
Global Neodymium Iron Boron Magnet Market Insights, Size, and Forecast By Magnet Grade (N35, N42, N52, N38, N40), By Magnet Shape (Block, Disc, Ring, Sphere, Custom Shapes), By End Use Industry (Automotive, Electronics, Healthcare, Renewable Energy, Aerospace), By Application (Electric Motors, Hard Drives, Magnetic Resonance Imaging, Wind Turbines, Speakers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Key Companies, Competitive Analysis, Trends, and Projections for 2026-2035
Key Market Insights
Global Neodymium Iron Boron Magnet Market is projected to grow from USD 22.8 Billion in 2025 to USD 45.3 Billion by 2035, reflecting a compound annual growth rate of 8.6% from 2026 through 2035. The Neodymium Iron Boron NdFeB magnet market encompasses the global production, distribution, and consumption of rare earth permanent magnets renowned for their exceptional strength and magnetic properties. These magnets are critical components in numerous high technology applications requiring strong magnetic fields in compact forms. Key market drivers include the accelerating global shift towards electric vehicles EVs, the expansion of renewable energy infrastructure particularly wind turbines, and the continuous miniaturization and performance enhancement of electronic devices. The superior magnetic strength of NdFeB magnets compared to alternatives makes them indispensable for maximizing efficiency and power in these applications. Ongoing technological advancements in magnet manufacturing, such as improved production techniques for higher heat resistance and reduced rare earth content, are significant trends shaping the market. However, market restraints include the volatility of rare earth element prices, geopolitical risks associated with rare earth mining and processing, and environmental concerns related to extraction and recycling processes. Opportunities for growth lie in the development of more sustainable production methods, the exploration of new application areas in robotics and advanced automation, and the increasing demand for high performance magnets in emerging economies. The market is segmented by Application, End Use Industry, Magnet Shape, and Magnet Grade, reflecting its diverse utility across various sectors.
Global Neodymium Iron Boron Magnet Market Value (USD Billion) Analysis, 2025-2035

2025 - 2035
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Asia Pacific stands as the dominant region in the global NdFeB magnet market. This dominance is primarily driven by the presence of major rare earth mining and processing facilities, coupled with a robust manufacturing base for electronics, automotive, and wind power industries. The region also benefits from substantial government support and investment in high tech manufacturing and renewable energy initiatives. Furthermore, a large consumer base and increasing disposable incomes contribute to the rapid adoption of advanced electronic devices and electric vehicles, fueling demand for NdFeB magnets. Asia Pacific is also the fastest growing region, driven by continuous industrialization, rapid urbanization, and an expanding middle class. Significant investments in infrastructure development, coupled with the escalating demand for energy efficient solutions and smart technologies, are propelling this growth. The region’s proactive approach to adopting electric mobility and renewable energy solutions further solidifies its position as a key growth engine for the NdFeB magnet market.
Key players in the Global Neodymium Iron Boron Magnet Market include MMC Magnetics, Magnequench, Bunting Magnetics, Cobalt, Sandvik, Adams Magnetic Products, Magneti Ljubljana, ShinEtsu Chemical, Hitachi Metals, and Electronic Business Machines. These companies employ various strategic initiatives to maintain and expand their market presence. Common strategies include significant investments in research and development to enhance magnet performance, reduce production costs, and explore novel applications. Furthermore, many players are focusing on vertical integration to secure their supply chains for rare earth materials, thereby mitigating price volatility and geopolitical risks. Strategic partnerships and collaborations with end use manufacturers are also prevalent, ensuring consistent demand for their products. Expansion into emerging markets, particularly within the Asia Pacific region, through mergers, acquisitions, and new facility establishments, is another key strategy. Companies are also prioritizing the development of magnets with improved thermal stability and corrosion resistance to meet the evolving demands of advanced applications.
Quick Stats
Market Size (2025):
USD 22.8 BillionProjected Market Size (2035):
USD 45.3 BillionLeading Segment:
Electric Motors (45.2% Share)Dominant Region (2025):
Asia Pacific (88.2% Share)CAGR (2026-2035):
8.6%
Global Neodymium Iron Boron Magnet Market Emerging Trends and Insights
Sustainable Sourcing Innovations Drive Market Growth
Growing environmental consciousness and demand for ethically produced goods are compelling magnet manufacturers to prioritize sustainable sourcing for neodymium. Innovations in this area, like advanced recycling techniques for end of life magnets and industrial waste, are gaining significant traction. These methods reduce reliance on virgin rare earth mining, which often carries substantial environmental and social costs. Furthermore, the development of novel extraction processes that minimize water and chemical usage is attracting investment. Supply chain transparency initiatives, often leveraging blockchain, allow companies to verify the origin of their rare earths, reassuring customers and meeting regulatory requirements. These sustainable sourcing innovations are not merely compliance measures; they are becoming key differentiators, enhancing brand reputation and driving market share among buyers increasingly focused on responsible and resilient supply chains.
Miniaturization Demands Propel Advanced Magnet Development
Miniaturization trends across various high tech sectors are significantly boosting the demand for advanced neodymium iron boron magnets. As devices shrink, from smartphones and drones to medical implants and electric vehicle motors, they require powerful yet smaller and lighter magnetic components. This intensifies the need for magnets with superior magnetic properties, including higher coercivity and remanence, even at elevated temperatures. Manufacturers are investing in research and development to produce smaller, more efficient, and temperature stable magnets capable of delivering equivalent or enhanced performance in reduced footprints. This push for ever smaller, more potent magnetic solutions is a primary driver behind innovation and development within the global neodymium iron boron magnet market.
EV Adoption Accelerates High Performance Magnet Demand
Electric vehicle adoption is rapidly accelerating globally, driven by their increasing performance demands. To achieve higher efficiency and power in EV motors, manufacturers are turning to advanced permanent magnets. Neodymium iron boron magnets, specifically high performance grades, are crucial for these next generation motors due to their superior magnetic properties and thermal stability. As EV technology advances, requiring smaller yet more powerful motors, the demand for these specialized magnets intensifies. This surge is not merely for more magnets, but for magnets exhibiting higher coercivity and improved temperature characteristics, essential for meeting the stringent demands of high performance electric vehicles, thus boosting the global neodymium iron boron magnet market.
What are the Key Drivers Shaping the Global Neodymium Iron Boron Magnet Market
Electrification & EV Revolution
The global neodymium iron boron magnet market is significantly driven by the widespread adoption of electrification and the ongoing electric vehicle revolution. Electric vehicles heavily rely on these powerful magnets for their traction motors, a critical component that converts electrical energy into motion. As nations worldwide accelerate their transition to renewable energy sources and cleaner transportation, the demand for electric vehicles continues to surge. This escalating demand directly translates into a substantial increase in the need for neodymium iron boron magnets, essential for the efficient operation and performance of these increasingly popular vehicles. The expansion of charging infrastructure and supportive government policies further fuel this electrification trend, amplifying its impact on magnet consumption.
Renewable Energy Transition
The global shift towards clean energy sources is a primary driver for the Neodymium Iron Boron magnet market. Renewable energy technologies like wind turbines and electric vehicles are experiencing unprecedented growth. Wind turbines rely heavily on Neodymium Iron Boron magnets for their generators, ensuring efficient energy conversion. Similarly, electric vehicles, including hybrid and battery electric cars, utilize these powerful magnets in their motors, enhancing performance and range. As countries commit to decarbonization goals and adopt more renewable energy solutions, the demand for these crucial magnets will continue to escalate. This transition fuels the need for high performance, lightweight magnetic materials, directly impacting the Neodymium Iron Boron market's expansion.
Advanced Electronics Miniaturization
Advanced Electronics Miniaturization propels the global Neodymium Iron Boron magnet market by demanding smaller, yet more powerful magnetic components across various devices. As consumer electronics like smartphones, smartwatches, and laptops continue to shrink in size while enhancing functionality, the need for compact, high performance magnets becomes paramount. These magnets are crucial for miniature speakers, vibration motors, camera stabilization systems, and haptic feedback mechanisms, enabling sleeker designs and improved user experience. Furthermore, miniaturization extends to industrial applications such as drones, robotics, and medical devices, where space is restricted, and efficient magnetic solutions are essential for motors, actuators, and sensors. This persistent drive for smaller, more efficient electronics directly fuels the demand for high strength Neodymium Iron Boron magnets.
Global Neodymium Iron Boron Magnet Market Restraints
Geopolitical Tensions and Supply Chain Vulnerabilities for Rare Earths
Geopolitical tensions pose a significant restraint on the global neodymium iron boron magnet market. Rare earth elements, particularly neodymium and praseodymium essential for these magnets, are predominantly sourced from a few countries. Any disruption in this concentrated supply due to trade disputes, political instability, or export restrictions in key producing nations can severely impact the availability of these critical raw materials.
Such tensions heighten supply chain vulnerabilities. Manufacturers face increased risk of price volatility, extended lead times, and even complete supply shortages. Diversification of sourcing is challenging and capital intensive. This uncertainty discourages investment, slows innovation, and forces companies to seek less effective or more expensive alternatives, thereby hindering market growth and stability. The reliance on a limited geopolitical footprint for rare earths creates an inherent fragility.
Environmental Regulations and Permitting Challenges for Neodymium Mining
Environmental regulations and permitting challenges pose significant obstacles to the global neodymium iron boron magnet market. Extracting neodymium, a key component, is energy intensive and generates hazardous waste. Stringent environmental impact assessments, lengthy permitting processes, and the need for costly remediation strategies delay new mining projects. Countries with rich deposits often have robust environmental protection laws, increasing compliance costs and extending lead times for extraction. This regulatory burden can restrict the supply of raw neodymium, leading to price volatility and potential shortages for magnet manufacturers. The increased time and expense associated with navigating these environmental hurdles deter investment in new mining operations, ultimately hindering the market's growth and stability.
Global Neodymium Iron Boron Magnet Market Opportunities
Powering the Green Transition: Neodymium Magnets in EVs and Renewable Energy Systems
The global shift towards a greener future presents a profound opportunity for neodymium iron boron magnets. As nations prioritize sustainable solutions, the demand for these high performance magnets is accelerating across two critical sectors: Electric Vehicles (EVs) and renewable energy systems.
EVs rely heavily on neodymium magnets for their powerful and efficient electric motors. These magnets enable lighter, more compact, and energy efficient vehicle designs, driving adoption and performance improvements vital for decarbonizing transportation.
Simultaneously, the rapid expansion of renewable energy infrastructure, especially wind power generation, creates substantial demand. Wind turbines utilize neodymium magnets in their generators to maximize energy capture and ensure reliable operation, acting as a cornerstone for clean electricity production.
This dual impetus from electrified transport and green energy generation positions neodymium iron boron magnets as an indispensable component of the global green transition. The inherent magnetic strength and efficiency offered by these materials make them crucial enablers for achieving ambitious sustainability goals worldwide, fostering robust growth for the magnet market.
Strengthening NdFeB Magnet Supply Chains Through Recycling and Regional Production
The global NdFeB magnet market presents a significant opportunity to enhance supply chain resilience. Current dependencies on concentrated rare earth mining and processing create vulnerabilities susceptible to geopolitical and economic disruptions. Strengthening these crucial supply chains can be achieved through a dual strategy of robust recycling and expanded regional production.
Recycling end-of-life NdFeB magnets offers a sustainable solution, reclaiming vital rare earth elements. This reduces reliance on virgin materials, mitigates price volatility, and supports a circular economy, aligning with global environmental objectives. It transforms waste into a valuable resource, bolstering material security.
Concurrently, establishing regional production facilities diversifies manufacturing geographically. This strategy shortens lead times, reduces shipping costs, and creates local jobs, fostering economic stability in regions with high demand, such as for electric vehicles and renewable energy. Regionalization builds resilience against unforeseen global events and strengthens local industrial ecosystems. This combined approach cultivates a more secure, sustainable, and independent NdFeB magnet supply chain essential for future technological advancements and economic growth worldwide.
Global Neodymium Iron Boron Magnet Market Segmentation Analysis
Key Market Segments
By Application
- •Electric Motors
- •Hard Drives
- •Magnetic Resonance Imaging
- •Wind Turbines
- •Speakers
By End Use Industry
- •Automotive
- •Electronics
- •Healthcare
- •Renewable Energy
- •Aerospace
By Magnet Shape
- •Block
- •Disc
- •Ring
- •Sphere
- •Custom Shapes
By Magnet Grade
- •N35
- •N42
- •N52
- •N38
- •N40
Segment Share By Application
Share, By Application, 2025 (%)
- Electric Motors
- Hard Drives
- Magnetic Resonance Imaging
- Wind Turbines
- Speakers

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Why is Electric Motors the dominating application in the Global Neodymium Iron Boron Magnet Market?
Electric motors command a significant share due to their extensive use across various industries requiring efficient and powerful compact motors. These magnets offer superior magnetic properties, enabling smaller, lighter, and more energy-efficient motors crucial for electric vehicles, industrial automation, and consumer electronics. The increasing demand for electrification and performance optimization in these applications directly fuels the high adoption of Neodymium Iron Boron magnets, establishing Electric Motors as the primary driver for market growth.
How does the Automotive end use industry impact the Neodymium Iron Boron Magnet Market?
The Automotive industry is a critical end use sector, largely driven by the rapid proliferation of electric vehicles and hybrid electric vehicles. Neodymium Iron Boron magnets are indispensable for traction motors, power steering systems, and various other components that demand high power density and efficiency within a compact design. As global regulations push towards lower emissions and greater fuel efficiency, the automotive sector's reliance on advanced magnetic materials intensifies, thereby significantly contributing to the overall market expansion for these high strength magnets.
What role do higher magnet grades play in shaping market demand?
Higher magnet grades like N52 and N42 are increasingly pivotal, reflecting a market trend towards enhanced performance and miniaturization. These grades offer superior magnetic strength and thermal stability, allowing manufacturers to create more powerful and compact devices. Industries such as electric motors, wind turbines, and high performance electronics frequently demand these advanced grades to optimize efficiency and reduce size and weight, pushing demand towards premium magnet formulations for next generation applications.
Global Neodymium Iron Boron Magnet Market Regulatory and Policy Environment Analysis
The global neodymium iron boron magnet market operates within an intricate regulatory framework largely driven by geopolitical interests and critical mineral supply chain resilience. China's long standing dominance in rare earth mining and processing prompts considerable strategic policy formulation by Western governments. The United States and European Union actively pursue initiatives to diversify rare earth sourcing and establish domestic processing, including significant subsidies and R&D investment. Export controls and tariffs, particularly from China, influence trade flows and technology transfer. Environmental regulations globally impact mining permits, processing waste management, and overall sustainability requirements. Emerging circular economy policies promote magnet recycling from end of life products to mitigate primary resource dependency. National security imperatives underpin much of this regulatory action, aiming to secure essential materials for defense, automotive, and renewable energy sectors. Intellectual property protection also remains a key consideration.
Which Emerging Technologies Are Driving New Trends in the Market?
Innovations in Neodymium Iron Boron magnets are profoundly shaping the market. Breakthroughs in material science aim to reduce reliance on heavy rare earths, like dysprosium and terbium, through advanced grain boundary diffusion techniques. This enhances thermal stability and coercivity, crucial for high temperature applications, simultaneously addressing sustainability and cost concerns.
Emerging manufacturing technologies, particularly additive processes such as 3D printing, enable the creation of complex magnet geometries. This optimizes magnetic field distribution, leading to more compact, lightweight, and efficient electric motors, generators, and sensors. Such advancements are vital for miniaturization and performance improvements across diverse sectors.
Further innovations include surface coatings that vastly improve corrosion resistance, extending magnet lifespan and reliability in harsh operating conditions. These combined technological strides are propelling NdFeB magnets into next generation electric vehicles, advanced robotics, renewable energy systems, and high performance consumer electronics, driving significant market expansion.
Global Neodymium Iron Boron Magnet Market Regional Analysis
Global Neodymium Iron Boron Magnet Market
Trends, by Region

Asia-Pacific Market
Revenue Share, 2025
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Dominant Region
Asia Pacific · 88.2% share
Asia Pacific stands as the unequivocally dominant region in the global Neodymium Iron Boron magnet market, commanding a colossal 88.2% market share. This overwhelming lead is primarily fueled by China's immense manufacturing capabilities and strategic control over rare earth element mining and processing. The region hosts a vast ecosystem of magnet producers and end use industries including consumer electronics electric vehicles and wind energy. Other contributing nations like Japan and South Korea also possess significant production capacity and technological expertise further solidifying Asia Pacific's unparalleled position. This concentration of supply chain from raw materials to finished products makes Asia Pacific the undisputed powerhouse driving market growth and innovation.
Fastest Growing Region
Asia Pacific · 9.2% CAGR
Asia Pacific is projected to be the fastest growing region in the Global Neodymium Iron Boron Magnet Market, exhibiting a robust Compound Annual Growth Rate CAGR of 9.2% from 2026 to 2035. This significant expansion is primarily fueled by the region's burgeoning electric vehicle EV manufacturing sector, particularly in countries like China, Japan, and South Korea. These nations are aggressively investing in EV infrastructure and production, which directly translates to a heightened demand for high performance magnets crucial for EV motors. Furthermore, the rapid growth of the consumer electronics industry across Asia Pacific, coupled with increasing adoption of automation and robotics in industrial sectors, further propels the demand for Neodymium Iron Boron magnets. Government initiatives supporting renewable energy and advancements in wind power generation also contribute to the region's leading growth trajectory.
Impact of Geopolitical and Macroeconomic Factors
Geopolitical tensions significantly influence the Global Neodymium Iron Boron Magnet Market. China's dominant position in rare earth mining and processing creates supply chain vulnerabilities. Potential export restrictions or tariffs from China due to trade disputes could severely disrupt global magnet production, leading to price volatility and prompting nations to invest in diversifying their rare earth supply and processing capabilities. This geopolitical risk drives strategic stockpiling and stimulates domestic exploration efforts in countries like the US and Australia, aiming to reduce reliance on single-source suppliers for critical materials.
Macroeconomic factors, particularly the acceleration of electric vehicle adoption and renewable energy infrastructure buildout, are strong demand drivers. Government subsidies for EVs and green energy stimulate demand for high performance magnets. However, inflation, rising energy costs, and interest rate hikes can increase production costs for magnets and impact the affordability of end products, potentially slowing demand growth. Currency fluctuations also affect import/export costs, influencing pricing and market competitiveness for magnet manufacturers globally.
Recent Developments
- March 2025
Hitachi Metals announced a strategic partnership with a leading automotive manufacturer to co-develop next-generation high-performance neodymium magnets for electric vehicle powertrains. This collaboration aims to enhance magnetic efficiency and reduce rare earth material usage, targeting a significant market share in the rapidly expanding EV sector.
- September 2024
ShinEtsu Chemical unveiled a new series of advanced low-dysprosium neodymium magnets, designed to address the volatility and environmental concerns associated with heavy rare earth elements. These magnets offer comparable performance to traditional high-dysprosium variants, providing a more sustainable and cost-effective solution for various applications.
- June 2025
Magnequench completed the acquisition of a specialized magnet recycling facility, signaling a major strategic initiative to bolster its circular economy efforts within the global neodymium magnet market. This acquisition will enable Magnequench to significantly increase its capacity for recovering and reusing rare earth materials from end-of-life products, reducing reliance on virgin rare earth mining.
- April 2025
Electronic Business Machines (EBM) announced the launch of a new line of compact, high-power neodymium magnets specifically optimized for miniaturized electronics and drone applications. This product launch targets the growing demand for smaller, more efficient magnetic components in industries driven by portability and enhanced performance.
Key Players Analysis
MMC Magnetics and Magnequench lead in Neodymium Iron Boron magnet production, emphasizing advanced powder metallurgy and bonding techniques. Hitachi Metals and ShinEetsu Chemical are crucial for high performance magnets and intellectual property. Strategic collaborations and expansions into electric vehicles and wind power drive market growth for these key players like Bunting Magnetics and Adams Magnetic Products, alongside technology innovation for enhanced magnetic properties.
List of Key Companies:
- MMC Magnetics
- Magnequench
- Bunting Magnetics
- Cobalt
- Sandvik
- Adams Magnetic Products
- Magneti Ljubljana
- ShinEtsu Chemical
- Hitachi Metals
- Electronic Business Machines
- Ningbo Yunsheng Co
- Daido Electronics
- Tianhe Magnets
Report Scope and Segmentation
| Report Component | Description |
|---|---|
| Market Size (2025) | USD 22.8 Billion |
| Forecast Value (2035) | USD 45.3 Billion |
| CAGR (2026-2035) | 8.6% |
| Base Year | 2025 |
| Historical Period | 2020-2025 |
| Forecast Period | 2026-2035 |
| Segments Covered |
|
| Regional Analysis |
|
Table of Contents:
List of Figures
List of Tables
Table 1: Global Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 2: Global Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by End Use Industry, 2020-2035
Table 3: Global Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Shape, 2020-2035
Table 4: Global Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Grade, 2020-2035
Table 5: Global Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Region, 2020-2035
Table 6: North America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 7: North America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by End Use Industry, 2020-2035
Table 8: North America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Shape, 2020-2035
Table 9: North America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Grade, 2020-2035
Table 10: North America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Country, 2020-2035
Table 11: Europe Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 12: Europe Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by End Use Industry, 2020-2035
Table 13: Europe Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Shape, 2020-2035
Table 14: Europe Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Grade, 2020-2035
Table 15: Europe Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 16: Asia Pacific Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 17: Asia Pacific Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by End Use Industry, 2020-2035
Table 18: Asia Pacific Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Shape, 2020-2035
Table 19: Asia Pacific Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Grade, 2020-2035
Table 20: Asia Pacific Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 21: Latin America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 22: Latin America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by End Use Industry, 2020-2035
Table 23: Latin America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Shape, 2020-2035
Table 24: Latin America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Grade, 2020-2035
Table 25: Latin America Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 26: Middle East & Africa Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Application, 2020-2035
Table 27: Middle East & Africa Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by End Use Industry, 2020-2035
Table 28: Middle East & Africa Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Shape, 2020-2035
Table 29: Middle East & Africa Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Magnet Grade, 2020-2035
Table 30: Middle East & Africa Neodymium Iron Boron Magnet Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
