The price of the rare earth oxide cerium oxide is expected to reach some 1,610 U.S. dollars per metric ton in 2030. In 2011, the price of cerium oxide reached a record high, at some 98,217 U.S. dollars per metric ton.

The average price of cerium in the United States for 2023 reached 995 USD/MT (Cerium Oxide). Whereas the price trend for cerium in China reached 1023 USD/MT in 2023 (Cerium Oxide).

Explore IMARC’s newly published report, titled “Cerium Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of cerium pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Explore the factors influencing cerium prices, including supply-demand dynamics, China's market dominance, technological advancements, and environmental regulations. Understand how geopolitical strategies, trade policies, and efforts to diversify supply chains impact this rare earth metal's market pricing.

This statistic shows the annual price of cerium oxide on a free on board china basis from 2009 to 2010. In 2009, the price was 3.88 U.S. dollars per kilogram. The Chinese Ministry of Commerce imposed export quotas for rare earth elements in 2010 and 2011.

Statistics illustrates monthly prices of compounds, inorganic or organic (excluding cerium), of rare-earth metals, of yttrium, scandium or of mixtures of these metals in Zimbabwe from January 2019 to February 2025.

Snapshot img

Rare Earth Metals Market Size 2025-2029

The rare earth metals market size is forecast to increase by USD 3.78 billion at a CAGR of 9.1% between 2024 and 2029.

Rare earth metals, including neodymium, play a crucial role in various industries, particularly consumer electronics and clean energy technologies. The increasing demand for electronic appliances and personal equipment, such as smartphones and laptops, fuels the market growth. Additionally, the expansion of wind turbines and hybrid electric vehicles (HEVs) reliant on permanent magnets made of metals contributes to market development. However, production capacity constraints and the emergence of alternative suppliers pose challenges to market growth. Furthermore, demand-supply imbalances and the rise of substitutes, such as samarium-cobalt and aluminum-nickel magnets, may impact the market dynamics. Neodymium, a key metal, is extensively used In the production of magnets for various applications, including motors, generators, and actuators in consumer electronics and clean energy technologies.

What will be the Size of the Rare Earth Metals Market During the Forecast Period?

Request Free Sample

The market encompasses 17 chemically similar elements, including neodymium, praseodymium, dysprosium, terbium, yttrium, and their lanthanide counterparts cerium, erbium, europium, gadolinium, lanthanum, promethium, samarium, and terbium. These elements, located In the periodic table's lanthanide series, are essential for various applications due to their unique magnetic, catalytic, and luminescent properties. Rare earth metals are primarily used In the production of rare-earth magnets for wind turbines, as well as in catalyst systems and other high-tech industries. The earth's crust contains concentrated deposits of these elements, with China being the dominant supplier. Market dynamics are influenced by supply and demand factors, with increasing demand driven by the growing renewable energy sector and expanding technological applications. The market is expected to continue growing, driven by the ongoing global transition towards sustainable energy and the expansion of high-tech industries.

How is this Rare Earth Metals Industry segmented and which is the largest segment?

The rare earth metals industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Permanent magnets
  Metal alloys
  Catalysts
  Polishing powder
  Others


Type

  Light rare earth elements
  Heavy rare earth elements
  Others


Product

  Cerium
  Dysprosium
  Erbium
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea
    Vietnam


  North America

    Canada
    US


  Europe

    Germany
    UK


  Middle East and Africa



  South America

By Application Insights

The permanent magnets segment is estimated to witness significant growth during the forecast period. Rare earth metals, a group of 17 chemically similar elements located in the periodic table, play a crucial role in various high-tech technologies and industries. These elements, including cerium, europium, gadolinium, terbium, dysprosium, erbium, holmium, lanthanum, neodymium, praseodymium, samarium, scandium, yttrium, and ytterbium, are essential for producing magnets, catalyst systems, clean energy technologies, glass and ceramics, phosphors, LED lamps, and batteries.
Aerospace, defense, automotive, electronics, renewable energy, and environmental industries heavily rely on these metals. China, with its concentrated deposits and dominant production capacity, is a significant player in the market. Rare earth magnets, primarily neodymium-iron-boron (NdFeB) and samarium-cobalt, are used extensively in military technologies, consumer electronics, electric vehicles, and other applications. The environmental impacts of rarth mining and the geopolitical factors influencing their supply chain are crucial considerations for the industry.

Get a glance at the market report of share of various segments Request Free Sample

The Permanent magnets segment was valued at USD 1.36 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 74% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Request Free Sample

The market in Asia Pacific is experiencing significant growth due to increasing demand from the aerospace, automotive, and electronics industries. These metals, consisting of 17 chemically similar elements including cerium, dysprosium, erbium, europiu

136 Global import shipment records of Cerium Metal with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

24 Global import shipment records of Cerium Oxide with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

The SADC ferro-cerium and pyrophoric alloys market declined slightly to $270M in 2024, approximately mirroring the previous year. Over the period under review, consumption saw resilient growth. Over the period under review, the market hit record highs at $286M in 2021; however, from 2022 to 2024, consumption stood at a somewhat lower figure.

1283 Global import shipment records of Cerium Chloride with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

In 2023, approx. 36 tons of ferro-cerium and pyrophoric alloys were imported into Kenya; with an increase of 7,026% compared with the year before.

Credit report of Cerium Optical Products contains unique and detailed export import market intelligence with it's phone, email, Linkedin and details of each import and export shipment like product, quantity, price, buyer, supplier names, country and date of shipment.

The Russian ferro-cerium and pyrophoric alloys market reduced slightly to $125M in 2024, approximately reflecting the previous year. In general, consumption recorded a mild decline. Ferro-cerium and pyrophoric alloys consumption peaked at $147M in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

Statistics illustrates prices of cerium compounds in Egypt from 2007 to 2024.

Statistics illustrates monthly prices of ferro-cerium and pyrophoric alloys in San Marino from January 2019 to February 2025.

The Canadian ferro-cerium and pyrophoric alloys market rose markedly to $3.5M in 2024, surging by 7.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern.

The Puerto Rican ferro-cerium and pyrophoric alloys market totaled less than $X in 2021, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern.

In August 2024, the average ferro-cerium and pyrophoric alloys import price amounted to $62,753 per ton, dropping by -3.3% against the previous month.

The Irish ferro-cerium and pyrophoric alloys market surged to $12M in 2024, growing by 196% against the previous year. Over the period under review, consumption continues to indicate a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

The Latin American ferro-cerium and pyrophoric alloys market contracted modestly to $955M in 2024, dropping by -2.2% against the previous year. The total consumption indicated a notable expansion from 2012 to 2024: its value increased at an average annual rate of +4.2% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +2.1% against 2022 indices.