The Demand for Rare Earth Materials in Permanent Magnets

"A major use for many of the rare earths is in permanent magnets. While alternate technologies are in research or already exist, rare earth magnets are unlikely to be supplanted as a major input to clean technologies and high efficiency consumer and industrial devices. We’ll examine where and how the magnet rare earths are utilized and the size of the market. Market growth forecasts based on global markets will be presented. A brief explanation of materials research in the US completes the material.INTRODUCTIONRare earth magnets, first commercialized c.1969, have become essential for a wide range of consumer, industrial and military devices. They are used in the speakers and vibrator motors of cell phones. Rare earth magnets spin the hard discs within the drives and rare earth magnet voice coil motors position the read/write head over the spinning platter. Rare earth magnets are the heart of motors and generators used on airplanes – they are smaller and lighter weight than alternative materials/devices. Now rare earth permanent magnets are being introduced into electric vehicles and wind power generation.Rare earth minerals are difficult to extract from the ores and to separate from one another. The increase in use of rare earth magnets has placed a severe strain on established sources of supply. The establishment of new mines and processing facilities is costly and requires upwards of 15 years to become productive. The combination of rapid rise in use of rare earth minerals coupled with supply shortages has caused rapid price increases and threat of non-delivery of product. The result of this disruptive situation has been a profound response at several levels: corporate, industry-wide and governmental. Let’s learn more about why rare earth magnets are so important to modern society."