Achieving Sustainable Development Goals in rare earth magnets production: A review on state of the art and SWOT analysis

Rare Earth Magnets (REM), especially the NdFeB type, are essential components in high-performance electric motors and wind turbines, playing an important role in the shift towards a low-carbon energy matrix. However, little work has been done to understand how the production of REM can be in line with the global sustainable transition. To overcome this lack and help with future research, as well as decision-making, this paper provides a literature overview of which aspects of sustainability are being investigated in the REM supply chain, and how each of them contributes to achieving Sustainable Development Goals (SDG). This research is developed through a consistent analysis of 44 peer-reviewed publications, followed by an analysis of strengths, weaknesses, opportunities, and threats. Four main subjects of studies were identified: environmental impact; social impact; economic aspects and circular economy. Most of the studies focus on computing the environmental impact through life cycle assessment and discussing techniques towards exploring the circular economy concept. In addition to contributing to a greener economy, the majors identified strengths of REM are the great potential of its supply chain in reducing primary resource extraction, since REM recovery and recycling seem to be viable, and the promising techniques to minimize environmental impacts along the rare earth elements production chain. •The contribution of NdFeB magnets in achieving SDGs was evaluated through a SWOT analysis.•The need for more efficient processes and the lack of updated data were identified as weaknesses.•Negative social impacts and REE supply risks were identified as threats.•The REM supply chain needs to explore CE holistically, and recycling needs to be profitable.