| Product Code: ETC8630212 | Publication Date: Sep 2024 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Summon Dutta | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
Despite high concentration levels with top exporters being China, India, Netherlands, Belgium, and Germany, Nigeria`s neodymium magnet import shipments experienced a significant decline in 2024. The negative CAGR of -6.67% from 2020 to 2024, coupled with a steep growth rate decrease of -59.02% from 2023 to 2024, indicates a challenging market environment. Understanding the factors contributing to this decline and exploring strategies to revitalize the neodymium magnet import sector in Nigeria will be crucial for stakeholders in the industry.
![Nigeria Neodymium [Nd Fe B] Magnet Market Top 5 Importing Countries and Market Competition (HHI) Analysis](https://www.6wresearch.com/research-charts/nigeria-neodymium-nd-fe-b-magnet-market-top-5-importing-countries-and-market-competition-hhi-analysis.jpg)
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Nigeria Neodymium [Nd-Fe-B] Magnet Market Overview |
3.1 Nigeria Country Macro Economic Indicators |
3.2 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, 2021 & 2031F |
3.3 Nigeria Neodymium [Nd-Fe-B] Magnet Market - Industry Life Cycle |
3.4 Nigeria Neodymium [Nd-Fe-B] Magnet Market - Porter's Five Forces |
3.5 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.6 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Nigeria Neodymium [Nd-Fe-B] Magnet Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing demand for neodymium magnets in sectors like electronics, automotive, and renewable energy due to their high strength and magnetic properties. |
4.2.2 Increasing investments in infrastructure and industrial projects in Nigeria, driving the need for neodymium magnets. |
4.2.3 Technological advancements leading to the development of new applications for neodymium magnets, expanding the market opportunities. |
4.3 Market Restraints |
4.3.1 Fluctuating prices of rare earth metals, including neodymium, impacting the cost of production and pricing of neodymium magnets. |
4.3.2 Environmental concerns related to the extraction and processing of rare earth elements, leading to regulatory challenges. |
4.3.3 Competition from substitute materials or technologies that may offer similar functionalities at lower costs. |
5 Nigeria Neodymium [Nd-Fe-B] Magnet Market Trends |
6 Nigeria Neodymium [Nd-Fe-B] Magnet Market, By Types |
6.1 Nigeria Neodymium [Nd-Fe-B] Magnet Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, By Product Type, 2021- 2031F |
6.1.3 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, By Bonded NdFeB Magnet, 2021- 2031F |
6.1.4 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, By Sintered NdFeB Magnet, 2021- 2031F |
6.1.5 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, By Others, 2021- 2031F |
6.2 Nigeria Neodymium [Nd-Fe-B] Magnet Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, By Consumer Electronics, 2021- 2031F |
6.2.3 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, By Automotive, 2021- 2031F |
6.2.4 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, By healthcare, 2021- 2031F |
6.2.5 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, By Energy- Mining, 2021- 2031F |
6.2.6 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenues & Volume, By Others, 2021- 2031F |
7 Nigeria Neodymium [Nd-Fe-B] Magnet Market Import-Export Trade Statistics |
7.1 Nigeria Neodymium [Nd-Fe-B] Magnet Market Export to Major Countries |
7.2 Nigeria Neodymium [Nd-Fe-B] Magnet Market Imports from Major Countries |
8 Nigeria Neodymium [Nd-Fe-B] Magnet Market Key Performance Indicators |
8.1 Average selling price (ASP) of neodymium magnets in Nigeria. |
8.2 Adoption rate of neodymium magnets across key industries in Nigeria. |
8.3 Percentage of neodymium magnet imports compared to domestic production in Nigeria. |
9 Nigeria Neodymium [Nd-Fe-B] Magnet Market - Opportunity Assessment |
9.1 Nigeria Neodymium [Nd-Fe-B] Magnet Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.2 Nigeria Neodymium [Nd-Fe-B] Magnet Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Nigeria Neodymium [Nd-Fe-B] Magnet Market - Competitive Landscape |
10.1 Nigeria Neodymium [Nd-Fe-B] Magnet Market Revenue Share, By Companies, 2024 |
10.2 Nigeria Neodymium [Nd-Fe-B] Magnet Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |