Rare Earth Elements (REEs)
The 17 REEs enable efficient motors, LED lighting, clean fuels and cutting-edge optics. China still controls ~85 % of oxide output and nearly all metal-to-magnet capacity, but new mines, solvent-extraction plants and magnet factories in the US, Australia, Europe and India are redefining the map. Financing, environmental permitting and reagent intensity keep barriers high, so policy now targets cradle-to-motor integration outside China.
Supply Dynamics
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Chinese production quotas dictate global availability and spot volatility.
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Mountain Pass, Lynas Kalgoorlie and Tanbreez add oxide capacity but still ship to Asia for metal/fabrication.
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First Western solvent-extraction hubs (US, EU, India) slated for late-decade start-up.
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Magnet recycling is scaling. It could reach double-digit share in Nd-Pr supply by 2030.
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ESG pressure on tailings, acid use and water drives process innovation and cost inflation.
Demand Dynamics
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Nd-Pr magnets dominate volume growth via EVs, wind and robotics.
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La-Ce FCC catalysts and glass polishing provide price-insensitive baseload demand.
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Y, Eu, Tb phosphors evolve with mini-LED displays and medical imaging.
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Dy/Tb intensity per magnet falls, but total heavy-REE use rises with unit count.
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Defence sensors and lasers create strategic pull on Ho, Er and Tm.