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| Noveon magnetics rare earth magnet recycling |
Noveon Advances Rare Earth Magnet Recycling with LG Electronics
Noveon Magnetics announced a strategic partnership with LG Electronics and Kangwon Energy to advance rare earth magnet recycling. The program applies Noveon’s Magnet-to-Magnet (M2M) technology to end-of-life magnets from LG products. This approach ensures high-performance magnets while reducing reliance on traditional mining. Meanwhile, Korea’s growing production facility will scale recycled magnet output, supporting global supply chain security.
Closed-Loop Approach Ensures Sustainability and Performance
By using LG Electronics products for validation, the initiative demonstrates that recycled magnets meet performance standards across household and consumer electronics. As a result, Noveon and LG show that circular materials can sustain industrial demands. In contrast to conventional mining, this program mitigates geopolitical risks and stabilizes the rare earth supply dominated by China. Furthermore, the collaboration highlights industry commitment to environmental stewardship.
Market Implications and Expansion Prospects
The program’s expansion to South Korea ensures additional production capacity and technology validation. Therefore, industries including automotive, electronics, and renewable energy can adopt recycled magnets without compromising quality. As a result, rare earth magnet recycling may emerge as a scalable solution to global supply challenges. Moreover, closed-loop initiatives strengthen the case for circular economy practices in strategic materials.
ScrapInsight Commentary
This partnership demonstrates that rare earth magnet recycling can scale while maintaining industrial performance. Supply chain dependence on China may decrease, improving price stability. Long-term, closed-loop recycling will reinforce circular economy principles and reduce environmental impact.
