The Position of China in Neodymium Utilization: Trend and Challenges

Abstract

The rare-earth industry plays a promising role in the promotion of low-carbon technologies, which are anticipated as foremost nominees for the development of a green civilization. Among valuable rare-earth elements, neodymium (Nd) is one of the extensively diffused metals in production of high-tech and clean-energy equipment due to its strong and light magnetic properties. China has already acquired a principal place in Nd supply to the global market, becoming a successful competitor with a higher level of utilization capacity in the country to face growing demand. Previous literature has provided some information on substance flow for a few recent years; however, they often fail to interpret better penetration about the current Chinese position of the Nd industry. Therefore, this study attempts to give a detailed examination on the emergence of Nd industry inside the framework of rare-earth utilization and supply with a special emphasis on challenges and prospective. As the frontrunner of rare-earth production, China is responsible for over 95% of the global supply, having a good market for Nd also. It is important to note that recycling Nd plays a crucial role in reducing carbon emissions by lessening the demand for raw material extraction and supporting the growth of green technologies. Finally, it is vital to strengthen the country’s regulations and policies to minimize negative environmental consequences and protect societal values.