Noveon Magnetics Partners with LG Electronics to Advance Rare Earth Magnet Recycling
Noveon Magnetics has announced a strategic collaboration with Kangwon Energy and LG Electronics to accelerate the development of a closed-loop recycling system for rare earth permanent magnets.
In the initial phase of the initiative, Noveon will deploy its proprietary Magnet-to-Magnet (M2M) technology to recycle end-of-life magnets recovered from LG products. These recycled materials will then be transformed into high-performance magnets for use in new LG devices, enabling a circular production model.
According to Noveon CEO Scott Dunn, the collaboration represents a significant milestone in strengthening both sustainability and supply chain resilience. By combining Noveon’s M2M technology with Kangwon Energy’s scaling capabilities and LG’s eco-friendly recycling expertise, the partners aim to demonstrate both environmental and performance advantages of recycled rare earth materials.
As part of the expansion strategy, the program will include the development of a new production facility in South Korea through a joint venture between Noveon and Kangwon Energy. This facility is expected to boost recycling capacity and support commercialization efforts.
LG Electronics emphasized the importance of lifecycle-focused product design, highlighting that this initiative will allow the company to validate recycled magnets directly within its products and manufacturing processes. The collaboration will generate real-world performance data, helping to accelerate adoption across multiple industries.
By recovering rare earth elements already in circulation, the initiative reduces dependence on conventional mining and minimizes exposure to supply chain disruptions—particularly in a market where China currently dominates global magnet production.
Read More: Soft Magnetic Materials Market Size to Hit USD 73.77 Billion by 2035
Get More Insights@ https://www.precedenceresearch.com/news