Many countries in every corner of the world
are looking to seek the assistance of wind power to cater their needs and
requirements. In order to do that, they need to have large scale wind farms and
huge amounts of powerful motors. These motors are made out of neodymium, which
is a well-known rare earth magnet for its effectiveness, durability and
affordability. The demand for neodymium has increased dramatically within the
past few years and this has created several issues in the supply and demand
A large percentage of the world’s rare
earth reserves are located within China and Inner Mongolia. The production
industry is entirely dominated by China and they have catered over 85% of the
world’s demand during 2012. Japan holds the second place by catering 10% of the
world’s rare earth requirements. The market imbalance has become a major issue
for Japan because of the problems in steady supply and pricing stability.
Unfortunately, there is no supply in rare
earth magnets to cater the needs of modern world manufacturers. Wind farms,
which entirely depend on neodymium have greatly been affected by this. As a
result, many countries that are planning to implement wind farms are looking
for alternative options. Since there is no other alternative available for
neodymium, they have taken to extract their own rare earth magnet requirements.
However, the imbalances that exist in between rare earth materials have created
Before China came into play, Western Europe
has been dominating the rare earth magnet exports. All these industries were
eliminated along with time and you will not be able to see any rare earth
magnets coming from this area at the moment. The major issues in supply and
demand have forced them to think of starting these industries again. They are
not planning to start them in large scale, as they were few decades back. They
are just trying to cater the shortage that comes from the world market of rare
earth magnet exports.
However, United States has not been able to
try an alternative option like this because most of their rare earth materials
are in the form of catalysts. Therefore, they have forced countries like China
to pause their restrictions on rare earth magnet exports and provide a stable
amount to the world market on a regular basis.
Based in California, Stanford Magnets has
been involved in the R&D and sales of licensed , 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.