CITIC Securities: China has a rare earth full industry chain advantage, future focus on the demand-driving field of neodymium iron boron materials

CITIC Securities released a research report stating that China is the world's largest rare earth resource country, mining/metallurgical producer, and consumer, possessing advantages across the entire rare earth industry chain. According to USGS data, China's rare earth reserves account for about 40% of the global total, with a higher concentration of medium and heavy rare earths in the southern regions. Rare earth permanent magnets are the largest consumption area for rare earths, maintaining high-speed growth. The demand for high-performance neodymium iron boron materials in the field of new energy vehicles is the most significant, with future demand accounting for approximately 50%. Due to the rapid growth in the fields of new energy vehicles, energy-saving motors, wind power generation, etc., it is expected that the demand for high-performance neodymium iron boron magnetic materials will reach 212,000 tons by 2027, with an average annual compound growth rate of 13%.