Rare Earth Elements Market 2015 - 2023 | страница 2

REPORT DESCRIPTION

Rare earth elements are a group of seventeen chemical elements that occur together in the periodic table. The group consists of yttrium,
scandium, and fifteen lanthanide elements (lanthanum, cerium, thulium, ytterbium, praseodymium, gadolinium, terbium, dysprosium,
neodymium, promethium, samarium, europium, holmium, erbium, and lutetium). The seventeen rare earth elements are found in all rare
earth elements deposits; however, their distribution and concentration varies. These elements are referred as ‘rare,’ as it is not common to
find them in commercially feasible concentrations. Rare earth elements are broadly classified into two categories: light rare earth elements
and heavy rare earth elements.
These have varying levels of uses and demand. Mineral deposits of rare earth elements are usually rich in either light rare earth elements
or heavy rare earth elements; they rarely contain both in significant quantities. Among rare earth elements, demand for lanthanum and
cerium is the largest in the world. Rare earth elements are classified based on various properties such as catalytic, magnetic, electrical,
chemical, and optical. Thus, rare earth elements,often referred as ‘seeds of technology’ by the Japanese, exhibit multiple properties. This
makes make them suitable for usage in a wide range of end-user industries.

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The permanent magnet industryisthe largest end-user industryfor rare earth elements. Lanthanum and cerium are used in the manufacture
of catalytic converters. Thesehelp convert the pollutants in engine exhaust systeminto non-toxic compounds. Rechargeable batteries made
from neodymium, lanthanum, cerium, and praseodymium (combined with manganese, nickel, cobalt and/or aluminum) are used in car
batteries in hybrid electric vehicles, electronic devices, and power tools.Lanthanum and cerium are used in the manufacture of catalytic
converters, which convert pollutants in engine exhaust systeminto non-toxic compounds.
Electric and hybrid cars can contain rare earths compounds which areworth many dollars, which is double that found in a standard gasoline
vehicle.The manufacturing of battery involves use of rare earth compounds. Rare earth elements are also used in regenerative braking
systems and electric traction motors.