Rare Earth Magnets

Automakers worldwide are increasingly reducing their reliance on rare earth magnets in electric vehicles (EVs) to mitigate supply chain vulnerabilities and environmental concerns. This shift is particularly pertinent as global supply chains face disruptions, notably due to export restrictions from China, a major supplier of rare earth materials.

Rare Earth Magnets

Definition:
Rare earth magnets are permanent magnets made from alloys of rare earth elements. They are known for their exceptional magnetic strength and compact size, outperforming other magnets in energy density and magnetic field generation.

Types of Rare Earth Magnets

• Neodymium Magnets (Nd-Fe-B):
  Composed mainly of neodymium, iron, and boron. These are the strongest type of permanent magnets available and widely used in many applications.

• Samarium Cobalt Magnets (SmCo):
  Made from samarium and cobalt, these magnets are also very strong and have excellent temperature stability and corrosion resistance.

Properties

• Extremely strong magnetic force

• High energy density

• Brittle and prone to corrosion (usually nickel-plated to prevent oxidation)

Uses

• Medical: MRI machines, X-rays, PET imaging

• Aviation and Defense: Precision instruments and defense equipment

• Electronics: Smartphones, hard drives, consumer electronics

• Automobiles: Electric vehicle motors and components

• Others: Jewelry, consumer goods

Global Supply Chain

• Dominated by China, which controls about 90% of processing capacity, making the supply chain vulnerable to geopolitical and export restrictions.