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market","the-importance-of-evs-to-the-rare-earths-market","article/the-importance-of-evs-to-the-rare-earths-market",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":643,"featured":50,"reporter":644,"_editable":648,"component":649,"seo_title":543,"categories":650,"visibility":659,"author_company":49,"data_vis_image":660,"featured_image":664,"seo_description":643,"author_full_name":49,"author_job_title":49,"formattedDate":667,"formattedArticleDate":668},"4a6a0934-f39c-44e0-9918-61bf551fb580","2025-02-26 00:00",[550],{"slug":551,"name":552},"data-visualisation","Data Visualisation",[554],{"slug":555,"name":556,"content":557},"didi-bostock","Didi Bostock",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Editor - Energy Transition & Economics",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":564,"content":565},"doc",[566,583,588,593,600,605,617,622,627,635],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570,573,581],{"text":571,"type":572},"The electric vehicle market is the fastest growing demand sector for rare earth permanent magnets (REPM), according to ","text",{"text":574,"type":572,"marks":575},"Benchmark’s Rare Earths Forecast",[576],{"type":577,"attrs":578},"link",{"href":579,"uuid":49,"anchor":49,"target":49,"linktype":580},"https://www.benchmarkminerals.com/rare-earths/data-reports/forecast","url",{"text":582,"type":572},".",{"type":567,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":572},"Demand for such magnets is set to grow at a compound average growth rate of 15% per year between 2024 and 2030, compared to a 9% CAGR for the overall REPM market.",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"“As the global push for decarbonization accelerates, the demand for magnetic rare earth oxides—critical for EV motors—continues to rise,” said Neha Mukherjee, a rare earths analyst at Benchmark. “With stricter emission policies and regulations shaping the market, the rare earth sector is entering a phase of heightened strategic importance, where supply chain security and policy interventions will play a crucial role in determining the market’s market balance and price environment.”",{"type":594,"attrs":595,"content":597},"heading",{"level":596,"textAlign":49},4,[598],{"text":599,"type":572},"What are the key markets for REPM?",{"type":567,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":572},"Rare earth permanent magnets have a multitude of uses. Electric vehicle motors, consumer electronics such as air conditioners, industrial motors, and wind energy are the primary markets for these magnets, with EVs accounting for the largest share.",{"type":606,"attrs":607},"blok",{"id":608,"body":609},"905e9464-9151-42f7-a047-4eca7f8a135c",[610],{"id":611,"_uid":612,"type":613,"_editable":614,"component":615,"fixed_height":616,"use_fixed_height":50,"fixed_height_mobile":616,"fixed_height_tablet":616},"21807234","i-4df8835a-704a-4912-ab73-67712b37d073","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-4df8835a-704a-4912-ab73-67712b37d073\", \"id\": \"\"}-->","ContentFlourish","",{"type":594,"attrs":618,"content":619},{"level":596,"textAlign":49},[620],{"text":621,"type":572},"Where do magnets fit into rare earth oxide demand?",{"type":567,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":572},"As with the magnets, the rare earth oxides from which they are made also have several applications. The REPM market is the largest demand sector for rare earths, though polishing powders and catalysts for petroleum refining are also large markets.",{"type":606,"attrs":628},{"id":629,"body":630},"967cc906-5bb7-482a-9a0c-5751f97d2688",[631],{"id":632,"_uid":633,"type":613,"_editable":634,"component":615,"fixed_height":616,"use_fixed_height":50,"fixed_height_mobile":616,"fixed_height_tablet":616},"21811363","i-8d609243-bcb2-46ba-8470-0d5a2873cbb3","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-8d609243-bcb2-46ba-8470-0d5a2873cbb3\", \"id\": \"\"}-->",{"type":567,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":572,"marks":640},"Watch Benchmark and Rho Motion analysts discuss the mine to grid supply chain for motors here.",[641],{"type":642},"italic","The electric vehicle market is the fastest growing demand sector for rare earth permanent magnets (REPM), according to Benchmark’s Rare Earths Forecast. Demand for such magnets is set to grow at a compound average growth rate of 15% per year between 2024 and 2030, compared to a 9% CAGR for the overall REPM market. “As […]",[645],{"slug":555,"name":556,"content":646},{"job_title":558,"image":647,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"4a6a0934-f39c-44e0-9918-61bf551fb580\", \"id\": \"\"}-->","article",[651,654,657],{"slug":652,"name":653},"critical-minerals","Critical Minerals",{"slug":655,"name":656},"ev","EV",{"slug":658,"name":414},"rare-earths","private",{"id":49,"alt":616,"name":616,"focus":616,"title":616,"source":616,"filename":661,"copyright":616,"fieldtype":662,"meta_data":663,"is_external_url":51},"https://res.cloudinary.com/benchmarkminerals/images/f_auto,q_auto/v1740584320/www-production/REPM-demand@2x-1/REPM-demand@2x-1.png?_i=AA","asset",{"alt":616,"title":616,"source":616,"copyright":616},{"id":49,"alt":616,"name":616,"focus":616,"title":616,"source":616,"filename":665,"copyright":616,"fieldtype":662,"meta_data":666,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/54c4c1b6e6/bm-electric-motor-rotor-with-permanent-magnet.jpg",{"alt":616,"title":616,"source":616,"copyright":616},"Feb 26, 2025","26th February 2025",[],[],1781280255475]