# 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.

Source: https://www.stockatomics.com/research/demand-momentum

## 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.

## 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.

- [AI](https://www.stockatomics.com/sectors/ai): 48 critical minerals
- [Semiconductors](https://www.stockatomics.com/sectors/semiconductors): 57 critical minerals
- [Power Grids](https://www.stockatomics.com/sectors/power-grids): 60 critical minerals
- [Electric Vehicles](https://www.stockatomics.com/sectors/electric-vehicles): 57 critical minerals
- [Batteries](https://www.stockatomics.com/sectors/batteries): 26 critical minerals
- [Defence](https://www.stockatomics.com/sectors/defence): 60 critical minerals
- [Robotics](https://www.stockatomics.com/sectors/robotics): 48 critical minerals

In the Stockatomics Terminal (https://www.stockatomics.com/terminal/research/demand-momentum, sign-in required):

- Projected growth by sector: Each sector’s projected demand growth, % a year, and what each projection assumes.

## 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](https://www.stockatomics.com/research/company-exposure)** (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.

## Today’s readings

Fastest-growing demand first, in the Stockatomics Terminal.

In the Stockatomics Terminal (https://www.stockatomics.com/terminal/research/demand-momentum, sign-in required):

- Strongest and weakest momentum: Every mineral’s DM, % a year, with its demand pressure score.

## 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.

## More research

The full method is set out in [our research paper](https://www.stockatomics.com/research/constraint-transmission-framework).

- [The Stockatomics Model](https://www.stockatomics.com/research): what Stockatomics measures and where the data comes from.
- [Supply Elasticity (SES)](https://www.stockatomics.com/research/supply-elasticity): How hard it is for supply to respond when demand rises.
- [Supply Concentration (C)](https://www.stockatomics.com/research/supply-concentration): How few producing countries hold world supply.
- [Company Exposure (CMCS)](https://www.stockatomics.com/research/company-exposure): How much of a listed company’s output is in constrained, concentrated, fast-growing minerals.
- [Benchmark Prices](https://www.stockatomics.com/research/benchmark-prices): The monthly price per kg contained, for every critical mineral.
- [Stock vs Mineral Performance](https://www.stockatomics.com/research/stock-vs-mineral): How listed companies performed against their minerals’ benchmark prices.
- [AI Infrastructure Index](https://www.stockatomics.com/ai-infrastructure-index): What the hardware behind AI costs, month by month.