Published: June 2019
In this report, we provide an introduction to rare earth elements and reveal that, while the global market is relatively small, in just a period of decades rare earth elements have seeped deeply into the fabric of modern technology and industry and have proven exceptionally challenging to duplicate or replace.
We provide an overview of global rare earth consumption by volume and value in 2018 and submit that in the years ahead demand for rare earths used in permanent magnets is expected to grow faster than demand for other rare earth elements, challenging the ability of the supply-side to keep up.
Lastly, we discuss the long-standing issue of the rare earth balance problem and its future implications on rare earth prices. The report wraps up with an overview of China’s evolving monopoly on global rare earth production and, most importantly, a discussion regarding its rising share of downstream value-adding activities that convert rare earth mine outputs into metals, alloys, magnets and more.
This free briefing is essential reading for anyone curious about the rare earth industry or looking to learn more about the forces driving this opaque market.