Application of rare earths in consumer electronics and challenges for recycling

During recent years, technological innovations, especially increasing demand on green technologies, resulted in manifold applications using rare earths which lead to a steep increase in their demand. The high demand and the expected supply shortages, additionally triggered by Chinese export restrictions, lead to a significant increase in rare earth prices. This is also triggered by the fact that currently China produces more than 95% of the global rare earth volumes and has therefore effective control over the rare earth market. This steep increase is not only a burden for manufacturers and consumers. It offers the chance to address the problem of today's rare earth supply in more depth and to build up a sustainable rare earth economy in all relevant sectors. The low prices in the past led to a significant waste of resources. Until now, there has been almost no recycling of rare earths. The new prices might be a starting point to build up recycling systems for rare earth compounds. Similarly, science and industry are beginning to conduct research and develop options for a substitution of rare earth.