Rare earth metals occupy a special position among raw materials.
They are an indispensable part of industrial production.
Since they are not reproducible, their value will continue to increase as resources become scarcer.
Many innovative technological developments such as LCD and plasma screens, smartphones, soot particle filters, wind turbines and batteries for electric cars were only made possible by the use of these raw materials. Rare earths are indispensable for the development of such key technologies.
Projections by the Industrial Minerals Company of Australia (IMCOA) show that global consumption of rare earths could increase to between 200,000 and 240,000 tonnes per year by 2020.
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Reading aid: These statistics show the worldwide development of demand for rare earths by selected application areas in the period from 2010 to 2015. For this period, a growth in demand of at least 6 percent was forecast for the ceramics sector.