To clarify the rare earth demand growth driven by global rapid expansion of wind power under carbon neutrality and make the rare earth resource strategic planning for wind power development, this paper intends to predict global 10 major countries and regions' rare earth demand for wind power development by 2040 through material flow analysis, studies the implications of technology progress and recycling on rare earth supply and demand structure, and explores the advantages and issues of China's rare earth industry under carbon neutrality. Our results show that: 1) carbon neutrality climate target will bring about a rapid expansion of global demand for rare earth elements, which is about twice that under the stated policies; 2) global wind power development will lead to severe rare earth supply pressure, and material technology progress and recycling will play important roles in alleviating this pressure; 3) China will still occupy a leading position in the global rare earth industry chain in the next 20 years, but face competition and challenges from global diversified rare earth suppliers, such as Australia, Myanmar, Vietnam, North America, etc. We propose that China should coordinate "two resources" and "two markets" at home and abroad, make full use of the advantages of rare earth processing industry agglomeration, strengthen technological competitiveness of highperformance magnet materials and their related industries, and accelerate the construction of rare earth permanent magnet recycling industrial chain.

rare earth  /  carbon neutrality  /  wind power development