Rare earth is China's advantage resource, accounting for more than 80% of the world's rare earth resource reserves. In 2021, the output of rare earth permanent magnetic materials will reach 100400 tons, an increase of 13.85% over the previous year; The output of NdFeB magnets was 44100 tons, up 14.11% from the previous year. At present, China is the world's largest producer of neodymium magnets and the largest consumer of neodymium magnets.

In 2021, the output of NdFeB magnets in China will be about 61200 tons, mainly distributed and used in permanent magnet motors, automobiles, household appliances and other fields. Among them, 42600 tons of NdFeB magnets for permanent magnet motors and 2800 tons of NdFeB magnets for other purposes; Neodymium iron boron magnets for automobiles account for more than 80% of the total production of rare earth magnetic materials.

According to the statistics of the International Association of Neodymium Magnets, the global output of neodymium magnets will be about 63500 tons in 2021. In recent years, China has been trying to expand the production of rare earth resources and develop other new application markets to improve the competitiveness of rare earth permanent magnet materials in the world.

At present, China has become one of the world's largest producers of NdFeB magnetic materials. In 2021, China produced 120600 tons of NdFeB magnetic materials, of which Ningbo, Xiamen and Suzhou ranked the top three.

In 2021, Ningbo neodymium magnetic output will reach 22400 tons; Xiamen neodymium magnetic output is 10600 tons; Suzhou neodymium magnetic output is 9500 tons.

From the view of the Chinese market, rare earth permanent magnet materials are mainly used in electric vehicles, hybrid electric vehicles and other fields; Permanent magnet motor is one of the products with the widest application range and the largest application amount of rare earth magnetic materials.