The NdFeB permanent magnet material market is developing rapidly, and the demand for praseodymium and neodymium oxide continues to rise.

Praseodymium and neodymium oxide, also known as praseodymium and neodymium oxide, is a rare earth mixture with the molecular formula (PrNd)xOy. It has a gray or tan powder appearance and is easy to absorb water and air. Praseodymium and neodymium oxide is the key raw material of metal praseodymium and neodymium (praseodymium and neodymium alloy). It can be formed into metal praseodymium and neodymium with a neodymium content of 75% and a praseodymium content of 25% after high-temperature melting and processing.

Praseodymium and neodymium oxide is an important type of light rare earth oxide, and rare earths are new functional materials with multiple properties such as electricity, light, and biology. They are used in metallurgy, petroleum, chemical industry, glass, ceramics, machinery, aviation, automobiles and other fields. It plays an important role and is known as the “vitamin of industry”. At present, rare earth materials are mainly used to generate new functional materials, such as rare earth permanent magnet materials, rare earth laser materials, rare earth hydrogen storage materials, etc. Rare earth permanent magnet materials are currently the largest application field of rare earth materials.

Praseodymium and neodymium oxide is a key raw material for NdFeB permanent magnet materials, the mainstream product in the rare earth permanent magnet material market. Currently, driven by the rapid development of the NdFeB permanent magnet material market, the demand for praseodymium and neodymium oxide continues to rise. NdFeB permanent magnet materials are widely used in new energy vehicles, consumer electronics, nuclear magnetic resonance imaging, wind power generation, aerospace and other fields. Driven by the rapid development of its application fields, its market is developing rapidly. According to data from the Ministry of Industry and Information Technology of China, the total output of NdFeB permanent magnet material blanks in 2021 reached 216,500 tons, a year-on-year increase of 16.4%. In this context, according to the “China’s Praseodymium and Neodymium Oxide Industry Market Monitoring and Future Development Prospects Research Report 2023-2027” released by the Industrial Research Center It shows that the domestic demand for praseodymium and neodymium oxide will reach 75,000 tons in 2021.

Praseodymium and neodymium oxide mainly exist in rock ore-type rare earth concentrates. About 7 tons of rock ore-type rare earth concentrates can produce 1 ton of praseodymium and neodymium oxide. As the demand for praseodymium and neodymium oxide continues to rise in my country, its market price continues to rise, which drives the production enthusiasm of enterprises to continuously increase and the output of praseodymium and neodymium oxide to continue to increase. In 2021, domestic production of praseodymium and neodymium oxide will be approximately 69,000 tons. The current supply and demand gap for praseodymium and neodymium oxide in my country is around 60,000 tons. In the future, under the background of rapid development of domestic praseodymium and neodymium oxide terminals in new energy vehicles, wind power and other fields, the supply and demand gap in my country’s praseodymium and neodymium oxide market will always exist in the short term.

Industrial analysis personnel said that as one of the new functional materials, NdFeB permanent magnet material has been It is widely used in national strategic emerging fields such as new energy vehicles, wind power, and consumer electronics, and the industry maintains high prosperity. As the key raw material for NdFeB rare earth permanent magnet materials, the demand for praseodymium and neodymium oxide continues to rise, and the industry shows good development prospects. However, the current supply side of praseodymium and neodymium oxide is still strictly controlled by national mining and smelting indicators, and the overall market supply and demand gap continues to exist. In the future, the domestic praseodymium and neodymium oxide industry will continue to optimize the development environment under the continuous regulation and rectification of the country.