In 2030, the price of lanthanum oxide is forecast to be ***** 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 less economically exploitable.

Neodymium traded flat at 597,500 CNY/T on July 22, 2025. Over the past month, Neodymium's price has risen 9.13%, and is up 32.04% 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 July of 2025.

This statistic depicts the prices of selected rare earth oxides from 2008 to 2013, in U.S. dollars per kilogram. In 2008, neodymium cost ** U.S. dollars per kilogram. Rare earth supply in the United States are largely dependent on imports, primarily from China. Rare earth elements today are commonly used in automobile catalysts and petroleum refining catalysts, televisions, magnets, batteries, and medical devices.

Rare earths

A rare earth element or metal includes the fifteen lanthanides as well as scandium and yttrium. These elements are quite common within the Earth’s crust, however, they tend to be widely distributed due to their properties. There was approximately *** million metric tons of rare earth reserves worldwide as of 2013, with ** million metric tons located in China alone. Rare earth oxides in particular are usually an opaque black or dark brown color and often streaked with brown. They are also often coated in an earthy surface alteration which is part of the mineral.

Rare earth metals are often used within the nuclear industry for practical and experimental applications. They can also be used for ceramics, dyes, lasers, and electric components. In 2011, ** percent of mined rare earth material was used in magnets and metal alloys each, catalysts accounted for another ** percent of the global application share. Molycorp, Inc of the United States and Iluka Resources Ltd, headquartered in Australia, are among the world’s largest rare earth companies, totaling *** million U.S. dollars and around two billion U.S. dollars, respectively, in market capitalization as of *************.

Rare-earth metal prices were compiled from the late 1950s and early 1960s through 1994. Although commercial demand for rare-earth metals began in 1908, as the alloy mischmetal, commercial quantities of a wide range of individual rare-earth metals were not available until the late 1950s. The discovery of a large, high-grade rare-earth deposit at Mountain Pass, CA, USA, in 1949, was significant because it led to the production of commercial quantities of rare-earth elements that reduced prices and encouraged wider application of the materials. The availability of ore from Mountain Pass, and other large rare-earth deposits, especially those in Australia and China, has provided the world with abundant resources for rare-earth metal production. This availability, coupled with improved technology from Government and private-sector metallurgical research, has resulted in substantial decreases in rare-earth metal prices since the late 1950s and early 1960s. Price series for the individual rare-earth metals (except promethium) are quoted on a kilogram basis from the late 1950s and early 1960s through 1994. Prices are given in US dollars on an actual and constant dollar basis. Industrial and economic factors affecting prices during this time period are examined.

The Rare Earth Metals 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, South America, Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (tons).

The Asia-Pacific rare earth metal market reduced to $6.7B in 2024, dropping by -3.1% against the previous year. The total consumption indicated a slight increase from 2012 to 2024: its value increased at an average annual rate of +1.5% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -0.6% against 2021 indices.

The South Korean rare earth metal market skyrocketed to $9.6M in 2024, increasing by 44% 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, however, saw a pronounced decline.

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.

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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.

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The Permanent magnets segment was valued at USD 1.36 billion in 2

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.

The CIS rare earth metal market amounted to $161M in 2024, almost unchanged from the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the peak level at $165M in 2017; however, from 2018 to 2024, consumption failed to regain momentum.

The global rare earth metals market size is predicted to reach USD 6.2 billion in 2024. It is anticipated to grow at a CAGR of 10.1% during the forecast period to reach a value of USD 16.1 billion by 2034. The market is projected to witnesses a Y-o-Y growth of 9.1% in 2024.

Semi-annual Market Update

Country-wise Insights

Category-wise Insights

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 Jun 2025 about inorganic, chemicals, harmonized, imports, price index, indexes, price, and USA.

The Nigerien rare earth metal market expanded significantly to $880K in 2024, increasing by 15% against the previous year. Overall, consumption, however, showed a perceptible curtailment. Over the period under review, the market reached the maximum level at $1.2M in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

Rare Earth Metal Material Market Outlook

The global rare earth metal material market size was valued at approximately USD 5.3 billion in 2023 and is projected to reach around USD 12.8 billion by 2032, exhibiting a remarkable CAGR of 10.2% during the forecast period. The market's growth is propelled by increasing demand from various end-use sectors, technological advancements, and the essential role of rare earth metals in green energy solutions.

The rising demand for rare earth metals in the production of high-performance magnets, which are crucial in the manufacturing of electric vehicles (EVs), wind turbines, and other renewable energy applications, is a significant growth driver. As the world shifts toward sustainable energy and reduces its reliance on fossil fuels, the need for efficient energy storage and generation systems becomes more critical. Consequently, this transition is expected to considerably boost the market for rare earth metals.

Another factor contributing to the market's growth is the expanding electronics industry. Rare earth metals are indispensable in the production of various electronic devices, including smartphones, laptops, and advanced medical equipment. The ongoing advancements in technology and the increasing consumer demand for high-tech electronic products are driving the need for rare earth metals, thus supporting market growth.

The automotive industry also plays a vital role in the rare earth metal material market's expansion. With the global push for electric and hybrid vehicles, the demand for rare earth metals in the production of automotive components, such as batteries, motors, and catalytic converters, is on the rise. The industry's continuous evolution towards greener and more efficient transportation solutions is expected to further fuel the demand for rare earth metals.

Regionally, Asia Pacific holds a dominant position in the rare earth metal material market, accounting for the largest share in 2023. The region's significant growth can be attributed to the presence of major manufacturing hubs, particularly in China, which is the leading producer of rare earth metals. As the demand for high-tech consumer electronics, automotive components, and renewable energy solutions continues to grow in this region, it is expected to maintain its leading position over the forecast period.

Type Analysis

The rare earth metal material market is categorized into light rare earth metals and heavy rare earth metals. Light rare earth metals include elements such as cerium, lanthanum, and neodymium, while heavy rare earth metals comprise elements like gadolinium, terbium, and dysprosium. These metals are critical in various high-tech applications, and the market dynamics for each type differ based on their unique properties and applications.

Light rare earth metals are the most abundant and widely used in various industries. Cerium, for example, is extensively utilized in the manufacturing of catalytic converters for automobiles, which help reduce harmful emissions. Neodymium is crucial in the production of powerful magnets used in wind turbines and electric vehicle motors, making it highly sought after in the renewable energy sector. The demand for light rare earth metals is expected to grow significantly due to their extensive applications and the ongoing shift towards sustainable energy solutions.

On the other hand, heavy rare earth metals, though less abundant, are essential in high-performance applications where superior magnetic, optical, and electronic properties are required. Dysprosium and terbium, for instance, are used in the production of high-temperature resistant magnets and phosphors for display screens and lighting. The limited supply and high demand for these metals often result in higher market prices, making them a critical area of focus for market participants.

The type segment's growth is also influenced by the exploration and development of new mining sites, particularly for heavy rare earth metals. As global demand increases, companies are investing in advanced mining technologies and sustainable practices to enhance their extraction processes. This trend is expected to positively impact the overall supply chain and availability of rare earth metals, supporting market growth.

Moreover, geopolitical factors play a significant role in the type segment's dynamics. The concentration of rare earth metal production in specific regions, such as China, can lead to suppl

Between 2019 and 2022, 72 percent of rare earth imports into the United States originated from China. Malaysia and Estonia accounted for another eight and five 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 2022, China's rare earths production amounted to a total of some 210,000 metric tons. As of 2022, the country was estimated to have about 44 million metric tons of rare earth oxides (REO) in reserves.

The Asian rare earth metal market fell to $5.6B in 2024, which is down by -2.3% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2024: its value increased at an average annual rate of +2.4% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +1.7% against 2021 indices.

The rare metal recycling services market is experiencing robust growth, driven by increasing demand for rare earth elements in high-tech applications and stringent environmental regulations aimed at reducing e-waste. The market size in 2025 is estimated at $15 billion, with a Compound Annual Growth Rate (CAGR) of 8% projected from 2025 to 2033. This significant expansion is fueled by several key factors. Firstly, the escalating use of rare earth metals in electronics, renewable energy technologies (wind turbines, solar panels), and electric vehicles is creating a substantial supply-demand gap, incentivizing recycling efforts. Secondly, governments worldwide are implementing stricter regulations on e-waste disposal, promoting responsible recycling practices and boosting the market. Furthermore, technological advancements in rare metal extraction and refining processes are improving efficiency and reducing costs, making recycling economically viable. The market is segmented by recovery type (rare light metal, rare and precious metal, rare dispersed metal) and application (environmental protection, metal, metallurgical industries), reflecting the diverse sources and uses of rare metals. Key players are actively investing in research and development, as well as expanding their recycling capacities to meet the surging demand. North America and Europe currently hold significant market shares, but the Asia-Pacific region is poised for rapid growth due to its expanding electronics manufacturing base and increasing environmental awareness. The competitive landscape is characterized by a mix of large multinational corporations and specialized recycling companies. These players are focused on developing innovative technologies, forging strategic partnerships, and expanding their geographical reach to capitalize on the market's growth potential. Challenges remain, including the complex nature of rare metal extraction from diverse waste streams, fluctuations in rare metal prices, and the need for further technological advancements to improve recovery rates and reduce processing costs. However, the long-term outlook for the rare metal recycling services market remains positive, with continuous expansion expected throughout the forecast period driven by sustainable development goals and the growing demand for critical materials. The market is expected to reach approximately $30 billion by 2033.

The rare metals recycling market is experiencing robust growth, driven by increasing demand for these critical materials in various high-tech applications and a growing emphasis on sustainable resource management. The market, valued at approximately $5 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 8% from 2025 to 2033, reaching an estimated value of $10 billion by 2033. This expansion is fueled by several key factors, including stricter environmental regulations promoting resource efficiency, rising prices of virgin rare earth metals, and technological advancements in recycling processes enhancing recovery rates and lowering costs. Leading companies like Umicore, Solvay, and Hitachi Metals are actively investing in research and development, improving recycling technologies and expanding their processing capabilities to meet the growing market demand. The increasing adoption of electric vehicles (EVs), which utilize significant quantities of rare earth elements in their batteries and motors, is a major driver of growth. However, challenges remain. The complexity of separating and purifying rare metals from diverse waste streams presents technological hurdles. Furthermore, the geographical concentration of both rare metal production and recycling facilities can lead to supply chain vulnerabilities. Despite these restraints, the long-term outlook for the rare metals recycling market remains exceptionally positive, driven by the combined forces of increasing demand, tightening environmental regulations, and continued technological innovation within the industry. The market segmentation reflects a diverse range of applications and recycling methods, with significant opportunities for companies offering advanced and efficient processing technologies.

The rare metals recycling market is experiencing robust growth, driven by increasing demand for these critical materials in various high-tech applications, coupled with growing environmental concerns and stricter regulations regarding e-waste management. The market's value, currently estimated at $15 billion in 2025, is projected to expand significantly over the forecast period (2025-2033), exhibiting a Compound Annual Growth Rate (CAGR) of approximately 8%. This growth is fueled by the rising adoption of electric vehicles (EVs), renewable energy technologies, and advanced electronics, all of which heavily rely on rare earth elements and other precious metals. Furthermore, the increasing awareness of resource scarcity and the environmental impact of mining are pushing governments and industries towards sustainable recycling practices, further stimulating market expansion. Leading companies like Umicore, Solvay, and Hitachi Metals are at the forefront of technological advancements in rare metals recycling, developing innovative and efficient processes to extract valuable materials from various waste streams. However, the market also faces certain challenges. Fluctuating prices of rare metals, the complex nature of recycling processes for certain materials, and the potential for environmental contamination during recycling operations act as restraints. Overcoming these hurdles requires substantial investments in research and development, fostering collaboration between industry stakeholders, and establishing robust regulatory frameworks that incentivize responsible recycling. Segment-wise, the market is likely diversified across various rare metals, with platinum group metals (PGMs), rare earth elements (REEs), and other precious metals like gold and silver representing significant segments. Geographical distribution will vary, with North America, Europe, and Asia-Pacific emerging as key regions, driven by robust technological advancements and strict environmental regulations. The growth trajectory hinges on continuous technological innovation, effective policy support, and the sustained adoption of circular economy principles.