Critical Raw Materials for
Ireland's Economic Future
Identifying resource vulnerabilities and opportunities through advanced
criticality assessment methodologies
Critical Raw Materials for Ireland 2023
Understanding the criticality of raw materials is essential for Ireland’s economic security and industrial strategy. Our comprehensive analysis reveals that 18 out of 42 assessed materials are deemed critical based on economic importance and supply risk factors.
Our Research Approach
Using a threshold-based assessment method (Method I), materials are classified as critical when they exceed both Economic Importance (EI ≥ 0.4) and Supply Risk (SR ≥ 1.0) thresholds. This analysis highlights several materials of particular concern:
Tungsten
Essential for hardened steel manufacturing, electronics, and aerospace applications.
0.73
Economic Importance
2.67
Supply Risk
Cobalt
Critical for battery technology, particularly in electric vehicles and renewable energy storage.
0.73
Economic Importance
2.67
Supply Risk
Tellurium
Used in solar panels, electronics, & thermoelectric devices for sustainable technologies.
1.46
Economic Importance
1.66
Supply Risk
The materials analysis highlights concerning supply risks for many materials critical to Ireland’s economic development, particularly in renewable energy, electronics, and advanced manufacturing sectors.
Three Methods for Evaluating
Material Criticality
raw materials for Ireland’s economy, providing a robust framework for policy
decisions and industry planning.
Method I:
Threshold-Based Analysis
This method employs clear thresholds for Economic Importance (EI ≥ 0.4) and Supply Risk (SR ≥ 1.0). Materials exceeding both thresholds are classified as critical. While straightforward, this binary classification may oversimplify the nuanced nature of material criticality.
Method II:
Categorical Criticality Assessment
Elevated criticality: Materials exceeding one threshold but not both (16 materials).
Low criticality: Materials below both thresholds (8 materials).
Method III:
Ranking by Combined Metrics
The third method ranks materials based on the sum of their Economic Importance and Supply Risk values, providing a clear prioritization from most to least critical. Tungsten, Tantalum, Silver, Cobalt, and Niobium emerge as the top five most critical materials for Ireland’s economy…
Our Research Approach
Policy Implications and Future Outlook
Our analysis of critical raw materials has significant implications for Ireland’s economic planning, industry development, and international trade relationships.
Key Findings and Recommendations
The identification of 18 critical materials highlights vulnerabilities in Ireland’s supply chains, particularly for materials essential to clean energy technologies, electronics, and advanced manufacturing. Based on our analysis, we recommend:
- Diversification of Supply Sources: Reducing dependency on single countries or regions for critical materials like Tungsten, Cobalt, and Rare Earth Elements.
- Investment in Recycling Technologies: Enhancing domestic recycling capabilities to recover valuable materials from end-of-life products.
- Strategic Stockpiling: Establishing reserves of the most critical materials to buffer against supply disruptions.
- Research into Substitution: Funding research to develop alternatives for the most constrained materials.
- International Partnerships: Strengthening trade relationships with stable suppliers and engaging in resource diplomacy.
Key Findings and Recommendations
Different sectors of Ireland’s economy face varying levels of risk from material criticality:
Key Findings and Recommendations
The criticality landscape is not static. Several factors will shape future material criticality for Ireland:
- Rapid growth in clean energy: technologies will increase demand for cobalt, lithium, and rare earths
- Geopolitical tensions: may further constrain supply chains for certain materials
- Technological innovations: could reduce dependency on some critical materials
- Climate change policies:may accelerate transition to materials needed for low-carbon technologies
Explore the Complete Materials Database
supply chain risk evaluations and economic importance metrics.