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Adamas: market for magnet rare earth oxides to increase five-fold by 2030

The date of: 2020-08-19
viewed: 1

source:Green Car Congress

With total magnet rare earth oxide demand forecasted to increase at a CAGR of 9.7% and prices projected to increase at CAGRs of 5.6% to 9.9% over the same period, Adamas Intelligence forecasts that the value of global magnet rare earth oxide consumption will rise five-fold by 2030, from US $2.98 billion this year to US $15.65 billion at the end of the decade.

Constrained by an expected under-supply of neodymium, praseodymium and dysprosium oxide from 2022 onward, Adamas Intelligence forecasts that global shortages of NdFeB alloy and powder will amount to 48,000 tonnes annually by 2030—roughly the amount needed for some 25 to 30 million electric vehicle traction motors.

Also, constrained by a lack of new primary and secondary supply sources from 2022 onward, Adamas Intelligence forecasts that global shortages of neodymium, praseodymium and didymium oxide (or oxide equivalent) will collectively rise to 16,000 tonnes in 2030, an amount equal to roughly three-times Lynas Corporation’s annual output, or three-times MP Materials’ annual output, of neodymium and praseodymium oxide (or oxide equivalents).

Similarly, constrained by a lack of new primary and secondary supply sources from 2022 onward, Adamas Intelligence forecasts that global shortages of dysprosium oxide (or oxide equivalent) will rise to 1,850 tonnes in 2030, an amount roughly equal to current global annual mine production.



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