buildings has been boosting the glass and ceramic tile market. This will in turn boost the market for neodymium during the projected period. In addition, its use as a magnet in various end use industries such as electrical and electronics industry is expected to drive the market for neodymium during the forecast period.  Neodymium is one the most costly metals among the rare earth metals and therefore has very few commercial uses. The cost factor can be a major restraint for the neodymium market.

Neodymium Market: Region-wise Outlook

The key regions present in the neodymium market include North America, Europe, Asia Pacific and Rest of the World (RoW). The demand for glass and ceramics is expected to be the highest in the Asia Pacific region owing to the increasing number of residential and commercial constructions in the region especially in growing economies like India and China. This in turn is expected to boost the market for neodymium over the next few years.

In addition, the packaging market has been driving the market for glass in the past and this trend is likely to continue during the forecast period. This will further act as a driver for the neodymium market. Furthermore, North America follows Asia Pacific owing to new construction projects that are being taken on especially in the state New York. Commercial buildings in North America prefer the usage of glass in their construction projects. This is anticipated to drive the neodymium market in the North American region during the projected period.

Neodymium Market: Key Players

The key companies present in the neodymium market include Chemicool Ltd., American Elements: The Material Science Company etc. A number of new players are emerging in the neodymium market and high investments are being made my companies to develop new technologies in order to commercialize neodymium even further.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Neodymium Market

Pre Book