REalloys has successfully produced rare earth fluoride feedstock without using hydrofluoric acid, achieving an oxygen content of 0.34%—well under the 1% threshold required for metallization-grade materials. Eliminating HF from this critical step could reshape upstream rare earth supply chains by removing one of the most hazardous chemical inputs.

Olin’s hydrofluoric acid segment ranks among the largest HF producers globally, supplying chemical, semiconductor and mineral processing clients. Rare earth metallization represents a niche but growing demand source for HF, and a shift to HF-free processes may reduce Olin’s industrial acid volumes.

If the HF-free process scales commercially, Olin may face pressure on its HF sales and overall industrial chemicals margins. The company could respond by reallocating capacity, innovating new fluorine chemistries or expanding into alternative chemical segments to mitigate potential revenue headwinds.