Praseodymium neodymium alloy is a metallic alloy of praseodymium and neodymium. It is a rare earth metal alloy that has unique properties. The alloy has a highly metallic nature and therefore has high magnetic strength and coercivity. The property of this alloy is well exploited in producing permanent magnets.
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The magnets produced find their application in various industries such as electronics, automotive, renewable energy, and medical devices. The alloy also has high heat and corrosion resistance which enhances its durability and reliability. The alloy is also ductile and can easily be molded into different forms and shapes.
Key Details About the Praseodymium neodymium alloy Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Praseodymium neodymium alloy price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
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The Praseodymium neodymium alloy Price chart, including India Iron price, USA Iron price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Praseodymium neodymium alloy Price Trend:
The praseodymium neodymium alloy has significant industrial uses because of its exceptional magnetic properties. The primary applications of this alloy are in the production of high-performance permanent magnets. These magnets are employed in electronics, automobiles, wind turbines, and medical devices. They form essential components of electric motors, generators, speakers, MRI machines, and computer hard drives. The alloy’s high heat and corrosion resistance increases its durability and reliability in diverse operating conditions. The alloy also has high ductility, useful in shaping it into different sizes for various industrial applications. With the ongoing technological advancements, improved efficiency and expanding applications of this alloy, it is estimated that its market will continue to grow exponentially.
Key Players:
- China Northern Rare Earth
- China Nonferrous Metal Mining Group
- Ganzhou Qiandong Rare Earth Group Co Ltd
- Sichuan JCC Rare Earth Metals
- Innuovi Magnetics
- Shanghai Heli Rare Earth Materials Co Ltd
News & Recent Development:
- February 22, 2023: Only rare earths miner in US to bypass China in supply deal with Sumitomo- MP Materials, owner of the Mountain Pass mine in California, plans to sell material from its separation plant to Sumitomo for distribution in Japan. MP Materials has signed a deal with Sumitomo Corp. to provide the Japanese manufacturer with some essential elements, such as neodymium and praseodymium, helping the trading house bypass China in EV rare-earth supply chains.
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