Management of the Rare Earth Elements (REE) in the Global Economy: Neodymiun Case Study

Abstract

This study provides an overview of using rare earth elements (REEs) in global economy based on the permanent magnets consuming mainly a mixture of neodymium (Nd), praseodymium (Pr) and dysprosium (Dy), and cerium (Ce), as well as gadolinium (Gd) in much lower quantities. Actually the segment of the magnet market is the largest rare earth market (REM) by volume and will continue to outperform other market segments. In the report on „Rare Earths, Outlook to 2030” presented in Green Car Congress on the 3 February 2021 and developed by Roskill Commodity Research forecast, acquired in June 2021 by Wood Mackenzie, the leading global research, consultancy, and data analytics business powering the natural resources industry, Roskill forecasts that rare earth magnet applications will account for ~40% of total demand by 2030, raising the potential for a tight supply-demand balance for key magnetic REEs. The supply of rare earths on the US, Europe, Japan and Chinese markets is presented and discussed.