NdFeB Rare Earth Magnets

China's pioneering NdFeB magnet producer (SHEX: 000970); first company to achieve industrialized NdFeB production in China. Headquartered in Ningbo region, Zhejiang Province. ~16.4% global high-performance NdFeB segment market share. 2025 net profit +660% YoY to 91.32 million yuan (revenue 6.641B yuan) — benefited directly from China's April 2025 export licensing controls which constrained competitors' export access while Zhong Ke San Huan retained licenses. Primary supplier to EV manufacturers, wind turbine OEMs, and precision equipment makers.

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.

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.

Chinese magnet manufacturer part of Hengdian Group conglomerate (SHEX: 002127); 15,000-20,000 tonnes/year NdFeB magnet capacity. Direct supplier to Tesla, Brose, Panasonic, Cooper, and Nidec. Also produces ferrite magnets and batteries. Hengdian Group is best known in China for owning Hengdian World Studios — the world's largest film production base — making DMEGC a subsidiary of a Chinese movie studio that also supplies EV magnets to Tesla.

Chinese NdFeB and SmCo magnet producer (SSE STAR: 688077) established 2003 in Lujiang, Anhui Province. Products: sintered NdFeB, samarium-cobalt (SmCo) magnets, and magnetic components for aerospace, automotive, renewable energy, and 3C electronics. Received early export licenses under China's April 2025 controls; supplies Volkswagen and European OEM customers. SmCo production is particularly relevant for defense and high-temperature aerospace applications.

TDK Corporation (Tokyo; TYO: 6762; ~¥2.1T revenue) is a Japanese electronic components manufacturer — historically known for magnetic recording materials, ferrite cores, capacitors, and inductors — that became a major battery company via its 2005 acquisition of ATL (Amperex Technology Limited). TDK's Energy Application Products segment (which includes ATL and TDK's own battery brands) represents approximately 30-35% of TDK group revenue. TDK also manufactures lithium-ion cells under the CeraCharge and TDK brand for small-format applications (IoT sensors, wearables, hearing aids). Combined ATL+TDK represents more than 50% of Apple's annual iPhone battery cell supply. TDK's other major businesses include MEMS sensors (barometric pressure, magnetic), power supplies, and noise suppression components — all supplied to the same consumer electronics OEMs that buy ATL cells.

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.