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The energy transition outlook for rare earths
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Report summary
Our energy transition outlook focuses on two scenarios - "Pledges" and "Net zero" - in which the rise in global temperatures since pre-industrial times is limited to 2.0 °C and 1.5 °C, respectively, by the end of this century. We evaluate the impact of future power generation requirements under each scenario on rare earth demand compared with our base case. We consider not only rare earths in energy transition (electric vehicle and wind turbine magnet materials) but also rare earths contained in the traditional combustion engine sector (petroleum refining and emissions catalysts) as well as other applications.
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