Explain: Future of Rare Earth Metals

Due to growing environmental concerns and rising per capita spending, hybrid and electronic vehicles are becoming increasingly popular throughout industrialized nations. The use of rare earth metals in the manufacture of vehicles will continue to drive the demand for these materials.

Dysprosium and neodymium are two rare earth metals utilized in rare earth magnets. Both traditional and hybrid car batteries use these magnets extensively. These materials in electronics and wind turbines will continue to expand due to their outstanding performance and excellent magnetic strength. The sale of rare earth metals is expected to produce $15,473.0 million by 2030.

What Are the Applications of Rare Earth Metals?

Many industries use rare earth metals, including automotive, electronic, and renewable energy. Wind turbines in the renewable energy sector use rare-earth magnets. Dysprosium and neodymium, two rare earth metals, are used to make permanent magnets.

The wind turbine gears are divided using magnets, which minimizes weight and removes maintenance concerns. Lanthanum and cerium are the most favored rare earth metals for use in catalyst systems. The oil and gas industry primarily uses these metals in vehicle catalytic converters and liquid cracking catalysts.

Implementing strict laws meant to reduce emissions from machinery and vehicles across the globe is driving up demand for auto-catalysts and driving the sales of rare earth metals. Due to their great magnetic strength and efficiency, rare-earth magnets are also utilized in consumer goods like hard drives, cellphones, and other electronic components.

Types of Rare Earth Metals

• Cerium

Among the rare-earth elements, cerium is among the most prevalent. Monazite, allanite or orthrite, cerite, bastnasite, and samarskite are a few minerals. Cerium has been discovered in significant quantities in India, Brazil, and Southern California.

Cerium oxide is used in glass polishing compounds, self-cleaning ovens, and incandescent gas mantles. Cerium is also widely used in carbon arc lights for projector and studio lighting in the television and film industries.

• Neodymium

The chemical element neodymium has the atomic number 60 and the letter Nd assigned to it. Moreover, it is regarded as one of the rare-earth metals and is the fourth compound in the lanthanide series.

It is a silvery, hard, somewhat malleable metal that tarnishes easily when exposed to air and moisture. Additionally, the high strength of neodymium aids in the reduction of the size of the electric motors used in EVs. Neodymium is commonly used in an alloy with boron and iron to create mighty permanent magnets. 

• Lanthanum

Because it enhances the glass' optical qualities and alkali resistance, lanthanum oxide is utilized to create specialized optical glasses. Salts of lanthanum are employed as catalysts in the refinement of petroleum. It is used in various electronics, including energy-efficient lighting, TVs, and fluorescent tubes.

Additionally, it serves as a cleaning agent in various consumer goods and is utilized in manufacturing catalysts. Thus, as people's lifestyles worldwide improve, so does the need for metal. There are several further varieties of rare earth metals, including dysprosium, terbium, yttrium and scandium.