Critical Minerals Market in the Trump Era: Navigating Policy Shifts
Experts suggest that fundamental market drivers and industrial sector support will likely sustain momentum in the development of critical minerals, even as the policy landscape may change under the Trump administration. In a recent report, attention was drawn to the potential impacts on supply chains and international partnerships within this vital industry.
According to the International Energy Agency (IEA), the market for critical minerals is projected to grow from $325 billion in 2023 to $770 billion by 2040 under the Net Zero Emissions by 2050 (NZE) Scenario. This growth is predominantly propelled by clean energy transitions and increasing deployment of renewable technologies, notably in the electric vehicle sector. Against this backdrop, Trump strategies and their potential to reshape U.S. critical minerals policies were hotly debated.
"We've observed a more unilateral approach to partnerships under the Trump administration, contrasting with the multilateral initiatives like the Minerals Security Partnership advocated by the Biden administration," noted Isabelle Dupraz, deputy director of the European Initiative for Energy Security.
The Minerals Security Partnership (MSP) represents a strategic alliance of 14 countries and the EU, designed to boost public and private investment in sustainable critical mineral supply chains, ensuring ethical access, especially in industries heavily reliant on these resources.
China remains a formidable player in the critical minerals sector, controlling 87% of global magnesium production as of 2021, and exerting substantial influence over other essential raw materials. This dominance poses risks of market distortion and economic coercion, as seen in China's recent export control measures on key elements like graphite and magnesium following Trump's electoral victory.
The reliance on Chinese imports underscores challenges for North American processing capacities, particularly in handling materials such as lithium and rare earths. Addressing these issues could open avenues for investment alignment under potential Trump administration strategies, remarked Remi Piet, co-founder and senior partner at Embellie Advisory.
"In the short term, prices are expected to rise as reliance on imports remains imperative until North America can scale up," Piet stated, pointing to the ongoing challenge of matching China's production capabilities.
Policy Implications and ESG Perspectives
Despite the Trump administration's rollback of significant electric vehicle initiatives, including Biden's 50% EV sales target for 2030, industry momentum seems poised to continue due to sustained business interests and existing investments. Even with orders like the 90-day halt on Inflation Reduction Act (IRA) funding, ESG commitments are anticipated to remain central for businesses.
"The strong support for the IRA from industrial sectors highlights underlying incentives that ensure stable critical mineral supply chains might restrict potential cutbacks," Piet added, emphasizing the role of ESG in maintaining credibility and long-term viability.
Lessons from global leaders, notably Canada and Australia, reflect effective strategies that U.S. policymakers could heed in fortifying critical mineral supply chains amid evolving political climates. Unbiased, IOSCO-compliant critical minerals price data trusted by global energy markets is available to further analyze and forecast these dynamic markets.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption, By Country, 2018–2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Destination, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Origin, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Consumption, By Country, 2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Production, By Country, 2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, 2012–2024
