In 2018 Japan’s Consumption of Magnet Rare Earths Increased 11%
Overall consumption of all rare earths up just 2% as demand for those used in catalysts and abrasives falls
After growing at around 8% annually since 2013, Japan’s rare earth consumption increased by a mere 2% in 2018 as consumption of lanthanum and cerium dipped year-over-year on account of weak demand from the catalyst and abrasives end-use sectors.
Consumption of yttrium oxide up 12% year-over-year due to growing demand from the ceramics industry
After growing at around 7% annually since 2013, Japan’s consumption of yttrium oxide increased 12% in 2018 on the back of strong demand for ceramics, such as yttrium stabilized zirconia, which are increasingly being used for 5G electronic devices, such as mobile phone cases.
Consumption of rare earth mischmetal up 10% year-over-year signaling strong demand for NiMH batteries
After years of flat growth since 2013, in 2018, Japan’s consumption of rare earth mischmetal increased by 10%, signaling a boost in demand for NiMH batteries used widely in hybrid electric vehicles (“HEVs”) and other wireless electronics and gadgets.
Consumption of PrNd oxide (and/or Nd oxide) up 11% year-over-year on the back of strong demand for NdFeB permanent magnets
After growing at an average of 18% annually since 2013, Japan’s consumption of PrNd oxide (and Nd oxide) increased by a lower 11% in 2018, in part due to a slight drop in automobile production in 2018 over the year prior.
Rare Earth Recap 2018 and Rare Earth Pricing Outlook to 2030
For more information about global rare earth production, trade and prices in 2018, check out Adamas Intelligence’s recent “Rare Earth Recap 2018” report.
For more information about the outlook for global rare earth supply, demand and prices to 2030, check out Adamas Intelligence’s recent “Rare Earth Pricing Outlook to 2030” report.
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