Research on the competitive landscape of global rare earth resources demand

Abstract

Rare earth elements play a crucial role in modern industrial development. However, the global supply and demand dynamics of rare earth resources have encountered significant challenges due to the escalating conflict between rapidly increasing demand and limited supply in the international market. This study utilizes a gray prediction model to project the future demand of major rare earth‐consuming countries and examines the competitive landscape of global rare earth resource demand. The findings indicate that: (1) China's rare earth consumption is expected to continue its upward trend, while the consumption in the United States and Japan may decline; (2) China, the United States, and Japan are likely to maintain their positions as major consumers of rare earth elements, although the competition for rare earth resources among these countries may weaken; (3) the United States and Japan heavily rely on the import of rare earth upstream products, while China's reliance on midstream and downstream imports remains prominent. Finally, based on these research conclusions, the article presents corresponding policy recommendations.