Projected growth by sector
Each sector’s projected demand growth, % a year, and what each projection assumes.
Demand Momentum (DM)
The demand growth a mineral inherits from the sectors that use it, in % a year. A mineral that goes mostly into data centres and robots grows with them, while one that goes mostly into mature industries grows at their pace.
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How it’s built
Each mineral’s demand is split across 8 sectors, the split shown in the Demand section of every mineral page in the Terminal. DM weights each sector’s projected growth by its share of the mineral’s demand and adds them up: DM = Σ (sector share × sector growth). It shows the mineral’s demand growth in % a year, assuming each sector grows as projected and the split stays the same.
Sectors
The sectors
Each named sector has its own page: the critical minerals it depends on and why. The rest of each mineral’s demand sits in Other.
Scores
From DM to demand pressure
The scores use DM on a 0–100 scale.
Scaled from 0 to 100 against the range across all minerals, DM becomes the demand pressure score (DPS), the demand part of a company’s CMCS (output share × SES × DPS × C) and its Mineral exposure (MES). As a growth rate, DM is the Demand CAGR shown on every mineral page in the Terminal, and a company’s Demand momentum tile is DM averaged across its minerals, each weighted by the company’s share of that mineral’s world supply.
Stockatomics Terminal
Today’s readings
Fastest-growing demand first, in the Stockatomics Terminal.
Strongest and weakest momentum
Every mineral’s DM, % a year, with its demand pressure score.
FAQ
Demand Momentum (DM) FAQ
What is demand momentum (DM)?
The demand growth a critical mineral inherits from the sectors that use it, in % a year. A mineral that goes mostly into data centres and robots grows with them, while one that goes mostly into mature industries grows at their pace.
How is demand momentum calculated?
DM weights each sector’s projected growth by its share of the mineral’s demand and adds them up: DM = Σ (sector share × sector growth). It assumes each sector grows as projected and the split stays the same.
Research
More research
The full method is set out in our research paper.
- Supply Elasticity (SES)How hard it is for supply to respond when demand rises.
- Supply Concentration (C)How few producing countries hold world supply.
- Company Exposure (CMCS)How much of a listed company’s output is in constrained, concentrated, fast-growing minerals.
- Benchmark PricesThe monthly price per kg contained, for every critical mineral.
- Stock vs Mineral PerformanceHow listed companies performed against their minerals’ benchmark prices.
- AI Infrastructure IndexWhat the hardware behind AI costs, month by month.