Research Report on Chinese Rare Earth Industry, 2010-2011
Research Report on Chinese Rare Earth Industry
, 2010-2011
www.shcri.com - Rare earth (RE) elements are a collection of seventeen chemical elements in the periodic table of the chemical elements, namely lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), promethium (Pm), samarium (Sm), europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutecium (Lu), as well as scandium (Sc) and yttrium(Y) that are closely related to lanthanum (La).
Currently, there are near 170 enterprises engaging in rare earth ore exploitation, smelting and separation in China. In 2009, the production of rare earth products in China was 129,400 tons (calculated by rare earth oxide), rising by 3.94% YOY. China's rare earth resources account for about 30% in the world. However, about 95% of the rare earth products in the world are produced and supplied by China. In the 1980s, the rare earth smelting and separation technology popularized by the three state-owned rare earth factories in Baotou, Shanghai and Zhujiang spread over China rapidly. The production capacity of rare earth smelting and separation products also expanded swiftly, far exceeding the market demand and forming the situation of oversupply and low-price competition.
In the 1990s, China began the large-scale exploitation and export of rare earth. With low exploitation cost (ignoring the environment cost), China's cheap rare earth dominates the world market. As a result, most other countries terminated the exploitation of rare earth.
Though China is a large rare earth producing country, the development of Chinese rare earth industry lags behind developed countries. Chinese rare earth enterprises mainly produce upstream and midstream products of low added value, high pollution and high energy consumption. They fall far behind developed countries in the production of downstream expensive rare earth devices and terminal application products.
Due to the extensive management of rare earth resource exploitation and scattered distribution of the rare earth industry, many foreign importers take this opportunity to force down the price. When the global demand for rare earth materials increases year by year, China exported 6,100 tons of medium-end and low-end rare earth products in 1990; the average price was 13,600 USD/ton. In 2009, China exported 36,100 tons of rare earth smelting and separation products, rising by 16.67% YOY. The export value amounted to USD 310 million and the average price was only 8,959 USD/ton.
Chinese government has begun to formulate the Access Conditions of Rare Earth Industry since 2009. In May 2010, the Access Conditions of Rare Earth Industry (Draft for Soliciting Opinions) was published.
In recent years, the concentration of Chinese rare earth industry is improved considerably. A number of large enterprises have set about the M&A of the rare earth industry. In July 2007, Aluminum Corporation of China merged China Rare Earth Exploitation Company and made the rare earth industry its development focus in the future. In June 2008, with the funds of CNY 430 million, Jiangxi Copper Corporation successfully won the mining right in Maoniuping rare-earth-element (REE) deposit, Sichuan. In August 2008, China Minmetals Corporation, Ganxian Hongjin Rare Earth Co., Ltd and Dingnan Dahua Advanced Material Resources Co., Ltd cofounded China Minmetals Rare Earth Co., Ltd.
China practices the quota license administration on the export of rare earth products since 1998. In recent years, Chinese government cuts down the volume of export enterprises, export quotas and annual exploitation volume of rare earth ores. China's Ministry of Commerce declared that the total export quota of rare earth products of domestic-funded enterprises was 50,000 tons in 2005, 34,000 tons in 2008. In 2009, it set the total export quota of 50,145.1 tons for domestic-funded and foreign-funded enterprises. In 2010, it cuts down the export quota to 30,258 tons, including 22,512 tons for domestic-funded enterprises and 7,746 tons for foreign-funded enterprises. The reduction of the export quota leads to the rise of China's rare earth smuggling.
Presently, the rare earth smelting and separation capacity of China is over 200,000 ton/year. In 2009, China's rare earth production came to 129,400 tons and the global rare earth consumption was about 90,000 tons. It is forecast that the production is over 130,000 tons in 2010. It remains difficult to change the situation of oversupply. Though foreign countries enhance the rare earth exploration recently, it will not produce substantive influence on the supply in the rare earth market at present.
Neodymium iron boron permanent magnet is the leading product among rare earth magnetic materials. In 2009, the production of neodymium iron boron permanent magnet was 94,000 tons in China. Presently, besides the wide application in traditional sectors, some new application areas of neodymium iron boron, such as wind power, new energy vehicle, and energy-saving compressor are also emerging with the advent of the low-carbon economy era. With the development of new application areas, it is forecast that the global neodymium iron boron industry will maintain the growth rate of 15% in the coming five years, whereas Chinese neodymium iron boron industry will maintain the growth rate of 20%.
Rare earth is widely applied in traditional sectors (e.g. metallurgy, petro chemistry and textiles) and high-tech sectors (e.g. magnetic material, luminescent material and hydrogen storage material). With the advent of the low-carbon economy era, rare earth will encounter new development opportunities.
Presently, China's production capacity of rare earth luminescent materials is about 10,000 tons. In 2009, China produced about 7,200 tons of rare earth fluorescent powder, ranking the world Top. The three-band fluorescent lamp (energy saving lamp) industry consumed 75% of rare earth luminescent materials as the major application area of luminescent materials. The three-band fluorescent lamp with the advantages of energy saving and long lifespan will gradually replace the incandescent lamp. In 2009, China produced over 3 billion three-band fluorescent lamps. If 80% of the incandescent lamps are replaced, 3 billion three-band fluorescent lamps will be needed every year. Hence, the annual demand for fluorescent powder is about 10,000 tons. By 2015, the total demand for three-band fluorescent powder will be about 60,000 tons.
In 2009, China produced 19,000 tons of rare earth hydrogen storage materials. They consumed 7,900 tons of rare earth, accounting for 11% of the total rare earth consumption. Rare earth hydrogen storage materials are major raw materials for the production of nickel-hydrogen battery. As nickel-hydrogen battery shows positive development prospects in the electric tool and electric vehicle sectors, it is forecast that China's hybrid electric vehicle market will acquire explosive growth after 2010 and the annual growth rate will reach 12%.
In 2008, the consumption of rare earth polishing powder in the world was 20,000 tons, including 8,000 tons for LCD. In recent years, with the booming of the LCD industry, high-performance polishing powder has achieved fast development. Presently, the production capacity of rare earth polishing powder in China exceeded 150 million tons. It is forecast that China's annual production capacity of rare earth polishing powder will reach 20,000 tons in 2010.
In 2009, the rare earth consumed in Chinese petrochemical catalytic cracking sector was about 7,500 tons. It is forecast that China's crude oil processing volume will maintain over 500 million tons in 2015-2020. The rare earth for FCC catalysts will exceed 10,000 tons. Besides, with the considerable growth of the demand for rare earth catalytic materials in the fields of fuel cell, water pollution control, air purification, etc., China's total demand for rare earth catalytic materials will exceed 17,000 tons in 2015-2020.
With the rapid development of high-tech industries, the global rare earth consumption maintains continuous growth. It is predicted that the consumption will reach about 100,000 tons in 2010 and 200,000 tons in 2015. In the short term, Chinese rare earth industry will be faced with oversupply. Nonetheless, considering the strengthening of China's control over the exploitation and export quotas of rare earth as well as the fast demand growth in the downstream application industries, Chinese rare earth industry still shows positive prospects.
Through this report, readers can acquire more information:
-Status quo of Chinese rare earth industry
-Supply of rare earth in China and the world
-Rare earth trade in China and the world
-Regulatory policies of Chinese government on the rare earth industry
-China's rare earth export
-China's rare earth smuggling
-Major enterprises in Chinese rare earth industry and their operation
-Prediction on the development of Chinese rare earth industry
Following persons are recommended to buy this report:
-Rare earth producers
-Rare earth traders
-Downstream enterprises of the rare earth industry
-Investors concerning Chinese rare earth industry
-Research institutes concerning Chinese rare earth industry
Source: http://www.shcri.com/reportdetail.asp?id=480
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Table of Contents
1 Concepts Concerning Rare Earth Industry
1.1 Classification of Rare Earths
1.2 Distribution of Rare Earth Resources in China and the World
1.3 Application Sectors of Rare Earths
2 Supply of Rare Earths in China, 2009-2010
2.1 Development Course of Chinese Rare Earth Industry
2.2 Analysis on Production Capacity of Rare Earth Mines in China
2.3 Analysis on Supply of Rare Earth in China and the World
2.4 China's Rare Earth Export
2.4.1 Normal Export of China's Rare Earth
2.4.2 Rare Earth Smuggling in China
3 Analysis on Downstream Application Sectors of Rare Earths
3.1 Rare Earth Magnetic Materials
3.1.1 Production of Neodymium Iron Boron in China
3.1.2 Application of Rare Earth Magnetic Materials in China
3.2 Rare Earth Luminescent Materials
3.2.1 Production of Rare Earth Luminescent Materials in China
3.2.2 Application of Rare Earth Luminescent Materials in China
3.3 Rare Earth Hydrogen Storage Materials
3.3.1 Production of Rare Earth Hydrogen Storage Materials in China
3.3.2 Application of Rare Earth Hydrogen Storage Materials in China
3.4 Rare Earth Polishing Materials
3.4.1 Production of Rare Earth Polishing Materials in China
3.4.2 Application of Rare Earth Polishing Materials in China
3.5 Rare Earth Catalytic Materials
3.5.1 Production of Rare Earth Catalytic Materials in China
3.5.2 Application of Rare Earth Catalytic Materials in China
4 Analysis of Major Enterprises in Chinese Rare Earth Industry
4.1 Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co., Ltd
4.1.1 Overview
4.1.2 Operation
4.1.3 Development Strategy
4.2 Beijing Zhong Ke San Huan Hi-Tech Co Ltd
4.2.1 Overview
4.2.2 Operation
4.2.3 Development Strategy
4.3 China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd.
4.4 Ganzhou Rare Earth Mineral Industry Co., Ltd
4.5 Sichuan Mianning Mining Co., Ltd
4.6 Sichuan Mianning Fangxing Rare Earth Company
4.7 Baotou Damao Rare Earth Co., Ltd
4.8 Shandong Weishan Lake Rare Earth Co., Ltd
4.9 Fujian Changting Jinlong Rare Earth Co., Ltd
4.10 Xichang Zhineng Industry Co., Ltd.
4.11 Hengdian Group DMEGC Magnetics Co., Ltd
4.12 Ningbo Yunsheng Co., Ltd
Selected Charts
Chart Classification of Rare Earths
Chart Category of Rare Earth Ore
Chart Typical Ingredients of Rare Earth Ore
Chart Distribution of Rare Earth Resources in the World
Chart Distribution of Rare Earth Resources in China
Chart Changes of the Consumption Structure of Rare Earth in China
Chart Consumption Structure of Rare Earth in the New Material Sector in China
Chart Export Quotas of Rare Earth in China, 2007-2010
Chart Changes of the Consumption Structure of Sintered Neodymium Iron Boron
Chart Application of Rare Earth in Traditional Industries
Chart Application of Rare Earth in Functional Material Sectors
Chart Major Rare Earth Mine Enterprises in China
Chart Comparison of Control Quotas of Rare Earth Exploitation with Actual Production in China
Chart Major Policies Released by Chinese Government on the Rare Earth Industry, 2003-2010
Chart Major Neodymium Iron Boron Producers in China and Their Production
Chart Major Rare Earth Luminescent Material Producers in China and Their Production
Chart Major Rare Earth Hydrogen Storage Material Producers in China and Their Production
Chart Major Rare Earth Polishing Powder Producers and Their Production
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