“the global rare earth elements market 2011-2015

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Recent findings suggesting a global supply shortage of rare earth elements has created a panicamong end users and a gold rush among miners. IMARC Group, one of the world‘s leadingresearch and advisory firms, finds that with a number of new mines starting production in thenext five years, the total supply of rare earth elements will be significantly more than thetotal demand. Although, a number of rare earth elements would be oversupplied, we mayface a shortage of some elements that are critical for the long term growth of the cleantechnology industry.

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Page 1: “The Global Rare Earth Elements Market 2011-2015
Page 2: “The Global Rare Earth Elements Market 2011-2015

Report Description & Highlights

Recent findings suggesting a global supply shortage of rare earth elements has created a panic

among end users and a gold rush among miners. IMARC Group, one of the world‘s leading

research and advisory firms, finds that with a number of new mines starting production in the

next five years, the total supply of rare earth elements will be significantly more than the

total demand. Although, a number of rare earth elements would be oversupplied, we may

face a shortage of some elements that are critical for the long term growth of the clean

technology industry.

IMARC‘s new report entitled “The Global Rare Earth Elements Market 2011-2015: Is the

Hype Justified?” provides an analytical and statistical insight into the global rare earth

elements market. The study that has been undertaken using both desk-based as well as

qualitative primary research has analyzed five aspects of the rare earth elements market.

Key Aspects Analyzed:

Understanding the Mining Economics of Rare Earth Elements:

Focus of the Analysis:

Rare earth mine valuation

Stages and time taken to develop and start production at a rare earth mine

The total costs involved in rare earth mining

Mining and downstream processing of rare earth elements

Rare earth element pricing

Understanding China’s Role in the Global Rare Earth Elements Market:

Focus of the Analysis:

China’s role in the global supply and demand of rare earth elements

Reasons for China’s dominance

China’s current and future supply strategies

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Comprehensive Situation Analysis of the Global Rare Earth Elements Market:

Focus of the analysis:

Quantifying the historical sales and production of rare earth elements

Identification and evaluation of current global rare earth mines

Identification and evaluation of mines expected to begin production in the next five years

Current and future consumption of rare earth elements

Evaluating the Supply and Demand of Various Rare Earth Elements:

Focus of the analysis:

Quantifying the production of each element from current and future mines

Quantifying the current and future demand of each element

Historical, current and future prices of each element

Evaluating the supply risks of each element and its importance for clean technology

Identification of critically undersupplied and oversupplied rare earth elements

Evaluating the Demand of Rare Earth Elements in Various Industries

Focus of the analysis:

Quantifying the current and future size of each Industry

Quantifying the current and future demands of rare earth elements in each industry

Identification of industries having the highest demand of rare earth elements.

Information Sources:

Information has been sourced from both primary and secondary sources:

Primary sources include industry surveys and face to face/telephone interviews with

industry experts.

Secondary sources include proprietary databases and search engines. These sources

include company websites and reports, books, trade journals, magazines, white

papers, industry portals, government sources and access to more than 4000 paid

databases.

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Table of Contents

1. Research Methodology & Market Definitions ................................................................................................ 4

2. Executive Summary ....................................................................................................................................... 14

3. What are Rare Earth Elements? .................................................................................................................... 19

4. Rare Earth Elements: Are They Really Rare? .............................................................................................. 21

4.1 Reserve & Reserve Base Estimates .......................................................................................................... 21 4.2 How Long will they Last? ............................................................................................................................ 25

5. Rare Earth Elements: Mining Economics .................................................................................................... 27

5.1 Mine Valuation: Grades & Composition are Key ........................................................................................ 27 5.2 Development of a New Project: Can Take Several Years .......................................................................... 28 5.3 Rare Earth Mining Costs: Largely Location and Grade Dependent ............................................................ 31

5.3.1 Infrastructure & Capital Costs ............................................................................................................ 31 5.3.2 Operating Costs ................................................................................................................................. 32

5.4 Mining & Processing ................................................................................................................................... 35 5.4.1 Mining ................................................................................................................................................ 35 5.4.2 Downstream Processing .................................................................................................................... 37

5.5 Prices: Have Risen Several Fold in Recent Years ..................................................................................... 39 5.5.1 Factors Affecting Rare Earth Element Prices ..................................................................................... 39 5.5.2 Historical Prices ................................................................................................................................. 40 5.5.3 Pricing Forecast ................................................................................................................................. 41

6. China’s Role in the Global Rare Earth Elements Market ............................................................................ 43

6.1 China Has a Monopoly Over Rare Earth Elements .................................................................................... 43 6.2 Mining Costs in China Are Significantly Lower Than Other Rare Earth Producers .................................... 44 6.3 Miners Have Benefitted from the Lack of Proper Working Standards and Environmental Regulations ...... 45 6.4 China Has a Significantly Higher In-house Expertise Compared to Other Rare Earth Producers .............. 46 6.5 China is Decreasing Export Quotas as its Own Domestic Demand is Expected to Outstrip Supply .......... 46 6.6 China Aims to Become an Exporter of Higher Value Goods ...................................................................... 48

7. The Global Rare Earth Elements Market ...................................................................................................... 50

7.1 Total Sales & Production of Rare Earth Elements ...................................................................................... 50 7.2 Production of Rare Earth Elements by Region ........................................................................................... 52

7.2.1 Current Operational Mines ................................................................................................................. 56 7.2.1.1 Bayan Obo, China ..................................................................................................................... 56 7.2.1.2 Longnan, China ......................................................................................................................... 57 7.2.1.3 Xunwu, China ............................................................................................................................ 58 7.2.1.4 India .......................................................................................................................................... 59 7.2.1.5 Eastern Coast, Brazil ................................................................................................................ 60 7.2.1.6 Lahat, Malaysia ......................................................................................................................... 61

7.2.2 Potential New Projects ....................................................................................................................... 62 7.2.2.1 Mt. Weld, Australia .................................................................................................................... 62 7.2.2.2 Mountain Pass, United States ................................................................................................... 63 7.2.2.3 Nolans, Australia ....................................................................................................................... 64 7.2.2.4 Steenkampskraal, South Africa ................................................................................................. 65 7.2.2.5 Nechalacho, Canada ................................................................................................................. 66 7.2.2.6 Kvanefjeld, Greenland ............................................................................................................... 66 7.2.2.7 Dong Pao, Vietnam ................................................................................................................... 67 7.2.2.8 Dubbo Zirconia, Australia .......................................................................................................... 68

7.3 Consumption of Rare Earth Elements by Region ....................................................................................... 70 7.3.1 China ................................................................................................................................................. 71 7.3.2 Japan & Northeast Asia ..................................................................................................................... 72 7.3.3 US ...................................................................................................................................................... 73

8. Supply & Demand of Individual Rare Earth Elements ................................................................................ 74

8.1 Elements that will Face Supply Shortages in the Near Future ................................................................... 76 8.1.1 Terbium .............................................................................................................................................. 76

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8.1.1.1 Element Overview & Supply Risks ............................................................................................ 76 8.1.1.2 Supply & Demand ..................................................................................................................... 77

8.1.2 Dysprosium ........................................................................................................................................ 79 8.1.2.1 Element Overview & Supply Risks ............................................................................................ 79 8.1.2.2 Supply & Demand ..................................................................................................................... 80

8.1.3 Neodymium ........................................................................................................................................ 82 8.1.3.1 Element Overview & Supply Risks ............................................................................................ 82 8.1.3.2 Supply & Demand ..................................................................................................................... 83

8.1.4 Europium ........................................................................................................................................... 85 8.1.4.1 Element Overview & Supply Risks ............................................................................................ 85 8.1.4.2 Supply & Demand ..................................................................................................................... 86

8.2 Elements That Will Be Oversupplied in the Near Future ............................................................................ 89 8.2.1 Yttrium ............................................................................................................................................... 89

8.2.1.1 Element Overview & Supply Risks ............................................................................................ 89 8.2.1.2 Supply & Demand ..................................................................................................................... 90

8.2.2 Lanthanum ......................................................................................................................................... 92 8.2.2.1 Element Overview & Supply Risks ............................................................................................ 92 8.2.2.2 Supply & Demand ..................................................................................................................... 93

8.2.3 Cerium ............................................................................................................................................... 95 8.2.3.1 Element Overview & Supply Risks ............................................................................................ 95 8.2.3.2 Supply & Demand ..................................................................................................................... 97

8.2.4 Praseodymium ................................................................................................................................... 99 8.2.4.1 Element Overview & Supply Risks ............................................................................................ 99 8.2.4.2 Supply & Demand ................................................................................................................... 100

8.2.5 Samarium ........................................................................................................................................ 102 8.2.5.1 Element Overview & Supply Risks .......................................................................................... 102 8.2.5.2 Supply & Demand ................................................................................................................... 103

9. Market by Application (2010-2015) ............................................................................................................. 106

9.1 Magnets ................................................................................................................................................... 107 9.2 NiMH Batteries ......................................................................................................................................... 109 9.3 Auto Catalysts .......................................................................................................................................... 110 9.4 Diesel Engines ......................................................................................................................................... 112 9.5 Fluid Cracking Catalysts ........................................................................................................................... 113 9.6 Phosphers ................................................................................................................................................ 114 9.7 Glass ........................................................................................................................................................ 115 9.8 Polishing Powders .................................................................................................................................... 116 9.9 Other Applications .................................................................................................................................... 117

11. Overcoming the Potential shortfalls in Supply .......................................................................................... 119

11.1 Stockpiling ............................................................................................................................................ 119 11.2 Recycling .............................................................................................................................................. 119 11.3 Substitution .......................................................................................................................................... 120 11.4 Material Shortfall Strategies by Various Rare Earth Consumers .......................................................... 121

12. Key Player Profiles ..................................................................................................................................... 124

12.1 Lynas Corporation ................................................................................................................................ 124 12.2 Molycorp Minerals ................................................................................................................................ 124 12.3 Arafura Resources Ltd ......................................................................................................................... 125 12.4 Great Western Minerals Group Ltd....................................................................................................... 126 12.5 Avalon Rare Metals Inc ........................................................................................................................ 127 12.6 Greenland Minerals & Energy Ltd ........................................................................................................ 128 12.7 Alkane Resources Ltd .......................................................................................................................... 129

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List of Figures

Figure 2-1: Timeline for Important Events in the Rare Earth Elements Market ............................................................ 18 Figure 3-1: Periodic Table Showing Rare Earth Elements ........................................................................................... 19 Figure 4-1: Topology of Rare Earth Elements .............................................................................................................. 22 Figure 4-2: Global: Rare Earth Metal Reserves by Country (in Million Metric Tons), 2010 .......................................... 22 Figure 4-3: Global: Rare Earth Metal Reserves by Country (in %), 2010 ..................................................................... 23 Figure 4-4: Global: Rare Earth Metals Reserve Base by Country (in Million Metric Tons), 2009 ................................. 24 Figure 4-5: Global: Rare Earth Metals Reserve Base by Country (in %), in 2009 ........................................................ 24 Figure 4-6: Global: Breakup of Light & Heavy Rare Earth Metal Reserves (in %), 2010 .............................................. 26 Figure 5-1: Comparative Total Rare Earth Oxide Values of Various Rare Earth Mines, 2010 ..................................... 28 Figure 5-2: Thor Lake Rare Earth Mine: Breakup of Total Operational Costs Involved in Mining & Processing, (in %) ..................................................................................................................................................................................... 34 Figure 5-3: Global: Sources of Rare Earth Metals ........................................................................................................ 35 Figure 5-4: Flow Chart: Concentration of Rare Earth Ores ......................................................................................... 37 Figure 5-5: Flow Chart: Extraction of Rare Earths from their Concentrated Ores ....................................................... 38 Figure 6-1: China’s Rare Earth Monopoly .................................................................................................................... 44 Figure 6-2: China & US: Average Labor Costs Per Hour (in US$), 2006 ..................................................................... 45 Figure 6-3: China: Domestic Demand and Supply of Rare Earth Elements, (in Metric Tons), 2010-2015 .................. 47 Figure 6-4: China: High Technology Exports (% of Manufactured Exports) 2000 & 2009 ............................................ 48 Figure 6-5: China: Rare Earth Elements Market Evolution, 1970 – 2010 ..................................................................... 49 Figure 7-1: Global: Rare Earth Metals Production (in 000’ Metric Tons) 1995-2010 .................................................... 50 Figure 7-2: Global: Rare Earth Metals Market (in Billion US$) 2008-2010 ................................................................... 50 Figure 7-3: Global: Rare Earth Metals Production Forecast (in 000’ Metric Tons), 2011-2015 .................................... 51 Figure 7-4: Global: Rare Earth Metals Market Forecast (in Billion US$), 2011-2015 ................................................... 51 Figure 7-5: Global: Rare Earth Elements Production by Country (in %), 2010 ............................................................. 52 Figure 7-6: Global: Rare Earth Elements Production by Country Forecast (in %), 2015 .............................................. 54 Figure 7-7: Bayan Obo Rare Earth Mine: Composition of Various Elements, (in %) .................................................... 56 Figure 7-8: Longnan Rare Earth Mine: Composition of Various Elements, (in %) ....................................................... 57 Figure 7-9: Xunwu Rare Earth Mine: Composition of Various Elements, (in %) .......................................................... 58 Figure 7-10: India Rare Earth Mine: Composition of Various Elements, (in %) ........................................................... 59 Figure 7-11: Eastern Coast Rare Earth Mine: Composition of Various Elements, (in %) ............................................ 60 Figure 7-12: Lahat Rare Earth Mine: Composition of Various Elements, (in %) .......................................................... 61 Figure 7-13: Mt Weld Rare Earth Mine: Composition of Various Elements, (in %)...................................................... 62 Figure 7-14: Mountain Pass Rare Earth Mine: Composition of Various Elements, (in %) ........................................... 63 Figure 7-15: Nolans Rare Earth Mine: Composition of Various Elements, (in %)........................................................ 64 Figure 7-16: Steenkampskraal Rare Earth Mine: Composition of Various Elements, (in %) ....................................... 65 Figure 7-17: Nechalacho Rare Earth Mine: Composition of Various Elements, (in %) ................................................ 66 Figure 7-18: Kvanefjeld Rare Earth Mine: Composition of Various Elements, (in %) .................................................. 67 Figure 7-19: Dong Pao Rare Earth Mine: Composition of Various Elements, (in %) ................................................... 68 Figure 7-20: Dubbo Zirconia Rare Earth Mine: Composition of Various Elements, (in %) .......................................... 69 Figure 7-21: Global: Rare Earth Elements Consumption by Region, (in %), 2010 ....................................................... 70 Figure 7-22: Global: Rare Earth Elements Consumption by Region Forecast, (in %), 2015 ........................................ 71 Figure 8-1: Terbium: Supply & Demand Balance, (in Metric Tons), 2015 .................................................................... 78 Figure 8-2: Terbium: Historical prices (in US$/kg), 2007-2010 .................................................................................... 78 Figure 8-3: Terbium: Price Forecasts (in US$/kg), 2011-2015 ..................................................................................... 78 Figure 8-4: Dysprosium: Supply & Demand Balance, (in Metric Tons), 2015 .............................................................. 80 Figure 8-5: Dysprosium: Price Forecasts (in US$/kg), 2011-2015 ............................................................................... 81 Figure 8-6: Neodymium: Supply & Demand Balance, (in Metric Tons), 2015 .............................................................. 84 Figure 8-7: Neodymium: Historical prices (in US$/kg), 2007-2010 .............................................................................. 84 Figure 8-8: Neodymium: Price Forecasts (in US$/kg), 2011-2015 ............................................................................... 85 Figure 8-9: Europium: Supply & Demand Balance, (in Metric Tons), 2015 .................................................................. 87 Figure 8-10: Europium: Historical prices (in US$/kg), 2007-2010 ................................................................................ 87 Figure 8-11: Europium: Price Forecasts (in US$/kg), 2011-2015 ................................................................................. 87 Figure 8-12: Yttrium: Supply & Demand Balance, 2015 (in Metric Tons) ..................................................................... 91 Figure 8-13: Yttrium: Historical prices (in US$/kg), 2007-2010 .................................................................................... 91 Figure 8-14: Yttrium: Price Forecasts (in US$/kg), 2011-2015 ..................................................................................... 92 Figure 8-15: Lanthanum: Supply & Demand Balance, (in Metric Tons), 2015 ............................................................. 94 Figure 8-16: Lanthanum: Historical prices (in US$/kg), 2007-2010 .............................................................................. 95 Figure 8-17: Lanthanum: Price Forecasts (in US$/kg), 2011-2015 .............................................................................. 95 Figure 8-18: Cerium: Supply & Demand Balance, (in Metric Tons), 2015 .................................................................... 98 Figure 8-19: Cerium: Historical prices (in US$/kg), 2007-2010 .................................................................................... 98 Figure 8-20: Cerium: Price Forecasts (in US$/kg), 2011-2015 .................................................................................... 98 Figure 8-21: Praseodymium: Supply & Demand Balance, (in Metric Tons), 2015 ..................................................... 100

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Figure 8-22: Praseodymium: Historical prices (in US$/kg), 2007-2010 ...................................................................... 101 Figure 8-23: Praseodymium: Price Forecasts (in US$/kg), 2011-2015 ...................................................................... 102 Figure 8-24: Samarium: Supply & Demand Balance, (in Metric Tons), 2015 ............................................................. 104 Figure 8-25: Samarium: Historical Prices (in US$/kg), 2007-2010 ............................................................................. 104 Figure 8-26: Samarium: Price Forecasts (in US$/kg), 2011-2015 .............................................................................. 105 Figure 9-1: Diesel Particulate Filter ............................................................................................................................ 112 

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List of Tables Table 1-1: Rare Earth Elements: Light & Heavy Definitions ......................................................................................... 12 Table 3-1: Rare Earth Elements: Characteristics & Applications.................................................................................. 20 Table 4-1: Global: Rare Earth Metals: Reserve & Reserve Base Estimates by Country (in Million Metric Tons) ......... 25 Table 5-1: Light & Heavy Rare Earth Elements: Key Barriers to Entry ......................................................................... 28 Table 5-2: Total Time & Stages Required in Constructing & Bringing a Rare Earth Mine to Production ...................... 29 Table 5-3: Rare Earth Elements: Mining & Processing Costs ...................................................................................... 31 Table 5-4: Thor Lake Rare Earth Mine: Total Infrastructure & Capital Costs, (in Million US$) ..................................... 32 Table 5-5: Thor Lake Rare Earth Mine: Breakup of Capital Costs, (in Million US$) ..................................................... 32 Table 5-6: Thor Lake Rare Earth Mine: Operational Costs Involved in Underground Mining and Preparation of a Bulk Concentrate, (Cost US$ Per Metric Ton of Ore Mined) ................................................................................................ 33 Table 5-7: Thor Lake Rare Earth Mine: Operational Costs Involved in Hydrometallurgical Processing, (Cost US$ Per Metric Ton of Ore Mined) ............................................................................................................................................. 33 Table 5-8: Thor Lake Rare Earth Mine: Total Operational Costs Involved in Mining & Processing, (Cost US$ Per Metric Ton of Ore Mined) ............................................................................................................................................. 34 Table 5-9: Sources of Rare Earth Elements & Their Composition ............................................................................... 36 Table 5-10: Average Annual Prices of Individual Rare Earth Elements, (in US$/Kg), 2007-2011 ................................ 41 Table 5-11: Average Annual Price Forecast of Individual Rare Earth Elements, (in US$/Kg), 2011-2015 ................... 42 Table 6-1: China: Rare Earth Elements Export Quota (in Metric Tons), 2005 – 2011 .................................................. 47 Table 7-1: Global: Rare Earth Elements Production by Country (in Metric Tons), 1995-2002 ..................................... 53 Table 7-2: Global: Rare Earth Elements Production by Country (in Metric Tons), 2003-2010 ..................................... 53 Table 7-3: Global: Rare Earth Elements Production by Country & Mine Forecast (in Metric Tons), 2011-2015 .......... 54 Table 7-4: Global: Distribution of Elements in Various Rare Earth Mines, (in %) ......................................................... 55 Table 7-5: Bayan Obo Rare Earth Mine: Composition of Various Elements, (in %) ..................................................... 56 Table 7-6: Longnan Rare Earth Mine: Composition of Various Elements, (in %) ........................................................ 57 Table 7-7: Xunwu Rare Earth Mine: Composition of Various Elements, (in %) ........................................................... 58 Table 7-8: India Rare Earth Mine: Composition of Various Elements, (in %) ............................................................... 59 Table 7-9: Eastern Coast Rare Earth Mine: Composition of Various Elements, (in %) ............................................... 60 Table 7-10: Lahat Rare Earth Mine: Composition of Various Elements, (in %) ........................................................... 61 Table 7-11: Mt Weld Rare Earth Mine: Composition of Various Elements, (in %) ....................................................... 62 Table 7-12: Mountain Pass Rare Earth Mine: Composition of Various Elements, (in %) ............................................ 63 Table 7-13: Nolans Rare Earth Mine: Composition of Various Elements, (in %) ......................................................... 64 Table 7-14: Steenkampskraal Rare Earth Mine: Composition of Various Elements, (in %) ........................................ 65 Table 7-15: Nechalacho Rare Earth Mine: Composition of Various Elements, (in %) ................................................. 66 Table 7-16: Kvanefjeld Rare Earth Mine: Composition of Various Elements, (in %) ................................................... 67 Table 7-17: Dong Pao Rare Earth Mine: Composition of Various Elements, (in %) .................................................... 68 Table 7-18: Dubbo Zirconia Rare Earth Mine: Composition of Various Elements, (in %) ............................................ 69 Table 7-19: Global: Rare Earth Elements Consumption by Region & Application, (in Metric Tons), 2010 ................... 70 Table 7-20: Global: Rare Earth Elements Consumption by Region & Application Forecast, (in Metric Tons), 2015 .... 71 Table 7-21: China: Rare Earth Elements Consumption by Application, (in Metric Tons), 2010 & 2015 ....................... 72 Table 7-22: Japan & Northeast Asia: Rare Earth Elements Consumption by Application, (in Metric Tons), 2010 & 2015 ............................................................................................................................................................................. 73 Table 7-23: US: Rare Earth Elements Consumption by Application, (in Metric Tons), 2010 & 2015............................ 73 Table 8-1: Global: Supply of Various Rare Earth Elements (in Metric Tons), 2010-2015 ............................................. 74 Table 8-2: Global: Composition of Various Rare Earth Elements, (in %) 2010-2015 ................................................... 75 Table 8-3: Global: Supply & Demand of Various Rare Earth Elements, (in Metric Tons), 2015 ................................... 75 Table 8-4: Terbium: Overview, Importance to Clean Energy & Supply Risk ................................................................ 76 Table 8-5: Global: Terbium Production: Break-up by Mine (in Metric Tons), 2010 - 2015 ............................................ 77 Table 8-6: Dysprosium: Overview, Importance to Clean Energy & Supply Risk........................................................... 79 Table 8-7: Global: Dysprosium Production: Break-up by Mine (in Metric Tons), 2010 - 2015 ...................................... 80 Table 8-8: Neodymium: Overview, Importance to Clean Energy & Supply Risk .......................................................... 82 Table 8-9: Global: Neodymium Production: Break-up by Mine (in Metric Tons), 2010 - 2015 ...................................... 83 Table 8-10: Europium: Overview, Importance to Clean Energy & Supply Risk ............................................................ 85 Table 8-11: Global: Europium Production: Break-up by Mine (in Metric Tons), 2010 - 2015 ...................................... 86 Table 8-12: Yttrium: Overview, Importance to Clean Energy & Supply Risk ................................................................ 89 Table 8-13: Global: Yttrium Production: Break-up by Mine (in Metric Tons), 2010 - 2015 .......................................... 90 Table 8-14: Lanthanum: Overview, Importance to Clean Energy & Supply Risk ......................................................... 92 Table 8-15: Global: Lanthanum: Production Break-up by Mine (in Metric Tons), 2010 - 2015 ..................................... 94 Table 8-16: Cerium: Overview, Importance to Clean Energy & Supply Risk ................................................................ 95 Table 8-17: Global: Cerium: Production Break-up by Mine (in Metric Tons), 2010 - 2015 ........................................... 97 Table 8-18: Praseodymium: Overview, Importance to Clean Energy & Supply Risk .................................................... 99 Table 8-19: Global: Praseodymium: Production Break-up by Mine (in Metric Tons), 2010 - 2015 ............................. 100 Table 8-20: Samarium: Overview, Importance to Clean Energy & Supply Risk ......................................................... 102 Table 8-21: Global: Samarium: Production Break-up by Mine (in Metric Tons), 2010 - 2015 .................................... 103 

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Table 9-1: Global: Demand of Rare Earth Elements by Application, (in Metric Tons), 2010-2015 ............................. 106 Table 9-2: Global: Share of Rare Earth Elements by Application, (in %), 2010-2015 ................................................ 106 Table 9-3: Global: Production of NdFeB Magnets & Rare Earth Element Consumption, (in Metric Tons), 2010-2015 ................................................................................................................................................................................... 109 Table 9-4: Global: Production of NiMH Battery Alloys & Rare Earth Element Consumption, (in Metric Tons), 2010-2015 ........................................................................................................................................................................... 110 Table 9-5: Global: Demand for Auto Catalysts & Rare Earth Elements Consumption, (in Metric Tons), 2010-2015 . 111 Table 9-6: Global: Demand of Cerium Oxide for Diesel Fuel Borne Catalysts, (in Metric Tons), 2010-2015 ............. 113 Table 9-7: Global Demand of FCC Catalysts & Rare Earth Element Consumption, (in Metric Tons), 2010-2015 ..... 113 Table 9-8: Global: Demand of Rare Earth Elements in Phosphors, (in Metric Tons), 2010-2015 .............................. 115 Table 9-9: Global: Demand of Rare Earth Elements in Major Glass Applications (in Metric Tons), 2010-2015 ......... 116 Table 9-10: Global: Demand of Rare Earth Elements in Polishing Powders (in Metric Tons), 2010-2015 ................. 117 Table 9-11: Global: Demand of Rare Earth Elements in Other Applications (in Metric Tons), ................................... 118 Table 11-1: Substitution Possibilities in Rare Earth Elements .................................................................................... 121 Table 11-2: Material Strategies by Rare Earth Reserve Rich Countries .................................................................... 123 Table 11-3: Material Strategies by Countries Not Having Rich Rare Earth Reserves ................................................ 123 

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About IMARC

For more than 5 years, the International Market Analysis Research and Consulting Group has

been a leading advisor on management strategy and market research worldwide. We partner

with clients in all sectors and regions to identify their highest-value opportunities, address their

most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological

developments for business leaders in pharmaceutical, industrial, and high technology

organizations. Market forecasts and industry analysis for biotechnology, advanced materials,

pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing

methods are at the top of the company's expertise.

IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and

markets with close cooperation at all levels of the client organization. This ensures that our

clients achieve unmatchable competitive advantage, build more proficient organizations, and

secure lasting results.