A common theme in the magnet industry is to attempt to forecast production and consumption of magnets within one or two applications, ignoring others. In one widely discussed market, for example, one can look at the transition from conventional ICE to hybrid or full electric drive vehicles and the associated magnet requirements. Other markets of note include transportation electrification, stationary and mobile refrigeration systems, medical diagnostics, drones and robotics. There is also a transition taking place from HDDs to SSDs that is likely to free up measurable amounts of neodymium. We’ll look at these and other applications/industries, the growth trends within each and the combined demand-supply picture.