Raw Material Supply Crunch Looms Over the Future Growth of the Wind Energy Market
Despite a sluggish economic scenario, the expansion of new wind energy projects has so far continued unabated. A supply shortage of key raw materials, however, may jeopardize the growth of the entire industry.
- (1888PressRelease) November 25, 2011 - Despite a sluggish economic scenario, the expansion of new wind energy projects has so far continued unabated. The worlds wind power capacity is growing at around 20%-25% and according to the Global Wind Energy Council (GWEC), is expected to reach 409 GW by 2014. This growth and outlook, however, is now beginning to have question markets - at least in the short term. A new study from IMARC Group, one of the worlds' leading research and advisory firms entitled" The Global Rare Earth Elements Market 2011-2015: Is the Hype Justified?" finds that the latest wind turbine technologies largely depend upon three rare earth metals - Neodymium, Terbium and Dysprosium, which are projected to face a critical supply shortage in the near future.
Findings from the report also suggested that wind turbine manufacturers utilizing Neodymium, Terbium and Dysprosium are heavily dependent upon China for their rare earth supplies. In 2010, China accounted for 99% of the global Terbium production and 97% of both Neodymium and Dysprosium production. As a result of its increasing domestic demand, the Chinese government in recent years has significantly restricted the export of these elements. For instance, between May 2010 and August 2011, the domestic prices for Neodymium in China increased eightfold, this resulted in the Chinese government decreasing its export quota and ramping up its export taxes on rare earths, leading to sky rocketing prices and a shortage of rare earth elements for the rest of the world.
Supply demand projections from the report suggested that with the opening of a number of non-Chinese mines during 2011-2015, the production of the three rare earth elements will significantly increase and diversify. Despite this increase, we expect demand of Dysprosium, Terbium and Neodymium to outpace the total supply by 71%, 10% and 9% respectively in 2015.
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 in this Report:
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
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
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.
To buy the complete report or to get a free sample, please contact:
IMARC Group Asia
Email: apac ( @ ) imarcgroup dot com
Phone: +91-120-425-6531
IMARC Group North America
Email: america ( @ ) imarcgroup dot com
Phone: +1-631-791-1145
To know more please visit: http://www.imarcgroup.com/
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