Forecasting demand data for critical materials

Gallium, Indium and Cobalt are critical materials that are vital to ramping up the adoption of clean energy technologies such as solar photovoltaics (PVs), electric vehicles (EVs) and wind turbines (WTs). Like other critical materials, they are prone to supply chain risks resulting in future uncertainty associated with supply, demand and price parameters. Understanding current and future market dynamics will mitigate this uncertainty. This article applies the Bass Diffusion Model to generate demand projections as three data sets each for Gallium, Indium and Cobalt until 2050. Generating and compiling these data are one step in enabling insights on future market parameters of the considered materials and the clean energy products that rely on their availability. Going forward this data has the potential to contribute towards understanding other market parameters such as supply and prices.