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Annual NdFeB Shortages of 48,000 Tonnes Expected by 2030

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A comprehensive deep dive into the global market for NdFeB permanent magnets and the rare earth elements they contain

Adamas Intelligence is pleased to announce the publication of a new report, titled ‘Rare Earth Magnet Market Outlook to 2030’. This report is a must-read for anyone with a professional interest in the rare earth and permanent magnet industries.

In this report, we provide a detailed overview of the global NdFeB alloy, powder, magnet and magnet rare earth markets, including a historical breakdown of production, consumption, prices and inventory levels from 2015 through 2019. Next, we unravel the anticipated near-term impact of the COVID-19 pandemic on world markets and forecast global supply, demand and prices from 2020 through 2030.

Among the findings of our analysis:

Market for Magnet Rare Earth Oxides to Increase Five-Fold by 2030: With total magnet rare earth oxide demand forecasted to increase at a CAGR of 9.7% and prices projected to increase at CAGRs of 5.6% to 9.9% over the same period, Adamas Intelligence forecasts that the value of global magnet rare earth oxide consumption will rise five-fold by 2030, from US $2.98 billion this year to US $15.65 billion at the end of the decade.

Annual NdFeB Shortages of 48,000 Tonnes Expected by 2030: Constrained by an expected under-supply of neodymium, praseodymium and dysprosium oxide from 2022 onward, Adamas Intelligence forecasts that global shortages of NdFeB alloy and powder will amount to 48,000 tonnes annually by 2030 – roughly the amount needed for some 25 to 30 million electric vehicle traction motors.

Annual NdPr Oxide Shortages of 16,000 Tonnes Expected by 2030: Constrained by a lack of new primary and secondary supply sources from 2022 onward, Adamas Intelligence forecasts that global shortages of neodymium, praseodymium and didymium oxide (or oxide equivalent) will collectively rise to 16,000 tonnes in 2030, an amount equal to roughly three-times Lynas Corporation’s annual output, or three-times MP Materials’ annual output, of neodymium and praseodymium oxide (or oxide equivalents).

Annual Dy Oxide Shortages of 1,850 Tonnes Expected by 2030:
Similarly, constrained by a lack of new primary and secondary supply sources from 2022 onward, Adamas Intelligence forecasts that global shortages of dysprosium oxide (or oxide equivalent) will rise to 1,850 tonnes in 2030, an amount roughly equal to current global annual mine production.