A tiny magnet sits at the center of the world’s green transition. It never gets photographed at flashy EV launches, nor is it visible in wind farms stretching across the coast. But without a rare-earth permanent magnet inside the motor, an electric vehicle is just a heavy metal frame. Without it, a turbine blade is just a sculpture.
These magnets, mostly made from neodymium, iron and boron, are the hidden drivers of movement in clean-energy machines. And the world’s hunger for them is rising like never before.
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RACE FOR RARE EARTH MAGNETS
The International Energy Agency estimates that global demand for neodymium magnets could double again by 2030, as electric vehicles and wind turbines scale at a record pace.
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