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Yttrium

Rare Earths: Critical Minerals for The Energy Transition

Navigating the Yttrium Market

Yttrium is a versatile rare earth element known for its significant role in various high-tech and industrial applications. Due to its unique properties, primarily sourced from minerals such as monazite and bastnäsite, yttrium is used in a wide range of fields. One of its key uses is producing phosphors for colour television tubes, LEDs, and other display technologies, enhancing colour and brightness. Yttrium is also crucial in manufacturing superconductors, ceramics, and various medical devices, including cancer treatment applications. Yttrium's role in producing yttrium-aluminum garnet (YAG) lasers, which are used in both industrial and medical settings, underscores its importance. Additionally, yttrium-stabilized zirconia is a critical material for high-temperature applications and solid oxide fuel cells (SOFCs), contributing to energy efficiency and sustainability advancements. With the increasing demand for advanced materials and technologies, the importance of yttrium continues to grow. Understanding its applications and market dynamics is essential for stakeholders in the electronics, energy, and medical sectors, ensuring they can leverage yttrium's unique properties to drive innovation and technological progress. SFA (Oxford) aims to provide strategic insights into yttrium's current state and future demand to assist decision-making and optimise long-term supply availability.

An introduction to yttrium

Yttrium demand and end-uses

Yttrium is a rare earth element with demand driven by a diverse range of uses. Some of the primary end-uses and applications for yttrium include phosphors for colour TV and LED displays to enhance colour and brightness, a component in high-temperature superconductors, ceramics (knives, dental implants, engine components, nitrides and Y-stabilised ceramics, which protect jet engines), an alloying component of aluminium and magnesium alloys (for aerospace applications to improve strength and performance), catalysts to enhance efficiency (polymerisation of ethylene, and catalytic converters), and medical treatments (where yttrium-90 is suitable for targeting liver tumours in radioembolization), solid oxide fuel cells (advancing energy efficiency and sustainability) and military applications (weapon systems, communication, electronic warfare defence and flight control motors). 

The Yttrium Market
Strategic applications of Yttrium
Yttrium supply

Yttrium is produced as a by-product from heavy mineral sands (ion-adsorption clays), rare earth mining (predominantly monazite, xenotime and bastnäsite minerals), uranium ores and coal ash. Yttrium can also be found in other minerals such as eudialyte, fergusonite, gadolinite, xenotime, ytrrialite and yttrium fluorite, niobium-tantalum minerals, and phosphorites (sedimentary phosphate deposits).

Yttrium supply is predominantly from China. Other yttrium resources have been identified in the United States, Australia, Brazil, India, Russia, South Korea, and Southeast Asia such as the Philippines, Vietnam and Myanmar.

Future rare earth oxide (REO) producers
Future rare earth oxide (REO) refiners
Rare earth recyclers

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Minor metals play a pivotal role in advancing the energy transition by enabling significant improvements in energy efficiency and the performance of clean energy technologies.

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Henk de Hoop

Chief Executive Officer

Beresford Clarke

Managing Director: Technical & Research

Jamie Underwood

Principal Consultant

Ismet Soyocak

ESG & Critical Minerals Lead

Rj Coetzee

Senior Market Analyst: Battery Materials and Technologies

Dr Sandeep Kaler

Market Strategy Analyst

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