Neodymium rose to 562,500 CNY/T on July 11, 2025, up 0.45% from the previous day. Over the past month, Neodymium's price has risen 0.90%, and is up 22.95% 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.

In 2030, the price of lanthanum oxide is forecast to be 1,590 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.

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.

Explore the dynamic world of rare earth metals critical to high-tech devices and renewable energy systems, their fluctuating prices driven by demand, supply constraints, and geopolitical factors, and efforts to diversify supply beyond China's dominance.

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

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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

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 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.

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.

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.

Learn about the rising demand for rare earth metals in Japan and how the market is projected to grow over the next decade, with anticipated increases in both volume and value.

This record consists of three main files:

1. Compilation of historic prices of rare earth oxides and their co-products (2013-2025); (XLSX)
2. Average prices of rare earth oxides and their co-products (2014-2025); (CSV)
3. Average prices of rare earth oxides and their co-products (2013-2022); (CSV)

Two support files (SF) illustrate the data processing from the compilation of the historic prices to the calculation of average prices (XLSX).

These prices were originally compiled for the life cycle assessment of rare earth oxides and rare earth magnets. In particular, the average prices are intended as inputs to calculate the economic allocation factors for the multifunctional processes in the rare earth product system.

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 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 *************.

The global rare earth metal market dropped to $8.2B in 2024, shrinking by -4.6% against the previous year. In general, the total consumption indicated temperate growth from 2012 to 2024: its value increased at an average annual rate of +2.5% 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 -4.6% against 2021 indices.

China Rare Earth Metal Mining & Dressing: Profit to Cost Ratio data was reported at 44.381 % in Dec 2011. This records a decrease from the previous number of 48.850 % for Nov 2011. China Rare Earth Metal Mining & Dressing: Profit to Cost Ratio data is updated monthly, averaging 7.632 % from Dec 2006 (Median) to Dec 2011, with 37 observations. The data reached an all-time high of 50.794 % in Sep 2011 and a record low of 3.128 % in May 2008. China Rare Earth Metal Mining & Dressing: Profit to Cost Ratio data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Industrial Sector – Table CN.BGC: Rare Earth Mining and Dressing: Rare Earth Metal Mining and Dressing.

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.

China Rare Earth Metal Mining & Dressing: Value Added Tax Payable: Year to Date data was reported at 0.577 RMB bn in Dec 2011. This records an increase from the previous number of 0.536 RMB bn for Nov 2011. China Rare Earth Metal Mining & Dressing: Value Added Tax Payable: Year to Date data is updated monthly, averaging 0.068 RMB bn from Dec 1998 (Median) to Dec 2011, with 55 observations. The data reached an all-time high of 0.577 RMB bn in Dec 2011 and a record low of 0.008 RMB bn in Feb 2006. China Rare Earth Metal Mining & Dressing: Value Added Tax Payable: Year to Date data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Industrial Sector – Table CN.BGC: Rare Earth Mining and Dressing: Rare Earth Metal Mining and Dressing.

In 2023, imports of rare earth metals into Mexico soared to 3.6 tons, surging by 51% against the previous year.

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