1/19/25 5:48 PM

Rare Earth Elements: Cornerstones of the Green Revolution

Rare earth elements (REEs) are a group of 17 chemical elements that possess unique magnetic and conductive properties. These elements are essential for manufacturing the permanent magnets found in a wide range of technologies, including wind turbines, electric vehicle (EV) motors, and consumer electronics. REEs are typically extracted as byproducts of other mining operations. They enable the production of lightweight and powerful magnets that significantly improve the efficiency and performance of these technologies.

Applications of Rare Earth Elements in Renewable Energy

REEs play a crucial role in renewable energy technologies, enabling the development of high-performance wind turbines and electric vehicles.

Wind Turbines

Neodymium (Nd): Neodymium is a key component of neodymium-iron-boron (NdFeB) magnets, the strongest type of permanent magnet. These magnets are used in wind turbine generators to convert mechanical energy into electricity³.
Dysprosium (Dy): Dysprosium is added to neodymium-based magnets to improve their performance at high temperatures, making them suitable for use in wind turbine generators⁴.

Electric Vehicles

Neodymium (Nd): NdFeB magnets are also used in electric vehicle motors to provide high power-to-weight ratios and improve efficiency³.
Dysprosium (Dy): Dysprosium is used in EV motors to enhance the performance of magnets at high operating temperatures⁴.
Lanthanum (La): Lanthanum is used in nickel-metal hydride batteries, which are used in some hybrid electric vehicles⁵.
Praseodymium (Pr): Praseodymium is used in high-intensity permanent magnets for electric motors and generators in hybrid cars⁶.

Applications of Rare Earth Elements in Electronics

REEs are essential components in various electronic devices, contributing to their functionality and performance.

Yttrium (Y): Yttrium is used in microwave filters for radar and as a catalyst in ethene polymerization⁷. It is also used in LEDs and phosphors, which are crucial for displays and lighting applications⁸.
Lanthanum (La): Lanthanum oxide is used in camera and telescope lenses due to its high refractive index and low dispersion⁹.
Cerium (Ce): Cerium is used in flat-screen TVs and low-energy light bulbs¹⁰.
Europium (Eu): Europium oxide is used as a phosphor activator in fluorescent lamps and television screens¹¹. Europium is also used in the printing of euro banknotes as an anti-counterfeiting measure¹².
Gadolinium (Gd): Gadolinium is used in alloys for making electronic components and data storage disks¹³.
Terbium (Tb): Terbium is used in solid-state devices, low-energy light bulbs, and mercury lamps¹⁴. It is also used to improve the safety of medical X-rays¹⁴.
Samarium (Sm): Samarium-cobalt magnets are used in headphones, small motors, and musical instruments¹⁵.

Applications of Rare Earth Elements in Other Technologies

REEs have applications in various other fields, including medical technology, aerospace, and nuclear reactors.

Medical Technology

Scandium (Sc): Radioactive isotopes of scandium are used as tracing agents in medical imaging¹⁶.
Yttrium (Y): Yttrium-aluminum garnet (YAG) is used in lasers for medical applications¹⁷. Yttrium is also used in medical lasers for precise surgical procedures¹⁸.
Gadolinium (Gd): Gadolinium compounds are used as contrast agents in magnetic resonance imaging (MRI)¹³.
Holmium (Ho): Holmium is used in specialized lasers for medical and dental applications¹⁹.
Erbium (Er): Erbium is used in lasers for medical and dental applications²⁰.
Thulium (Tm): Thulium is used in portable X-ray machines for medical use²¹.
Lutetium (Lu): Radioactive lutetium-177 is used in cancer therapy²².

Aerospace

Scandium (Sc): Aluminum-scandium alloys are used in aerospace components²³.

Nuclear Reactors

Samarium (Sm): Samarium is used as a neutron absorber in nuclear reactors²⁴.
Europium (Eu): Europium is an excellent neutron absorber and is used in control rods for nuclear reactors²⁵.
Gadolinium (Gd): Gadolinium is an excellent neutron absorber and is used in the core of nuclear reactors¹³.
Dysprosium (Dy): Dysprosium is used in control rods for nuclear reactors²⁶.
Holmium (Ho): Holmium is used in nuclear reactors to control chain reactions²⁷.

Global Production and Reserves of Rare Earth Elements

China is the world's leading producer of rare earth elements, accounting for a significant portion of global production²⁸. Other countries with notable production include Australia, the United States, and Russia. The total global reserve base is estimated at 120 million tonnes of REO equivalent²⁹. Global reserves of rare earth elements are estimated to be substantial, with China, Vietnam, and Brazil holding the largest known reserves².

REE	Global Production	Global Reserves	Main Applications	Major Producing Countries
Scandium	15–20 tonnes per year (Sc₂O₃) ³⁰	Abundant, but not quantified ³¹	Alloys, lighting, medical diagnostics	China, Russia, Philippines
Yttrium	10,000 to 15,000 tons per year (Y₂O₃ equivalent) ³²	More than 500,000 tons (Y₂O₃ equivalent) ³²	Electronics, lasers, ceramics	China, Burma
Lanthanum	12,500 mt/year ³³	6 million mt ³³	Lighting, batteries, optics	China, Australia, United States, Russia
Cerium	Approximately USD 259.8 million in 2021 ³⁴	Abundant, but not quantified ³⁵	Alloys, catalysts, pigments	China, Mountain Pass mine (US)
Praseodymium	Circa 2,500 mt annually ³⁶	4 million tons ³⁷	Alloys, glass, lighting	China, India
Neodymium	Approximately 80% of global supply from China ³⁸	120.00 Mt of in-situ TREO ²⁹	Magnets, lasers, glass	China, Australia, US, Myanmar
Promethium	Minute quantities ³⁹	Less than one kilogram ⁴⁰	Atomic batteries, gauges, space applications	Oak Ridge National Laboratory (US)
Samarium	700 tonnes per year ⁴¹	2 million tonnes ⁴¹	Magnets, lasers, nuclear reactors	China, Russia, Malaysia
Europium	390 mt in 2010 ⁴²	Not quantified ¹²	Nuclear reactors, lasers, phosphors	China, Bayan Obo deposit (China)
Gadolinium	400 tonnes per year ⁴³	Exceeds one million tonnes ⁴³	Alloys, medical imaging, nuclear reactors	China, US, Brazil, Sri Lanka, India, Australia
Terbium	~700 t in 2021 ⁴⁴	10mt ⁴⁵	Solid-state devices, lighting, medical X-rays	China, US, Brazil, India, Sri Lanka, Australia
Dysprosium	1800 metric tonnes annually ⁴⁶	Not quantified ⁴⁷	Magnets, nuclear reactors, lasers	China, Browns Range Project (Australia)
Holmium	10 tonnes per year ⁴⁸	400,000 tonnes ⁴⁸	Nuclear reactors, magnets, lasers	China, Inner Mongolia mines (China)
Erbium	241 mt surplus in 2014 ⁴⁹	Not quantified ⁵⁰	Fiber optic telecommunications, lasers, glass	China, Mt. Weld mine (Australia)
Thulium	50 tonnes per year ⁵¹	100,000 tonnes ⁵¹	Portable X-ray machines, lasers, high-temperature superconductors	China, Inner Mongolian mines (China)
Ytterbium	50 tonnes per year ⁵²	One million tonnes ⁵²	Memory devices, tuneable lasers, catalysts	China, US, Brazil, India
Lutetium	10 tonnes per year ⁵³	Not quantified ⁵³	Catalysts, cancer therapy, positron emission tomography	China, US, Brazil, India, Sri Lanka, Australia

Projected Demand for Rare Earth Elements

The demand for rare earth elements is projected to increase significantly in the coming decades, driven by the growth of renewable energy technologies, electric vehicles, and consumer electronics⁵⁴. This increasing demand presents both challenges and opportunities for the rare earth industry.

Scandium

The scandium market is projected to grow at a CAGR of 8.55% from 2023 to 2032⁵⁴. This growth is driven by the increasing demand for scandium in aerospace, automotive, and renewable energy applications.

Yttrium

The yttrium market is expected to register a CAGR of greater than 4% during the forecast period⁵⁵. The increasing demand for yttrium in ceramics and electronic devices is driving this growth.

Lanthanum

The lanthanum market is estimated to grow at a CAGR of 11.42% from 2024 to 2029⁵⁶. This growth is driven by the increasing demand for lanthanum in electrical and electronics, glass coating, and other applications.

Cerium

The cerium market is expected to grow at a CAGR of 3.8% from 2021 to 2028⁵⁷. The increasing demand for cerium in glass, catalysts, and alloys is driving this growth.

Praseodymium

In the Sustainable Development Scenario, demand for REEs in wind — neodymium and praseodymium in particular — is set to more than triple by 2040, driven by the doubling of annual capacity additions and a shift towards turbines with permanent magnets⁵⁸.

Neodymium

The demand for neodymium is expected to soar due to its use in electric vehicle motors and other clean energy technologies⁵⁹.

Europium

The europium market is expected to grow at a CAGR of 5.2% from 2023 to 2033⁶⁰. This growth is driven by the increasing demand for europium in phosphors, lasers, and medical imaging.

Gadolinium

The gadolinium market is projected to grow at a CAGR of 5.50% from 2023 to 2032⁶¹. The increasing demand for gadolinium in medical imaging and technological advancements is driving this growth.

Terbium

The terbium market is estimated to grow at a CAGR of 3.52% during the forecast period⁶². The growing demand for terbium in phosphors, ceramics, magnets, and nuclear reactors is driving this growth.

Dysprosium

The demand for dysprosium could increase by 2,600 percent over the next 25 years⁶³. This growth is driven by the increasing demand for dysprosium in high-performance magnets for electric vehicles and wind turbines.

Holmium

The demand for holmium is expected to increase due to its applications in lasers, nuclear reactors, and other technologies⁶⁴.

Erbium

The erbium market is anticipated to expand at a CAGR of 11.37% from 2024 to 2029⁶⁵. This growth is driven by the increasing demand for erbium in fiber optic telecommunications, lasers, and glass.

Thulium

The thulium market is anticipated to grow at an impressive rate during the period 2018-2024⁶⁶. This growth is driven by the increasing demand for thulium in nuclear reactors, lasers, and ceramics.

Ytterbium

The global ytterbium market is projected to grow at a CAGR of 10.45% from 2024 to 2029⁶⁷. This growth is driven by the increasing demand for ytterbium in various applications.

Lutetium

The lutetium market is anticipated to expand at a CAGR of 13.08% from 2022 to 2029⁶⁸. This growth is driven by the increasing demand for lutetium in electronic equipment, medical procedures, pure beta emitters, catalysts in oil refineries, and other applications.

Geopolitical Implications of Rare Earth Elements

The increasing demand for rare earth elements has significant geopolitical implications.

China's Dominance and Trade Wars

China's dominance in the rare earth industry has raised concerns about supply chain vulnerabilities and potential disruptions⁶⁹. China currently controls a significant portion of global REE production and has historically used export restrictions to influence global trade⁷⁰. This has led to trade wars and increased tensions with other countries that rely on REEs for critical technologies⁷¹.

Environmental Impacts of Rare Earth Mining

The mining and processing of rare earth elements can have significant environmental impacts⁷².

Specific Environmental Impacts

REEs are often extracted from ores that also contain radioactive materials and heavy metals⁷². The mining process can generate large amounts of waste rock and tailings, which can contaminate soil, water, and air⁷². This can lead to:

Destruction of vegetation: Mining operations can clear large areas of land, leading to deforestation and habitat loss⁷³.
Soil erosion: The removal of topsoil and vegetation can make the land vulnerable to erosion, leading to soil degradation and loss of fertile land⁷³.
Water contamination: Mining can release pollutants into water sources, including heavy metals, radioactive materials, and chemicals used in processing⁷³. This can harm aquatic life and contaminate drinking water supplies.

Balancing Costs and Benefits

It is important to consider the environmental trade-offs of using REEs in green technologies⁷⁴. While REEs are essential for wind turbines, electric vehicles, and other clean energy technologies, the environmental costs of mining and processing must be weighed against the benefits of reducing greenhouse gas emissions and promoting a sustainable future.

Recycling and Reuse of Rare Earth Elements

Efforts are being made to recycle and reuse rare earth elements to reduce the environmental impact of mining and secure a stable supply⁷⁵. However, recycling REEs presents challenges due to the complexity of separating them from other materials in electronic waste⁷⁶.

Alternatives to Rare Earth Elements

Research is ongoing to find alternative materials that can replace rare earth elements in some applications⁷⁷. Some promising alternatives include:

Iron-nitride magnets: These magnets are theoretically more than twice as strong as rare earth magnets and are made from abundant and inexpensive materials⁷⁷.
Tetrataenite: This iron-nickel alloy found in meteorites has magnetic properties similar to those of rare earth magnets⁷⁸. Researchers are developing methods to produce tetrataenite in the laboratory⁷⁸.

Conclusion

Rare earth elements are essential components of many modern technologies, particularly those related to renewable energy and electric vehicles. The unique properties of these elements enable the production of high-performance magnets, lasers, and other devices that are critical for a sustainable future.

REEs are critical for a sustainable future, but the industry faces challenges:

Geopolitical concerns: China's dominance in REE production raises concerns about supply chain vulnerabilities and potential trade disruptions.
Environmental impacts: REE mining can have significant environmental impacts, including the generation of toxic waste and water pollution.
Supply chain vulnerabilities: The increasing demand for REEs may lead to supply shortages and price volatility.

To ensure a secure and sustainable supply of REEs, policymakers and industry stakeholders should:

Diversify sources: Support the development of REE mines outside of China to reduce dependence on a single supplier.
Promote recycling: Invest in research and development to improve REE recycling technologies and increase recycling rates.
Develop alternatives: Support research into alternative materials that can replace REEs in some applications.

The future of the REE industry depends on finding more sustainable solutions for sourcing and utilizing these critical elements. By addressing the challenges and investing in innovation, we can ensure a secure and sustainable supply of REEs to support the transition to a clean energy future.

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ESG (Environmental, Social, and Governance)