Neodymium
Together with praseodymium, neodymium forms Nd-Fe-B, which is the strongest commercial permanent magnet, enabling compact EV motors, 15-MW offshore-wind nacelles and precision robotics. China still supplies ~85 % of NdPr oxide and fabricates most magnets, but expansions in the US (Mountain Pass) and Australia (Mt Weld) plus European recycling plants aim to temper concentration. Even with Dy/Tb thrift, Nd demand is expected to grow ~8 % CAGR this decade.
Supply Dynamics
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Chinese quota and stockpile policy drives global oxide pricing.
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Mountain Pass Stage-II and Lynas Kalgoorlie bring non-Chinese NdPr oxide online by 2026.
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UK, EU and Japanese magnet-recycling pilots target 3–5 % supply by 2030.
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Belfast and UK magnet plants plan to use recycled feed, closing loops.
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Grain-boundary-engineered magnets require less heavy REE but same Nd, sustaining demand.
Demand Dynamics
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EV traction motors add ≈1 kg Nd-metal equivalent per vehicle.
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Direct-drive wind turbines require 600–700 kg Nd-rich magnet per MW.
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Industrial robots and automation sustain double-digit magnet growth.
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Consumer-electronics and HDDs form a mature but sizeable baseline.
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Efficiency gains and Dy/Tb diffusion reduce heavy-REE needs without denting Nd volumes.