Rare earth permanent magnetic materials are the largest consumer of rare earths. The most mature rare earth permanent magnetic materials currently used are neodymium iron boron permanent magnetic materials (NdFeB), whose rare earth composition includes about 30% neodymium praseodymium and 2% dysprosium. NdFeB permanent magnetic materials are widely used in energy-saving and environmental protection fields such as wind power, energy-saving home appliances, automotive power steering systems (EPS), and new energy vehicles. In addition, it is also used in electronic consumer fields such as hard disk voice coil motors (VCM), optical disc drives, micro-special motors, and traditional fields such as electro-acoustic equipment, magnetic separators, power tools, and MRI.

Neodymium iron boron are mainly used in direct-drive motors of wind power. The field of wind power is a relatively new application field of neodymium iron boron permanent magnetic materials. The amount of neodymium iron boron used in wind power motors is relatively large. A 1.5MW direct drive wind power motor requires about 1 ton of neodymium iron boron permanent magnetic materials. . The annual consumption of rare earth permanent magnetic materials exceeds 40,000 tons.

The development of new energy vehicles is the main engine for the new demand for NdFeB. Significantly increased the demand for neodymium iron boron. On average, the neodymium iron boron required for each new energy vehicle motor are about three times that of traditional power vehicles, and the annual consumption of neodymium iron boron exceeds 10,000 tons. NdFeB permanent magnetic materials are mainly used in the following parts of automobiles: sunroof motor, electric antenna motor, door lock motor, LCD level indicator, horn, air conditioning motor, suspension system, anti-fog system, traction control, electric window, mirror motor, Oil pump motor, starter motor, seat adjustment motor.

NdFeB permanent magnetic materials are mainly used in compressors of inverter air conditioners in the field of energy-saving home appliances. Due to the high cost sensitivity, currently high-end inverter air conditioners mainly use neodymium iron boron permanent magnetic materials, and air conditioners using neodymium iron boron have advantages in energy efficiency. Each air conditioner needs about 0.25 kilograms of NdFeB permanent magnetic materials, and consumes more than 20,000 tons of NdFeB per year.

The application of neodymium iron boron permanent magnetic materials in smart phones, the speakers and vibration motors in each smart phone require approximately 1 gram of neodymium iron boron permanent magnetic materials, and the annual consumption of neodymium iron boron exceeds 5,000 tons.

In order to meet the needs of the market, NdFeB magnetic material manufacturers and factories are striving to develop new applications, such as electric vehicles, intelligent robots, automation systems, and so on.