Another thing is that based on where a person would stick it, its advertising mileage can go far. For one, it’s much easier to keep, unlike the typical flyer. Innovate your marketing strategy to cut through the noise and catch the interest of your target market.Ī promotional magnet can do that for you. said in a note, though the technology faces a challenge as it has traditionally come with a “significant weight or efficiency penalty.”Įxisting rare earth-based motor systems also have a track record of efficiency, and demand for the materials in electric vehicles and renewables energy is forecast to surge.Ībout $3.8 billion of magnet rare earth oxides were consumed in energy-transition related applications in 2022, and the figure will reach more than $36 billion in 2035, Adamas forecasts.Consumer attention is constantly being pulled in different directions by the sheer amount of advertisements everywhere. Read more: Magnets Will Be Minting Tomorrow’s Billionairesįerrite magnets are the most likely candidate for Tesla’s innovation, research firm Adamas Intelligence Inc. Minneapolis-based Niron Magnetics Inc., which has partnered with Volvo Car AB, last year won a $17.5 million US Energy Department grant to help scale up work on rare-earth free magnets that use iron nitride-based technology.Ī team from the University of Cambridge and colleagues from Austria announced a new method to make tetrataenite, a possible replacement for rare-earth magnets, in a research paper published last year. said in December it had developed motors using ferrite magnets that matched the performance of components using rare earths. GM has previously used these, and Japan-based Proterial Ltd. One potential alternative could be ferrite magnets, made of iron and mixed with materials like barium and strontium, which are more widely available and cheaper, according to William Roberts, a senior research analyst at London-based consultancy Rho Motion. “Use of cheaper - though less performance- and efficiency-focused - technologies is likely to become more widespread.” The lack of diversity in rare earth permanent magnet supply chains is “a key concern for the industry within the geopolitics of critical materials,” said Nils Backeberg, founder at London-based consultancy Project Blue. the biggest producer of the materials outside China - is down about a quarter this month. immediately sold off after Campbell’s comments, while Lynas Rare Earths Ltd. Shares of producers including JL Mag Rare-Earth Co. also have sought to reduce reliance on rare earths. Others carmakers including BMW AG, Toyota Motor Corp.

The risks of reliance on Beijing were highlighted in 2010, when prices spiked on China’s decision to slash exports, and in 20 amid speculation that shipments could be limited again amid trade tensions with the US. China accounts for around two-thirds of mining and 85% of refining of the materials. Rare earths - which are used in magnets in everything from phones to wind turbines and fighter aircraft - have long been a pain point for automakers and the clean-energy sector, because of unpredictable prices and China’s tight grip on the supply chain. The automaker is looking to keep driving down costs, avoid processes with environmental and health risks and reduce reliance on commodities that can be most susceptible to wild price swings.

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