Neodymium Oxide Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Neodymium Oxide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Neodymium Oxide Price Trend for the Second Half of 2023

Neodymium oxide finds extensive industrial applications majorly in the automotive sector. It is a key component in the production of neodymium-based permanent magnets, which are essential in various sectors such as electronics, automotive manufacturing, wind turbines, and medical devices. These magnets are popular for their strength and stability, making them indispensable in electric motors for vehicles, generators, computer hard drives, and numerous other applications where powerful, compact magnets are required.

Neodymium Oxide Price Chart

Neodymium Oxide Price Trends and Forecast

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In the second half of 2023, the Asian neodymium oxide prices experienced a rebound, driven by increasing demand from electric vehicles and wind power, coupled with China's expected reduction in expanding output. The expansion in the prices of neodymium oxide was based on the rise in the rate of procurement and slowed down rates of production due to an increase in the environmental restrictions over mining activities in Asian countries.

However, during the end phase of the year, the prices of neodymium oxide began to stable as China increased its production expenditures as per the demand from the domestic and overseas end-user industries. This is further expected to equalize the supply-demand equilibria but only in the Asian countries as the dynamics of the European and American region are estimated to be based on the trading activities that were altered by the ongoing Israel-Hamas crises in the last quarter of 2023.

Analyst Insight

According to Procurement Resource, the price of Neodymium Oxide is estimated to move positively in the upcoming quarters as the expansion of automotive industries and limited mining output will favor the rise in neodymium oxide prices.

Neodymium Oxide Price Trend for the First Half of 2023

Neodymium oxide is a member of oxides of rare earth metals which possess high thermal stability and insolubility in water. It is a central component in the production of neodymium-based magnets that are heavily employed in electronics, automotive, and renewable energy. These industries, thus, also dictate the direction of the price trend of neodymium oxide.

In the first two quarters of 2023, the market for neodymium oxide or rare earth metals faced oscillations due to disruptions in the supply and demand equilibria around the globe. The demand for neodymium oxide fell consistently in the first and second quarters as the renewable energy and automotive industries struggled to find their pace. The magnets, combustion engines, and global wind energy sector combined weakened the market activities of neodymium oxide as they themselves suffered with low number of sales, resulting in the uneven pattern in the price trend of neodymium oxide.

Analyst Insight

According to Procurement Resource, the price of Neodymium Oxide is estimated to fluctuate as the high supply of neodymium oxide is not matched by sufficient demand from the downstream industries.

Procurement Resource provides latest prices of Neodymium Oxide. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About

Neodymium oxide is a silvery-white, thermally stable compound insoluble in water. It is mainly used in making ceramics and has applications in electrochemical fuel cells.

Product Details

Report Features Details
Product Name Neodymium Oxide
Industrial Uses Magnets, glasses, goggles, lasers, as polymerization catalyst
Chemical Formula Nd2O3
CAS Number 1313-97-9
Synonyms neodymium sesquioxide
Molecular Weight 336.48 g/mol
Supplier Database Hubei Jusheng, China Minmetals Rare Earth, Qiandong Group, Neostar United
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


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Production Processes

Neodymium oxide is obtained via the calcination of Neodymium oxalate. The raw ores of bastnaesite/monazite undergo mining, grinding, magnetic separation, beneficiation, sulfating, and roasting to form RE sulfate, which undergoes hydro metallurgy followed by solvent extraction and precipitation to form Neodymium oxalate, which, when calcined gives Neodymium oxide.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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