From: Shanghai Mental Market
Global demand for rare earth metals is growing. The market research report predicts that by 2021, the market size of rare earth metals is expected to reach US$9 billion (approximately HK$70.2 billion). With the global promotion of environmental protection and efforts to reduce emissions from conventional fuel vehicles to improve air quality, electric vehicles have become a trend. Market analysts believe that Tesla Model 3 models are converted from traditional induction motors to adopters. Magnetic friction will further stimulate the demand for rare earth antimony. According to a report by the market research company Zion on rare earth metals, the global demand for rare earth metals including Cerium, Neodymium, and Dysprosium is increasing, and the market size of rare earth metals will expand. According to the report, the value of the global rare earth metal market in 2014 is about 5 billion U.S. dollars, and it is expected to expand to 9 billion U.S. dollars by 2021, with an increase of 80% during this period.
46.7 million / ton of neodymium
Currently, rare earth metals are mainly used in several high-end industries such as energy, automobiles, and popular consumer electronic products such as smart phones and tablet computers. The industry estimates that the global demand for rare earth metals will increase significantly in the coming years. According to research reports from research firm Future Market Insights, rare earth metals play an important role in high-end automotive technology, especially in the areas of electronic vehicles and hybrid electric vehicles.
Market participants expect that the demand for one of the rare earth metals will continue to grow. In 2016, lanthanum accounted for 38.4% of rare earth metals, and it is expected that the proportion of lanthanum will increase in the coming few years. The price of base metals in Shanghai, China, was reported at RMB 467,500 per ton on Monday. At the beginning of September last year, it had a high price of RMB 610,000 per ton. Rare-earth metals are widely used in industrial applications, such as automotive catalytic converters, magnetic motors, aerospace components, and nuclear energy. They are necessary additives in the high-tech industry. At the same time, niobium is also used in metallurgy technology. Therefore, rare earth metals are important in industrial countries.
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The major consumer countries of rare earth metals are the United States, Japan, China, South Korea, Russia, and some EU countries. Japan accounts for about 30% of the world's rare earth applications. The annual import volume exceeds 30,000 tons, among which Japanese automobile manufacturers Toyota and Nissan (Nissan) The use of rare earth metals in high-end technologies has been extensive.
With the increasing popularity of electric vehicles, market analysts believe that Tesla's production of electric vehicles will use magnet motors, which will further stimulate the demand for rare earth antimony. The Tesla Motors' Model 3 Long Range is the application of magnetic braking, which has led to increased supply of rare earth metals.
At the same time, governments of all countries are striving to reduce emissions. For example, the European Union actively promotes electric vehicles. As more and more automakers use helium to produce magnetic motors, the market is optimistic about the price outlook. Demand for supply is rising year by year Fund managers in the investment metals industry believe that Tesla’s use of magnetic motors has significantly changed the market. Analyst Roskill, a metals consultancy, said that Tesla and some electric vehicle engines use magnetic friction technology. Last year, the global demand for germanium was 31,700 tons, which was 3,300 tons more than supply. It is expected that in 2018, the demand will be met. It will increase to 34,200 tons, and will further increase to 38,800 tons by 2019, which means that the shortage will be further expanded.