Market Research Report
Rare Earth Elements: Under pressure, global industry responds with new solutions
|Published by||MarketLine||Product code||611761|
|Published||Content info||24 Pages
|Rare Earth Elements: Under pressure, global industry responds with new solutions|
|Published: March 1, 2018||Content info: 24 Pages||
Rare earth elements have transformed industry and consumer products. Smartphones and highly efficient jet engines, among other products, have become dependent upon hard to extract elements, almost all of which are exported from China.
This presents industry with very real problems. Not only are profitable reserves dwindling but supply is determined by the Chinese government, leaving many industries exposed.
However, alternative materials are being developed; recycling is becoming relevant; and means of not using rare elements are entering mainstream production. Despite the problems associated with rare earth elements, industry is undergoing substantial changes to solve the difficulties, heralding new and innovative ideas.
Higher demand is causing industry to find means of improving the security of supply, and several methods have emerged to help.
Now that is changing: industry is waking up to the benefits on offer to product disassembly. However, even successful efforts so far remain small in scale compared to the extent of consumption.
Big shifts in rare earth element use are emerging due to the development of substitute materials. Still in infancy, substitutes to metals such as indium are gradually creating possibilities that industry will be able to radically reduce consumption of these materials over the coming years.