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 Rare Earth Elements Market Report Segments the Industry by Product Type (Light Rare Earth Elements and Heavy Rare Earth Elements), Element (Cerium, Neodymium, and More), Application (Catalysts, Ceramics, and More), End-Use Industry (Clean Energy, Consumer Electronics, and More), and Geography (Asia-Pacific, North America, Europe, and More). The Market Forecasts are Provided in Terms of Volume (tons).

As of the end of 2024, the estimated average price for terbium oxide at a minimum purity of 99.99 percent stood at *** U.S. dollars per kilogram. This figure represents a steep decrease compared to the price in previous years.

Scandium oxide had the highest average domestic price in China of any rare earth oxide as of March, 2024, at 6,200 yuan per kilogram. On the other side of the scale, Lanthanum oxide had the lowest average price of any rare earth in China at that time, with an average domestic price of 4,000 yuan per metric ton.

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.

The market is experiencing significant growth due to the increasing demand for electronic appliances and personal equipment, driven by global consumer trends and technological advancements. This demand is further fueled by the expansion of production capacities and the emergence of alternative suppliers, which are aiming to reduce dependence on traditional sources. However, market growth is not without challenges. Demand-supply imbalances persist due to the complex and often unpredictable nature of rare earth metal mining and production. Moreover, the rise of substitutes, such as recycling and the development of new technologies, is posing a threat to market players. Companies seeking to capitalize on market opportunities must stay abreast of these trends and navigate challenges effectively by investing in research and development, exploring alternative supply chains, and collaborating with industry partners to ensure a stable and sustainable supply of rare earth metals.

What will be the Size of the Rare Earth Metals Market during the forecast period?

Request Free SampleRare earth metals, a group of 17 elements on the periodic table, play a crucial role in various industries, particularly in consumer equipment, catalyst systems, and green technology. These metals are essential for catalyst systems in industrial processes and are key components in magnets used in applications such as permanent magnets in gadolinium magnets and neodymium magnets. The demand for rare earth metals is driven by their use in electric vehicles, electronic appliances, and battery production. The supply chain for these metals is complex, with a significant portion extracted from concentrated deposits. However, resource scarcity and the environmental impact of metal extraction have led to increased focus on recycling efforts. Industrial uses of rare earth metals extend beyond magnets, with applications in battery production, wind turbines, and various other industries. The market dynamics for rare earth metals are influenced by production capacities, demand for specific metals, and the challenges of extracting them from the earth's crust. Catalyst systems, magnet applications, and green technology are just a few areas where rare earth metals contribute significantly. As the world transitions to more sustainable energy sources and electric vehicles become more prevalent, the demand for these metals is expected to grow.

How is this Rare Earth Metals Industry segmented?

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. ApplicationPermanent magnetsMetal alloysCatalystsPolishing powderOthersTypeLight rare earth elementsHeavy rare earth elementsOthersProductCeriumDysprosiumErbiumOthersGeographyAPACChinaIndiaJapanSouth KoreaVietnamNorth AmericaUSCanadaEuropeGermanyUKMiddle East and AfricaSouth America

By Application Insights

The permanent magnets segment is estimated to witness significant growth during the forecast period.Rare earth metals, primarily including neodymium, pradymium, dysprosium, gadolinium, terbium, and samarium, are essential components for producing rare earth magnets. These magnets are integral to various high-tech technologies, such as military equipment, consumer electronics, automotive industries, and renewable energy solutions like wind turbines. Neodymium oxide, a rare earth oxide, is a significant component of Neodymium-iron-boron (NdFeB) magnets, which are widely used in applications ranging from audio and video components to automobiles and electric vehicles. China, as a leading consumer and supplier, dominates the market for NdFeB magnets and exports a substantial amount of these magnets. The environmental impacts of rare earth mining, including water contamination and habitat destruction, as well as air contamination, have raised concerns regarding the sustainability of this industry. However, the increasing demand for clean energy and renewable energy sources, such as LED lamps and wind turbines, necessitates the continued production and capacity expansion. Geopolitical factors and the concentration of rare earth deposits in specific regions contribute to supply chain complexities. Furthermore, rare earth magnets play a crucial role in catalyst systems, glass & ceramics, and various other industries. The evolving market dynamics and trends necessitate a comprehensive of the market and its implications on various industries.

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 inc

Central Asia, site of the historic Silk Road trade network, has long been a conduit for the movement of people, energy, and mineral resources between Europe and Asia. Once part of the former Soviet Union, this region was and continues to be an important producer of base and precious metals, rare metals (RM), including niobium, tantalum, and beryllium, and a past producer of rare earth elements (REE). The Tien Shan and Pamir Mountains regions, encompassing parts of Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, and Turkmenistan, are of significant interest for mineral exploration as these regions are thought to host substantial undeveloped and undiscovered resources of REE and RM. Based on this legacy, and as an emerging REE and RM producing region, the Central Asian countries are implementing mining sector reforms to create a more attractive investment environment for domestic and foreign mining interests. During the most recent increase in REE prices, beginning in 2009 and culminating in a dramatic price spike in 2011, much mineral exploration activity for REE was undertaken in Kazakhstan, Kyrgyzstan, and Tajikistan. In order to assess the mineral potential for REE in Central Asia, the U.S. Geological Survey began in 2012 compiling an inventory of REE-RM occurrences in that region. These occurrences range in development status from mineral showings to previously developed deposits. Completed in 2016, the inventory consists of 384 REE-RM occurrences, including 160 in Kazakhstan, 75 in Kyrgyzstan, 60 in Tajikistan, 2 in Turkmenistan, and 87 in Uzbekistan. The inventory dataset includes detailed information on location, mineral deposit type, geology, production, resources, and development status. Four important groups of REE-RM mineral deposit types were recognized: (1) carbonatite and alkaline igneous rock-related deposits; (2) pegmatite and skarn/greisen deposits; (3) weathered-crust deposits, including laterite, derived from weathering of other REE-RM mineral deposits; and (4) sediment-hosted uranium deposits. This inventory is released as a database in two formats, a Microsoft Excel workbook and an ESRI ArcGIS 10.5 point feature class dataset built from the Excel workbook. The Excel workbook also includes data field definitions, explanations of the terminology and abbreviations, and references.

According to Cognitive Market Research, the global rare earth metals market size will be USD 6324.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 13.50% from 2025 to 2033.

North America held the major market share for more than 37% of the global revenue with a market size of USD 2340.18 million in 2025 and will grow at a compound annual growth rate (CAGR) of 11.3% from 2025 to 2033.
Europe accounted for a market share of over 29% of the global revenue with a market size of USD 1834.19 million.
APAC held a market share of around 24% of the global revenue with a market size of USD 1517.95 million in 2025 and will grow at a compound annual growth rate (CAGR) of 15.5% from 2025 to 2033.
South America has a market share of more than 3.8% of the global revenue with a market size of USD 240.34 million in 2025 and will grow at a compound annual growth rate (CAGR) of 12.5% from 2025 to 2033.
Middle East had a market share of around 4% of the global revenue and was estimated at a market size of USD 252.99 million in 2025 and will grow at a compound annual growth rate (CAGR) of 12.8% from 2025 to 2033.
Africa had a market share of around 2.2% of the global revenue and was estimated at a market size of USD 139.15 million in 2025 and will grow at a compound annual growth rate (CAGR) of 13.2% from 2025 to 2033.
Neodymium oxide is the fastest growing segment of the rare earth metals market industry

Market Dynamics of Rare Earth Metals Market

Key Drivers for Rare Earth Metals Market

Government Initiatives for Resource Independence is Expected to Boost Market Growth

The rare earth metals market is increasingly driven by government initiatives aimed at achieving resource independence. Many countries, particularly the US, EU nations, India, and Japan are implementing policies to reduce reliance on Chinese exports, which dominate the global supply. These initiatives include funding domestic mining projects, investing in refining and recycling technologies, and forming strategic alliances for rare earth exploration. Governments are also supporting R&D in developing alternatives and more sustainable extraction methods. Such policies are strengthening local supply chains and stimulating demand for rare earth elements critical to clean energy, defence, and electronics sectors, thereby propelling market growth and fostering technological self-reliance in strategic industries. In March 2024, Australian Strategic Materials (ASM) formed a strategic partnership with global engineering company Bechtel Mining and Metals, Inc. (Bechtel) for its Dubbo Project in New South Wales (NSW). Bechtel will provide Front-End Engineering Design (FEED) services, a crucial step toward the final investment decision. This partnership strengthens ASM's position for new funding opportunities, including with a US government entity.

https://asm-au.com/strategic-partnership-delivers-benefits-for-dubbo-project/”

Advancements in Consumer Electronics to Boost Market Growth

The rare earth metals market is significantly driven by advancements in consumer electronics, which increasingly rely on these elements for performance and miniaturization. Rare earth metals such as neodymium, dysprosium, and terbium are critical components in high-performance magnets, speakers, vibration motors, and batteries used in smartphones, laptops, tablets, and wearables. As consumer demand grows for smarter, faster, and more compact devices, manufacturers are integrating rare-earth-based components to meet functional and design needs. Additionally, the shift toward energy-efficient electronics and high-resolution displays further boosts the demand for these materials. The constant innovation cycle in electronics ensures sustained growth in the rare earth metals market.

Restraint Factor for the Rare Earth Metals Market

Fluctuating Raw Material Prices Will Limit Market Growth

Fluctuating raw material prices act as a significant restraint in the rare earth metals market due to their impact on cost predictability and supply chain stability. These metals are often sourced from a limited number of countries, with China being the dominant supplier. Geopolitical tensions, export restrictions, and environmental regulations can disrupt supply and cause sharp price variations. Such volatility discourages investment in downstream applications and technologies relying on rare earth elements, such as magnets...

This statistic displays the price development of rare earth oxides globally from 2009 to 2013. In 2011, lanthanum oxide had a price of 98,757 U.S. dollars per metric ton. There are 17 rare earth elements and although they may be fairly abundant in the Earth's crust, often they occur at sparse intervals are are less economically exploitable.

Graph and download economic data for Import Price Index (Harmonized System): Inorganic Chemicals; Organic or Inorganic Compounds of Precious Metals, of Rare-Earth Metals, of Radioactive Elements or of Isotopes (IP28) from Dec 2024 to Aug 2025 about inorganic, chemicals, harmonized, imports, price index, indexes, price, and USA.

Discover the booming rare earth metal market forecast to 2033! This in-depth analysis reveals key trends, drivers, restraints, and regional market shares for neodymium, cerium, dysprosium, and other crucial elements. Explore the competitive landscape and future growth potential. Recent developments include: August 2022: Australia's Lynas Rare Earths Ltd unveiled a plan to expand capacity at its Western Australia-based Mt Weld mine having deposits of neodymium (Nd) and praseodymium (Pr). The company anticipates expansion work to begin by early 2023, with full operation planned for 2024., April 2022: Iluka Resources Ltd announced an investment worth USD 1.2 billion for developing the Eneabba Phase 3 rare earth refinery in Western Australia for the dedicated production of rare Earth oxides. The investment aims to make Iluka a strategic hub for the downstream processing of Australia's rare earth resources.. Key drivers for this market are: High Demand from Emerging Economies, Dependency of 'Green Technology' on Rare Earth Elements. Potential restraints include: High Demand from Emerging Economies, Dependency of 'Green Technology' on Rare Earth Elements. Notable trends are: Increasing Demand for Magnets.

Northern America's rare-earth compounds market reached 2.5M tons valued at $31.1B in 2024, with the United States dominating both production and consumption. The market is forecast to grow to 3M tons and $38.4B by 2035, driven by sustained demand despite decelerating growth rates.

According to Cognitive Market Research, the global rare earths market size will be USD 14280 million in 2025. It will expand at a compound annual growth rate (CAGR) of 7.80% 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 5283.60 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 4141.20 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 3427.20 million in 2025 and will grow at a compound annual growth rate (CAGR) of 10.5% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 542.64 million in 2025 and will grow at a compound annual growth rate (CAGR) of 8.5% 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 571.20 million in 2025 and will grow at a compound annual growth rate (CAGR) of 9.1% 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 314.16 million in 2025 and will grow at a compound annual growth rate (CAGR) of 8.1% from 2025 to 2033.
Glass is the fastest growing segment of the rare earths industry

Market Dynamics of Rare Earths Market

Key Drivers for Rare Earths Market

Increasing Proportion of Electric Automobiles to Boost Market Growth

The market for rare earth is expanding due in large part to the increasing number of electric automobiles. Mechanical combustion engines are no longer required since electric vehicles (EVs) use power that has been preserved in batteries or other energy storage devices. Rare earth metals, particularly magnets, and dysprosium, are employed in motors for electricity because of their outstanding durability, magnets, and magnetic qualities. For this reason, the demand for rare earth metals is expanding due to the increasing number of electrically powered automobiles. For instance, in October 2024, 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//

Technological Development to Boost Market Growth

The market for rare earth is driven by ongoing advancements in technologies and design. Because of the development of civilization and the expanding use of technology for commercial and industrial purposes, technological developments have been increasing. Thanks to the latest developments, rare earth elements may now be extracted from unusual sources such phosphate deposits, mining ash, and digital recyclables. Large undiscovered rare earth sources that were previously thought to be too costly or impossible to harvest can now be accessed thanks to these novel extraction techniques. Businesses are concentrating on creating these substitute extraction methods in order to lessen their effect on the environment and cut down on the price of obtaining rare earth metals. A more varied and reliable supply of rare earths might be made possible by these technologies as they develop and grow, which would spur market growth and lessen the need for conventional mining methods.

Restraint Factor for the Rare Earths Market

Negative Effects of Rare Earth Extraction on the Environment, Will Limit Market Growth

The market faces major ecological challenges as a result of rare earth extraction and manufacturing. Chemical evaporation, chemical treatment, and open-pit mining are some of the activities that frequently lead to contamination, habitat damage, and health hazards for the populations who surround them. The quality of the land, water, and air is threatened by the toxic byproducts they produce, such as radioactive debris and metallic pollutants. Furthermore, the energy-intensive process of producing rare earth metals increases greenhouse gas e...

Rare Earth Elements Market Outlook

According to our latest research, the global Rare Earth Elements (REE) market size reached USD 7.3 billion in 2024, demonstrating robust demand across various industries. The market is projected to grow at a CAGR of 8.1% from 2025 to 2033, reaching an estimated USD 13.7 billion by 2033. This growth trajectory is primarily fueled by the rising adoption of rare earth elements in high-growth sectors such as electric vehicles, renewable energy, and advanced electronics. As per our analysis, the marketÂ’s expansion is underpinned by technological advancements and the increasing need for sustainable materials in modern manufacturing processes.

The primary growth driver for the rare earth elements market is the surging demand for clean energy technologies, particularly permanent magnets used in wind turbines and electric vehicle motors. These magnets, predominantly composed of neodymium, praseodymium, and dysprosium, are critical for the efficiency and miniaturization of renewable energy systems. As governments worldwide intensify their focus on decarbonization and climate goals, the deployment of wind energy and electric vehicles is accelerating, thereby propelling rare earth consumption. Furthermore, the ongoing transition toward energy-efficient lighting and electronics, which rely on rare earth-based phosphors and catalysts, continues to bolster market growth.

Another significant growth factor is the rapid expansion of the global electronics and automotive industries. Rare earth elements such as cerium, lanthanum, and yttrium are essential in manufacturing display panels, batteries, and catalytic converters. The proliferation of consumer electronics, coupled with the automotive sectorÂ’s shift toward hybrid and electric vehicles, is driving up the demand for these elements. Additionally, the growing utilization of rare earths in emerging technologies such as robotics, drones, and advanced defense systems further amplifies market opportunities. As innovation cycles shorten and the push for miniaturization intensifies, rare earth elements remain indispensable for next-generation devices.

Supply chain diversification and strategic stockpiling are also influencing the rare earth elements marketÂ’s growth dynamics. Concerns over supply security, given the historical dominance of China in rare earth mining and processing, have prompted several countries to invest in domestic production and recycling initiatives. These efforts aim to mitigate supply risks and stabilize prices, fostering a more resilient and transparent rare earth supply chain. Governments and private stakeholders are increasingly collaborating to develop alternative sources and enhance processing technologies, which is expected to support the marketÂ’s steady expansion over the forecast period.

Lanthanum, a critical component in the rare earth elements market, plays a pivotal role in the development of advanced battery technologies. Its unique properties make it an ideal choice for use in nickel-metal hydride (NiMH) batteries, which are commonly found in hybrid vehicles. As the automotive industry continues to shift towards electrification, the demand for lanthanum is expected to surge. This element not only enhances the energy density of batteries but also contributes to their longevity and efficiency. The growing focus on sustainable energy solutions and the increasing adoption of hybrid vehicles underscore the importance of lanthanum in the future of clean transportation.

From a regional perspective, Asia Pacific continues to dominate the rare earth elements market, accounting for nearly 60% of global consumption in 2024. The regionÂ’s leadership is attributed to its robust manufacturing ecosystem, particularly in China, Japan, and South Korea, which are major hubs for electronics, automotive, and renewable energy industries. North America and Europe are also witnessing significant growth, driven by policy initiatives aimed at reducing dependence on imports and fostering local supply chains. Meanwhile, emerging markets in Latin America and the Middle East & Africa are gradually increasing their participation through exploration projects and strategic partnerships, contributing to the global marketÂ’s diversification and resilience.

The heavy rare earth elements (HREE) market is experiencing robust growth, driven by increasing demand across diverse sectors. While the precise market size for 2025 isn't provided, considering typical market sizes for related materials and a reasonable CAGR (let's assume a conservative 8% based on industry trends), a 2025 market value of approximately $5 billion is plausible. This signifies a substantial increase from previous years and points to a consistently expanding market over the coming decade. This growth is fueled primarily by the expanding applications of HREEs in high-strength permanent magnets, crucial for electric vehicles, wind turbines, and advanced electronics. Furthermore, the burgeoning green technologies sector further boosts demand, as HREEs are essential components in energy-efficient technologies. Key growth drivers also include advancements in materials science leading to improved HREE-based products and increasing government support for the development of sustainable and clean energy solutions. The forecast period (2025-2033) projects continued expansion at a CAGR of approximately 8%, potentially pushing the market value to over $10 billion by 2033. However, growth might be tempered by several factors. Supply chain vulnerabilities, particularly concerning sourcing from China, which dominates HREE production, pose a significant restraint. Price volatility and the environmental impact of mining and refining HREEs are additional challenges. Nevertheless, ongoing research and development efforts focused on improving extraction techniques and finding alternative sources are expected to mitigate these constraints, supporting sustained growth in the HREE market. The segmentation by application (magnets, catalysts, etc.) and individual elements (scandium, yttrium, etc.) will continue to evolve based on technological advancements and specific industry requirements.

As of 2024, China produced more than two thirds of the total global rare earth mine production. In a distant second place was the United States, accounting for a 11.6 percent share of the global rare earths production that year. In terms of rare earths production volume, China's production quota for rare earths amounted to 270,000 metric tons of rare earth oxide equivalent that year.

The average compounds of rare-earth metals import price stood at $8,898 per ton in February 2025, falling by -39.9% against the previous month.

Rare Earth Metal Recycling Market Outlook

The global rare earth metal recycling market size in 2023 is estimated at USD 1.5 billion, with a projected market value of USD 3.8 billion by 2032, reflecting a compound annual growth rate (CAGR) of 10.6%. This robust growth is primarily driven by increasing demand for sustainable practices, rapid advancements in recycling technologies, and heightened awareness of the environmental impact of rare earth metal extraction.

One of the significant factors fueling the growth of the rare earth metal recycling market is the rising demand for electronics and electric vehicles (EVs). As the world transitions towards more sustainable energy solutions, the need for rare earth materials, which are essential for manufacturing high-efficiency magnets, batteries, and other components, has surged. Consequently, the recycling of these materials becomes imperative to meet the growing demand while mitigating the environmental repercussions of mining. Additionally, government policies and incentives aimed at promoting environmental sustainability are propelling the market forward, encouraging businesses to adopt recycling practices.

Another driving force behind the growth of the rare earth metal recycling market is technological innovation. Advancements in recycling technologies, such as hydrometallurgical, pyrometallurgical, and electrochemical methods, have significantly improved the efficiency and cost-effectiveness of recycling processes. These innovations have not only enhanced the recovery rates of rare earth metals but also reduced the environmental footprint associated with their extraction. As a result, companies are increasingly investing in research and development to refine these technologies and expand their recycling capacities.

Moreover, the strategic importance of rare earth metals in various high-tech and defense applications is a key growth factor for the market. Rare earth elements are critical components in the production of advanced weaponry, communication systems, and other defense technologies. With geopolitical tensions and trade conflicts influencing the supply chain of these vital materials, countries are focusing on developing robust recycling infrastructures to ensure a steady supply. This strategic move not only secures access to essential materials but also helps in reducing dependency on foreign imports.

Regionally, the Asia Pacific holds a significant share in the rare earth metal recycling market, driven by rapid industrialization, an extensive electronics manufacturing base, and proactive government policies promoting recycling initiatives. North America and Europe are also notable markets, with growing investments in recycling technologies and stringent environmental regulations. Latin America and the Middle East & Africa, while currently smaller markets, are expected to witness substantial growth owing to emerging recycling infrastructures and increasing awareness about sustainable practices.

Source Analysis

The rare earth metal recycling market can be segmented by source into industrial waste, e-waste, end-of-life products, and others. Industrial waste represents a significant portion of the market, as industries generate substantial amounts of waste containing rare earth elements. Given the high concentration of rare earth metals in industrial waste, recycling from this source is both economically viable and environmentally beneficial. Companies are increasingly focusing on developing efficient methods to extract and recycle these metals from industrial by-products.

E-waste is another critical source of rare earth metals, with the proliferation of electronic devices worldwide. Electronics such as smartphones, laptops, and other gadgets contain rare earth elements that are essential for their functionality. As the lifespan of electronic devices decreases, the volume of e-waste generated rises, providing a rich source of recyclable rare earth metals. Recycling e-waste not only helps in recovering valuable materials but also addresses the environmental hazards associated with improper disposal of electronic products.

End-of-life products, including electric vehicles, wind turbines, and other technologies utilizing rare earth elements, represent a growing segment in the recycling market. The increasing adoption of EVs and renewable energy technologies has led to a higher turnover of these products, creating a significant opportunity for recycling. Companies are developing specialized techniques to efficiently dismantle and recover rare earth metals from these end-

Between 2020 and 2023, 70 percent of rare earth imports into the United States originated from China. Malaysia and Japan accounted for another 13 and 6 percent, respectively during that timeframe. Rare earth industry Rare earths include minerals such as scandium, yttrium, and lanthanides and range in abundance in their presence in the Earth’s crust. The problem is that they are dispersed and often it is difficult to find economically exploitable deposits. Rare earths are commonly used in a variety of industries and are essential in manufacturing cellphones, missile systems, and hybrid car batteries among others. China's rare earths industry China is the world's largest producer of rare earths by a large margin. Accordingly, many countries are dependent on rare earths imports from China to meet their needs, much like the United States. This dependency has caused some market volatility. In 2010, China announced a decrease in their rare earth quota and prices increased dramatically. Prices soared from 13.13 U.S. dollars per kilogram in the first quarter of 2010 to almost 60 U.S. dollars per kilogram at the end of October 2010. In 2015, the quota was abolished. However, during the scare, there was never a shortage and in fact, there is now a surplus of many of the minerals. In 2023, China's rare earths production amounted to a total of some 255,000 metric tons. As of 2023, the country was estimated to have about 44 million metric tons of rare earth oxides (REO) in reserves.

The Rare Earth Elements Marketsize was valued at USD 2,607.4 Kiloton in 2023 and is projected to reach USD XXX Kiloton by 2032, exhibiting a CAGR of 5.1 % during the forecast period. Key drivers for this market are: Increasing Adoption of Industrial Fabrics in the Auto Sector to Propel Market Growth. Potential restraints include: Fluctuating Prices of Rare Earth Elements to Hinder Growth.

Discover the latest trends in the Middle East rare-earth metals market as demand for compounds of yttrium, scandium, and mixtures of these metals continue to rise. Market performance is anticipated to grow at a CAGR of +2.7% in volume and +2.9% in value from 2024 to 2035, reaching 746K tons and $20.9B respectively by the end of 2035.