China has been playing a major role in the
supply of rare earth magnets to the world industry. However, their recent cut
downs in the exports have made several doubts in the people’s minds whether
they still hold the number one place for rare earth magnet exports. According
to the researches, China’s share of world rare earth material output has been
shrinking over the past few years because the miners were worried about the
governments control in global supply. These miners have also mentioned that
China is following a polluting process after cutting down exports by converting
the useful ingredients.
Even though with these restrictions, no
other country in the world has been able to surpass China with the rare earth
magnet exports. The statistical records show that China still holds about 80%
of the market of specialized magnets like neodymium. These rare ingredients are
used in the manufacturing process of elevators to motors to cruise missiles. However,
this is a significant drop in the exports, when compared to the 93% market that
they had three years ago.
United States is the largest consumer of
these rare earth magnets and they are strongly affected by the cut down of
supply from Chinese government. At the moment, the US government is working in
order to handle the difficult middle stage process that can motivate China to
enhance their exports along with profits. However, it has been reported that US
government has to spend a lot of money on this process and they are planning to
go for an alternative option as a result of that.
In the year 2010, China shocked most of the
high technological industries by reducing the export of 17 rare earth elements.
This also created a new path for the illegal exports and at the moment a large percentage
of those materials are exported to large scale contributors illegally. However,
China is still holding their dominance in the industry and experts predict that
they will continue holding it for the next few years as well, even with these
About Stanford Magnets.
Based in California, Stanford Magnets has been involved in the R&D and sales of licensed Rare-earth magnets, Neodymium magnets and SmCo magnets, ceramic magnets, flexible magnets and magnetic assemblies since the mid of 1980s. We supply all these types of magnets in a wide range of shapes, sizes and grades.