English
中文简体With the transition to #electrification, the amount and type of #raw #materials needed is also changing. So-called "rare earths" such as neodymium, praseodymium or dysprosium, which are used in permanent magnets for electric motors, are now coming into focus.
In a recent study, Christian Koehler, Maximilian Rathnow and Wenjun Qiu from Strategy Engineers investigated the raw materials that are needed for permanent magnet motors and what of them have the most impact on the overall price of the motor.
One of the biggest problems, especially for Europe, is that most of these materials are in short supply and have to be sourced from outside Europe
Demand for these materials will increase dramatically within this decade as electrification takes off – for example in 2030, demand for automotive magnets will be six times that of 2022. In 2030, the market value for magnet materials will reach almost 8 billion Euro at prices from early February 2022.
It has turned out that the effects of raw material price increases on motor prices are significant, especially for dysprosium, neodymium.
