封面
市场调查报告书
商品编码
1468627

2024-2032 年按应用(汽车、电子、发电机、医疗行业、风力发电等)和地区分類的钕铁硼磁铁市场报告

Neodymium-Iron-Boron Magnet Market Report by Application (Automobile, Electronics, Power Generators, Medical Industry, Wind Power, and Others), and Region 2024-2032

出版日期: | 出版商: IMARC | 英文 137 Pages | 商品交期: 2-3个工作天内

价格

2023年全球钕铁硼磁铁IMARC Group规模达156亿美元。

钕铁硼 (NdFeB) 磁铁是由钕、铁和硼製成的稀土磁铁。与钐钴 (SmCo)、铝镍钴和铁氧体磁体相比,它们是具有最高磁性的永久磁铁。它们具有很高的成本效益,同时具有很高的抗退磁能力。它们用于金属分离器,有效过滤石油储备中的铁粉。此外,钕铁硼磁铁还有助于製造珠宝夹、身份徽章和透过磁铁固定在载体上的婴儿车。它们还整合在磁振造影设备中,透过产生静磁场来诊断和治疗慢性疼痛综合征、关节炎、伤口癒合、失眠和头痛。

钕铁硼磁铁市场趋势:

目前,为了减少对化石燃料的依赖,对风能和太阳能等再生能源的需求不断增加。再加上风力涡轮发电机中越来越多地使用 NdFeB 磁铁来提高其效率,这是推动市场的关键因素之一。除此之外,机器人技术中越来越多地使用 NdFeB 磁铁来为轮子、感测器和运动提供动力,这也促进了市场的成长。此外,为了维持太空人在全球太空飞行期间的肌肉紧张,对钕铁硼磁铁的需求也在增加。再加上这些磁铁作为运动产生装置在矫正治疗、臼齿蒸馏和腭扩张的应用不断增加,正在推动市场的成长。此外,扬声器製造中对钕铁硼磁体的需求不断增长,以产生产生振动的相反磁场,这提供了积极的市场前景。除此之外,空调(AC)、洗衣机、烘干机、电脑冷却风扇马达、风扇和微波炉等电器中对永久磁铁的需求不断增长,也推动了市场的成长。

本报告回答的关键问题:

  • 迄今为止,全球钕铁硼(NdFeB)磁铁市场表现如何,未来几年将如何表现?
  • 全球钕铁硼(NdFeB)磁体产业的主要区域市场有哪些?
  • COVID-19对全球钕铁硼(NdFeB)磁体产业有何影响?
  • 钕铁硼(NdFeB)磁铁的主要最终用途产业有哪些?
  • 全球钕铁硼(NdFeB)磁体产业价值链的各个阶段是什么?
  • 全球钕铁硼(NdFeB)磁体产业的关键驱动因素和挑战是什么?
  • 全球钕铁硼(NdFeB)磁体产业结构如何?
  • 全球钕铁硼(NdFeB)磁铁产业竞争程度如何?
  • 全球钕铁硼(NdFeB)磁铁产业的利润率是多少?
  • 建立钕铁硼(NdFeB)磁铁製造厂的关键要求是什么?
  • 钕铁硼(NdFeB)磁铁是如何製造的?
  • 钕铁硼 (NdFeB) 磁铁工厂涉及哪些不同的单元操作?
  • 建造钕铁硼(NdFeB)磁铁厂总共需要多少土地?
  • 建立钕铁硼 (NdFeB) 磁铁工厂有哪些机械需求?
  • 开设钕铁硼(NdFeB)磁铁工厂对原料有何要求?
  • 钕铁硼 (NdFeB) 磁铁的包装要求是什么?
  • 钕铁硼(NdFeB)磁铁的运输要求是什么?
  • 建立钕铁硼 (NdFeB) 磁铁工厂有哪些公用设施需求?
  • 设立钕铁硼(NdFeB)磁铁工厂需要哪些人力?
  • 建立钕铁硼 (NdFeB) 磁铁工厂的基础设施成本是多少?
  • 建立钕铁硼 (NdFeB) 磁铁工厂的资本成本是多少?
  • 建立钕铁硼(NdFeB)磁铁工厂的运作成本是多少?
  • 钕铁硼 (NdFeB) 磁铁工厂的收入和支出是多少?
  • 达到收支平衡需要多久?

目录

第一章:前言

第 2 章:范围与方法

  • 研究目的
  • 利害关係人
  • 资料来源
    • 主要资源
    • 二手资料
  • 市场预测
    • 自下而上的方法
    • 自上而下的方法
  • 预测方法

第 3 章:执行摘要

第 4 章:简介

  • 概述
  • 主要行业趋势

第 5 章:全球稀土磁铁产业

  • 市场概况
  • 市场业绩
    • 成交量趋势
    • 价值趋势
  • 市场区隔:依磁铁类型
  • 市场预测

第 6 章:全球钕铁硼 (NdFeB) 磁体产业

  • 市场概况
  • 市场业绩
    • 成交量趋势
    • 价值趋势
  • COVID-19 的影响
  • 价格分析
    • 主要价格指标
    • 价格结构
    • 价格趋势
  • 市场区隔:按地区
  • 市场区隔:按应用
  • 市场预测
  • SWOT分析
    • 概述
    • 优势
    • 弱点
    • 机会
    • 威胁
  • 价值链分析
    • 稀土采矿和研磨公司
    • 稀土氧化物製造商
    • 稀土金属製造商
    • 稀土合金製造商
    • 稀土磁铁製造商
    • 产品分销
    • 废磁铁去除和分离公司
    • 回收公司
  • 波特五力分析
    • 概述
    • 买家的议价能力
    • 供应商的议价能力
    • 竞争程度
    • 新进入者的威胁
    • 替代品的威胁
  • 关键成功因素与风险因素

第 7 章:重点地区表现

  • 中国
    • 市场走向
    • 市场预测
  • 日本
    • 市场走向
    • 市场预测
  • 欧洲
    • 市场走向
    • 市场预测
  • 其他的
    • 市场走向
    • 市场预测

第 8 章:市场区隔:按应用

  • 汽车
    • 市场走向
    • 市场预测
  • 电子产品
    • 市场走向
    • 市场预测
  • 发电机
    • 市场走向
    • 市场预测
  • 医疗业
    • 市场走向
    • 市场预测
  • 风力
    • 市场走向
    • 市场预测
  • 其他的
    • 市场走向
    • 市场预测

第 9 章:竞争格局

  • 市场结构
  • 关键参与者

第 10 章:钕铁硼磁铁 (NdFeB) 製造工艺

  • 产品概述
  • 详细流程
  • 涉及的各种类型的单元操作
  • 质量平衡和原料要求

第 11 章:专案细节、要求与涉及的成本

  • 土地需求和支出
  • 建设需求及支出
  • 工厂布局
  • 工厂机械
  • 机械图片
  • 原料需求及支出
  • 原料及最终产品图片
  • 包装要求及费用
  • 交通需求及支出
  • 公用事业要求和支出
  • 人手需求及开支
  • 其他资本投资

第 12 章:贷款与经济援助

第 13 章:专案经济学

  • 专案资本成本
  • 技术经济参数
  • 供应链各层面的产品定价与利润
  • 税金和折旧
  • 收入预测
  • 支出预测
  • 财务分析
  • 利润分析
Product Code: SR112024A522

The global neodymium-iron-boron magnet market size reached US$ 15.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 28.1 Billion by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.

Neodymium-iron-boron (NdFeB) magnets are rare earth magnets manufactured from neodymium, iron, and boron. They are permanent magnets with the highest magnetic properties compared to samarium cobalt (SmCo), alnico, and ferrite magnets. They are highly cost-effective while offering high resistance to demagnetization. They are used in metal separators to filter iron powder from oil reserves effectively. In addition, NdFeB magnets assist in manufacturing jewelry clips, identification badges, and baby strollers that are attached to carriers via magnets. They are also integrated in magnetic resonance imaging devices to diagnose and treat chronic pain syndrome, arthritis, wound healing, insomnia, and headache by generating a static magnetic field.

Neodymium-Iron-Boron Magnet Market Trends:

At present, there is a rise in the demand for renewable energy sources, such as wind and solar, to reduce the dependency on fossil fuels. This, along with the growing utilization of NdFeB magnets in wind turbine generators to increase their efficiency, represents one of the key factors driving the market. Besides this, the increasing employment of NdFeB magnets in robotics to power wheels, sensors, and motion is contributing to the growth of the market. In addition, there is an increase in the demand for NdFeB magnets to maintain the muscular tonus of astronauts during space flights across the globe. This, coupled with the rising application of these magnets as a motion-generating device in orthodontic treatments, molar distillation, and palatal expansion, is propelling the growth of the market. Moreover, the growing demand for NdFeB magnets in manufacturing speakers to create an opposing magnetic field that creates vibrations is offering a positive market outlook. Apart from this, the escalating demand for permanent magnets in electrical appliances, such as air conditioners (ACs), washing machines, dryers, cooling fan motors in computers, fans, and microwaves, is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global neodymium-iron-boron magnet market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on application.

Breakup by Application:

Automobile

Electronics

Power Generators

Medical Industry

Wind Power

Others

NdFeB magnets find extensive application in automobiles across the globe, which can be attributed to the growing environmental consciousness among individuals and consequently rising demand for electric vehicles (EVs).

Regional Insights:

China

Japan

Europe

Others

On the basis of region, the market has been segregated into China, Japan, Europe, and others.

Competitive Landscape:

The report has also examined the competitive landscape of global neodymium-iron-boron magnet market.

Key Questions Answered in This Report:

  • How has the global neodymium iron boron (NdFeB) magnet market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global neodymium iron boron (NdFeB) magnet industry?
  • What has been the impact of COVID-19 on the global neodymium iron boron (NdFeB) magnet industry?
  • Which are the key end-use industries for neodymium iron boron (NdFeB) magnet?
  • What are the various stages in the value chain of the global neodymium iron boron (NdFeB) magnet industry?
  • What are the key driving factors and challenges in the global neodymium iron boron (NdFeB) magnet industry?
  • What is the structure of the global neodymium iron boron (NdFeB) magnet industry and who are the key players?
  • What is the degree of competition in the global neodymium iron boron (NdFeB) magnet industry?
  • What are the profit margins in the global neodymium iron boron (NdFeB) magnet industry?
  • What are the key requirements for setting up a neodymium iron boron (NdFeB) magnet manufacturing plant?
  • How is a neodymium iron boron (NdFeB) magnet manufactured?
  • What are the various unit operations involved in a neodymium iron boron (NdFeB) magnet plant?
  • What is the total size of land required for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the machinery requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the raw material requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the packaging requirements for a neodymium iron boron (NdFeB) magnet?
  • What are the transportation requirements for a neodymium iron boron (NdFeB) magnet?
  • What are the utility requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the manpower requirements for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the infrastructure costs for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the capital costs for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What are the operating costs for setting up a neodymium iron boron (NdFeB) magnet plant?
  • What will be the income and expenditures for a neodymium iron boron (NdFeB) magnet plant?
  • What is the time required to break-even?

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Rare Earth Magnet Industry

  • 5.1 Market Overview
  • 5.2 Market Performance
    • 5.2.1 Volume Trends
    • 5.2.2 Value Trends
  • 5.3 Market Breakup by Magnet Type
  • 5.4 Market Forecast

6 Global Neodymium-Iron-Boron (NdFeB) Magnet Industry

  • 6.1 Market Overview
  • 6.2 Market Performance
    • 6.2.1 Volume Trends
    • 6.2.2 Value Trends
  • 6.3 Impact of COVID-19
  • 6.4 Price Analysis
    • 6.4.1 Key Price Indicators
    • 6.4.2 Price Structure
    • 6.4.3 Price Trends
  • 6.5 Market Breakup by Region
  • 6.6 Market Breakup by Application
  • 6.7 Market Forecast
  • 6.8 SWOT Analysis
    • 6.8.1 Overview
    • 6.8.2 Strengths
    • 6.8.3 Weaknesses
    • 6.8.4 Opportunities
    • 6.8.5 Threats
  • 6.9 Value Chain Analysis
    • 6.9.1 Rare Earth Mining and Milling Companies
    • 6.9.2 Rare Earth Oxide Manufacturers
    • 6.9.3 Rare Earth Metal Manufacturers
    • 6.9.4 Rare Earth Alloy Manufacturers
    • 6.9.5 Rare Earth Magnet Manufacturers
    • 6.9.6 Product Distribution
    • 6.9.7 Scrap Magnets Removing and Separating Companies
    • 6.9.8 Recycling Companies
  • 6.10 Porter's Five Forces Analysis
    • 6.10.1 Overview
    • 6.10.2 Bargaining Power of Buyers
    • 6.10.3 Bargaining Power of Suppliers
    • 6.10.4 Degree of Competition
    • 6.10.5 Threat of New Entrants
    • 6.10.6 Threat of Substitutes
  • 6.11 Key Success and Risk Factors

7 Performance of Key Regions

  • 7.1 China
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Japan
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Europe
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast
  • 7.4 Others
    • 7.4.1 Market Trends
    • 7.4.2 Market Forecast

8 Market Breakup by Application

  • 8.1 Automobile
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Electronics
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Power Generators
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast
  • 8.4 Medical Industry
    • 8.4.1 Market Trends
    • 8.4.2 Market Forecast
  • 8.5 Wind Power
    • 8.5.1 Market Trends
    • 8.5.2 Market Forecast
  • 8.6 Others
    • 8.6.1 Market Trends
    • 8.6.2 Market Forecast

9 Competitive Landscape

  • 9.1 Market Structure
  • 9.2 Key Players

10 Neodymium-Iron-Boron Magnet (NdFeB) Manufacturing Process

  • 10.1 Product Overview
  • 10.2 Detailed Process Flow
  • 10.3 Various Types of Unit Operations Involved
  • 10.4 Mass Balance and Raw Material Requirements

11 Project Details, Requirements and Costs Involved

  • 11.1 Land Requirements and Expenditures
  • 11.2 Construction Requirements and Expenditures
  • 11.3 Plant Layout
  • 11.4 Plant Machinery
  • 11.5 Machinery Pictures
  • 11.6 Raw Material Requirements and Expenditures
  • 11.7 Raw Material and Final Product Pictures
  • 11.8 Packaging Requirements and Expenditures
  • 11.9 Transportation Requirements and Expenditures
  • 11.10 Utility Requirements and Expenditures
  • 11.11 Manpower Requirements and Expenditures
  • 11.12 Other Capital Investments

12 Loans and Financial Assistance

13 Project Economics

  • 13.1 Capital Cost of the Project
  • 13.2 Techno-Economic Parameters
  • 13.3 Product Pricing and Margins Across Various Levels of the Supply Chain
  • 13.4 Taxation and Depreciation
  • 13.5 Income Projections
  • 13.6 Expenditure Projections
  • 13.7 Financial Analysis
  • 13.8 Profit Analysis

List of Figures

  • Figure 1: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Major Drivers and Challenges
  • Figure 2: Global: Rare Earth Magnets Market: Volume Trends (in '000 Metric Tons), 2018-2023
  • Figure 3: Global: Rare Earth Magnets Market: Value Trends (in Million US$), 2018-2023
  • Figure 4: Global: Rare Earth Magnets Market: Breakup by Magnet Type (in %), 2023
  • Figure 5: Global: Rare Earth Magnets Market Forecast: Volume Trends (in '000 Metric Tons), 2024-2032
  • Figure 6: Global: Rare Earth Magnets Market Forecast: Value Trends (in Million US$), 2024-2032
  • Figure 7: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Volume Trends (in Metric Tons), 2018-2023
  • Figure 8: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Value Trends (in Billion US$), 2018-2023
  • Figure 9: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Average Prices (in US$/Ton), 2018-2023
  • Figure 10: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Breakup by Region (in %), 2023
  • Figure 11: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Life cycle Analysis by Region
  • Figure 12: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Breakup by Application (in %), 2023
  • Figure 13: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Volume Trends (in Metric Tons), 2024-2032
  • Figure 14: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Value Trends (in Billion US$), 2024-2032
  • Figure 15: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Average Prices (in US$/Ton), 2024-2032
  • Figure 16: Neodymium Iron Boron (NdFeB) Magnet Market: Price Structure
  • Figure 17: Global: Neodymium Iron Boron (NdFeB) Magnet Industry: SWOT Analysis
  • Figure 18: Global: Neodymium Iron Boron (NdFeB) Magnet Industry: Value Chain Analysis
  • Figure 19: Global: Neodymium Iron Boron (NdFeB) Magnet Industry: Porter's Five Forces Analysis
  • Figure 20: China: Neodymium Iron Boron (NdFeB) Magnet Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 21: China: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 22: Japan: Neodymium Iron Boron (NdFeB) Magnet Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 23: Japan: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 24: Europe: Neodymium Iron Boron (NdFeB) Magnet Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 25: Europe: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 26: Others: Neodymium Iron Boron (NdFeB) Magnet Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 27: Others: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 28: Global: Neodymium Iron Boron (NdFeB) Magnet (Automobile) Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 29: Global: Neodymium Iron Boron (NdFeB) Magnet (Automobile) Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 30: Global: Neodymium Iron Boron (NdFeB) Magnet (Electronics) Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 31: Global: Neodymium Iron Boron (NdFeB) Magnet (Electronics) Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 32: Global: Neodymium Iron Boron (NdFeB) Magnet (Power Generators) Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 33: Global: Neodymium Iron Boron (NdFeB) Magnet (Power Generators) Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 34: Global: Neodymium Iron Boron (NdFeB) Magnet (Medical Industry) Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 35: Global: Neodymium Iron Boron (NdFeB) Magnet (Medical Industry) Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 36: Global: Neodymium Iron Boron (NdFeB) Magnet (Wind Power) Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 37: Global: Neodymium Iron Boron (NdFeB) Magnet (Wind Power) Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 38: Global: Neodymium Iron Boron (NdFeB) Magnet (Other Applications) Market: Sales Volume (in Metric Tons), 2018-2023
  • Figure 39: Global: Neodymium Iron Boron (NdFeB) Magnet (Other Applications) Market Forecast: Sales Volume (in Metric Tons), 2024-2032
  • Figure 40: Neodymium Iron Boron (NdFeB) Magnet Manufacturing: Detailed Process Flow
  • Figure 41: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Process: Conversion Rate of Products
  • Figure 42: Neodymium Iron Boron (NdFeB) Magnet Manufacturing: Proposed Plant Layout
  • Figure 43: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Breakup of Capital Costs (in %)
  • Figure 44: Neodymium Iron Boron (NdFeB) Magnet Industry: Profit Margins at Various Levels of the Supply Chain
  • Figure 45: Neodymium Iron Boron (NdFeB) Magnet Production: Manufacturing Cost Breakup (in %)

List of Tables

  • Table 1: Global: Rare Earth Magnets Market: Key Industry Highlights, 2023 and 2032
  • Table 2: Global: Rare Earth Magnets Market: Volume Breakup by Magnet Type
  • Table 3: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Key Industry Highlights, 2023 and 2032
  • Table 4: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Breakup by Region (in Metric Tons), 2024-2032
  • Table 5: Global: Neodymium Iron Boron (NdFeB) Magnet Market Forecast: Breakup by Application (in Metric Tons), 2024-2032
  • Table 6: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Competitive Structure
  • Table 7: Global: Neodymium Iron Boron (NdFeB) Magnet Market: Key Players
  • Table 8: Key Magnet Manufacturers in China
  • Table 9: Key Magnet Manufacturers in the USA
  • Table 10: Key Magnet Manufacturers in Japan
  • Table 11: Key Magnet Manufacturers in Europe
  • Table 12: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Land and Site Development (in US$)
  • Table 13: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Civil Works (in US$)
  • Table 14: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Machinery (in US$)
  • Table 15: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Raw Material Requirements
  • Table 16: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
  • Table 17: Neodymium Iron Boron (NdFeB) Magnet Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
  • Table 18: Details of Financial Assistance Offered by Financial Institutions