How to evaluate raw material vulnerability - An overview

Christoph Helbig, Lars Wietschel, Andrea Thorenz and Axel Tuma

Resources Policy, 2016, vol. 48, issue C, 13-24

Abstract: Companies, economies and technologies are vulnerable to supply disruptions or price peaks of specific raw materials. Multiple research groups worldwide have proposed methodologies for determining the criticality of raw materials, including assessments on the vulnerability to supply restrictions. These raw material vulnerability assessments use manifold indicators but are not consistent concerning their selection, calculation, interpretation and weighting. Their indicators estimate a raw material’s economic importance or its significance for a strategic goal, or they inform regarding the impact of supply disruptions. Here, we provide an overview of 18 vulnerability assessments in 16 recent criticality studies. Our results reveal 18 different vulnerability indicators, among which a set of six indicators is frequently used and therefore might be recommended for decision makers. The range of possible vulnerability assessment results is exemplified by evaluations of the transition metal copper and the rare earth neodymium. Our overview can serve as a starting point for future raw material criticality assessments concerning the selection of vulnerability indicators and appropriate calculation and weighting methods.

Keywords: Raw material; Criticality; Vulnerability; Resources; Risk analysis (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (33)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:48:y:2016:i:c:p:13-24

DOI: 10.1016/j.resourpol.2016.02.003

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