Adamas Intelligence expects 10-fold increase in value of rare earths to $36.2B by 2035; growth led by passenger EV traction motors
Green Car Congress
FEBRUARY 4, 2023
The total value of rare earth oxides consumed for the energy transition each year quadrupled between 2020 and 2022. As such, rapidly growing EV sales globally stand not only to boost NdFeB demand for EV traction motors but also for the wealth of smaller applications pervading modern electric vehicles. billion in 2022 to $36.2
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