Rare Earth Consumption and Supply

Details: Category: Rare Earth News; Published on Thursday, 04 September 2014 15:57

Many manufacturing companies, concerned about the high prices of rare earth metals and oxides, began looking for ways to reduce their consumption of these materials. Although substitutes are available for many rare earth materials, they generally do not perform as well.

The greatest success has been in using smaller amounts of rare earth materials in the devices that require them or moving to technologies that do not require the use of rare earth materials. This effort has resulted in a decline in the amounts of rare earth materials used in some types of magnets and a shift from rare earth lighting products to light-emitting diode technology.

In addition to being the world's largest producer of rare earth materials, China is also the dominant consumer. They use rare earths mainly in manufacturing electronics products for domestic and export markets. Japan and the United States are the second and third largest consumers of rare earth materials.

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