ieee.es

26/09/2012

The "Rare Earth" market: A strategic market (DIEEEO72-2012)

The “rare earth” market, formed by 17 metals mainly integrated in the lanthanide group, without any use of interest for many years, is grown very strongly since twenty years ago, even at present besides the economic crisis. The demand of these metals grows annually at a rhythm of 10%. Their uses are multiples in some sectors vital for economic development, like information technologies and renewable energies, but they are also of great interest in the defense sector. However the world production of rare-earth is dominated by China in an alarming percentage of 97 %, as well as some related industries such as refining, obtaining of alloys and, to a lesser extent, the manufacture of magnets of new generation. Currently China has slowed down its production and very serious questions raise for the coming years.

Author: Gonzalo Sirvent Zaragoza.