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Forecasts of Rare-earth Elements Consumption in Russia: Basic and Emerging Industries

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  • A. E. Cherepovitsyn

    (Empress Catherine II Saint Petersburg Mining University)

  • I. P. Dorozhkina

    (Empress Catherine II Saint Petersburg Mining University)

  • V. M. Solov’eva

    (Empress Catherine II Saint Petersburg Mining University)

Abstract

This study aims to develop medium-term forecasts for the consumption of rare-earth elements in Russia by considering the concepts, strategies, and programs associated with the development of both national industries with stable demand for these elements and emerging industries. Forecasts were developed using methods of correlation analysis and extrapolation, and specific values of rare-earth elements consumption per unit of finished product were assessed based on an analysis of global industrial experience. The study results include a classification of existing and promising industries that consume rare-earth elements in Russia, forecasts of consumption in basic and emerging industries for the period from 2023 to 2030, and an analysis of the forecast demand for rare-earth elements. These results can be used to develop strategic documents for the development of the rare-earth industry in Russia.

Suggested Citation

  • A. E. Cherepovitsyn & I. P. Dorozhkina & V. M. Solov’eva, 2024. "Forecasts of Rare-earth Elements Consumption in Russia: Basic and Emerging Industries," Studies on Russian Economic Development, Springer, vol. 35(5), pages 688-696, October.
    • Handle: RePEc:spr:sorede:v:35:y:2024:i:5:d:10.1134_s1075700724700229
    DOI: 10.1134/S1075700724700229
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    3. I. S. Filutich & M. V. Dobrokhotova & I. S. Kuroshev & Yu. V. Ukhina, 2023. "Trends and prospects of the market of rare earth metals and materials for electric power storage systems," Russian Journal of Industrial Economics, MISIS, vol. 15(4).
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