Rare Earths Sales Likely to Triple by 2015
Source: Hyrdrocarbon Processing (7/27/11)
"World demand for rare earths is forecast to expand by 7.1% per year."
World demand for rare earths is forecast to expand by 7.1% per year to 180,000 metric tons by 2015. In dollar terms, sales are expected to more than triple from $3B in 2010 to $9.2B in 2015.
Neodymium and dysprosium are expected to post the fastest growth rates of any rare earth types, spurred by increased sales of heat-resistant NdFeB permanent magnets.
However, cerium will remain the most widely used rare earth, accounting for almost one-third of the 2015 tonnage total.
Permanent magnets are the largest rare earths market, in terms of both value and volume. Sales will be fueled by increases in consumer electronics, electric motor, hybrid electric and other motor vehicle production. . .View full article