ESCP Europe

Langue

English

Publication year

01/01/2026

Heavy rare earth elements (HREEs) are indispensable to low-carbon energy systems and digital economy technologies. However, few studies have provided a holistic analysis integrating different HREEs, which limits the development of effective policies to improve the overall HREEs efficiency. By applying a dynamic material flow analysis method, this study investigates the flows and stocks of nine HREEs across their life cycles in China for the period of 2011–2020. Results reveal different supply–demand dynamics among these HREEs. Dysprosium and terbium show high criticality with registered supply shortages; yttrium, thulium, and lutetium show medium criticality with stock fluctuations; while gadolinium, erbium, ytterbium, and holmium show low criticality with stock accumulation. Although China dominates global HREEs production, it remains heavily reliant on imports from Myanmar, which accounted for 90 % of its HREEs compounds imports in 2020. Recycling from tailings presents an immediately available secondary source, potentially substituting up to 58 % of China's dysprosium and 46 % of terbium concentrate supplies. In contrast, recycling from end-of-life products is a long-term solution, with recovery from magnet materials peaking around 2037. These findings offer strategic insights to support sustainable HREEs management, including the preparation of element-specific strategies based on the criticality level of each HREE, the diversification of primary supply sources, the promotion of circular economy, and enhanced information governance to monitor HREEs flows.