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The metals and alloys that contain them are used in many devices that people use every day such as computer memory, DVDs, rechargeable batteries, cell phones, catalytic converters, magnets, fluorescent lighting and so on.During the past 20 years, there has been an explosion in demand for many items that require rare earth metals. There were very few cell phones in use then but the number has risen to over seven billion in use today. Rare earths’ use in computers has grown almost as fast as the number of cell phones.Many rechargeable batteries are made with rare earth compounds. Demand for the batteries is being driven by demand for portable electronic devices such as cell phones, readers, portable computers, and cameras.Rare earths are also used as catalysts, phosphors, and polishing compounds for air pollution control, illuminated screens on electronic devices, and much more. All of those products are expected to experience rising demand.

He explained that China could cripple global industry, especially emerging technologies, if it were to ban exports of rare earth materials. There are very few options in sourcing those essential technology metals from anywhere else, the analyst said. “Of course, China does not necessarily want to do this, because, it plays a long game – and it does not want the West to develop alternatives.”