The demand for rare earth permanent magnets in Adamas: will increase fivefold.

According to a recent report by Adams intelligence firm (Adamas Intelligence), the market share of rare earth oxide magnets will increase fivefold from the current $2.98 billion to $15.65 billion in 2030.

According to analysis, the reasons for promoting growth include: on the one hand, the overall demand for rare earth oxide magnets is expected to grow at an average annual rate of 9.7%; second, the price is expected to increase at an average annual rate of 5.6%. 9.9%.

The shortage of raw materials is also a factor affecting the market of rare earth oxides.

"after 2022, new primary and secondary sources of supply will be scarce, and Adams expects the gap between global supply and demand of neodymium, praseodymium and praseodymium oxides (or oxide equivalents) to increase to 16000 tons, equivalent to three times the annual production of neodymium and praseodymium oxides by Linus. Or three times the size of Mount pass Materials, "the report said.

Market researchers have found that the shortage of neodymium, praseodymium and perylene oxides has caused a shortage of NdFeB alloys and powders, which will reach 48000 tons by 2030, equivalent to the demand for 2500-30 million EV motors.

Electric traction motors, commercial electric vehicle traction motors and electric vehicles, motorcycles and scooters together account for 23% of the global demand for NdFeB alloy and powder in 2030.

"considering the use of NdFeB magnets in electric vehicles, including micro motors, sensors and loudspeakers, it is conservatively estimated that 1 ton of every 4 tons of NdFeB alloy and powder produced worldwide will be used in electric vehicles by 2030," the document said.

Adams explained in the report that its forecast was based on the fact that NdFeB magnet alloy and powder production reached an all-time high in the second half of 2020, reducing inventories of rare earth oxide magnets and metals. pushed neodymium, neodymium-praseodymium mixtures, dysprosium and terbium to multi-year highs.