Golden Opportunity for NdFeB Magnets due to the Rise of Electric Bicycle in China

摘要

Since the middle of 1990s, market demand of NdFeB increased significantly. Due to production expansion of NdFeB, its sales price reduced sharply. The global economy recession made NdFeB magnet industry even worse, such situation will last until 2005. On the other hand, price reduction eliminates the barrier for using NdFeB, it makes many new applications such as motors, especially electric vehicle (EV), hybrid car, power generators and magnetic refrigerator. They are becoming major applications for NdFeB, while it was impossible due to the high price of NdFeB in the past. In order to show the quick expansion of NdFeB, some examples will be taken from recent applications of NdFeB magnets in Chinese market.