Rare Earth Minerals in The Wind Power Technology Could Fail

By: Stanford Magnets  04/08/2014
Keywords: Neodymium Magnets, Rare Earth Magnets

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 chain.

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 additional problems.

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.

About Stanford Magnets.

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.

Keywords: Neodymium Magnets, Rare Earth Magnets

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