Neodymium-Iron-Boron Magnets (NdFeB)

Chinese sintered NdFeB magnet manufacturer (SZSE: 300748, HK: 6680) headquartered in Ganzhou, Jiangxi Province — the center of China's heavy rare earth industry. 25,000 tonnes/year capacity as of 2024 (doubled from 13,000 tonnes in 2022). Specializes in high-performance N54-grade magnets for EV motors rated to +200°C operating temperature. One of China's 'six leading magnet producers'; received early export licenses under April 2025 controls. Primary EV and wind turbine magnet supplier for Chinese and global automotive OEMs.

Operator of Mountain Pass, California — the only US rare earth mine and the largest rare earth mine outside of China. Produces rare earth concentrate (bastnasite ore) with ~15% of global rare earth ore production. As of 2024, still shipping concentrate to China (Shenghe Resources, a major MP investor) for separation into NdPr oxide. On-site solvent extraction (SX) separation plant being commissioned at Mountain Pass to enable US-based separation. MP Materials also building a rare earth magnet manufacturing facility in Fort Worth, Texas. Mountain Pass was the world's dominant rare earth mine until Chinese competition drove Molycorp (predecessor) bankrupt in 2015.

Shin-Etsu Chemical Co., Ltd. (Tokyo; TSE: 4063; ~¥2.3 trillion revenue) is Japan's second-largest EUV photoresist supplier, holding approximately 20-25% of the EUV photoresist market through its SEPR (Shin-Etsu Polymer Resist) product line. Primary EUV resist production at Niigata and Gunma facilities in Japan. The same parent company is the world's largest polyvinyl chloride (PVC) producer, the world's largest silicon wafer producer (through Shin-Etsu Silicones/SEH), and a major hydroxypropyl methylcellulose (HPMC) pharmaceutical excipient manufacturer. Shin-Etsu's photoresist was among the materials covered by Japan's July 2019 export controls targeting South Korea, as fluorinated polyimide — a resist ancillary material — was one of the three restricted chemicals.

German specialty magnetic materials producer; one of two major non-Asian NdFeB producers at scale. Revenue ~€600M (2024). Operates Hanau plant and Póvoa de Varzim (Portugal) facility. Supplies European automotive (BMW, Mercedes, Volkswagen) and wind turbine (Siemens Gamesa, Enercon) applications. VAC is strategically important to EU rare earth independence plans; received EU funding for European magnet supply chain. Private; owned by private equity (Advent International).

Largest NdFeB permanent magnet producer in China and the world. State-affiliated; partly owned by Chinese Academy of Sciences (CAS). Revenue ~¥8B (2024). Produces ~30,000 MT/yr of sintered NdFeB magnets for EV motors, wind turbines, and consumer electronics. Pioneered the original Sanhuan process and holds key patents in China. Critical to Siemens Gamesa, Vestas, and most Chinese wind turbine OEMs.