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In terms of chemical similarity, the rare earth group consists of 17 elements. Many different applications, such as catalysis and lighting, use rare earth elements. Although permanent magnets are the most significant application for rare earth materials.
Samarium cobalt or neodymium iron boron are the two primary building blocks for rare earth magnet compositions .As civilization transitions to one based primarily on electricity, rare earth magnets play a crucial role in energy production and utilisation.
The aerospace, robotics, electrical, wind turbine, medical, military, and automobile industries all rely heavily on them. In order to power important components like drive motors, fans, generators, power steering, pumps, seat motors, and loudspeakers, electric and hybrid cars need hundreds of magnets.
Rare earth materials are recycled in part because it is very challenging to separate magnets from waste streams. For instance, eight to ten security screws would need to be removed in order to remove a NdFeB magnet that is bonded in place and coated in Ni.
The magnet is also located inside a computer hard disc drive. Shredding is used to reduce the amount of electronic and automotive waste.
The Global rare earth magnets recycling market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
The development of methods for recycling rare earth magnets was disclosed by Hitachi Ltd., a major general electronics company in Japan. As a project to encourage the recycling of fresh resources, the project is sponsored by Japan’s Ministry of Economy, Trade, and Industry.
It intends to develop a technology for high-performance magnet motors made from recycled rare earth metals from urban mines. Even though they are small, rare earth magnets constructed of iron alloys with rare earth elements like neodymium and dysprosium are powerful and heat-resistant.
Due to their importance in producing goods required for a future with low carbon emissions, rare earth magnets are in greater demand.
These products include hard disc drives used in PCs, IT equipment, high-performance motors required for factory automation, wind turbines used to generate electricity, high-efficiency air conditioners or washing machines, and the drive motors of hybrid vehicles.
