Research Articles

Growing export restrictions placed on defense-related rare earth materials from China at a time of multiple international conflicts underscores growing demand in the US and Europe to develop alternative supply. China's latest export restrictions on critical rare earth elements applies yet more pressure to what are already tightly controlled materials.

IDTechEx estimates that global rare earth magnet production will exceed 330 ktpa by 2036, as the USA and Europe move to reshore and scale domestic manufacturing capacity. Technology innovations addressing rare earth separation and magnet manufacturing will play a critical role in achieving increased magnet production while reducing reliance on supply-strapped heavy rare earths.

As demand for critical rare earths, semiconductors, and battery materials grows amid increasing supply uncertainty, waste and other secondary feedstocks are emerging as key sources for critical material recovery. IDTechEx forecasts that 8,150 ktonnes of critical materials will be recovered from waste annually by 2046, driven by strategic reshoring of critical material supply chains, maturation of key recycling technologies, and the growing value recoverable from waste.

IDTechEx analyst Dr Jack Howley summarizes the rare earth magnet market.

High-performance rare earth magnets are set to remain critical materials in electric vehicles, wind turbines, and robotics applications, despite a climate of intensifying supply risks, price pressures and export restrictions. As new rare earth supply chains emerge across the USA, Europe and Asia, IDTechEx characterizes growth opportunities presented for rare earth magnet technologies - from separation and refining to magnet production and recycling.

Ion exchange membranes are emerging as critical materials in the transition to green energy. Emerging applications in hydrogen fuel cells, water electrolyzers, and redox flow batteries are expected to drive significant market growth through 2035.

Ion exchange membrane material design trends are evolving to meet the demands of emerging green hydrogen, carbon capture, and energy storage application growth markets. IDTechEx forecasts that membrane demand will exceed 5.3 million m² annually by 2035, with innovations in reinforced and PFAS-free materials shaping the next generation of ion exchange membranes.

Ion exchange membranes are crucial materials used as solid electrolytes in green hydrogen and energy storage technologies. Rising demand and material manufacturing innovations are set to define the ion exchange membrane market over the next decade, which IDTechEx predicts will exceed US$2.9B in value by 2035.

As demand continues to grow and supply risks swell, a market for critical material recovery technology that enables recycling from end-of-life products and waste is rapidly emerging.

Industrial Internet of Things sensor technology (IIoT) seeks to enable greater industrial automation, improved worker safety, and streamlined maintenance planning. From cameras, LiDAR, and radar for machine vision in robotics, to skin patches and miniaturized gas sensors in smart personal protection equipment, emerging IIoT applications present growth opportunities for a variety of sensor technologies.

While sensors contribute just a fraction of the annual revenue generated by major electronics companies, sensor technology nevertheless represents a multi-billion-dollar global market.

The electrification of vehicle fleets globally continues to create demand for rare earth magnets. With China being the largest electric vehicle market, rare earth permanent magnet motors are expected to retain the majority of the electric motor market share.

With over 100 million electric vehicles (EVs) expected to reach end-of-life over the next two decades, IDTechEx's latest report predicts that the value of critical materials recovered annually by 2045 will surpass US$100B.

End-of-life equipment from automotives, electric vehicles, e-waste and decarbonized energy technologies are rapidly emerging secondary raw material sources for valuable critical materials. A new report from IDTechEx forecasts that US$110B of critical materials will be recovered annually from secondary sources by 2045, with a combined weight of over 3.3 million tonnes.

Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Integrated sensors digitizing physical interactions are vital in everyday life. From personalized user experiences to warehouse inventory management, data-driven insights are driving demand for smarter sensors — and lots of them.

In March, the printed electronics industry flocked to Munich once again for the LOPEC 2024 conference and exhibition. Featured were some of the latest printed electronics technologies addressing global mega-trends such as vehicle electrification, healthcare personalization, industry 4.0, and sustainability.

Sensors are vital in modern life. They measure a vast quantity of metrics and parameters, acting as the interface between the physical and digital worlds. Printed sensors can be produced in large areas on flexible substrates, reducing costs and unlocking new market opportunities. The new IDTechEx report, "Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets", breaks down key trends by technology approach - highlighting both opportunities and challenges for the industry forecast to reach US$960 million by 2034.