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A raw material, also known as a feedstock, unprocessed material, or primary commodity, is a basic material that is used to produce goods, finished goods, energy, or intermediate materials that are feedstock for future finished products. As feedstock, the term connotes these materials are bottleneck assets and are required to produce other products.
Figure gives a summary of critical raw materials lists reported by the European Commission in 2011, 2014 and 2017. The Critical Raw Materials Act came into effect on 23 May 2024. It specifies a list of 34 CRM, including 17 raw materials [c] considered strategic. [10] [11]
Raw materials: Materials and components scheduled for use in making a product. Work in process (WIP): Materials and components that have begun their transformation to finished goods. These are used in process of manufacture and as such these are neither raw material nor finished goods. [8] Finished goods: Goods ready for sale to customers.
A material is a substance or mixture of substances that constitutes an object.Materials can be pure or impure, living or non-living matter. Materials can be classified on the basis of their physical and chemical properties, or on their geological origin or biological function.
A raw material is the basic material from which goods, finished products or intermediate materials are manufactured or made. Raw material may also refer to: Raw Material, 2000 Mars Ill album; Raw Material, 1984 novel by Jörg Fauser; Raw Materials, 2006 Vijay Iyer album
It is to be distinguished from other processes such as smelting and calcining in that those two involve a chemical change to the raw material, whereas in refining the final material is chemically identical to the raw material. Refining thus increases the purity of the raw material via processing.
Countries that primarily produce agricultural and other raw materials (i.e., primary sector) tend to grow slowly and remain either under-developed or developing economies. The value added through the transformation of raw materials into finished goods reliably generates greater profitability, which underlies the faster growth of developed ...
Strategic materials encompass a subset of raw materials required to make a product. The strategic materials may be limited in number or subject to shortages. In this case, the strategic plan would call for an alternative supply chain or alternative materials in the event of a breakdown in the current supply chain. [citation needed]