Global demand growth of rare earth will exceed 7%

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Global demand growth of rare earth will exceed 7% 2012-08-03

According to the U.S. Freedonia Group's latest research report, due to the battery, electronics, automotive and permanent magnet production growth, the global demand for rare earths is expected to average 7.1 percent faster growth in 2015 reached 18 million tons. If the dollar-denominated, rare earth from 2010 sales of $ 3.0 billion to $ 9.2 billion in 2015 dollars.

Freedonia said, by high-temperature neodymium iron boron (NdFeB) permanent magnet to stimulate strong growth in sales, neodymium and dysprosium will be demand for all types of rare earth fastest growing species. However, cerium is still the most widely used varieties of rare earth, rare earth by 2015 will account for the global demand for nearly 1 / 3. Research report, both in terms of sales, or sales position, permanent magnets are rare earth is the world's largest consumer market. Their needs will be consumer electronics, motors and hybrid electric vehicles and other motor vehicle production increased stimulation. NdFeB permanent magnet which will occupy a major share. 2011 to 2015 the global demand for rare earth metal processing applications will rise an average annual rate of 7.8% by 2015 demand will reach 19,350 tons. This is mainly due to the increase in driving global steel production, especially for high-strength steel and anti-oxidation of steel.

Since the beginning of this century, China's rare earth production accounted for an absolute monopoly. In 2010, China rare earth production 111,000 tons, accounting for 90 percent of global output. China's major producers including Inner Mongolia Baotou Steel Rare Earth Rare Earth High-tech Co., Ltd., China Minmetals and Jiangxi Copper. But as including the United States Molycorp, Australia, Canada, Great Western Linus companies and mining companies, including the emergence of non-Chinese suppliers, as well as rare earth research and development of refining technology, rare earth supply capacity will be enhanced and will eventually ease the price of rare earth surge pressure.

Except for China, the world's largest rare earth mine in the original business plan Molycorp possible to double production of rare earth, rare earth to meet global demand growth. Molycorp CEO Mark Smith (Mark Smith) in January this year in a Bloomberg Radio interview that, Molycorp board of directors has asked management strives to earth in 2012 to enhance production from the 20,000 tons to 40,000 tons, is expected this year production will be between 3000-5000 tons.

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