Rare Earth Elements Supply Wind Turbines

Key trends in this Market Brief include:

• China's quasi-monopoly on rare earth elements production and processing has resulted in rocketing prices and global concerns about a supply shortage.
• The use of permanent magnets has become the industry's standard for turbines larger than 3 MW in size and for offshore turbines, with over 60% of these turbines announced since July 2010 opting for this technology.
• Increasing concerns over price evolution and a shortage of key elements have forced turbine manufacturers to find ways to cover or reduce their dependency on rare earth elements.