Analysis of the industrial chain of China's Ndfeb permanent magnet industry in 2021: the market demand for Ndfeb permanent magnet under the background of "carbon neutral" era will usher in an explosion

2021年中国钕铁硼永磁行业产业链分析：“碳中和”时代背景下钕铁硼永磁市场需求将迎来爆发式增长I. Industrial chain structure   Ndfeb permanent magnet material is a kind of rare earth permanent magnet material, due to its excellent magnetic and can be mass industrial production, since was found, ndfeb permanent magnet material is widely used in wind power, energy saving motor, smart appliances, speakers, new energy vehicles and auto parts, intelligent consumer electronics, industrial robot, electric tools, instruments and meters and other fields.   Second, upstream industry   The upstream industries of Ndfeb permanent magnet industry include rare earth industry, industrial equipment production industry, chemical agent industry, etc. Among them, the situation of rare earth industry has an important impact on the production of Ndfeb permanent magnet.   Global rare earth extraction is increasing year by year. China's share of global rare earth mining has declined in recent years, but it remains the world's largest producer.   China still accounted for 60% of global rare earth production in 2021, up 20% year on year. In 2021, the global rare earth mining volume was 280,000 tons, an increase of 16.67% year-on-year.   From 2016 to 2021, China's rare earth extraction and rare earth smelting and separation showed an increasing trend. In 2021, China mined 168,000 tons of rare earth, up 20% year on year; The smelting and separation of rare earth was 162,000 tons, up 20 percent year on year.   On January 27, 2022, the Ministry of Industry and Information Technology issued the first batch of total control targets for rare earth mining, smelting and separation in 2022, which were 108,000 tons and 97,200 tons respectively, up 20% year on year.   Third, midstream industry   Among them, rare earth magnetic materials, sintered Ndfeb rough production of 207,100 tons, a year-on-year increase of 16%; Bonded NdFeb production 9380 tons, year-on-year growth of 27.2%.   From 2018 to 2021, the market demand for China's Ndfeb permanent magnet has increased year by year, and the import volume of China's Ndfeb permanent magnet only accounts for about 3.5% of the market. In 2021, the apparent demand of China's Ndfeb permanent magnet market reached 219,100 tons, an increase of 11.80% year-on-year.   From 2018 to 2021, the production of China's Ndfeb permanent magnet tends to increase year by year. According to the data of the Ministry of Industry and Information Technology, in 2021, the production of China's main rare earth functional materials maintained a steady growth, the total output of Ndfeb permanent magnet was 219,400 tons, an increase of 11.82%; The yield of sintered Ndfeb rough billet was 207,100 tons, an increase of 16.00%, accounting for 94.39% of China's total NdFeb permanent magnet production; Bonded NdFeb production of 94 thousand tons, an increase of 27.20%. In the first quarter of 2022, China's sintered Ndfeb blank production is 68,500 tons; Bonded NdFeb production is 0.25 million tons.   From 2018 to 2021, the output of China's Ndfeb permanent magnet materials increased steadily. In 2020, China's sintered Ndfeb production growth rate decreased, bonded NdFeb production showed negative growth. In 2021, China's sintered Ndfeb production growth rate increased, bonded NdFeb production rose significantly year-on-year. In 2022, China's production of Ndfeb permanent magnet materials is expected to maintain a steady growth rate.   In 2021, the export volume of China's Ndfeb quick-setting permanent magnet and Ndfeb magnetic powder was 2603975 million US dollars, an increase of 141.42% year on year; The trade gap between imports and exports was $254.461 million, up 148.75 percent year-on-year. In 2021, the import value of China's Ndfeb alloy was $8.136,900, a year-on-year increase of 21.59%; The export volume was 11,710,500 dollars, up 113.66% year on year. The demand for NdFeb permanent magnet in the Chinese market is further improved.   Fourth, downstream industry analysis   The application industries of Ndfeb permanent magnet materials are new energy vehicles, traditional cars, energy-saving frequency conversion air conditioning, wind power generation, energy-saving motor and so on. The automotive industry is one of the major industries for magnetic materials application, with traditional vehicles and new energy vehicles together accounting for about 50% of the magnetic materials application market.   New energy automobile industry is one of the main applications of Ndfeb permanent magnet materials. In recent years, Chinese society has responded to the call of the country and advocated green life, and China's new energy vehicle industry has developed rapidly. In 2021, the production of new energy vehicles in China reached 3.545 million, up 159.52% year on year; Sales reached 3.521 million units, up 157.57 percent year on year. With the development of new energy automobile industry, the market demand for Ndfeb permanent magnet materials is further expanding. In the future, under the national advocacy economy, the demand for Ndfeb permanent magnet materials in the Chinese market will be further increased.   The application prospect of new energy vehicles is very broad. According to the goal of "Energy saving and new Energy Vehicle Technology Roadmap 2.0", the penetration rate of new energy vehicles in China will be 20% by 2025, 40% by 2030 and 50% by 2035. According to the data released by the association, in 2021, the penetration rate of new energy vehicles reached 14.8%, which was significantly improved compared with 5.8% in 2020.   From 2011 to 2013, China's wind power generation surged year by year, with a year-on-year growth rate of about 30%. From 2014 to 2020, although the growth rate of wind power generation in China has slowed down, the wind power generation still shows an increasing trend year by year. China's wind power generation surged again in 2021, reaching 566.7 billion KWH, up 36.69 percent year-on-year. From January to May 2022, China's cumulative wind power generation capacity was 287.6 billion KWH.   Ndfeb permanent magnet material is one of the necessary materials for the construction of wind turbine. With the development of wind power generation in China, the market demand for Ndfeb permanent magnet material will be higher and higher.   Under the background of "carbon neutral" era, the trend of electrification is clear, Ndfeb permanent magnet as a green material, the market demand will increase year by year.

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