Rare metals are metallic elements that exist on Earth in very small quantities, often referred to as rare earth elements and precious metals. They are also referred to as "rare metals" because their quantities are so limited and their supply on Earth is so scarce.
These rare metals have unique chemical and physical properties. For example, they resist corrosion at high temperatures and have properties such as good electrical conductivity and magnetism. As a result, they are widely used in science, industry and technology.
Rare metals have a variety of applications, including electronics, batteries, medical, aerospace and defense. In electronics and batteries, they are commonly used as conductors in various devices, capacitors and electrode assemblies in batteries. In the medical field, they are used in the manufacture of medical devices and drugs. In the aerospace and defense fields, they are the basis for the manufacture of advanced materials and equipment.
With the advancement of technology and the increase in market demand, the importance of rare metals is getting more and more attention. As a result, they have become one of the very important commodities in the market.
With the increased demand for high-tech products in various industries, and the increased need for environmentally friendly technologies and clean energy, the need to store and use these rare metals has increased. The rare metals market is predicted to expand and continue to grow rapidly in the coming years, including demand for permanent magnets, electric vehicles, solar cells, and high-temperature superconductors.
Despite the strong growth trend, rare metals face challenges. For example, there is supply chain uncertainty and the adverse environmental impacts of rare metals mining. However, solutions to these issues are being actively sought around the globe, including finding alternatives and using more environmentally friendly methods of mining.