Neodymium Market

A critical metal that impacts the clean energy transition is Neodymium.    It is one of the 17 Rare Earth Elements (REE's) which includes Yttrium plus the 8 Light REE's and the 8 Heavy REE's. Sc, or Scandium is another critical metal, especially to aluminum-alloy (light-weighting efforts) and Solid Oxide Fuel Cells, but not formally considered an REE.

Well for those who use Nd (Neodymium) in the form of NdFeB (Neodymium-Iron-Born) magnets, you have become frightful of the sudden REE and Nd price climbs in the past 20-months.

The evolution of Magnets using NdFeB.

NdFeB Magnets Applications:
1.Head actuators for computer hard disks
2.Erase heads for cheap cassette recorders
3.Mechanical e-cigarette firing switches
4.Locks for doors
5.Loudspeaker headphones
6.Mobile phone speakers, taptic feedback and auto focus actuators
7.Magnetic bearing sand couplings
8.Benchtop NMR spectrometers
9.Retail Media Case Decouplers
10.Voice Coil
11.Electric motors:

• Cordless tools
• Servomotors
• Lifting and compressor motors
• Synchronous motors
• Spindle and stepper motors
• Electrical power steering
• Drive motors for hybrid and electric vehicles.
• Actuators

12.Electric generators for wind turbines (only those with permanent magnet excitation)

• Direct-drive wind turbines require c. 600 kg (1,300 lb) of PM material per megawatt
• Turbines using gears require less PM material per megawatt

13.Alignment of Nanocellulosechiral nematic suspensions to fabricate cellulose nanocrystals films with tuneable specular and off-specular optical response

Electric Vehicles and Wind Turbines are generating a huge demand increase for NdFeB magnets.
A picture of the EV influence is shown below.

The overall REE Supply and Demand outlook is illustrated below:

And the projected REO market balance is shown below:

Expanded mining outside of China is the key to resolving the Neodymium and other REE shortages needed for the clean energy transition.