Adamas Intelligence

October 1, 2014

Informed. Objective. Firm. Adamant.

RARE EARTH MARKET OUTLOOK: SUPPLY, DEMAND, AND PRICING FROM 2014 - 2020 Adamas Intelligence: Critical Metals and Minerals Research Following a tumultuous yet humbling decade for the global rare earth industry, a period of calm and cautious-optimism has dawned as industry players gaze to the future in anticipation of what changes lie ahead of the World Trade Organization’s   recent   ruling   against   China’s   rare   earth   export restrictions. Following a period of record-high REO prices in mid-2011 on the back of unfounded market panic and temporary supply disruptions, prices of REOs have receded significantly but remain higher on average in 2014 than in 2010. In this report, we analyze the rare earth market from 2008 through 2013, estimating supply, consumption, prices, and the value of regional and global markets in each year. We provide a breakdown of REO consumption per end-use for over 200 end-uses and applications and reveal insightful trends about the trajectory of the rare earth market going forward. With valuable hindsight in tow, we forecast supply, demand, prices, and the value of regional and global markets for each year from 2014 through 2020. We provide a detailed breakdown of forecasted REO demand per unit and per end-use for over 200 end-uses and applications and analyze two distinct future scenarios to forecast REO prices under different conditions. Among the findings of our report, we forecast that global demand for rare earth oxides will grow from 120,148 tonnes in 2014 to 150,766 tonnes in 2020 at a CAGR of 3.9% driven largely by strong demand growth for neodymium oxide, praseodymium oxide, and dysprosium oxide, among others.

Essential reading for: Informed investors and financiers Technology, material, and chemical developers Exploration and mineral development companies Government agencies and advisory boards

Lead Analyst: Ryan Castilloux Industry Analyst / Founding Director [email protected] +1 347-708-0054

NGOs and global think-tanks Research organizations Advisory firms

www.adamasintel.com

Table of Contents

Disclaimer ........................................................................................................................ 2 Terminology & Abbreviations ........................................................................................... 3 Table of Contents ............................................................................................................. 4 Executive Summary .......................................................................................................... 6 Chapter 1: Background .......................................................................................................... 7 Chapter 2: Mineral Occurrences, Resources, and Reserves Globally ...................................... 15 Chapter 3: Exploration and Project Development ................................................................. 22 Chapter 4: World Rare Earth Mine Production from 1960 through 2013 ............................... 44 Chapter 5: World Mine Production per Company ................................................................. 62 Chapter 6: Separation of Rare Earths by Country and Company ............................................ 73 Chapter 7: Unregulated Rare Earth Mining and Processing ................................................... 82 Chapter 8: Recycling and Secondary Production of Rare Earths ............................................ 88 Chapter 9: World REO Consumption from 2008 through 2013 .............................................. 93 Chapter 10: World REO Consumption by End-Use from 2008 through 2013 .......................... 97 Chapter 11: World REO Consumption by Region from 2008 through 2013 .......................... 119 Chapter 12: International Trade, Policy, and Rare Earth Prices from 2008 through 2013 ..... 130 Chapter 13: Value of the Rare Earth Market from 2008 through 2013................................. 145 Chapter 14: Rare Earth Demand Forecast from 2014 through 2020 ..................................... 161 Chapter 15: REO Demand for Battery Alloys from 2014 through 2020................................. 183 Chapter 16: REO Demand for Catalysts from 2014 through 2020 ........................................ 197 Chapter 17: REO Demand for Ceramics, Pigments, and Glazes from 2014 through 2020 ...... 211 Chapter 18: REO Demand for Polishing Powders and Additives from 2014 through 2020 .... 225 Chapter 19: REO Demand for Metallurgy and Alloys from 2014 through 2020 .................... 233 Chapter 20: REO Demand for Permanent Magnets from 2014 through 2020 ....................... 242 4

Chapter 21: REO Demand for Phosphors from 2014 through 2020 ...................................... 291 Chapter 22: REO Demand Other End-Uses from 2014 through 2020 ................................... 302 Chapter 23: Emerging End-Uses of REOs from 2014 through 2020 ...................................... 316 Chapter 24: Rare Earth Demand by Region from 2014 through 2020 .................................. 325 Chapter 25: Global Rare Earth Supply Forecasts from 2014 through 2020 ........................... 337 Chapter 26: Rare Earth Supply-Demand Balance from 2014 through 2020 .......................... 358 Chapter 27: Rare Earth Price Forecasts from 2014 through 2020......................................... 393 Chapter 28: Forecasted Value of Rare Earth Demand from 2014 through 2020 ................... 422 Chapter 29: Rare Earth Market Outlook ............................................................................. 451

Appendices: 2008 - 2020 .............................................................................................. 458 A1: Global Production and Demand ................................................................................... 459 A2: Battery Alloys .............................................................................................................. 463 A3: Catalytic Converters .................................................................................................... 472 A4: Ceramics ..................................................................................................................... 478 A5: Fuel Cracking Catalysts and Additives .......................................................................... 487 A6: Glass Polishing Powders and Additives ........................................................................ 491 A7: Metallurgy and Alloys .................................................................................................. 496 A8: Permanent Magnets .................................................................................................... 502 A9: Phosphors ................................................................................................................... 547 A10: Other End-Uses and Applications ............................................................................... 555

References ................................................................................................................... 565

5

Chapter 1: Background

TABLE OF CONTENTS

Rare Earth Elements: Small Market, Big Necessity ...........................................................................8 Arbitrarily  Divided  into  ‘Lights’  and  ‘Heavies’ ..................................................................................8 Figure 1: Rare earth elements include the lanthanide series plus scandium and yttrium ................................................... 9 Figure 2: In their 4f shells, LREEs have unpaired electrons whereas HREEs have only paired electrons .............................. 9

Discovered in 1787, First Commercialized in 1884, and Still Rife with Untapped Potential ................9 Figure 3: Timeline  of  rare  earth  history,  from  discovery  to  the  evolution  of  today’s  industry ...........................................10

Rarely Enriched in Nature ............................................................................................................. 10 Rare earth elements are incompatible ............................................................................................... 11 Rare earth elements are immobile .................................................................................................... 11 Rare earth elements are guilty by association .................................................................................... 11

More than 100 REE Minerals Exist, only a Handful have ever been Mined Commercially ................ 12 Figure 4: Common rare earth –bearing  minerals  found  in  today’s  advanced  REO  projects ...............................................12

Industry Growth Defying the Odds ................................................................................................ 13 Small Market, Large Controversy .................................................................................................. 13 Political Pivot Point ...................................................................................................................... 14 The Calm After the Storm ............................................................................................................. 14

7

Chapter 2: Mineral Occurrences, Resources, and Reserves Globally

TABLE OF CONTENTS

Mineral Occurrences by Region .................................................................................................... 16 Figure 5: Number of documented occurrences of anomalous rare earth mineralization by region ...................................16

Compliant Mineral Resources by Region ....................................................................................... 17 Figure 6: Global  compliant  ‘Mineral  Resources’  by  size,  grade,  nation,  and  global  share ..................................................17 Figure 7: Mass of in-situ  TREO  in  compliant  ‘Mineral  Resources’  by  nation ......................................................................18

Compliant Mineral Reserves by Region ......................................................................................... 19 Figure 8: Global  compliant  ‘Mineral  Reserves’  by  size,  grade,  nation,  and  global  share ....................................................19 Figure 9: Mass of in-situ  TREO  in  compliant  ‘Mineral  Reserves’  by  nation ........................................................................20

Non-compliant Mineralization ...................................................................................................... 21 Figure 10: Non-compliant global rare earth reserves base by nation ...............................................................................21

15

Chapter 3: Exploration and Project Development

TABLE OF CONTENTS Rare Earth Project Development ................................................................................................... 25 Figure 12: Overview of the world’s  57  most  advanced  rare  earth  projects  by  stage  of  development ................................26

Overview of Resource Estimate -Stage Projects Globally................................................................ 27 Figure 13: Mineral resource mass and  grade  of  world’s  24  publicly-owned exploration-stage projects .............................27

Resource Estimate -Stage Projects Globally ................................................................................... 28 Buckton South Zone, Canada. ........................................................................................................... 28 Clay Howells, Canada........................................................................................................................ 28 Cummins Range, Australia. ............................................................................................................... 28 Hoidas Lake, Canada ........................................................................................................................ 28 Kangankunde, Malawi ...................................................................................................................... 28 Kutessay II, Kyrgyzstan...................................................................................................................... 28 La Paz, U.S. ...................................................................................................................................... 29 Lavergne-Springer, Canada ............................................................................................................... 29 Lofdal, Namibia ................................................................................................................................ 29 Montviel, Canada ............................................................................................................................. 29 Mrima Hill High Grade Zone, Kenya ................................................................................................... 29 Mrima Hill Main Zone, Kenya ............................................................................................................ 29 Mt. Weld Duncan, Australia .............................................................................................................. 29 Nechalacho Upper Zone, Canada....................................................................................................... 30 Niobec, Canada ................................................................................................................................ 30 Olserum, Sweden ............................................................................................................................. 30 Sierra Rutile, Sierra Leone ................................................................................................................. 30 Songwe, Malawi............................................................................................................................... 30 Sørensen, Greenland ........................................................................................................................ 30 Tantalus, Madagascar....................................................................................................................... 31

22

Two Tom, Canada ............................................................................................................................ 31 Wigu Hill, Tanzania ........................................................................................................................... 31 Yangibana, Australia ......................................................................................................................... 31 Zone 3, Greenland............................................................................................................................ 31

Overview of PEA-Stage Projects Globally....................................................................................... 32 Figure 14: Planned  TREO  output  and  HREO  distribution  of  world’s  16  publicly-owned PEA-stage projects........................32

PEA-Stage Projects Globally .......................................................................................................... 33 Araxá, Brazil..................................................................................................................................... 33 Ashram Main & MHREO, Canada....................................................................................................... 33 Bokan Dotson Ridge, U.S................................................................................................................... 33 Buckton, Canada .............................................................................................................................. 33 Charley Creek, Australia.................................................................................................................... 33 Eco Ridge, Canada ............................................................................................................................ 34 Foxtrot, Canada ............................................................................................................................... 34 Glenover, South Africa...................................................................................................................... 34 Grande-Vallée, Canada ..................................................................................................................... 34 Hastings, Australia............................................................................................................................ 34 Milo, Australia ................................................................................................................................. 35 Norra Kärr, Sweden .......................................................................................................................... 35 Round Top, U.S. ............................................................................................................................... 35 Sarfartoq, Greenland ........................................................................................................................ 35 Strange Lake B-Zone, Canada ............................................................................................................ 35 Zandkopsdrift, South Africa............................................................................................................... 36

Overview of Pre-Feasibility-Stage Projects Globally ....................................................................... 37 Figure 15: Planned  TREO  output  and  HREO  distribution  of  world’s  5  publicly-owned PFS-stage projects ..........................37

Pre-Feasibility-Stage Projects Globally .......................................................................................... 38 Bear Lodge, U.S. ............................................................................................................................... 38 Browns Range, Australia ................................................................................................................... 38 Kvanefjeld, Greenland ...................................................................................................................... 38 Ngualla, Tanzania. ............................................................................................................................ 38 Nolans Bore, Australia ...................................................................................................................... 38

Overview of Feasibility-Stage Projects Globally ............................................................................. 39 Figure 16: Planned  TREO  output  and  HREO  distributions  of  world’s  4  publicly-owned FS-stage projects...........................39

Feasibility-Stage Projects Globally ................................................................................................ 40

23

Dubbo Zirconia Project, Australia ...................................................................................................... 40 Kipawa, Canada ............................................................................................................................... 40 Nechalacho Basal Zone, Canada. ....................................................................................................... 40 Steenkampskraal, South Africa .......................................................................................................... 40

Overview of Notable Privately-Owned Projects Globally ............................................................... 41 Figure 17: Mineral resource mass and  grade  of  world’s  8  major  privately-owned rare earth projects ...............................41

Notable Privately-Owned Projects Globally ................................................................................... 42 Aksu Diamas, Turkey. ....................................................................................................................... 42 Mabounié, Gabon ............................................................................................................................ 42 Mulas, Spain .................................................................................................................................... 42 Serra Verde, Brazil............................................................................................................................ 42 Storkwitz, Germany .......................................................................................................................... 42 Tanbreez, Greenland ........................................................................................................................ 43 Teasdale Zone, Canada ..................................................................................................................... 43 Xiluvo, Mozambique......................................................................................................................... 43

24

Chapter 4: World Rare Earth Mine Production from 1960 - 2013

TABLE OF CONTENTS

World Mine Production by Country .............................................................................................. 46 Figure 18: World mine production of TREO by region from 1960 through 1993 ...............................................................46 Figure 19: World mine production of TREO by country from 1994 through 2013 .............................................................47

World Mine Production by Rare Earth Oxide ................................................................................. 48 Figure 20: World total mine production per REO from 2008 through 2013 ......................................................................48

Mine Production in China:........................................................................................................... 48 Legal Mine Production per REO in China .................................................................................... 49 Figure 21: Legal mine production per REO in China from 2008 through 2013 ..................................................................49 Figure 22: Relative  distribution  of  REOs  in  China’s  legal  mine  production  from  2008  through  2013 ..................................49

Illegal Mine Production per REO in China ................................................................................... 50 Figure 23: Estimated illegal production per REO in China from 2008 through 2013 ..........................................................50 Figure 24: Estimated  relative  distribution  of  REOs  in  China’s  illegal  production  from  2008  through  2013 .........................51

Total Mine Production per REO in China .................................................................................... 51 Figure 25: Estimated total production per REO in China from 2008 through 2013 ............................................................51 Figure 26: Estimate  relative  distribution  of  REOs  in  China’s  TREO  production  from  2008  through  2013 ............................52

Mine Production per REO in Australia ......................................................................................... 52 Figure 27: Mine production per REO in Australia from 2008 through 2013 ......................................................................53 Figure 28: Relative distribution of REOs in Australia’s  total  REO  production  from  2008  through  2013 ..............................54

Mine Production per REO in Brazil............................................................................................... 54 Figure 29: Mine production per REO in Brazil from 2008 through 2013 ...........................................................................54 Figure 30: Relative  distribution  of  REOs  in  Brazil’s  total  REO  production  from  2008  through  2013 ...................................55

Mine Production per REO in India ............................................................................................... 55 Figure 31: Mine production per REO in India from 2008 through 2013 ............................................................................56 Figure 32: Relative  distribution  of  REOs  in  India’s  total REO production from 2008 through 2013 ....................................56

Mine Production per REO in Malaysia ......................................................................................... 57 Figure 33: Mine production per REO in Malaysia from 2008 through 2013 ......................................................................57

44

Figure 34: Relative  distribution  of  REOs  in  Malaysia’s  total  REO  production  from  2008  through  2013 ..............................58

Mine Production per REO in Russia ............................................................................................. 58 Figure 35: Mine production per REO in Russia from 2008 through 2013 ..........................................................................58 Figure 36: Relative  distribution  of  REOs  in  Russia’s  total  REO  production  from  2008  through  2013 ..................................59

Mine Production per REO in U.S. ................................................................................................. 59 Figure 37: Mine and stockpile production per REO in the U.S. from 2008 through 2013 ...................................................60 Figure 38: Relative  distribution  of  REOs  in  the  U.S.’  total  REO  production  from  2008  through  2013 .................................60

Mine Production per REO in Vietnam .......................................................................................... 61 Figure 39: Mine production per REO in Vietnam from 2008 through 2013 .......................................................................61 Figure 40: Relative  distribution  of  REOs  in  Vietnam’s  total  REO  production  from  2008  through  2013 ...............................61

45

Chapter 5: World Mine Production per Company

TABLE OF CONTENTS Active Rare Earth Mining Companies Globally ............................................................................... 64 Figure 41: Some  of  the  world’s  major  rare  earth  mining  companies  and  their  TREO output capacities .............................64

Mining Companies in China: ......................................................................................................... 65 The Big Six ....................................................................................................................................... 65 Baotou Steel Rare Earth Co. .............................................................................................................. 65 China Minmetals Rare Earth Co. ........................................................................................................ 65 Chinalco Guangxi Nonferrous Rare Earth Co. ...................................................................................... 66 Ganzhou Rare Earth Group ............................................................................................................... 66 China National Nonferrous Metals .................................................................................................... 66 Xiamen Tungsten Corporation (Fujian)............................................................................................... 67 Other licensed miners in China.......................................................................................................... 67

Mining Companies in the U.S.: ...................................................................................................... 68 Molycorp...................................................................................................................................................... 68

Mining Companies in Australia: .................................................................................................... 69 Lynas Corporation........................................................................................................................................ 69

Mining Companies in Malaysia: .................................................................................................... 70 Pegang Mining Company ............................................................................................................................. 70

Mining Companies in Vietnam: ..................................................................................................... 70 Lavreco / Sojitz / Toyota Tsusho (JV) ........................................................................................................... 70

Mining Companies in Russia: ........................................................................................................ 71 Lovozerskiy GOK / JSC Sevredmet ............................................................................................................... 71 OAO Apatit ................................................................................................................................................... 71

Mining Companies in Brazil:.......................................................................................................... 71 Nuclear Industries of Brazil .......................................................................................................................... 71

Mining Companies in India: .......................................................................................................... 72 62

Indian Rare Earths Limited........................................................................................................................... 72 Kerala Minerals and Metals Limited ............................................................................................................ 72

63

Chapter 6: Separation of Rare Earths by Country and Company

TABLE OF CONTENTS

Review of Rare Earth Processing and Separation Techniques ......................................................... 74 World REO Processing and Separation Capacity by Country ........................................................... 75 Figure 42: Estimated REO separation and refining capacity by country ............................................................................75

Rare Earth Processing Companies in China .................................................................................. 76 Figure 43: China’s  main  rare  earth  processing  and  separation  companies  and  their  production  capacities .......................76

Rare Earth Processing Companies in Brazil................................................................................... 77 Figure 44: Rare earth processing companies and their annual production capacities in Brazil ..........................................77

Rare Earth Processing Companies in Estonia ................................................................................ 77 Figure 45: Rare earth processing companies and their annual production capacities in Estonia........................................77

Rare Earth Processing Companies in France ................................................................................. 78 Figure 46: Rare earth processing companies and their annual production capacities in France ........................................78

Rare Earth Processing Companies in India ................................................................................... 78 Figure 47: Rare earth processing companies and their annual production capacities in India ...........................................78

Rare Earth Processing Companies in Kazakhstan .......................................................................... 79 Figure 48: Rare earth processing companies and their annual production capacities in Kazakhstan .................................79

Rare Earth Processing Companies in Malaysia ............................................................................. 79 Figure 49: Rare earth processing companies and their annual production capacities in Malaysia .....................................79

Rare Earth Processing Companies in Russia ................................................................................. 80 Figure 50: Rare earth processing companies and their annual production capacities in Russia .........................................80

Rare Earth Processing Companies in the U.S. ............................................................................... 80 Figure 51: Rare earth processing companies and their annual production capacities in the U.S. .......................................80

Rare Earth Processing Companies in Vietnam .............................................................................. 81 Figure 52: Rare earth processing companies and their annual production capacities in Vietnam ......................................81

73

Chapter 7: Unregulated Rare Earth Mining and Processing

TABLE OF CONTENTS

Unregulated Mining ..................................................................................................................... 83 Unregulated Mining in China......................................................................................................... 83 Unregulated Mining in India.......................................................................................................... 84 Unregulated Mining in Vietnam ..................................................................................................... 85 Unregulated Mining in Thailand .................................................................................................... 85 Unregulated Mining in Brazil ......................................................................................................... 85

Unregulated Processing ................................................................................................................ 86 Unregulated Processing in China ................................................................................................... 86 Unregulated Processing in India .................................................................................................... 87 Unregulated Processing in Vietnam ............................................................................................... 87

82

Chapter 8: Recycling and Secondary Production of Rare Earths

TABLE OF CONTENTS

Rare Earth Recycling ..................................................................................................................... 89 Phosphors .................................................................................................................................. 89 Magnets ..................................................................................................................................... 90 Glass polishing powders ............................................................................................................... 91 Battery alloys .............................................................................................................................. 91

Secondary Production of Rare Earths ............................................................................................ 92 SARECO ...................................................................................................................................... 92 Odisha Sand Complex................................................................................................................... 92 Jamaican Red Mud....................................................................................................................... 92

88

Chapter 9: World REO Consumption from 2008 through 2013

TABLE OF CONTENTS

Methodology ............................................................................................................................... 94 World Consumption of Rare Earth Oxides from 2008 through 2013 ............................................... 95 Figure 53: Estimated world annual consumption of REOs from 2008 through 2013 .........................................................95

Relative Distribution of World REO Consumption from 2008 through 2013 .................................... 96 Figure 54: Relative distribution of world annual REO consumption from 2008 through 2013 ...........................................96

93

Chapter 10: World REO Consumption by End-Use from 2008 through 2013

TABLE OF CONTENTS

Review of Rare Earth End-Use Categories...................................................................................... 99 Figure 55: Nine major rare earth end-use categories and examples of end-uses from each..............................................99

Battery Alloys .......................................................................................................................... 100 Figure 56: Specific power, specific energy density, weight of AB5 in various NiMH batteries for HEVs ............................100

Catalytic Converters ................................................................................................................. 101 Figure 57: Average engine displacement and REO contents of catalytic converters for various vehicles .........................101

Ceramics, Pigments, and Glazes................................................................................................ 102 Fuel Cracking Catalysts and Additives ....................................................................................... 103 Figure 58: Application rates of commonly-used rare earths in fuel cracking catalysts and additives ...............................103

Glass Polishing Powders and Additives ..................................................................................... 104 Metallurgy and Alloys .............................................................................................................. 105 Figure 59: Common rare earth alloys, their average REE contents, and estimated world production ..............................105

Permanent Magnets ................................................................................................................ 106 Figure 60: Estimated world consumption of NdFeB and SmCo magnets in 2013 ............................................................106

Phosphors ............................................................................................................................... 107 Figure 61: Estimated global phosphor and REO consumption per lamp type in 2013 .....................................................107

Other ...................................................................................................................................... 108 Breakdown of World REO Consumption by End-Use Category from 2008 through 2013................ 109 Figure 62: Relative consumption of TREO per end-use category from 2008 through 2013 ..............................................109

Battery Alloys .......................................................................................................................... 110 Figure 63: REO consumption for NiMH battery alloys from 2008 through 2013 .............................................................110

Catalytic Converters ................................................................................................................. 111 Figure 64: REO consumption for catalytic converters from 2008 through 2013 ..............................................................111

Ceramics, Pigments, and Glazes................................................................................................ 112 Figure 65: REO consumption for ceramics from 2008 through 2013 ..............................................................................112

97

Fuel Cracking Catalysts and Additives ....................................................................................... 113 Figure 66: REO consumption for fuel cracking catalysts and additives from 2008 through 2013 .....................................113

Glass Polishing Powders and Additives ..................................................................................... 114 Figure 67: REO consumption for glass polishing powders and additives from 2008 through 2013 ..................................114

Metallurgy and Alloys .............................................................................................................. 115 Figure 68: REO consumption for metallurgy and alloys from 2008 through 2013 ...........................................................115

Permanent Magnets ................................................................................................................ 116 Figure 69: REO consumption for rare earth permanent magnets from 2008 through 2013 ............................................116

Phosphors ............................................................................................................................... 117 Figure 70: REO consumption for phosphors from 2008 through 2013............................................................................117

Other ...................................................................................................................................... 118 Figure 71: REO  consumption  for  ‘other’  applications  and  end-uses from 2008 through 2013 .........................................118

98

Chapter 11: World REO Consumption by Region from 2008 through 2013

TABLE OF CONTENTS

World Rare Earth Oxide Consumption by Region from 2008 through 2013 ................................... 120 Figure 72: Total REO consumption by region from 2008 through 2013 ..........................................................................120

Regional Distribution of TREO Consumption per End-Use Category, 2008 through 2013 ............... 121 Battery Alloys .......................................................................................................................... 121 Figure 73: Total REO consumption by region for the production of battery alloys ..........................................................121

Catalytic Converters ................................................................................................................. 122 Figure 74: Total REO consumption by region for the production of catalytic converters .................................................122

Ceramics, Pigments, and Glazes................................................................................................ 123 Figure 75: Total REO consumption by region for the production of ceramics, pigments, and glazes................................123

Fuel Cracking Catalysts and Additives ....................................................................................... 124 Figure 76: Total REO consumption by region for the production of FCC catalysts and FCC additives ...............................124

Glass Polishing Powders and Additives ..................................................................................... 125 Figure 77: Total REO consumption by region for the production of polishing powders and glass additives .....................125

Metallurgy and Alloys .............................................................................................................. 126 Figure 78: Total REO consumption by region for applications in metallurgy and alloys ...................................................126

Permanent Magnets ................................................................................................................ 127 Figure 79: Total REO consumption by region for the production of permanent magnets ................................................127

Phosphors ............................................................................................................................... 128 Figure 80: Total REO consumption by region for the production of phosphors ..............................................................128

Other ...................................................................................................................................... 129 Figure 81: Total  REO  consumption  by  region  for  ‘other’  end-uses and applications........................................................129

119

Chapter 12: International Trade, Policy, and Rare Earth Prices from 2008 through 2013

TABLE OF CONTENTS The Evolution of the International Rare Earth Supply Chain from 2008 through 2013 ................... 132 China reduced its rare earth export quotas .............................................................................. 132 Figure 82: Annual total of MOFCOM-issued rare earth export quotas from 2008 through 2013 .....................................132

China’s  rare  earth  production  quotas  increased  very  slightly .................................................... 133 Figure 83: China’s  annual  TREO  production  quotas  and  quotas  by  region  from  2008  through  2013 ................................133

China’s  illegal  rare  earth  production  increased ........................................................................ 134 Figure 84: Estimated illegal TREO production in China and illegal production by region from 2008 through 2013 ...........134

China increased export tariffs on several rare earth products ................................................... 135 Figure 85: China’s  rare  earth  export  tariffs  on  rare  earth  products  in  2008  and  2013 .....................................................135

Rare earth prices spiked in 2011 .............................................................................................. 136 Sino-Japanese tensions escalated ............................................................................................ 136 U.S. miner Molycorp re-started production at Mountain Pass .................................................. 137 Australian miner Lynas began production at Mt. Weld ............................................................. 137 Rare Earth Industry Policy and Reform Developments from 2008 through 2013 ........................... 138 China’s  industry  consolidation  through  incentivization ............................................................ 138 China’s  industry  consolidation  through regulation ................................................................... 138 China boosted resource taxes on rare earth producers ............................................................. 138 China’s  government-backed rare earth stockpiling ................................................................... 139 U.S. introduces bill to re-establish a domestic supply chain ...................................................... 139 U.S. Senate proposes expedited permitting for exploration and development .......................... 139 U.S. introduces bill aimed at ensuring long-term availability of strategic materials ................... 139 Greenland ends prohibition on mining radioactive materials.................................................... 139 Japan offers subsidies for domestic and international rare earth projects ................................. 139 Rare Earth Pricing Controls and Historic Prices from 2008 through 2013 ...................................... 140 Rare earth price establishment and control ............................................................................. 140 130

Figure 86: Cost components that comprise the foundation of rare earth product prices in China ...................................140

Historic rare earth prices: Chinese domestic ............................................................................ 141 Figure 87: Estimated average annual Chinese domestic REO prices from 2008 through 2013 .........................................142 Figure 88: Table of average annual Chinese domestic REO prices from 2008 through 2013 ............................................142

Historic rare earth prices: China FOB ....................................................................................... 143 Figure 89: Estimated average annual China FOB REO prices from 2008 through 2013 ....................................................144 Figure 90: Table of average annual China FOB REO prices from 2008 through 2013 .......................................................144

131

Chapter 13: Value of the Rare Earth Market from 2008 through 2013

TABLE OF CONTENTS

Methodology ............................................................................................................................. 147 Value of World REO Consumption from 2008 through 2013 ......................................................... 148 Figure 91: Estimated value of global TREO consumption from 2008 through 2013 .........................................................148

Relative Value of Rare Earth Consumption by REO from 2008 through 2013 ................................ 149 Figure 92: Relative value of global TREO consumption by oxide from 2008 through 2013 ..............................................149

Value of Rare Earth Consumption by End-Use Category from 2008 through 2013 ......................... 150 Figure 93: Estimated value of global TREO consumption by end-use category from 2008 through 2013 .........................150

Relative Value of Rare Earth Consumption by End-Use Category from 2008 through 2013 ............ 151 Figure 94: Relative value of global TREO consumption by end-use category from 2008 through 2013 ............................151

Breakdown of the Value of REO Consumption by Category from 2008 through 2013 .................... 152 Battery Alloys ......................................................................................................................... 152 Figure 95: Estimated value of global REO demand for battery alloys from 2008 through 2013 .......................................152

Catalytic Converters ................................................................................................................ 153 Figure 96: Estimated value of global REO demand for catalytic converters from 2008 through 2013 ..............................153

Ceramics, Pigments, and Glazes ............................................................................................... 154 Figure 97: Estimated value of global REO demand for ceramics, pigments, and glazes from 2008 through 2013 .............154

Fuel Cracking Catalysts and Additives ...................................................................................... 155 Figure 98: Estimated value of global REO demand for fuel cracking catalysts from 2008 through 2013 ..........................155

Glass Polishing Powders and Additives .................................................................................... 156 Figure 99: Estimated value of global REO demand for glass polish and additives from 2008 through 2013 .....................156

Metallurgy and Alloys ............................................................................................................. 157 Figure 100: Estimated value of global REO demand for metallurgy and alloys from 2008 through 2013 .........................157

Permanent Magnets ............................................................................................................... 158 Figure 101: Estimated value of global REO demand for permanent magnets from 2008 through 2013 ...........................158

Phosphors .............................................................................................................................. 159 Figure 102: Estimated value of global REO demand for phosphors from 2008 through 2013 ..........................................159

145

Other...................................................................................................................................... 160 Figure 103: Estimated value of global REO demand for other end-uses from 2008 through 2013 ...................................160

146

Chapter 14: Rare Earth Demand Forecast from 2014 through 2020

TABLE OF CONTENTS

Methodology ............................................................................................................................. 163 World REO Demand by Oxide from 2014 through 2020 ............................................................... 164 Figure 104: Forecasted global TREO demand by oxide from 2014 through 2020 ............................................................164

Relative Distribution of World REO Demand by Oxide from 2014 through 2020 ........................... 165 Figure 105: Relative distribution of forecasted world TREO demand by oxide from 2014 through 2020 .........................165

World TREO Demand by End-Use Category from 2014 through 2020............................................ 166 Figure 106: Forecasted world TREO demand by end-use category from 2014 through 2020 ..........................................166

Relative Distribution of World TREO Demand by Category from 2014 through 2020 ..................... 167 Figure 107: Relative distribution of world TREO demand by end-use category from 2014 through 2020 ........................167

Lanthanum Oxide: .................................................................................................................... 168 Figure 108: Forecasted global lanthanum oxide demand and demand by end-use from 2014 through 2020 ..................168

Cerium Oxide:........................................................................................................................... 169 Figure 109: Forecasted global cerium oxide demand and demand by end-use from 2014 through 2020 ........................169

Praseodymium Oxide:............................................................................................................... 170 Figure 110: Forecasted global praseodymium oxide demand and demand by end-use, 2014 through 2020....................170

Neodymium Oxide: ................................................................................................................... 171 Figure 111: Forecasted global neodymium oxide demand and demand by end-use from 2014 through 2020 .................171

Samarium Oxide: ...................................................................................................................... 172 Figure 112: Forecasted global samarium oxide demand and demand by end-use from 2014 through 2020 ....................172

Europium Oxide:....................................................................................................................... 173 Figure 113: Forecasted global europium oxide demand and demand by end-use from 2014 through 2020 ....................173

Gadolinium Oxide: .................................................................................................................... 174 Figure 114: Forecasted global gadolinium oxide demand and demand by end-use from 2014 through 2020 ..................174

Terbium Oxide: ......................................................................................................................... 175 Figure 115: Forecasted global terbium oxide demand and demand by end-use from 2014 through 2020 .......................175

161

Dysprosium Oxide: ................................................................................................................... 176 Figure 116: Forecasted global dysprosium oxide demand and demand by end-use from 2014 through 2020 .................176

Holmium Oxide: ....................................................................................................................... 177 Figure 117: Forecasted global holmium oxide demand and demand by end-use from 2014 through 2020 .....................177

Erbium Oxide:........................................................................................................................... 178 Figure 118: Forecasted global erbium oxide demand and demand by end-use from 2014 through 2020 ........................178

Thulium Oxide: ......................................................................................................................... 179 Figure 119: Forecasted global thulium oxide demand and demand by end-use from 2014 through 2020 .......................179

Ytterbium Oxide: ...................................................................................................................... 180 Figure 120: Forecasted global ytterbium oxide demand and demand by end-use from 2014 through 2020 ....................180

Lutetium Oxide: ........................................................................................................................ 181 Figure 121: Forecasted global lutetium oxide demand and demand by end-use from 2014 through 2020 ......................181

Yttrium Oxide: .......................................................................................................................... 182 Figure 122: Forecasted global yttrium oxide demand and demand by end-use from 2014 through 2020 ........................182

162

Chapter 15: REO Demand for Battery Alloys from 2014 through 2020

TABLE OF CONTENTS

World REO Demand for Battery Alloys from 2014 through 2020 .................................................. 184 Figure 123: Forecasted REO demand for the production of battery alloys from 2014 through 2020 ...............................184

World REO Demand for Battery Alloys by End-Use from 2014 through 2020 ................................ 185 Figure 124: Forecasted global REO demand for battery alloys by end-use application from 2014 through 2020 .............185

Hybrid Electric Vehicles ............................................................................................................. 186 Figure 125: Forecasted REO demand for hybrid electric vehicle battery alloys from 2014 through 2020 .........................186

Secondary Cells (1.2 Volt) ......................................................................................................... 187 Figure 126: Forecasted REO demand for secondary single-cell NiMH batteries from 2014 through 2020 ........................187

Electric Bikes ............................................................................................................................ 188 Figure 127: Forecasted REO demand for electric bicycle battery alloys from 2014 through 2020 ...................................188

Rechargeable Toothbrushes ...................................................................................................... 189 Figure 128: Forecasted REO demand for rechargeable toothbrush battery alloys from 2014 through 2020 ....................189

Cordless Powertools ................................................................................................................. 190 Figure 129: Forecasted REO demand for cordless powertool battery alloys from 2014 through 2020 .............................190

Cordless Phones ....................................................................................................................... 191 Figure 130: Forecasted REO demand for cordless phone battery alloys from 2014 through 2020 ...................................191

Rechargeable Shavers ............................................................................................................... 192 Figure 131: Forecasted REO demand for rechargeable shaver battery alloys from 2014 through 2020 ...........................192

Electric Wheelchairs ................................................................................................................. 193 Figure 132: Forecasted REO demand for electric wheelchair battery alloys from 2014 through 2020 .............................193

Two-way Radios ....................................................................................................................... 194 Figure 133: Forecasted REO demand for two-way radio battery alloys from 2014 through 2020 ....................................194

Digital Still Cameras .................................................................................................................. 195 Figure 134: Forecasted REO demand for digital still camera battery alloys from 2014 through 2020 ..............................195

Miscellaneous NiMH Batteries .................................................................................................. 196 Figure 135: Forecasted REO demand for miscellaneous device battery alloys from 2014 through 2020 ..........................196

183

Chapter 16: REO Demand for Catalysts from 2014 through 2020

TABLE OF CONTENTS

World REO Demand for Catalysts from 2014 through 2020 .......................................................... 199 Figure 136: Forecasted REO demand for the production of catalysts from 2014 through 2020 .......................................199

World REO Demand for Catalysts by End-Use from 2014 through 2020 ........................................ 200 Figure 137: Forecasted REO demand for catalysts by end-use from 2014 through 2020 .................................................200

Catalytic Converters: .................................................................................................................. 201 Catalytic Converters for Cars .................................................................................................... 201 Figure 138: Forecasted REO demand for passenger car catalytic converters from 2014 through 2020 ............................201

Catalytic Converters for Light Commercial Vehicles ................................................................... 202 Figure 139: Forecasted REO demand for light commercial catalytic converters from 2014 through 2020 .......................202

Catalytic Converters for Heavy Trucks ...................................................................................... 203 Figure 140: Forecasted REO demand for heavy truck catalytic converters from 2014 through 2020 ...............................203

Catalytic Converters for Buses .................................................................................................. 204 Figure 141: Forecasted REO demand for catalytic converters for buses from 2014 through 2020 ...................................204

Catalytic Converters for Scooters, Mopeds, and Off-Road Vehicles ............................................ 205 Figure 142: Forecasted REO demand for scooter, moped, and off-road vehicle catalytic converters from 2014 through 2020 ............................................................................................................................................................................205

Catalytic Converters for Motorcycles ........................................................................................ 206 Figure 143: Forecasted REO demand for motorcycle catalytic converters from 2014 through 2020 ................................206

Fuel-Cracking Catalysts and Additives: ........................................................................................ 207 Fuel-Cracking Catalysts ............................................................................................................ 207 Figure 144: Forecasted REO demand for production of fuel-cracking catalysts from 2014 through 2020 ........................207

Fuel-Cracking Catalyst Additives ............................................................................................... 208 Figure 145: Forecasted REO demand for production of fuel-cracking additives from 2014 through 2020 ........................208

Fuel-Borne Catalysts ................................................................................................................ 209 Figure 146: Forecasted REO demand for fuel-borne catalyst systems from 2014 through 2020 ......................................209

197

Polymerization Catalysts: ........................................................................................................... 210 Butadiene Rubber Polymerization Catalyst ............................................................................... 210 Figure 147: Forecasted REO demand for the production of catalysts from 2014 through 2020 .......................................210

198

Chapter 17: REO Demand for Ceramics, Pigments, and Glazes from 2014 through 2020

TABLE OF CONTENTS World REO Demand for Ceramics, Pigments, and Glazes from 2014 through 2020 ........................ 212 Figure 148: Forecasted REO demand for the production of ceramics from 2014 through 2020 ......................................212

World REO Demand for Ceramics, Pigments, and Glazes by End-Use from 2014 through 2020 ...... 213 Figure 149: Forecasted REO demand for ceramics and glazes by end-use application 2014 through 2020 ......................213

Ceramic Capacitors ................................................................................................................... 214 Figure 150: Forecasted REO demand for production of ceramic capacitors from 2014 through 2020 .............................214

Grinding Media......................................................................................................................... 215 Figure 151: Forecasted REO demand for production of grinding media from 2014 through 2020 ...................................215

Thermal Barrier Coatings .......................................................................................................... 216 Figure 152: Forecasted REO demand for production of thermal barrier coatings from 2014 through 2020 .....................216

Pigments and Glazes ................................................................................................................. 217 Figure 153: Forecasted REO demand for production of pigments and glazes from 2014 through 2020 ...........................217

Conductive Ceramics ................................................................................................................ 218 Figure 154: Forecasted REO demand for production of conductive ceramics from 2014 through 2020 ...........................218

Structural Ceramics................................................................................................................... 219 Figure 155: Forecasted REO demand for production of structural ceramics from 2014 through 2020 .............................219

Bio Ceramics............................................................................................................................. 220 Figure 156: Forecasted REO demand for production of bio ceramics from 2014 through 2020 .......................................220

Functional Ceramics.................................................................................................................. 221 Figure 157: Forecasted REO demand for production of functional ceramics from 2014 through 2020 ............................221

Transparent Ceramics ............................................................................................................... 222 Figure 158: Forecasted REO demand for production of transparent ceramics from 2014 through 2020 .........................222

Ceramic Cutting Tools ............................................................................................................... 223 Figure 159: Forecasted REO demand for the production of ceramic cutting tools from 2014 through 2020 ....................223

Ceramic Superconductors ......................................................................................................... 224 Figure 160: Forecasted REO demand for production of ceramic superconductors from 2014 through 2020 ...................224

211

Chapter 18: REO Demand for Glass Polishing Powders and Additives from 2014 through 2020

TABLE OF CONTENTS

World REO Demand for Glass Polishing Powders and Additives from 2014 through 2020 ............. 226 Figure 161: Forecasted REO demand for glass polishing powders and additives from 2014 through 2020 ......................226

World REO Demand for Glass Polishing Powders and Additives by End-Use, 2014 through 2020 ... 227 Figure 162: Forecasted REO demand for glass by end-use application from 2014 through 2020 .....................................227

Glass Polishing Powders: ............................................................................................................ 228 Low-Ce Polishing Powder ......................................................................................................... 228 Figure 163: Forecasted REO demand for low-cerium polishing powders from 2014 through 2020..................................228

High-Ce Polishing Powder ........................................................................................................ 229 Figure 164: Forecasted REO demand for high-cerium polishing powders from 2014 through 2020 ................................229

Ultra-high–Ce Polishing Powder ............................................................................................... 230 Figure 165: Forecasted REO demand for ultra-high cerium polishing powders from 2014 through 2020 ........................230

Glass Additives: .......................................................................................................................... 231 Optical Glass ............................................................................................................................ 231 Figure 166: Forecasted REO demand for optical glasses from 2014 through 2020 ..........................................................231

Colorants, Clarifiers, and Additives ........................................................................................... 232 Figure 167: Forecasted REO demand for glass colorants, clarifiers, and additives from 2014 through 2020 ....................232

225

Chapter 19: REO Demand for Metallurgy and Alloys from 2014 through 2020

TABLE OF CONTENTS

World REO Demand for Metallurgy and Alloys from 2014 through 2020 ...................................... 234 Figure 168: Forecasted REO demand for metallurgy and alloys from 2014 through 2020 ...............................................234

World REO Demand for Metallurgy and Alloys by End-Use from 2014 through 2020 .................... 235 Figure 169: Forecasted REO demand for metallurgy and alloys by end-use application from 2014 through 2020 ............235

Mischmetal: ............................................................................................................................... 236 Steelmaking ............................................................................................................................. 236 Figure 170: Forecasted REO demand for steelmaking from 2014 through 2020 .............................................................236

Ductile Iron Production ............................................................................................................. 237 Figure 171: Forecasted REO demand for ductile iron production from 2014 through 2020 ............................................237

Alloys:........................................................................................................................................ 238 Ferro-Gadolinium ..................................................................................................................... 238 Figure 172: Forecasted REO demand for ferro-gadolinium alloys from 2014 through 2020 ............................................238

RE-Mg Alloys ............................................................................................................................ 239 Figure 173: Forecasted REO demand for rare earth magnesium alloys from 2014 through 2020 ....................................239

Ferro-Holmium ......................................................................................................................... 240 Figure 174: Forecasted REO demand for ferro-holmium alloys from 2014 through 2020................................................240

Terfenol-D ................................................................................................................................ 241 Figure 175: Forecasted REO demand for Terfenol-D alloy from 2014 through 2020 .......................................................241

233

Chapter 20: REO Demand for Permanent Magnets from 2014 through 2020

TABLE OF CONTENTS

World REO Demand for Permanent Magnets from 2014 through 2020......................................... 246 Figure 176: Forecasted REO demand for permanent magnets from 2014 through 2020 ................................................246

World REO Demand for Permanent Magnets by End-Use from 2014 through 2020 ....................... 247 Figure 177: Forecasted REO demand for permanent magnets by end-use from 2014 through 2020 ...............................247

Transportation: .......................................................................................................................... 248 Hybrid and Plug-in Hybrid Electric Vehicles ................................................................................ 248 Figure 178: Forecasted REO demand for HEV and PHEV drive motors from 2014 through 2020 .....................................248

Battery Electric Vehicles............................................................................................................ 249 Figure 179: Forecasted REO demand for battery electric vehicle drive motors from 2014 through 2020 ........................249

General Auto Electric Motors .................................................................................................... 250 Figure 180: Forecasted REO demand for general-purpose automotive motors from 2014 through 2020 ........................250

Electric Bikes ............................................................................................................................ 251 Figure 181: Forecasted REO demand for electric bicycle drive motors from 2014 through 2020 .....................................251

Electric Scooters ....................................................................................................................... 252 Figure 182: Forecasted REO demand for electric scooter drive motors from 2014 through 2020 ....................................252

Electric Motorcycles.................................................................................................................. 253 Figure 183: Forecasted REO demand for electric motorcycle drive motors from 2014 through 2020 ..............................253

Power Generation and Storage: .................................................................................................. 254 Wind Turbines .......................................................................................................................... 254 Figure 184: Forecasted REO demand for wind turbine generators from 2014 through 2020 ..........................................254

Energy Storage Systems ............................................................................................................ 255 Figure 185: Forecasted REO demand for magnetic energy storage systems from 2014 through 2020 .............................255

Industrial Applications:............................................................................................................... 256 Low Voltage Electric Motors ..................................................................................................... 256 Figure 186: Forecasted REO demand for low-voltage electric motors from 2014 through 2020 ......................................256

242

Torque Coupled Drives and Devices .......................................................................................... 257 Figure 187: Forecasted REO demand for torque coupled drives and devices from 2014 through 2020 ...........................257

Hysteresis Clutches and Brakes ................................................................................................. 258 Figure 188: Forecasted REO demand for hysteresis clutches and brakes from 2014 through 2020 .................................258

Magnetic Sensors ..................................................................................................................... 259 Figure 189: Forecasted REO demand for magnetic sensors from 2014 through 2020 .....................................................259

Magnetic Separation Systems ................................................................................................... 260 Figure 190: Forecasted REO demand for magnetic separators from 2014 through 2020 ................................................260

Magnetic Lifters........................................................................................................................ 261 Figure 191: Forecasted REO demand for magnetic lifters from 2014 through 2020 ........................................................261

AC Compressors and Fan Drives ................................................................................................ 262 Figure 192: Forecasted REO demand for AC compressors and fan drives from 2014 through 2020 .................................262

Miscellaneous .......................................................................................................................... 263 Figure 193: Forecasted REO demand for miscellaneous NdFeB-containing devices, 2014 through 2020 .........................263

Headphones: .............................................................................................................................. 264 Aftermarket Headphones ......................................................................................................... 264 Figure 194: Forecasted REO demand for aftermarket headphones from 2014 through 2020 .........................................264

Co-product Headphones ........................................................................................................... 265 Figure 195: Forecasted REO demand for co-product headphones from 2014 through 2020 ...........................................265

Audio Speakers: ......................................................................................................................... 266 OEM Car Speakers .................................................................................................................... 266 Figure 196: Forecasted REO demand for OEM car speakers from 2014 through 2020 ....................................................266

Aftermarket Car Speakers ......................................................................................................... 267 Figure 197: Forecasted REO demand for aftermarket car speakers from 2014 through 2020 .........................................267

Aftermarket Boat Speakers ....................................................................................................... 268 Figure 198: Forecasted REO demand for aftermarket boat speakers from 2014 through 2020 .......................................268

Speakers for Home Theater Systems ......................................................................................... 269 Figure 199: Forecasted REO demand for home theater system speakers from 2014 through 2020.................................269

Speakers for Home Stereo Systems ........................................................................................... 270 Figure 200: Forecasted REO demand for home stereo system speakers from 2014 through 2020 ..................................270

Speakers for Home Computers .................................................................................................. 271 Figure 201: Forecasted REO demand for home computer system speakers from 2014 through 2020 .............................271

Speakers in Televisions ............................................................................................................. 272 Figure 202: Forecasted REO demand for speakers in new televisions from 2014 through 2020 ......................................272

High-Performance Concert and Theater Speakers ...................................................................... 273 243

Figure 203: Forecasted REO demand for concert and theater speakers from 2014 through 2020 ...................................273

Portable Speakers..................................................................................................................... 274 Figure 204: Forecasted REO demand for portable speakers from 2014 through 2020 ....................................................274

Laptop Speakers ....................................................................................................................... 275 Figure 205: Forecasted REO demand for laptop speakers from 2014 through 2020 .......................................................275

Smartphone Loudspeakers........................................................................................................ 276 Figure 206: Forecasted REO demand for smartphone loudspeakers from 2014 through 2020 ........................................276

Consumer Electronics: ................................................................................................................ 277 Smartphone Vibration Motors .................................................................................................. 277 Figure 207: Forecasted REO demand for smartphone vibration motors from 2014 through 2020 ..................................277

HDDs for Laptops ...................................................................................................................... 278 Figure 208: Forecasted REO demand for HDDs for laptops from 2014 through 2020 ......................................................278

HDDs for Desktops.................................................................................................................... 279 Figure 209: Forecasted REO demand for HDDs for desktop PCs from 2014 through 2020 ..............................................279

HDDs for Replacement or External Use...................................................................................... 280 Figure 210: Forecasted REO demand for replacement and external HDDs from 2014 through 2020 ...............................280

HDDs for Video Game Consoles ................................................................................................. 281 Figure 211: Forecasted REO demand for game console HDDs from 2014 through 2020 .................................................281

ODDs for Laptops...................................................................................................................... 282 Figure 212: Forecasted REO demand for laptop ODDs from 2014 through 2020 ............................................................282

ODDs for Desktops ................................................................................................................... 283 Figure 213: Forecasted REO demand for desktop computer ODDs from 2014 through 2020 ..........................................283

ODDs for Replacement or External ............................................................................................ 284 Figure 214: Forecasted REO demand for replacement and external ODDs from 2014 through 2020 ...............................284

ODDs for Game Consoles .......................................................................................................... 285 Figure 215: Forecasted REO demand for game console ODDs from 2014 through 2020 .................................................285

ODDs for Blu-ray Players and Recorders .................................................................................... 286 Figure 216: Forecasted REO demand for Blu-ray player and recorder ODDs from 2014 through 2020 ............................286

ODDs for DVD Players and Recorders ........................................................................................ 287 Figure 217: Forecasted REO demand for DVD player and recorder ODDs from 2014 through 2020 ................................287

ODDs for CD Players and Recorders ........................................................................................... 288 Figure 218: Forecasted REO demand for CD player and recorder ODDs from 2014 through 2020 ...................................288

Medical: ..................................................................................................................................... 289 MRI Machines .......................................................................................................................... 289 Figure 219: Forecasted REO demand for low-field permanent MRI machine from 2014 through 2020 ...........................289

244

Sm-Co Permanent Magnets: ....................................................................................................... 290 Figure 220: Forecasted demand for samarium, samarium oxide, and SmCo alloy from 2014 through 2020 ....................290

245

Chapter 21: REO Demand for Phosphors from 2014 through 2020

TABLE OF CONTENTS

World REO Demand for Phosphors by Oxide from 2014 through 2020 ......................................... 292 Figure 221: Forecasted REO demand for phosphors from 2014 through 2020 ...............................................................292

World REO Demand for Phosphors by End-Use from 2014 through 2020 ...................................... 293 Figure 222: Relative TREO demand for phosphors by end-use application from 2014 through 2020 ...............................293

General Lighting: ........................................................................................................................ 294 Linear Fluorescent Lamps.......................................................................................................... 294 Figure 223: Forecasted REO demand for LFL lamp phosphors from 2014 through 2020 .................................................294

Compact Fluorescent Lamps...................................................................................................... 295 Figure 224: Forecasted REO demand for CFL lamp phosphors from 2014 through 2020 .................................................295

White-Light-Emitting Diodes ..................................................................................................... 296 Figure 225: Forecasted REO demand for phosphors for white LED lamps from 2014 through 2020 ................................296

White-Light-Emitting Diode Headlamps ..................................................................................... 297 Figure 226: Forecasted REO demand for LED headlamp phosphors from 2014 through 2020 .........................................297

Back Lighting: ............................................................................................................................. 298 Liquid Crystal Display Televisions .............................................................................................. 298 Figure 227: Forecasted REO demand for LCD television backlighting from 2014 through 2020 .......................................298

Liquid Crystal Display Monitors ................................................................................................. 299 Figure 228: Forecasted REO demand for LCD monitor backlighting from 2014 through 2020 .........................................299

Liquid Crystal Display Laptops Screens ...................................................................................... 300 Figure 229: Forecasted REO demand for LCD laptop screen backlighting from 2014 through 2020 .................................300

Handheld Liquid Crystal Display Screens .................................................................................... 301 Figure 230: Forecasted REO demand for handheld PC backlighting from 2014 through 2020 .........................................301

291

Chapter 22: REO Demand Other End-Uses from 2014 through 2020

TABLE OF CONTENTS

World REO Demand for Other End-Uses and Applications from 2014 through 2020...................... 304 Figure 231: Forecasted  REO  demand  for  ‘other’  end-uses and applications from 2014 through 2020 .............................304

World REO Demand for Other End-Uses by Category from 2014 through 2020 ............................. 305 Figure 232: Relative  TREO  demand  for  ‘other’  end-uses by category from 2014 through 2020 .......................................305

Medical: ..................................................................................................................................... 306 MRI Contrast Agent .................................................................................................................. 306 Figure 233: Forecasted REO demand for MRI contrast agent production from 2014 through 2020.................................306

X-Ray Intensifying Screens ........................................................................................................ 307 Figure 234: Forecasted REO demand for x-ray intensifying screens from 2014 through 2020 .........................................307

Defense: .................................................................................................................................... 308 World REO Demand for Defense by Region ............................................................................... 308 Figure 235: Forecasted REO demand for defense by region from 2014 through 2020 ....................................................308

World REO Demand for Defense by Oxide ................................................................................. 309 Figure 236: Forecasted REO demand for defense by oxide from 2014 through 2020 ......................................................309

Solid State Lasers and Optical Fiber:............................................................................................ 310 Laser Crystals ........................................................................................................................... 310 Figure 237: Forecasted REO demand for solid-state lasers from 2014 through 2020 ......................................................310

Optical Fiber ............................................................................................................................. 311 Figure 238: Forecasted REO demand for optical fiber from 2014 through 2020 .............................................................311

Agriculture: ................................................................................................................................ 312 Fertilizers ................................................................................................................................. 312 Figure 239: Forecasted REO demand for fertilizers from 2014 through 2020 .................................................................312

Food Supplements .................................................................................................................... 313 Figure 240: Forecasted REO demand for animal food supplements from 2014 through 2020 .........................................313

Other: ....................................................................................................................................... 314

302

Paint Drier ................................................................................................................................ 314 Figure 241: Forecasted REO demand for paint and coating driers from 2014 through 2020 ...........................................314

Adsorbents and Coagulants....................................................................................................... 315 Figure 242: Forecasted REO demand for adsorbents and coagulants from 2014 through 2020.......................................315

303

Chapter 23: Emerging End-Uses of REOs from 2014 through 2020

TABLE OF CONTENTS

Overview ................................................................................................................................... 317 Figure 243: Overview of some promising emerging rare earth end-uses and addressable market traits .........................317

PVC stabilizer ........................................................................................................................... 318 Figure 244: Potential REO consumption in PVC stabilizer in China from 2014 through 2020 ...........................................318

Remote phosphor LED lamps .................................................................................................... 319 Figure 245: Estimated REO consumption in remote phosphor LED lamps versus comparable alternatives ......................319

Magnetocaloric chillers ............................................................................................................. 320 Figure 246: Estimated REE-containing materials and materials costs for various magnetocaloric chillers ........................320

Anti-bacterial ceramics ............................................................................................................. 321 Figure 247: Estimated REE consumption and materials cost for anti-bacterial ceramics and glazes ................................321

Specialty alloys ......................................................................................................................... 322 Figure 248: Estimated price, target price, REE contents, and REE value in YBCO and Y-Al alloys .....................................322

Textile dyes, plastic colorants, and functional plastics................................................................ 323 Water filtration ........................................................................................................................ 324

316

Chapter 24: Rare Earth Demand by Region from 2014 through 2020

TABLE OF CONTENTS

World TREO Demand by Region from 2014 through 2020 ............................................................ 326 Figure 249: Forecasted TREO demand by region from 2014 through 2020 .....................................................................326

World TREO Demand by Region and End-Use Category from 2014 through 2020.......................... 327 Figure 250: Relative distribution of forecasted TREO demand by region from 2014 through 2020 ..................................327

Battery Alloys ........................................................................................................................... 328 Figure 251: Forecasted TREO demand by region for battery alloys from 2014 through 2020 ..........................................328

Catalytic Converters.................................................................................................................. 329 Figure 252: Forecasted TREO demand by region for catalytic converters from 2014 through 2020 .................................329

Ceramics, Pigments, and Glazes ................................................................................................ 330 Figure 253: Forecasted TREO demand by region for ceramics, pigments, and glazes from 2014 through 2020................330

Fuel Cracking Catalysts and Additives ........................................................................................ 331 Figure 254: Forecasted TREO demand by region for fuel cracking catalysts and additives from 2014 through 2020 ........331

Glass Polishing Powders and Additives ...................................................................................... 332 Figure 255: Forecasted TREO demand by region for glass polishing powders and additives from 2014 through 2020 .....332

Metallurgy and Alloys ............................................................................................................... 333 Figure 256: Forecasted TREO demand by region for metallurgy and alloys from 2014 through 2020 ..............................333

Permanent Magnets ................................................................................................................. 334 Figure 257: Forecasted TREO demand by region for permanent magnets from 2014 through 2020 ................................334

Phosphors ................................................................................................................................ 335 Figure 258: Forecasted TREO demand by region for phosphors from 2014 through 2020 ..............................................335

Other ....................................................................................................................................... 336 Figure 259: Forecasted TREO consumption by region for other end-uses from 2014 through 2020 ................................336

325

Chapter 25: Global Rare Earth Supply Forecasts from 2014 through 2020

TABLE OF CONTENTS

Scenario 1: World Mine Production of REOs by Oxide from 2014 through 2020 ............................ 339 Figure 260: Forecasted global REO production by oxide from 2014 through 2020 ..........................................................340

Scenario 1: World Mine Production of REOs by Region from 2014 through 2020 .......................... 341 Figure 261: Forecasted relative share of global REO production by region from 2014 through 2020...............................341

China Legal Production ............................................................................................................. 342 Figure 262: Forecasted legal REO production in China from 2014 through 2020 ............................................................342

China Illegal Production ............................................................................................................ 343 Figure 263: Forecasted illegal REO production in China from 2014 through 2020 ..........................................................343

U.S. Production ........................................................................................................................ 344 Figure 264: Forecasted REO production in the U.S. from 2014 through 2020 .................................................................344

Australia Production ................................................................................................................. 345 Figure 265: Forecasted REO production in Australia from 2014 through 2020 ...............................................................345

Rest of World Production .......................................................................................................... 346 Figure 266: Forecasted REO production by nation from the rest of the world from 2014 through 2020 ..........................347 Figure 267: Forecasted REO production by oxide from the rest of the world from 2014 through 2020 ...........................347

Scenario 2: World Mine Production of REOs by Oxide from 2014 through 2020 ............................ 348 Figure 268: Forecasted global REO production by oxide from 2014 through 2020 ..........................................................349

Scenario 2: World Mine Production of REOs by Region from 2014 through 2020 .......................... 350 Figure 269: Forecasted relative share of global REO production by region from 2014 through 2020...............................350

China Legal Production ............................................................................................................. 351 Figure 270: Forecasted legal REO production in China from 2014 through 2020 ............................................................351

China Illegal Production ............................................................................................................ 352 Figure 271: Forecasted illegal REO production in China from 2014 through 2020 ..........................................................352

U.S. Production ........................................................................................................................ 353 Figure 272: Forecasted REO production in the U.S. from 2014 through 2020 .................................................................353

Australia Production ................................................................................................................. 354 337

Figure 273: Forecasted REO production in Australia from 2014 through 2020 ...............................................................354

Rest of World Production .......................................................................................................... 355 Figure 274: Forecasted REO production by nation from the rest of the world from 2014 through 2020 ..........................356 Figure 275: Forecasted REO production by oxide from the rest of the world from 2014 through 2020 ...........................356

Comparison of the Two REO Supply Scenarios ............................................................................. 357 Figure 276: Comparison of global TREO production scenarios by amount and regional production share .......................357

338

Chapter 26: Rare Earth Supply-Demand Balance from 2014 through 2020

TABLE OF CONTENTS

Scenario 1: World REO Supply-Demand Balance from 2014 through 2020 .................................... 361 Figure 277: Forecasted TREO supply-demand balance from 2014 through 2020 for Scenario 1 ......................................361

Lanthanum Oxide: .................................................................................................................... 362 Figure 278: Forecasted supply-demand balance of lanthanum oxide from 2014 through 2020 ......................................362

Cerium Oxide:........................................................................................................................... 363 Figure 279: Forecasted supply-demand balance of cerium oxide from 2014 through 2020 ............................................363

Praseodymium Oxide:............................................................................................................... 364 Figure 280: Forecasted supply-demand balance of praseodymium oxide from 2014 through 2020 ................................364

Neodymium Oxide: ................................................................................................................... 365 Figure 281: Forecasted supply-demand balance of neodymium oxide from 2014 through 2020 .....................................365

Samarium Oxide: ...................................................................................................................... 366 Figure 282: Forecasted supply-demand balance of samarium oxide from 2014 through 2020 ........................................366

Europium Oxide:....................................................................................................................... 367 Figure 283: Forecasted supply-demand balance of europium oxide from 2014 through 2020 ........................................367

Gadolinium Oxide: .................................................................................................................... 368 Figure 284: Forecasted supply-demand balance of gadolinium oxide from 2014 through 2020 ......................................368

Terbium Oxide: ......................................................................................................................... 369 Figure 285: Forecasted supply-demand balance of terbium oxide from 2014 through 2020 ...........................................369

Dysprosium Oxide: ................................................................................................................... 370 Figure 286: Forecasted supply-demand balance of dysprosium oxide from 2014 through 2020 .....................................370

Holmium Oxide: ....................................................................................................................... 371 Figure 287: Forecasted supply-demand balance of holmium oxide from 2014 through 2020 .........................................371

Erbium Oxide:........................................................................................................................... 372 Figure 288: Forecasted supply-demand balance of erbium oxide from 2014 through 2020 ............................................372

Thulium Oxide: ......................................................................................................................... 373 Figure 289: Forecasted supply-demand balance of thulium oxide from 2014 through 2020 ...........................................373

358

Ytterbium Oxide: ...................................................................................................................... 374 Figure 290: Forecasted supply-demand balance of ytterbium oxide from 2014 through 2020 ........................................374

Lutetium Oxide: ........................................................................................................................ 375 Figure 291: Forecasted supply-demand balance of lutetium oxide from 2014 through 2020 ..........................................375

Yttrium Oxide: .......................................................................................................................... 376 Figure 292: Forecasted supply-demand balance of yttrium oxide from 2014 through 2020 ............................................376

Scenario 2: World REO Supply-Demand Balance from 2014 through 2020 .................................... 377 Figure 293: Forecasted TREO supply-demand balance from 2014 through 2020 for Scenario 2 ......................................377

Lanthanum Oxide: .................................................................................................................... 378 Figure 294: Forecasted supply-demand balance of lanthanum oxide from 2014 through 2020 ......................................378

Cerium Oxide:........................................................................................................................... 379 Figure 295: Forecasted supply-demand balance of cerium oxide from 2014 through 2020 ............................................379

Praseodymium Oxide:............................................................................................................... 380 Figure 296: Forecasted supply-demand balance of praseodymium oxide from 2014 through 2020 ................................380

Neodymium Oxide: ................................................................................................................... 381 Figure 297: Forecasted supply-demand balance of neodymium oxide from 2014 through 2020 .....................................381

Samarium Oxide: ...................................................................................................................... 382 Figure 298: Forecasted supply-demand balance of samarium oxide from 2014 through 2020 ........................................382

Europium Oxide:....................................................................................................................... 383 Figure 299: Forecasted supply-demand balance of europium oxide from 2014 through 2020 ........................................383

Gadolinium Oxide: .................................................................................................................... 384 Figure 300: Forecasted supply-demand balance of gadolinium oxide from 2014 through 2020 ......................................384

Terbium Oxide: ......................................................................................................................... 385 Figure 301: Forecasted supply-demand balance of terbium oxide from 2014 through 2020 ...........................................385

Dysprosium Oxide: ................................................................................................................... 386 Figure 302: Forecasted supply-demand balance of dysprosium oxide from 2014 through 2020 .....................................386

Holmium Oxide: ....................................................................................................................... 387 Figure 303: Forecasted supply-demand balance of lanthanum oxide from 2014 through 2020 ......................................387

Erbium Oxide:........................................................................................................................... 388 Figure 304: Forecasted supply-demand balance of erbium oxide from 2014 through 2020 ............................................388

Thulium Oxide: ......................................................................................................................... 389 Figure 305: Forecasted supply-demand balance of thulium oxide from 2014 through 2020 ...........................................389

Ytterbium Oxide: ...................................................................................................................... 390 Figure 306: Forecasted supply-demand balance of ytterbium oxide from 2014 through 2020 ........................................390

Lutetium Oxide: ........................................................................................................................ 391

359

Figure 307: Forecasted supply-demand balance of lutetium oxide from 2014 through 2020 ..........................................391

Yttrium Oxide: .......................................................................................................................... 392 Figure 308: Forecasted supply-demand balance of yttrium oxide from 2014 through 2020 ............................................392

360

Chapter 27: Rare Earth Price Forecasts from 2014 through 2020

TABLE OF CONTENTS

Methodology ............................................................................................................................. 395 Scenario 1: Rare Earth Price Forecasts from 2014 through 2020 ................................................... 396 Lanthanum Oxide: .................................................................................................................... 396 Figure 309: Forecasted market balance and price of lanthanum oxide from 2014 through 2020 ....................................396

Cerium Oxide:........................................................................................................................... 397 Figure 310: Forecasted market balance and price of cerium oxide from 2014 through 2020 ..........................................397

Praseodymium Oxide:............................................................................................................... 398 Figure 311: Forecasted market balance and price of praseodymium oxide from 2014 through 2020 ..............................398

Neodymium Oxide: ................................................................................................................... 399 Figure 312: Forecasted market balance and price of neodymium oxide from 2014 through 2020 ..................................399

Samarium Oxide: ...................................................................................................................... 400 Figure 313: Forecasted market balance and price of samarium oxide from 2014 through 2020......................................400

Europium Oxide:....................................................................................................................... 401 Figure 314: Forecasted market balance and price of europium oxide from 2014 through 2020 ......................................401

Gadolinium Oxide: .................................................................................................................... 402 Figure 315: Forecasted market balance and price of gadolinium oxide from 2014 through 2020 ....................................402

Terbium Oxide: ......................................................................................................................... 403 Figure 316: Forecasted market balance and price of terbium oxide from 2014 through 2020 ........................................403

Dysprosium Oxide: ................................................................................................................... 404 Figure 317: Forecasted market balance and price of dysprosium oxide from 2014 through 2020 ...................................404

Erbium Oxide:........................................................................................................................... 405 Figure 318: Forecasted market balance and price of erbium oxide from 2014 through 2020 ..........................................405

Yttrium Oxide: .......................................................................................................................... 406 Figure 319: Forecasted market balance and price of yttrium oxide from 2014 through 2020 .........................................406 Figure 320: Overview of Scenario 1 REO price forecasts from 2014 through 2020 for China domestic ............................407

393

Figure 321: Overview of Scenario 1 REO price forecasts from 2014 through 2020 for Chinese exports ...........................407 Figure 322: Table of Scenario 1 REO price forecasts from 2014 through 2020 for China domestic ($/kg) ........................408 Figure 323: Table of Scenario 1 REO price forecasts from 2014 through 2020 for Chinese exports ($/kg) .......................408

Scenario 2: Rare Earth Price Forecasts from 2014 through 2020 .......................................... 409 Lanthanum Oxide: .................................................................................................................... 409 Figure 324: Forecasted market balance and price of lanthanum oxide from 2014 through 2020 ....................................409

Cerium Oxide:........................................................................................................................... 410 Figure 325: Forecasted market balance and price of cerium oxide from 2014 through 2020 ..........................................410

Praseodymium Oxide:............................................................................................................... 411 Figure 326: Forecasted market balance and price of praseodymium oxide from 2014 through 2020 ..............................411

Neodymium Oxide: ................................................................................................................... 412 Figure 327: Forecasted market balance and price of neodymium oxide from 2014 through 2020 ..................................412

Samarium Oxide: ...................................................................................................................... 413 Figure 328: Forecasted market balance and price of samarium oxide from 2014 through 2020......................................413

Europium Oxide:....................................................................................................................... 414 Figure 329: Forecasted market balance and price of europium oxide from 2014 through 2020 ......................................414

Gadolinium Oxide: .................................................................................................................... 415 Figure 330: Forecasted market balance and price of gadolinium oxide from 2014 through 2020 ....................................415

Terbium Oxide: ......................................................................................................................... 416 Figure 331: Forecasted market balance and price of terbium oxide from 2014 through 2020 ........................................416

Dysprosium Oxide: ................................................................................................................... 417 Figure 332: Forecasted market balance and price of dysprosium oxide from 2014 through 2020 ...................................417

Erbium Oxide:........................................................................................................................... 418 Figure 333: Forecasted market balance and price of erbium oxide from 2014 through 2020 ..........................................418

Yttrium Oxide: .......................................................................................................................... 419 Figure 334: Forecasted market balance and price of yttrium oxide from 2014 through 2020 .........................................419 Figure 335: Overview of Scenario 2 REO price forecasts from 2014 through 2020 for China domestic ............................420 Figure 336: Overview of Scenario 2 REO price forecasts from 2014 through 2020 for Chinese exports ...........................420 Figure 337: Table of Scenario 2 REO price forecasts from 2014 through 2020 for China domestic ($/kg) ........................421 Figure 338: Table of Scenario 2 REO price forecasts from 2014 through 2020 for Chinese exports ($/kg) .......................421

394

Chapter 28: Forecasted Value of Rare Earth Demand from 2014 through 2020

TABLE OF CONTENTS

Methodology ............................................................................................................................. 424 Scenario 1: Value of Rare Earth Demand by REO from 2014 through 2020.................................... 425 Figure 339: Forecasted value of global REO demand by oxide from 2014 through 2020 .................................................425

Scenario 1: Relative Value of Rare Earth Demand by REO from 2014 through 2020 ...................... 426 Figure 340: Forecasted relative value of global REO demand by oxide from 2014 through 2020 ....................................426

Scenario 1: Value of Rare Earth Demand by End-Use from 2014 through 2020 ............................. 427 Figure 341: Forecasted value of global TREO demand by end-use category from 2014 through 2020 .............................427

Scenario 1: Relative Value of Rare Earth Demand by End-Use from 2014 through 2020 ................ 428 Figure 342: Relative value of global TREO demand by end-use category from 2014 through 2020..................................428

Battery Alloys ........................................................................................................................... 429 Figure 343: Forecasted value of global REO demand for battery alloys from 2014 through 2020 ....................................429

Catalytic Converters.................................................................................................................. 430 Figure 344: Forecasted value of global REO demand for catalytic converters from 2014 through 2020...........................430

Ceramics, Pigments, and Glazes ................................................................................................ 431 Figure 345: Forecasted value of global REO demand for ceramics from 2014 through 2020 ...........................................431

Fuel Cracking Catalysts and Additives ........................................................................................ 432 Figure 346: Forecasted value of global REO demand for fuel cracking catalysts from 2014 through 2020 .......................432

Glass Polishing Powders and Additives ...................................................................................... 433 Figure 347: Forecasted value of global REO demand for polishing powders and additives from 2014 through 2020 .......433

Metallurgy and Alloys ............................................................................................................... 434 Figure 348: Forecasted value of global REO demand for metallurgy and alloys from 2014 through 2020 ........................434

Permanent Magnets ................................................................................................................. 435 Figure 349: Forecasted value of global REO demand for permanent magnets from 2014 through 2020 .........................435

Phosphors ................................................................................................................................ 436 422

Figure 350: Forecasted value of global REO demand for phosphors from 2014 through 2020 ........................................436

Other ....................................................................................................................................... 437 Figure 351: Forecasted value of global REO demand for other end-uses from 2014 through 2020 .................................437

Scenario 2: Value of Rare Earth Demand by REO from 2014 through 2020.................................... 438 Figure 352: Forecasted value of global REO demand by oxide from 2014 through 2020 .................................................438

Scenario 2: Relative Value of Rare Earth Demand by REO from 2014 through 2020 ...................... 439 Figure 353: Forecasted relative value of global REO demand by oxide from 2014 through 2020 ....................................439

Scenario 2: Value of Rare Earth Demand by End-Use from 2014 through 2020 ............................. 440 Figure 354: Forecasted value of global TREO demand by end-use category from 2014 through 2020 .............................440

Scenario 2: Relative Value of Rare Earth Demand by End-Use from 2014 through 2020 ................ 441 Figure 355: Relative value of global TREO demand by end-use category from 2014 through 2020..................................441

Battery Alloys ........................................................................................................................... 442 Figure 356: Forecasted value of global REO demand for battery alloys from 2014 through 2020 ....................................442

Catalytic Converters.................................................................................................................. 443 Figure 357: Forecasted value of global REO demand for catalytic converters from 2014 through 2020...........................443

Ceramics, Pigments, and Glazes ................................................................................................ 444 Figure 358: Forecasted value of global REO demand for ceramics from 2014 through 2020 ...........................................444

Fuel Cracking Catalysts and Additives ........................................................................................ 445 Figure 359: Forecasted value of global REO demand for fuel cracking catalysts from 2014 through 2020 .......................445

Glass Polishing Powders and Additives ...................................................................................... 446 Figure 360: Forecasted value of global REO demand for polishing powders and additives from 2014 through 2020 .......446

Metallurgy and Alloys ............................................................................................................... 447 Figure 361: Forecasted value of global REO demand for metallurgy and alloys from 2014 through 2020 ........................447

Permanent Magnets ................................................................................................................. 448 Figure 362: Forecasted value of global REO demand for permanent magnets from 2014 through 2020 .........................448

Phosphors ................................................................................................................................ 449 Figure 363: Forecasted value of global REO demand for phosphors from 2014 through 2020 ........................................449

Other ....................................................................................................................................... 450 Figure 364: Forecasted value of global REO demand for other end-uses from 2014 through 2020 .................................450

423

Chapter 29: Rare Earth Market Outlook

TABLE OF CONTENTS

Demand for all REOs will grow from 2014 through 2020 .............................................................. 452 Demand for REOs will grow in nearly all end-use categories from 2014 through 2020 .................. 452 The value of global REO demand will grow faster than REO demand itself ................................... 452 China’s  share  of  global  REO  demand  will  continue  to  grow  from  2014  through  2020 .................... 453 Shortages of neodymium and dysprosium threaten the permanent magnet industry ................... 453 Shortages of lanthanum oxide could translate into higher gas prices at the pump ........................ 453 Amidst REO shortages, preference will go to high-margin, high-purity end-uses........................... 454 Mischmetal formulations are economically-outdated and in need of reinvention ........................ 454 Heavy rare earth supply risks are overstated ............................................................................... 454 Decreasing illegal REO production amplifies the need for new production sources ....................... 455 Chinese inventories of certain REOs are becoming increasingly tight ........................................... 455 The inherently imbalanced nature of the market calls for a push-based approach ........................ 456 Several emerging end-uses of rare earths could transform the market outlook ............................ 456 Some nations are off-track to meet their clean energy targets, good news for demand ................ 457

451

Appendices: 2008 - 2020

TABLE OF CONTENTS Appendices: 2008 - 2020.......................................................................................................................... 458 A1: Global Production and Demand ........................................................................................................ 459 A2: Battery Alloys .................................................................................................................................... 463 A3: Catalytic Converters .......................................................................................................................... 472 A4: Ceramics ............................................................................................................................................ 478 A5: Fuel Cracking Catalysts and Additives ............................................................................................. 487 A6: Glass Polishing Powders and Additives ........................................................................................... 491 A7: Metallurgy and Alloys ....................................................................................................................... 496 A8: Permanent Magnets ......................................................................................................................... 502 A9: Phosphors .......................................................................................................................................... 547 A10: Other End-Uses and Applications ................................................................................................... 555 References ............................................................................................................................................... 565

458

A1: Global Production and Demand

TABLE OF CONTENTS

Global Mine Production of REOs: 2008 - 2020 ............................................................................. 460 Global Mine Production of REOs (Scenario 1) ............................................................................ 460 Figure A1: Estimated and forecasted global mine production of REOs from 2008 through 2020 .....................................460

Global Mine Production of REOs (Scenario 2) ............................................................................ 460 Figure A2: Estimated and forecasted global mine production of REOs from 2008 through 2020.....................................460

Global REO Consumption and Demand: 2008 - 2020 .................................................................... 461 Global REO Consumption and Demand ...................................................................................... 461 Figure A3: Estimated global consumption and forecasted global demand for REOs from 2008 through 2020 .................461

Relative Distribution of Global REO Consumption and Demand ................................................. 461 Figure A4: Relative distribution of global REO consumption and demand from 2008 through 2020 ................................461

Global TREO Consumption and Demand by End-Use: 2008 - 2020 ................................................ 462 Global TREO Consumption and Demand by End-Use .................................................................. 462 Figure A5: Estimated global consumption and forecasted global demand for REOs from 2008 through 2020 .................462

Relative Distribution of Global TREO Consumption and Demand by End-Use .............................. 462 Figure A6: Relative distribution of global TREO consumption by end-use from 2008 through 2020 ................................462

459

A2: Battery Alloys

TABLE OF CONTENTS

Battery Alloys: 2008 - 2020 ......................................................................................................... 465 Global REO Consumption and Demand for Battery Alloys ............................................................ 465 Figure A7: Estimated global consumption and forecasted global demand for REOs for battery alloys from 2008 through 2020 ............................................................................................................................................................................465

Relative Consumption by REO for Battery Alloys ......................................................................... 465 Figure A8: Relative distribution of global consumption and forecasted global demand for REOs for battery alloys from 2008 through 2020 ......................................................................................................................................................465

Global REO Consumption for Battery Alloys by End-Use .............................................................. 466 Figure A9: Estimated REO consumption and forecasted REO demand for battery alloys by end-use from 2008 through 2020 ............................................................................................................................................................................466

HEVs and PHEVs ....................................................................................................................... 466 Figure A10: Estimated REO consumption and forecasted REO demand for battery alloys for HEVs and PHEVs from 2008 through 2020 ...............................................................................................................................................................466

Electric Bicycles ........................................................................................................................ 467 Figure A11: Estimated REO consumption and forecasted REO demand for battery alloys for electric bicycles from 2008 through 2020 ...............................................................................................................................................................467

Cordless Powertools ................................................................................................................. 467 Figure A12: Estimated REO consumption and forecasted REO demand for battery alloys for cordless powertools from 2008 through 2020 ......................................................................................................................................................467

Cordless Phones ....................................................................................................................... 468 Figure A13: Estimated REO consumption and forecasted REO demand for battery alloys for cordless phones from 2008 through 2020 ...............................................................................................................................................................468

Digital Still Cameras .................................................................................................................. 468 Figure A14: Estimated REO consumption and forecasted REO demand for battery alloys for digital still cameras from 2008 through 2020 ...............................................................................................................................................................468

Rechargeable Toothbrushes ...................................................................................................... 469 Figure A15: Estimated REO consumption and forecasted REO demand for battery alloys for rechargeable toothbrushes from 2008 through 2020 ..............................................................................................................................................469

Rechargeable Shavers ............................................................................................................... 469 463

Figure A16: Estimated REO consumption and forecasted REO demand for battery alloys for rechargeable shavers from 2008 through 2020 ......................................................................................................................................................469

Electric Wheelchairs ................................................................................................................. 470 Figure A17: Estimated REO consumption and forecasted REO demand for battery alloys for electric wheelchairs from 2008 through 2020 ......................................................................................................................................................470

Two-Way Radios ....................................................................................................................... 470 Figure A18: Estimated REO consumption and forecasted REO demand for battery alloys for two-way radios from 2008 through 2020 ...............................................................................................................................................................470

Rechargeable 1.2V Single-Cells .................................................................................................. 471 Figure A19: Estimated REO consumption and forecasted REO demand for battery alloys for rechargeable single cell batteries from 2008 through 2020 ...............................................................................................................................471

Miscellaneous NiMH Batteries .................................................................................................. 471 Figure A20: Estimated REO consumption and forecasted REO demand for battery alloys for miscellaneous NiMH batteries from 2008 through 2020 ..............................................................................................................................................471

464

A3: Catalytic Converters

TABLE OF CONTENTS

Catalytic Converters: 2008 – 2020 ............................................................................................... 473 Global REO Consumption and Demand for Catalytic Converters................................................... 473 Figure A21: Estimated global consumption and forecasted global demand for REOs for catalytic converters from 2008 through 2020 ...............................................................................................................................................................473

Relative Consumption by REO for Catalytic Converters ................................................................ 473 Figure A22: Relative distribution of REO consumption and demand for catalytic converters from 2008 through 2020 ....473

Global REO Consumption for Catalytic Converters by End-Use ..................................................... 474 Figure A23: Relative distribution of TREO consumption and demand by catalytic converter end-use from 2008 through 2020 ............................................................................................................................................................................474

Catalytic Converters for Cars ..................................................................................................... 474 Figure A24: Estimated global REO consumption and forecasted REO demand for catalytic converters for cars ...............474

Catalytic Converters for Light Commercial Vehicles.................................................................... 475 Figure A25: Estimated global REO consumption and forecasted REO demand for catalytic converters for light commercial vehicles .......................................................................................................................................................................475

Catalytic Converters for Heavy Trucks ....................................................................................... 475 Figure A26: Estimated global REO consumption and forecasted REO demand for catalytic converters for heavy trucks ..475

Catalytic Converters for Heavy Buses ........................................................................................ 476 Figure A27: Estimated global REO consumption and forecasted REO demand for catalytic converters for heavy buses ..476

Catalytic Converters for Motorcycles ......................................................................................... 476 Figure A28: Estimated global REO consumption and forecasted REO demand for catalytic converters for motorcycles .. 476

Catalytic Converters for Scooters .............................................................................................. 477 Figure A29: Estimated global REO consumption and forecasted REO demand for catalytic converters for scooters ........477

472

A4: Ceramics

TABLE OF CONTENTS Ceramics: 2008 – 2020 ................................................................................................................ 480 Global REO Consumption and Demand for Ceramics ................................................................... 480 Figure A30: Estimated global consumption and forecasted global demand for REOs for ceramics, glazes, and pigments from 2008 through 2020 ..............................................................................................................................................480

Relative Consumption by REO for Ceramics ................................................................................. 480 Figure A31: Relative distribution of REO consumption and demand for ceramics, glazes, and pigments from 2008 through 2020 ............................................................................................................................................................................480

Global REO Consumption for Ceramics by End-Use ...................................................................... 481 Figure A32: Relative distribution of TREO consumption and demand for ceramics, glazes, and pigments by end-use from 2008 through 2020 ......................................................................................................................................................481

Ceramic Capacitors ................................................................................................................... 481 Figure A33: Estimated global consumption and forecasted global demand for REOs for ceramic capacitors from 2008 through 2020 ...............................................................................................................................................................481

Grinding Media......................................................................................................................... 482 Figure A34: Estimated global consumption and forecasted global demand for REOs for ceramic grinding media from 2008 through 2020 ...............................................................................................................................................................482

Thermal Barrier Coatings .......................................................................................................... 482 Figure A35: Estimated global consumption and forecasted global demand for REOs for thermal barrier coatings from 2008 through 2020 ...............................................................................................................................................................482

Pigments and Glazes ................................................................................................................. 483 Figure A36: Estimated global consumption and forecasted global demand for REOs for pigments and glazes from 2008 through 2020 ...............................................................................................................................................................483

Conductive Ceramics ................................................................................................................ 483 Figure A37: Estimated global consumption and forecasted global demand for REOs for conductive ceramics from 2008 through 2020 ...............................................................................................................................................................483

Structural Ceramics................................................................................................................... 484 Figure A38: Estimated global consumption and forecasted global demand for REOs for structural ceramics from 2008 through 2020 ...............................................................................................................................................................484

Bio Ceramics............................................................................................................................. 484 478

Figure A39: Estimated global consumption and forecasted global demand for REOs for bio ceramics from 2008 through 2020 ............................................................................................................................................................................484

Functional Ceramics.................................................................................................................. 485 Figure A40: Estimated global consumption and forecasted global demand for REOs for functional ceramics from 2008 through 2020 ...............................................................................................................................................................485

Transparent Ceramics ............................................................................................................... 485 Figure A41: Estimated global consumption and forecasted global demand for REOs for transparent ceramics from 2008 through 2020 ...............................................................................................................................................................485

Cutting Tools ............................................................................................................................ 486 Figure A42: Estimated global consumption and forecasted global demand for REOs for ceramic cutting tools from 2008 through 2020 ...............................................................................................................................................................486

Superconducting Ceramics ........................................................................................................ 486 Figure A43: Estimated global consumption and forecasted global demand for REOs for superconducting ceramics from 2008 through 2020 ......................................................................................................................................................486

479

A5: Fuel Cracking Catalysts and Additives

TABLE OF CONTENTS

Fuel Cracking Catalysts and Additives: 2008 – 2020 ..................................................................... 488 Global REO Consumption and Demand for Fuel Cracking Catalysts and Additives ......................... 488 Figure A44: Estimated global consumption and forecasted global demand for REOs for fuel cracking catalysts, fuel cracking catalyst additives, and fuel-borne catalysts from 2008 through 2020 ...............................................................488

Relative Consumption by REO for Fuel Cracking Catalysts and Additives ...................................... 488 Figure A45: Relative distribution of global REO consumption and demand for fuel cracking catalysts, fuel cracking catalyst additives, and fuel-borne catalysts from 2008 through 2020 .........................................................................................488

Global REO Consumption for Fuel Cracking Catalysts and Additives by End-Use ........................... 489 Figure A46: Relative distribution of global TREO consumption and demand by end-use for fuel cracking catalysts, fuel cracking catalyst additives, and fuel-borne catalysts from 2008 through 2020 ...............................................................489

Fuel Cracking Catalysts.............................................................................................................. 489 Figure A47: Estimated global REO consumption and forecasted demand for REOs for fuel cracking catalysts from 2008 through 2020 ...............................................................................................................................................................489

Fuel Cracking Catalyst Additives ................................................................................................ 490 Figure A48: Estimated global REO consumption and forecasted demand for REOs for fuel cracking catalyst additives from 2008 through 2020 ......................................................................................................................................................490

Fuel-borne Catalysts ................................................................................................................. 490 Figure A49: Estimated global REO consumption and forecasted demand for REOs for fuel-borne catalysts from 2008 through 2020 ...............................................................................................................................................................490

487

A6: Glass Polishing Powders and Additives

TABLE OF CONTENTS Glass Polishing Powders and Additives: 2008 – 2020 ................................................................... 492 Global REO Consumption and Demand for Glass Polishing Powders and Additives ....................... 492 Figure A50: Estimated global consumption and forecasted global demand for REOs for glass polishing powders and additives from 2008 through 2020 ...............................................................................................................................492

Relative Consumption by REO for Glass Polishing Powders and Additives .................................... 492 Figure A51: Relative distribution of global REO consumption and demand for glass polishing powders and additives from 2008 through 2020 ......................................................................................................................................................492

Global REO Consumption for Glass Polishing Powders and Additives by End-Use ......................... 493 Figure A52: Relative distribution of global TREO consumption and demand by end-use for glass polishing powders and additives from 2008 through 2020 ...............................................................................................................................493

Optical Glass............................................................................................................................. 493 Figure A53: Estimated global REO consumption and forecasted REO demand for optical glass from 2008 through 2020 493

Glass Additives ......................................................................................................................... 494 Figure A54: Estimated global REO consumption and forecasted REO demand for glass additives from 2008 through 2020 ...................................................................................................................................................................................494

Low-Ce Glass Polishing Powders................................................................................................ 494 Figure A55: Estimated global REO consumption and forecasted REO demand for low-Ce glass polishing powders from 2008 through 2020 ......................................................................................................................................................494

High-Ce Glass Polishing Powders ............................................................................................... 495 Figure A56: Estimated global REO consumption and forecasted REO demand for high-Ce glass polishing powders from 2008 through 2020 ......................................................................................................................................................495

Ultra-High-Ce Glass Polishing Powders ...................................................................................... 495 Figure A57: Estimated global REO consumption and forecasted REO demand for ultra-high-Ce glass polishing powders from 2008 through 2020 ..............................................................................................................................................495

491

A7: Metallurgy and Alloys

TABLE OF CONTENTS Metallurgy and Alloys: 2008 – 2020 ............................................................................................ 497 Global REO Consumption and Demand for Metallurgy and Alloys ................................................ 497 Figure A58: Estimated global consumption and forecasted global demand for REOs for metallurgy and alloys from 2008 through 2020 ...............................................................................................................................................................497

Relative Consumption by REO for Metallurgy and Alloys ............................................................. 497 Figure A59: Relative distribution of global REO consumption and demand for metallurgy and alloys from 2008 through 2020 ............................................................................................................................................................................497

Global TREO Consumption for Metallurgy and Alloys by End-Use................................................. 498 Figure A60: Relative distribution of global TREO consumption and demand by end-use for metallurgy and alloys from 2008 through 2020 ......................................................................................................................................................498

Steelmaking ............................................................................................................................. 498 Figure A61: Estimated global REO consumption and forecasted REO demand for steelmaking from 2008 through 2020 498

Ductile Iron Production ............................................................................................................. 499 Figure A62: Estimated global REO consumption and forecasted REO demand for ductile iron production from 2008 through 2020 ...............................................................................................................................................................499

RE-Mg Alloys ............................................................................................................................ 499 Figure A63: Estimated global REO consumption and forecasted REO demand for RE-Mg alloys from 2008 through 2020499

Fe-Gd Alloys ............................................................................................................................. 500 Figure A64: Estimated global REO consumption and forecasted REO demand for Fe-Gd alloys from 2008 through 2020 500

Fe-Ho Alloys ............................................................................................................................. 500 Figure A65: Estimated global REO consumption and forecasted REO demand for Fe-Ho alloys from 2008 through 2020 500

Terfenol-D ................................................................................................................................ 501 Figure A66: Estimated global REO consumption and forecasted REO demand for Terfenol-D alloys from 2008 through 2020 ............................................................................................................................................................................501

496

A8: Permanent Magnets

TABLE OF CONTENTS

Permanent Magnets: 2008 – 2020............................................................................................... 507 Global REO Consumption and Demand for Permanent Magnets .................................................. 507 Figure A67: Estimated global consumption and forecasted global demand for REOs for permanent magnets from 2008 through 2020 ...............................................................................................................................................................507

Relative Consumption by REO for Permanent Magnets ............................................................... 507 Figure A68: Relative distribution of global REO consumption and demand for permanent magnets from 2008 through 2020 ............................................................................................................................................................................507

Global REO Consumption for Permanent Magnets by End-Use .................................................... 508 Figure A69: Relative distribution of global TREO consumption and demand by end-use for permanent magnets from 2008 through 2020 ...............................................................................................................................................................508

Hard Disk Drives and Optical Disk Drives: .................................................................................. 509 Hard Disk Drives (HDDs) for Laptops.......................................................................................... 509 Figure A70: Estimated REO consumption and forecasted REO demand for HDDs for laptops .........................................509

Hard Disk Drives (HDDs) for Desktops ....................................................................................... 509 Figure A71: Estimated REO consumption and forecasted REO demand for HDDs for desktops .......................................509

External and Replacement HDDs ............................................................................................... 510 Figure A72: Estimated REO consumption and forecasted REO demand for external and replacement HDDs ..................510

Hard Disk Drives (HDDs) for Game Consoles .............................................................................. 510 Figure A73: Estimated REO consumption and forecasted REO demand for game console HDDs .....................................510

Optical Disk Drives (ODDs) for Laptops ...................................................................................... 511 Figure A74: Estimated REO consumption and forecasted REO demand for ODDs for laptops .........................................511

Optical Disk Drives (ODDs) for Desktops .................................................................................... 511 Figure A75: Estimated REO consumption and forecasted REO demand for ODDs for desktops .......................................511

External and Replacement ODDs ............................................................................................... 512 Figure A76: Estimated REO consumption and forecasted REO demand for replacement and external ODDs ..................512

Optical Disk Drives (ODDs) for Game Consoles........................................................................... 512 502

Figure A77: Estimated REO consumption and forecasted REO demand for game console ODDs .....................................512

Optical Disk Drives (ODDs) for DVD Players and Recorders......................................................... 513 Figure A78: Estimated REO consumption and forecasted REO demand for DVD player and recorder ODDs ....................513

Optical Disk Drives (ODDs) for Blu-ray Players and Recorders .................................................... 513 Figure A79: Estimated REO consumption and forecasted REO demand for Blu-ray player and recorder ODDs ................513

Optical Disk Drives (ODDs) for Stationary CD Players and Recorders .......................................... 514 Figure A80: Estimated REO consumption and forecasted REO demand for stationary CD player and recorder ODDs ......514

Optical Disk Drives (ODDs) for Portable CD Players and Recorders ............................................. 514 Figure A81: Estimated REO consumption and forecasted REO demand for portable CD player and recorder ODDs ........514

Industrial End-Uses: ................................................................................................................... 515 Magnetic Separation ................................................................................................................ 515 Figure A82: Estimated REO consumption and forecasted REO demand for magnetic separation systems .......................515

Torque Coupled Drives.............................................................................................................. 515 Figure A83: Estimated REO consumption and forecasted REO demand for torque-coupled drives .................................515

Magnetic Sensors ..................................................................................................................... 516 Figure A84: Estimated REO consumption and forecasted REO demand for magnetic sensors .........................................516

Hysteresis Clutches ................................................................................................................... 516 Figure A85: Estimated REO consumption and forecasted REO demand for hysteresis clutches ......................................516

AC Compressor and Fan Drives .................................................................................................. 517 Figure A86: Estimated REO consumption and forecasted REO demand for AC compressor and fan drives ......................517

Energy Storage Systems ............................................................................................................ 517 Figure A87: Estimated REO consumption and forecasted REO demand for energy storage systems ...............................517

Magnetic Lifters........................................................................................................................ 518 Figure A88: Estimated REO consumption and forecasted REO demand for magnetic lifters ...........................................518

Miscellaneous Industrial ........................................................................................................... 518 Figure A89: Estimated REO consumption and forecasted REO demand for other miscellaneous industrial applications ..518

Transportation: .......................................................................................................................... 519 Hybrid Electric Vehicles (HEVs) and Plugin Hybrid Electric Vehicles (PHEVs) ................................ 519 Figure A90: Estimated REO consumption and forecasted REO demand for HEV and PHEV powertrain motors ...............519

Electric Vehicles (EVs) ............................................................................................................... 519 Figure A91: Estimated REO consumption and forecasted REO demand for HEV and PHEV powertrain motors ...............519

Electric Bicycles ........................................................................................................................ 520 Figure A92: Estimated REO consumption and forecasted REO demand for e-bike drive motors .....................................520

Electric Scooters ....................................................................................................................... 520 Figure A93: Estimated REO consumption and forecasted REO demand for electric scooters drive motors ......................520

503

Electric Motorcycles.................................................................................................................. 521 Figure A94: Estimated REO consumption and forecasted REO demand for electric motorcycle drive motors..................521

General Purpose Electric Motors for Vehicles ............................................................................ 521 Figure A95: Estimated REO consumption and forecasted REO demand for general purpose electric motors for vehicles 521

Power Generation: ..................................................................................................................... 522 On- and Off-Shore Wind Power Generation ............................................................................... 522 Figure A96: Estimated REO consumption and forecasted REO demand for on- and off-shore wind power generation turbines .......................................................................................................................................................................522

Low-Voltage Electric Motors: ...................................................................................................... 523 0.75 kW – 2.1 kW Electric Motors .............................................................................................. 523 Figure A97: Estimated REO consumption and forecasted REO demand for 0.75 kW – 2.1 kW electric motors ................523

2.2 kW – 7.4 kW Electric Motors................................................................................................ 523 Figure A98: Estimated REO consumption and forecasted REO demand for 2.2 kW - 7.4 kW electric motors ...................523

7.5 kW – 45 kW Electric Motors................................................................................................. 524 Figure A99: Estimated REO consumption and forecasted REO demand for 7.5 kW - 45 kW electric motors ....................524

46 kW – 75 kW Electric Motors ................................................................................................. 524 Figure A100: Estimated REO consumption and forecasted REO demand for 46 kW - 75 kW electric motors ...................524

76 kW – 110 kW Electric Motors ................................................................................................ 525 Figure A101: Estimated REO consumption and forecasted REO demand for 76 kW - 110 kW electric motors .................525

111 kW – 375 kW Electric Motors .............................................................................................. 525 Figure A102: Estimated REO consumption and forecasted REO demand for 111 kW - 375 kW electric motors ...............525

376 kW+ Electric Motors ........................................................................................................... 526 Figure A103: Estimated REO consumption and forecasted REO demand for 376 kW+ electric motors ............................526

Headphones and Audio Speakers: ............................................................................................... 527 Aftermarket In-ear Headphones ................................................................................................ 527 Figure A104: Estimated REO consumption and forecasted REO demand for aftermarket in-ear headphones .................527

Aftermarket On-ear Headphones .............................................................................................. 527 Figure A105: Estimated REO consumption and forecasted REO demand for aftermarket on-ear headphones ................527

Aftermarket Over-ear Headphones ........................................................................................... 528 Figure A106: Estimated REO consumption and forecasted REO demand for aftermarket over-ear headphones .............528

In-ear Headphones Sold with Smartphones ............................................................................... 528 Figure A107: Estimated REO consumption and forecasted REO demand for in-ear headphones sold with smartphones .528

In-ear Headphones Sold with Tablets ........................................................................................ 529 Figure A108: Estimated REO consumption and forecasted REO demand for in-ear headphones sold with tablets...........529

In-ear Headphones Sold with MP3 Players and Personal Media Players (PMPs) .......................... 529

504

Figure A109: Estimated REO consumption and forecasted REO demand for in-ear headphones sold with MP3 players and PMPs ...........................................................................................................................................................................529

OEM Tweeters for Automobiles ................................................................................................ 530 Figure A110: Estimated REO consumption and forecasted REO demand for OEM tweeters for automobiles ..................530

OEM Door Speakers for Automobiles ........................................................................................ 530 Figure A111: Estimated REO consumption and forecasted REO demand for OEM door speakers for automobiles ..........530

OEM Mid-range Speakers for Automobiles ................................................................................ 531 Figure A112: Estimated REO consumption and forecasted REO demand for OEM mid-range speakers for automobiles ..531

OEM Subwoofers for Automobiles ............................................................................................ 531 Figure A113: Estimated REO consumption and forecasted REO demand for OEM subwoofers for automobiles ..............531

Aftermarket Tweeters for Automobiles ..................................................................................... 532 Figure A114: Estimated REO consumption and forecasted REO demand for aftermarket tweeters for automobiles .......532

Aftermarket Door Speakers for Automobiles ............................................................................. 532 Figure A115: Estimated REO consumption and forecasted REO demand for aftermarket door speakers for automobiles532

Aftermarket Subwoofers for Automobiles ................................................................................. 533 Figure A116: Estimated REO consumption and forecasted REO demand for aftermarket subwoofers for automobiles ... 533

Aftermarket Tweeters for Boats ................................................................................................ 533 Figure A117: Estimated REO consumption and forecasted REO demand for aftermarket tweeters for boats ..................533

Aftermarket Mid-Range Speakers for Boats ............................................................................... 534 Figure A118: Estimated REO consumption and forecasted REO demand for aftermarket mid-range speakers for boats .534

Aftermarket Subwoofers for Boats ............................................................................................ 534 Figure A119: Estimated REO consumption and forecasted REO demand for aftermarket subwoofers for boats ..............534

Tweeters for Home Theater Systems ......................................................................................... 535 Figure A120: Estimated REO consumption and forecasted REO demand for tweeters for home theater systems ...........535

Mid-Range Speakers for Home Theater Systems ........................................................................ 535 Figure A121: Estimated REO consumption and forecasted REO demand for mid-range speakers for home theater systems ...................................................................................................................................................................................535

Subwoofers for Home Theater Systems ..................................................................................... 536 Figure A122: Estimated REO consumption and forecasted REO demand for subwoofers for home theater systems .......536

Tweeters for Home Stereo Systems ........................................................................................... 536 Figure A123: Estimated REO consumption and forecasted REO demand for tweeters for home stereo systems .............536

Mid-Range Speakers for Home Stereo Systems .......................................................................... 537 Figure A124: Estimated REO consumption and forecasted REO demand for mid-range speakers for home stereo systems ...................................................................................................................................................................................537

Subwoofers for Home Stereo Systems ....................................................................................... 537 Figure A125: Estimated REO consumption and forecasted REO demand for subwoofers for home stereo systems .........537

Satellite Speakers for Home Computer Systems......................................................................... 538 505

Figure A126: Estimated REO consumption and forecasted REO demand for satellite speakers for home computer systems ...................................................................................................................................................................................538

Subwoofers for Home Computer Systems ................................................................................. 538 Figure A127: Estimated REO consumption and forecasted REO demand for subwoofers for home computer systems ... 538

Internal Tweeters for Televisions .............................................................................................. 539 Figure A128: Estimated REO consumption and forecasted REO demand for internal television tweeters .......................539

Internal Subwoofers for Televisions .......................................................................................... 539 Figure A129: Estimated REO consumption and forecasted REO demand for internal television subwoofers ...................539

Concert and Performance Speakers ........................................................................................... 540 Figure A130: Estimated REO consumption and forecasted REO demand for concert and performance speakers ............540

Portable Speakers..................................................................................................................... 540 Figure A131: Estimated REO consumption and forecasted REO demand for portable speakers ......................................540

Internal Laptop Speakers .......................................................................................................... 541 Figure A132: Estimated REO consumption and forecasted REO demand for laptop speakers .........................................541

Mobile Phone Loudspeakers ..................................................................................................... 541 Figure A133: Estimated REO consumption and forecasted REO demand for mobile phone loudspeakers .......................541

Mobile Phone Vibration Motors ................................................................................................ 542 Figure A134: Estimated REO consumption and forecasted REO demand for mobile phone vibration motors ..................542

Low-Field Permanent MRI Machines: .......................................................................................... 543 0.2 Tesla MRI Machines ............................................................................................................ 543 Figure A135: Estimated REO consumption and forecasted REO demand for 0.2 Tesla MRI machines .............................543

0.3 Tesla MRI Machines ............................................................................................................ 543 Figure A136: Estimated REO consumption and forecasted REO demand for 0.3 Tesla MRI machines .............................543

0.5 Tesla MRI Machines ............................................................................................................ 544 Figure A137: Estimated REO consumption and forecasted REO demand for 0.5 Tesla MRI machines .............................544

0.7 Tesla MRI Machines ............................................................................................................ 544 Figure A138: Estimated REO consumption and forecasted REO demand for 0.7 Tesla MRI machines .............................544

SmCo Magnets: .......................................................................................................................... 545 SmCo Consumption and Demand .............................................................................................. 545 Figure A139: Estimated REO consumption and forecasted REO demand for samarium cobalt magnets ..........................545

Losses during Magnet Production: .............................................................................................. 546 Losses during NdFeB production ............................................................................................... 546 Figure A140: Estimated REO consumption and forecasted REO demand attributed to NdFeB losses during production ..546

Losses during SmCo production................................................................................................. 546 Figure A141: Estimated REO consumption and forecasted REO demand attributed to NdFeB losses during production ..546

506

A9: Phosphors

TABLE OF CONTENTS

Phosphors: 2008 – 2020.............................................................................................................. 549 Global REO Consumption and Demand for Phosphors ................................................................. 549 Figure A142: Estimated global consumption and forecasted global demand for REOs for phosphors from 2008 through 2020 ............................................................................................................................................................................549

Relative Consumption by REO for Phosphors .............................................................................. 549 Figure A143: Relative distribution of global consumption and forecasted global demand for REOs for phosphors from 2008 through 2020 ......................................................................................................................................................549

Global REO Consumption for Phosphors by End-Use.................................................................... 550 Figure A144: Relative distribution of global TREO consumption and demand for phosphors by end-use from 2008 through 2020 ............................................................................................................................................................................550

General Lighting: ........................................................................................................................ 551 Linear Fluorescent (LFL) Lamps .................................................................................................. 551 Figure A145: Estimated REO consumption and forecasted REO demand for LFL lamps ..................................................551

Compact Fluorescent (CFL) Lamps ............................................................................................. 551 Figure A146: Estimated REO consumption and forecasted REO demand for CFL lamps ..................................................551

White Light-Emitting Diode (LED) Lamps ................................................................................... 552 Figure A147: Estimated REO consumption and forecasted REO demand for white LED lamps ........................................552

White LED Headlamps............................................................................................................... 552 Figure A148: Estimated REO consumption and forecasted REO demand for white LED headlamps ................................552

Back-Lighting:............................................................................................................................. 553 LCD Televisions ......................................................................................................................... 553 Figure A149: Estimated REO consumption for LCD television back-lighting ....................................................................553

LCD Monitors ........................................................................................................................... 553 Figure A150: Estimated REO consumption for LCD monitor back-lighting ......................................................................553

LCD Portable PC Screens ........................................................................................................... 554 Figure A151: Estimated REO consumption for LCD portable PC screens .........................................................................554

547

LCD Handheld Display Screens .................................................................................................. 554 Figure A152: Estimated REO consumption for LCD handheld display screens .................................................................554

548

A10: Other End-Uses and Applications

TABLE OF CONTENTS

Other End-Uses and Applications: 2008 – 2020 ............................................................................ 557 Global REO Consumption and Demand for Other End-Uses and Applications ............................... 557 Figure A153: Estimated global consumption and forecasted global demand for REOs for other end-uses and applications from 2008 through 2020 ..............................................................................................................................................557

Relative Consumption by REO for Other End-Uses and Applications ............................................ 557 Figure A154: Relative distribution of estimated global consumption and forecasted global demand for REOs for other enduses and applications from 2008 through 2020.............................................................................................................557

Global REO Consumption for Other Applications by End-Use ....................................................... 558 Figure A155: Relative distribution of estimated global consumption and forecasted global demand for REOs for other applications by end-use from 2008 through 2020 .........................................................................................................558

Agriculture: ................................................................................................................................ 559 Fertilizers ................................................................................................................................. 559 Figure A156: Estimated REO consumption and forecasted REO demand for fertilizers ...................................................559

Animal Food Supplements ........................................................................................................ 559 Figure A157: Estimated REO consumption and forecasted REO demand for animal food supplements...........................559

Defense: .................................................................................................................................... 560 Defense Applications by REO .................................................................................................... 560 Figure A158: Estimated global REO consumption and forecasted REO demand for defense applications ........................560

Defense Applications by Region ................................................................................................ 560 Figure A159: Estimated global TREO consumption and forecasted TREO demand for defense applications by region .....560

Chemical: ................................................................................................................................... 561 Paint Driers .............................................................................................................................. 561 Figure A160: Estimated global REO consumption and forecasted REO demand for paint driers ......................................561

Adsorbents and Coagulants....................................................................................................... 561 Figure A161: Estimated global REO consumption and forecasted REO demand for adsorbents and coagulants ..............561

Optical Fiber and Laser Crystals: ................................................................................................. 562 555

Optical Fiber ............................................................................................................................. 562 Figure A162: Estimated global REO consumption and forecasted REO demand for optical fiber .....................................562

Laser Crystals ........................................................................................................................... 562 Figure A163: Estimated global REO consumption and forecasted REO demand for laser crystals....................................562

Medical: ..................................................................................................................................... 563 MRI Contrast Agent .................................................................................................................. 563 Figure A164: Estimated global REO consumption and forecasted REO demand for MRI contrast agent ..........................563

X-Ray Intensifying Screen Phosphors ......................................................................................... 563 Figure A165: Estimated global REO consumption and forecasted REO demand for x-ray intensifying screens .................563

Catalysts: ................................................................................................................................... 564 Neodymium Poly-butadiene Rubber (Nd-PBR) Catalysts ............................................................ 564 Figure A166: Estimated global REO consumption and forecasted REO demand for Nd-PBR catalysts..............................564

556