The neodymium market is segmented by application (magnets, catalysts, glass and ceramics, and other applications), end-user industry (automotive, electrical and electronic, wind energy, and other end-user industries), and geography (Asia-Pacific, North America, Europe, South America, the Middle East, and Africa). The report offers market size and forecasts for neodymium in revenue (USD million) for all the above segments.

Neodymium rose to 742,500 CNY/T on December 1, 2025, up 5.32% from the previous day. Over the past month, Neodymium's price has risen 9.19%, and is up 43.90% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Neodymium Rare Earth - values, historical data, forecasts and news - updated on December of 2025.

The global Neodymium Market size is expected to reach USD 9.24 Billion in 2032 registering a CAGR of 12.3% Discover the latest trends and analysis on the Neodymium Market. Our report provides a comprehensive overview of the industry, including key players, market share, growth opportunities, and mor...

The size of the Neodymium Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 15.00% during the forecast period. Recent developments include: February 2023: MP Materials and Sumitomo Corporation entered into an agreement to diversify and strengthen rare earth supplies in Japan. Under the agreement, Sumitomo Corporation becomes the exclusive distributor of neodymium and praseodymium (NdPr) oxide produced by MP Materials., November 2022: Arafura Resources Limited signed a supply deal with South Korea's Hyundai Motor Co. and its unit Kia Corp. to supply up to 1,500 metric tons of neodymium-praseodymium (NdPr) oxide per year. Under the agreement, the company will supply contract quantities of NdPr oxide over seven years., August 2022: Australia's Lynas Rare Earths Ltd. expanded capacity at its Western Australia-based Mt Weld mine, which has deposits of neodymium (Nd) and praseodymium (Pr). The company anticipated expansion work to begin by early 2023, with full operation planned for 2024., July 2022: Arafura Resources Limited and GE Renewable Energy signed a non-binding memorandum of understanding (MoU) to jointly cooperate in the establishment of a sustainable supply chain for neodymium and praseodymium (NdPr), which is central to the energy transition.. Key drivers for this market are: Rising Demand for Neodymium Magnets from Wind Energy and Electric Vehicle Industries, Other Drivers. Potential restraints include: Availability of Less-Expensive Substitutes, Other Restraints. Notable trends are: Automotive Segment to Dominate the Market.

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Neodymium (NdFeB) Magnets Market Size 2025-2029

The neodymium (ndfeb) magnets market size is forecast to increase by USD 7.65 billion, at a CAGR of 8.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing focus on renewable energy sources and the surging demand for Electric Vehicles (EVs). These magnets are essential components in wind turbines and EV motors, making them indispensable in the transition towards cleaner energy solutions. However, the high cost of production poses a considerable challenge for market participants. The manufacturing process of NdFeB magnets involves the use of rare earth elements, which are scarce and expensive. This scarcity, coupled with the complex production process, contributes to the high production costs. To capitalize on the market opportunities, companies must explore cost-effective production methods and seek alternative sources for rare earth elements. Additionally, collaborations and partnerships with raw material suppliers and technology providers can help mitigate the production cost challenge and ensure a steady supply of raw materials. In summary, the market is poised for growth due to the increasing demand from renewable energy and EV sectors, but the high production costs present a significant challenge that requires innovative solutions and strategic partnerships.

What will be the Size of the Neodymium (NdFeB) Magnets Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleNeodymium magnets, also known as NdFeB magnets or rare-earth magnets, continue to dominate the magnetic market due to their exceptional magnetic properties and versatile applications. These magnets, primarily composed of neodymium, iron, and boron, exhibit high magnetic moment, strong magnetic field strength, and high energy product. The market dynamics of neodymium magnets are continually evolving, driven by advancements in technology and increasing demand across various sectors. In generator applications, neodymium magnets enhance the efficiency of wind turbines and electric motors. Magnetic bearings and magnetic levitation (maglev) systems utilize these magnets for their ability to support loads without physical contact, ensuring smooth operation and reducing wear and tear. Hall effect sensors and magnetic moment sensors benefit from the magnetic properties of neodymium magnets, enabling precise measurement and control in various industries. Quality control measures, such as hysteresis loop analysis and magnetic flux leakage detection, ensure the consistency and reliability of these magnets. Neodymium magnets find extensive use in consumer electronics, automotive applications, and medical devices. Their temperature stability makes them suitable for data storage systems and waste management applications. In addition, they are used in magnetic separation processes, magnetic shielding, and precision machining. The magnetic properties of neodymium magnets, including their high magnetic field strength and magnetic flux density, make them essential in motor applications and magnetic field sensors. Furthermore, their environmental impact and manufacturing processes, such as powder metallurgy and injection molding, continue to be areas of research and development. The supply chain for neodymium magnets is complex, with raw materials sourced from various regions and subject to price volatility. Bonded NdFeB magnets and sintered NdFeB magnets cater to different market needs, with the former offering better dimensional stability and the latter providing higher energy product. As the market for neodymium magnets continues to grow and evolve, the demand for advanced magnetic materials, manufacturing techniques, and quality control measures will persist. The ongoing research and development in this field will undoubtedly lead to new applications and innovations, further solidifying the importance of neodymium magnets in various industries.

How is this Neodymium (NdFeB) Magnets Industry segmented?

The neodymium (ndfeb) magnets 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. TypeSinteredBondedEnd-userAutomotiveElectronicsPower generatorsMedical industryOthersGeographyNorth AmericaUSCanadaEuropeFranceGermanyUKAPACAustraliaChinaIndiaJapanSouth KoreaRest of World (ROW)

By Type Insights

The sintered segment is estimated to witness significant growth during the forecast period.Neodymium magnets, specifically sintered NdFeB magnets, are renowned for their magnetic properties and efficiency in various industries. Manufactured through the process of compressing and heating a mixture of NdFeB, iron, and boron

The price of the rare earth oxide neodymium oxide was 49,763 U.S. dollars per metric ton in 2020. By 2030, the price of neodymium oxide is expected to increase to 45,500 U.S. dollars per metric ton.

According to Cognitive Market Research, the global neodymium market size will be USD 6240 million in 2025. It will expand at a compound annual growth rate (CAGR) of 5.60% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1560.00 million in 2025 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1310.40 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 2745.60 million in 2025 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 237.12 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2025 to 2033.
Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 249.60 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.1% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 137.28 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2025 to 2033.
Catalysts is the fastest growing segment of the neodymium industry

Market Dynamics of Neodymium Market

Key Drivers for Neodymium Market

Expanding Electric Vehicle (EV) Business to Boost Market Growth

The most significant driver propelling the neodymium industry is the rapidly expanding electric vehicle (EV) sector. As agencies throughout the world work to reduce greenhouse gas emissions, the automobile industry is quickly moving through electric and hybrid cars. Because neodymium magnets can produce massive magnetic fields with excellent efficiency, they are crucial parts of these vehicles' electrical motor networks. Demand is rising as a result of this shift, and advancements in magnet technology are also being made to improve efficiency and reduce expenses. Consequently, the demand for neodymium is expanding because of the need for electric automobiles. For instance, in February 2025, MP Materials and General Motors established an alliance to create an entirely managed rare earth magnet distribution system in the United States. With a steady manufacturing ramp, MP Materials will use GM's Ultium Services to provide rare earth elements, metal, and completed magnets made in the United States for the electric motors found in the GMC Hummer electric vehicles, Chevrolet Silverado EV, and over a dozen other models.

https://mpmaterials.com/articles/general-motors-and-mp-materials-enter-long-term-supply-agreement-to-scale-rare-earth-magnet-sourcing-and-production-in-the-us/

Increased Need for Electrical Gadgets to Boost Market Growth

The neodymium industry is expanding because of the growing need for portable electronics, including tablets, laptops, and cell phones. Any appliance that enables tracking offerings, digital interaction, or remote computing is considered an electronic device. Neodymium magnets are frequently used in transducers for electronic devices, including laptops, computers, and smartphones. In order to provide powerful sound in a tiny enclosure, they are made to be tiny and lightweight. Thus, the neodymium market is expanding because of the rising demand for electronic gadgets, including laptops, tablet computers, and handsets.

Restraint Factor for the Neodymium Market

Price Fluctuation for Raw Materials, Will Limit Market Growth

One significant barrier is the restricted supply and variable costs of rare earth materials, such as neodymium. Furthermore, sustainability concerns related to rare earth mineral extraction and being processed, such as the creation of hazardous waste and water contamination, may result in more stringent laws and higher production costs. Furthermore, the energy-intensive process of producing rare earth metals increases greenhouse gas emissions, exacerbating worries about global warming. Users and authorities are now paying more attention to these effects and are calling for stronger environmental regulations and sustainable mining methods. These problems can make it more difficult for producers to sustain an adequate inventory of neodymium magnets and impede the expansion of the market.

Market Trends in Neodym...

The size of the Neodymium Market market was valued at USD 2.66 Billion in 2023 and is projected to reach USD 4.01 Billion by 2032, with an expected CAGR of 6.04% during the forecast period. Recent developments include: , The neodymium market is projected to reach USD 4.5 billion by 2032, exhibiting a CAGR of 6.04% during the forecast period (2024-2032). The growing demand for neodymium magnets in electric vehicles, wind turbines, and consumer electronics is driving market growth. Additionally, government initiatives to promote clean energy technologies are expected to fuel demand for neodymium in the coming years.Recent news developments in the neodymium market include the announcement by China's largest rare earth producer, China Northern Rare Earth Group, of plans to invest USD 1.2 billion to expand its neodymium production capacity. The company aims to meet the increasing demand for neodymium from the electric vehicle and renewable energy sectors.Furthermore, Molycorp, a leading producer of rare earth materials, has signed a long-term supply agreement with General Motors to provide neodymium for the automaker's electric vehicle production. This deal highlights the growing importance of neodymium in the automotive industry., Neodymium Market Segmentation Insights, Neodymium Market-Grade Outlook. Key drivers for this market are: Electric vehicle demands Renewable energy expansion, medical applications growth; Aerospace industry advancements Consumer electronics growth.. Potential restraints include: Increasing Demand for Electric VehiclesGrowing Adoption of Renewable Energy SystemsFluctuating Raw Material PricesGovernment Regulations and SupportTechnological Advancements in Magnet Production.

Neodymium Market size was valued at USD 2.82 billion in 2022 and is expected to register a revenue CAGR of 7.8% during the forecast period.

The neodymium oxide market, currently valued at $305 million in 2025, is projected to experience robust growth, driven by increasing demand across diverse applications. The 7.5% CAGR indicates a significant expansion over the forecast period (2025-2033), reaching an estimated value exceeding $600 million by 2033. Key drivers include the burgeoning renewable energy sector, particularly wind turbines and electric vehicles, which rely heavily on neodymium-based permanent magnets for efficient operation. The electronics industry also contributes significantly, with neodymium oxide utilized in various components like high-performance speakers and precision instruments. Further growth is fueled by advancements in material science leading to improved magnet performance and efficiency, as well as the expansion of applications into emerging technologies like advanced robotics and medical imaging. Segmentation analysis reveals that the glass and ceramic colorant applications represent a substantial portion of the market, while the high-purity 5N grade commands premium pricing. The geographical distribution shows strong presence in Asia Pacific, particularly China, which is a major producer and consumer of rare earth elements, followed by North America and Europe, with growing demand anticipated from developing economies in other regions. Competitive dynamics are shaped by a relatively concentrated landscape, with prominent players such as China Minmetals Rare Earth and other major Chinese companies holding significant market shares. While China dominates the supply chain, diversification efforts by other nations are underway to enhance supply security and reduce reliance on a single source. However, environmental regulations and sustainable sourcing practices are emerging as significant factors that influence the market dynamics and will likely shape future investment and production strategies. The continued growth of green technologies will ultimately shape the future trajectory of the neodymium oxide market, necessitating further research into sustainable mining practices and the exploration of alternative materials to ensure long-term supply chain stability.

The Neodymium Market size was valued at USD 5.52 USD Billion in 2023 and is projected to reach USD 7.92 USD Billion by 2032, exhibiting a CAGR of 5.3 % during the forecast period. Recent developments include: February 2023: MP Materials Corp. and Sumitomo Corporation are undergoing an agreement. The agreement was aimed at strengthening and diversifying the supply of rare earth in Japan. As per the agreement, Sumitomo Corporation works as the distributor of MP Materials., December 2022: Australian Strategic Materials Ltd entered an agreement with the Vietnam Rare Earth Company (VTRE) and Chungcheongbuk Province in Korea. The agreement would help the company to increase market share across the globe., September 2022: KSM Metals Co., Ltd (a subsidiary of Australian Strategic Materials (ASM)), entered an agreement (Sales Agreement) with Korean company NS World Co., Ltd for the sale of neodymium praseodymium metal produced at its Korean Metals Plant., February 2022: IREL (India) Limited renewed its agreement with M/s. Toyota Tsusho Corporation, Japan and M/s. Toyotsu Rare Earths (India) Pvt. Ltd. Such a development strategy adopted by the company helps boost the Rare Earths refining and further downstream activities within the country. , December 2021: MP Materials Corp. and General Motors entered an agreement to supply rare earth materials. The supply chain agreement would help the company enhance its global presence.. Key drivers for this market are: Rising Demand for NdFeB across Various Industries such as Automotive and Electronics to Drive the Market Growth. Potential restraints include: Fluctuating Product Prices to Hamper Market Growth. Notable trends are: Rising Demand from EV Industry due to Rising Environmental Issues Creates New Market Opportunities .

Explore the dynamic Neodymium (Nd) market forecast from 2025-2033. Discover key growth drivers like electric vehicles & renewable energy, leading companies, and regional market trends.

Global Neodymium Rare Earth Magnets market size 2025 was XX Million. Neodymium Rare Earth Magnets Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

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Neodymium Market Size 2024-2028

The neodymium market size is forecast to increase by USD 1.51 billion at a CAGR of 8.09% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. The increasing focus on renewable energy is driving the demand for neodymium magnets, which are essential components in wind turbines and electric vehicles. Key trend shaping the market is the rising demand for electric vehicles, driven by both government policies and consumer preferences for sustainable transportation.
Additionally, stricter regulations on neodymium magnets, particularly in the automotive sector, are contributing to market expansion by ensuring their safe and efficient use. These factors are strengthening market confidence and accelerating demand. Looking ahead, the market is set for steady growth, propelled by these trends and the growing emphasis on sustainable energy solutions.

What will be the Neodymium Market Size During the Forecast Period?

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The market, primarily driven by the demand for Neodymium Ferrous Boron (NdFeB) magnets, has experienced significant growth in recent years. NdFeB magnets, a type of permanent magnet made from neodymium, iron, and boron, are essential components in various industries, including electric vehicles (EVs) and wind energy. In the EV sector, Neodymium is used in brushless DC motors, while in wind energy, it is utilized in generators and wind turbine components. Rare earth elements, including neodymium oxide, are indispensable in the production of NdFeB magnets. The electric vehicle industry and wind energy-related applications account for a substantial portion of the market.
Notable applications include Neodymium-Iron-Boron magnets in EV traction motors, hard disk drives, robotics, wearable devices, and offshore wind farms, such as the Macintyre Wind Farm in Queensland. As the world transitions toward carbon-neutral energy sources, the demand for Neodymium is expected to increase further. Neodymium is also used in permanent magnets for DC motors and wind power generators. Companies like General Motors are investing heavily in Neodymium-based technologies for their EVs. Overall, the market is poised for continued growth, driven by the increasing adoption of alternative energy sources and the expanding electric vehicle industry

How is this Neodymium Industry segmented and which is the largest segment?

The neodymium industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Metal
  Compound


Application

  Automotive
  Electrical and electronics
  Wind energy
  Others


Geography

  APAC

    China
    Japan
    South Korea


  North America

    US


  Europe

    Germany


  South America



  Middle East and Africa

By Type Insights

The metal segment is estimated to witness significant growth during the forecast period.

The market encompasses the utilization of neodymium in its metallic form, primarily for the production of neodymium-iron-boron magnets. These magnets offer strong magnetic fields and are indispensable in various industries and applications. Neodymium magnets are significantly employed In the automotive sector, particularly in electric and hybrid vehicles. The escalating demand for electric vehicles, especially in emerging economies like China, is projected to surge due to the global shift towards sustainable transportation. According to the International Energy Agency (IEA), approximately 8.1 million new electric cars were registered in 2023, representing a 35% increase from 2022. This trend is anticipated to boost the demand for neodymium magnets, which are essential components in the manufacturing of electric motors for wind energy-related applications, including onshore projects like the MacIntyre Wind Farm in Queensland and offshore wind farms. The transition towards carbon-neutral energy sources is further expected to fuel the market growth during the forecast period.

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The Metal segment was valued at USD 1.74 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 87% 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.

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The market in Asia Pacific (APAC) is experiencing significant growth due to the increasing demand for high-performance magnets in various industries, including automotive, electronics, energy, and healthcare. AP

The global Neodymium (Nd) market is poised for significant expansion, projected to reach a substantial market size of approximately USD 5,500 million by 2025. This growth trajectory is underpinned by a robust Compound Annual Growth Rate (CAGR) of roughly 7.5%, indicating sustained demand and innovation within the sector throughout the forecast period ending in 2033. The primary driver for this upward trend is the escalating demand for high-performance permanent magnets, which are indispensable components in a wide array of advanced technologies. Key applications include electric vehicles (EVs), wind turbines, consumer electronics, and defense systems, all of which are experiencing rapid development and adoption. The ongoing global shift towards sustainable energy solutions and electrification further amplifies the need for neodymium-based magnets, cementing its critical role in future technological advancements and economic growth. Further analysis reveals that the Neodymium market is characterized by a dynamic interplay of drivers and restraints. Beyond the dominant permanent magnet application, significant growth is also observed in segments like catalysts and neodymium glasses, driven by specialized industrial needs and emerging applications. However, the market faces certain challenges, including price volatility of rare earth elements, geopolitical supply chain complexities, and increasing environmental regulations concerning extraction and processing. Despite these hurdles, the industry is witnessing innovative trends such as advancements in recycling technologies for rare earth materials and the development of alternative magnet compositions, which could mitigate some of the current limitations. Geographically, Asia Pacific, particularly China, continues to be a dominant force in both production and consumption, but other regions are actively investing in diversifying supply chains and fostering domestic production capabilities, suggesting a more balanced global landscape in the coming years.

Neodymium Magnet Market size was valued at USD 3.09 Billion in 2024 and is projected to reach USD 4.34 Billion by 2031, growing at a CAGR of 4.78% from 2024 to 2031.

Global Neodymium Magnet Market Drivers

Rising Demand in Consumer Electronics: Neodymium magnets, with their superior strength-to-weight ratio, are the preferred choice for various consumer electronics like smartphones, laptops, hard drives, and speakers. This ongoing demand from the consumer electronics industry is a major driver for the Neodymium Magnet Market.

Growth of the Electric Vehicle (EV) Industry: The permanent magnets used in electric vehicle motors are often Neodymium-Iron-Boron (NdFeB) magnets. As the EV industry experiences explosive growth due to environmental concerns and government initiatives, the demand for Neodymium magnets is expected to rise significantly.

Expansion of Wind Energy Applications: Wind turbines utilize Neodymium magnets in their generators to convert wind energy into electricity. The increasing focus on renewable energy sources and the expansion of wind farms worldwide are driving the demand for Neodymium magnets in this sector.

Focus on Miniaturization and Performance: Modern electronic devices prioritize miniaturization while maintaining high performance. Neodymium magnets' compact size and superior strength make them ideal for these applications, contributing to market growth.

Technological Advancements and Efficiency Improvements: Research and development in the field of Neodymium magnets are leading to the creation of even stronger and more efficient magnets with lower production costs. These advancements are making Neodymium magnets a more attractive option for various applications.

Growing Automation and Robotics: The increasing automation of manufacturing processes and the development of robots utilize Neodymium magnets in their motors and actuators. The expansion of automation and robotics is a potential growth driver for the Neodymium Magnet Market.

Medical Equipment Applications: Neodymium magnets are finding use in various medical equipment due to their compact size and strong magnetic fields. Applications include MRI machines, hearing aids, and surgical instruments, creating additional market demand.

Supply Chain Concerns and Geopolitical Tensions: China is a dominant player in the production of rare earth elements, including Neodymium. Geopolitical tensions and concerns about supply chain disruptions can influence market dynamics and potentially drive prices higher.

Focus on Sustainable Practices and Recycling: There's a growing focus on sustainable practices in the Neodymium magnet industry. Recycling existing magnets and exploring alternative rare earth elements are crucial aspects for long-term market stability and environmental responsibility.

Learn more about the Neodymium Magnet Market Report by Market Research Intellect, which stood at USD 5.6 billion in 2024 and is forecast to expand to USD 10.2 billion by 2033, growing at a CAGR of 8.2%.Discover how new strategies, rising investments, and top players are shaping the future.

The global neodymium magnet market is experiencing robust growth, projected to reach $24.37 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 10.3% from 2025 to 2033. This significant expansion is driven primarily by the burgeoning electric vehicle (EV) sector, where neodymium magnets are crucial components in electric motors. The increasing demand for EVs globally, coupled with government incentives promoting sustainable transportation, fuels this market segment's rapid growth. Furthermore, the expanding renewable energy sector, particularly wind energy, necessitates high-performance magnets for efficient energy generation, contributing substantially to market expansion. Growth is also seen in other applications, including consumer electronics, industrial machinery, and aerospace, although at a comparatively slower rate. While supply chain constraints and price volatility of raw materials like neodymium and praseodymium pose challenges, technological advancements leading to improved magnet performance and reduced reliance on rare-earth elements are mitigating these restraints. The market is segmented by magnet type (sintered, bonded, hot-pressed) and application, offering various opportunities for specialized players. Key players like Hitachi Metals Group, TDK, and Shin-Etsu are strategically positioning themselves to capitalize on the market's expansion through innovation and expansion into new geographic markets. The diverse applications of neodymium magnets across various sectors ensure continued market growth throughout the forecast period. While competition among established and emerging players is intense, the focus on developing high-performance, cost-effective magnets, and exploring alternative materials to reduce reliance on rare-earth elements will shape the competitive landscape. Regional variations in market growth exist, with Asia Pacific, particularly China, holding a dominant position due to substantial manufacturing capabilities and high demand for EVs and other magnet applications. North America and Europe, while exhibiting strong growth, are expected to see a comparatively slower increase compared to the Asia Pacific region. The market's future hinges on continued technological innovation, sustainable sourcing of raw materials, and the sustained growth of sectors reliant on high-performance magnetic technologies.

The global Neodymium Market size is projected to rise from USD 3.03 billion in 2024 to USD 11.94 billion by 2034, representing a CAGR above 14.7% for the 2025–2034 forecast period. Dominant industry players include ARAFURA RESOURCES, China Rare Earth Holdings Limited, Lynas Rare Earths., MP MATERIALS, Peak Rare Earths, Rainbow Rare Earths.