The rare earth element magnets are also used in military fighter jets and missile guidance systUSA rare earth news:
The rare earth element magnets are also used in military fighter jets and missile guidance systems in addition to other commercial applications like computer hard drives, smartphones and MRI machines.
U.S. automobile and wind tower manufacturers already rely heavily on the magnets, which GM helped develop in the early 1980s. However, demand for the magnets is expected to spike in the coming years, leading to a potential global shortage. That’s because electric vehicles use about 10 times as much of the magnets as conventional gasoline-powered cars.
A report last year from the Chicago-based Paulson Institute estimated that electric vehicles and wind turbines alone will require at least 50 percent of the high-performance neodymium magnet supply in 2025 and nearly 100 percent in 2030.ems in addition to other commercial applications like computer hard drives, smartphones and MRI machines.
U.S. automobile and wind tower manufacturers already rely heavily on the magnets, which GM helped develop in the early 1980s. However, demand for the magnets is expected to spike in the coming years, leading to a potential global shortage. That’s because electric vehicles use about 10 times as much of the magnets as conventional gasoline-powered cars.
A report last year from the Chicago-based Paulson Institute estimated that electric vehicles and wind turbines alone will require at least 50 percent of the high-performance neodymium magnet supply in 2025 and nearly 100 percent in 2030. nbypcgc.com