Raw Material Criticality Analyzer
The Raw Material Criticality Analyzer helps assess the criticality of various raw materials based on their
Economic Importance (EI) and Supply Risk (SR) factors.
Economic Importance (EI) and Supply Risk (SR) factors.
Three Methods for Evaluating
Material Criticality
Our research employs three complementary methods to evaluate the criticality of
raw materials for Ireland’s economy, providing a robust framework for policy
decisions and industry planning.
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
High criticality: Materials exceeding both EI and SR thresholds (18 materials).
Elevated criticality: Materials exceeding one threshold but not both (16 materials).
Low criticality: Materials below both thresholds (8 materials).
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…