Japan's permanent magnet market is witnessing consistent growth fueled by technological innovation, advancements in renewable energy, and a strong automotive sector. Renowned for its leadership in electronics and manufacturing, Japan plays a significant role in both the production and use of permanent magnets-particularly rare-earth types like NdFeB, which are essential for a broad range of applications.
According to the Japan Electronics and Information Technology Industries Association (JEITA), the electronics industry recorded a production value of approximately US$7.1 billion in November 2022. In the following month, Japan’s electronics exports totaled around US$8.4 billion.
The country’s focus on expanding renewable energy, especially wind power, is a major factor boosting demand for permanent magnets. As Japan progresses toward its goal of achieving carbon neutrality by 2050, the demand for sustainable energy technologies-and, by extension, permanent magnets-is expected to grow steadily in the coming years.
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