Neodymium fell to 770,000 CNY/T on October 10, 2025, down 1.91% from the previous day. Over the past month, Neodymium's price has fallen 1.91%, but it is still 43.26% higher than a year ago, 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 October of 2025.

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.

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 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

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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 2019 and showed a gradual inc

The U.S. rare earth elements market size was USD 85.5 million in 2024, and it will grow by 9.5% during 2025-2032, reaching USD 174.8 million by 2032.

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.

The global rare earth metals market size was valued at over USD 6.4 billion in 2025 and is expected to register a CAGR of around 6.2%, exceeding USD 11.68 billion revenue by 2035, driven by technological advancements and electronics industry growth.

Heavy Rare Earth Elements Market Outlook

The global Heavy Rare Earth Elements (HREE) market size was valued at approximately USD 2.5 billion in 2023 and is projected to reach USD 4.8 billion by 2032, growing at a CAGR of 7.5% during the forecast period. The growth factors for this market include increasing demand from high-tech industries, advancements in clean energy technologies, and the strategic value of these elements in defense applications. The growing importance of HREEs in the development of advanced technologies such as electric vehicles, wind turbines, and advanced defense systems is driving significant market expansion.

One of the primary growth factors of the HREE market is their critical role in the manufacturing of permanent magnets, which are essential components in electric vehicles (EVs) and wind turbines. The global push towards reducing carbon emissions and adopting renewable energy sources is fueling the demand for these magnets. As countries strive to meet their sustainability goals, the need for efficient and high-performance magnets, which often incorporate HREEs such as Dysprosium and Terbium, is increasing. This trend is expected to continue, significantly driving the market for heavy rare earth elements.

Another key growth factor is the strategic importance of HREEs in national defense sectors. These elements are used in various advanced military applications, including precision-guided munitions, stealth technologies, and communication systems. Governments around the world are investing heavily in modernizing their defense capabilities, leading to increased demand for HREEs. The geopolitical significance of these elements, coupled with their limited supply, makes them vital for national security, further driving market growth.

The rise of high-tech industries, particularly electronics and telecommunications, is also spurring the demand for HREEs. Elements such as Holmium, Yttrium, and Lutetium are used in the production of advanced electronic devices, laser systems, and various other high-tech applications. The ongoing digital transformation and the proliferation of smart devices are creating a substantial market for these elements. As technology continues to evolve, the reliance on HREEs is expected to grow, contributing to the market's expansion.

Rare Earth Metals are crucial components in the modern technological landscape, playing a vital role in the production of high-performance magnets, catalysts, and electronic devices. These metals, including elements like Neodymium, Dysprosium, and Terbium, are indispensable in the manufacturing of electric vehicles, wind turbines, and various defense applications. The strategic importance of Rare Earth Metals is underscored by their limited availability and the complex extraction processes required to obtain them. As global demand for advanced technologies continues to rise, the need for a stable and sustainable supply of these metals is becoming increasingly critical. Efforts to diversify supply chains and invest in new mining and processing technologies are essential to meet the growing demand and ensure the long-term availability of Rare Earth Metals.

From a regional perspective, Asia Pacific is expected to dominate the HREE market due to its significant manufacturing capabilities and growing technological advancements. China, in particular, holds a major share of global HREE production and consumption, given its extensive rare earth reserves and advanced processing technologies. North America and Europe are also key markets, driven by their high-tech industries and strategic defense initiatives. The Middle East & Africa and Latin America, though smaller markets, are witnessing growing interest due to their untapped rare earth reserves and potential for industrial expansion.

Type Analysis

The HREE market is segmented by type into Dysprosium, Terbium, Yttrium, Holmium, Erbium, Thulium, Ytterbium, and Lutetium. Dysprosium and Terbium are among the most sought-after HREEs due to their application in high-performance magnets. Dysprosium is crucial in the manufacturing of neodymium-iron-boron (NdFeB) magnets, which are used in various high-tech industries, including automotive and renewable energy. Terbium, on the other hand, is valued for its use in green phosphors and as a dopant in solid-state devices. The increasing adoption of EVs and the expansion of renewable energy projects are significantly boosting the demand for these elements.

The global rare earth metal market reduced modestly to $6.9B in 2024, falling by -3% against the previous year. Overall, the total consumption indicated a perceptible expansion from 2012 to 2024: its value increased at an average annual rate of +2.1% 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 -1.6% against 2021 indices.

Rare Earth Metals Market size was valued at USD 4.84 Billion in 2023 and is projected to reach USD 10.78 Billion by 2030, growing at a CAGR of 11.42% during the forecasted period 2024 to 2030.

Global Rare Earth Metals Market Drivers

The market drivers for the Rare Earth Metals Market can be influenced by various factors. These may include:

Technological Advancements: The market is growing because to the growing demand for rare earth metals, which are essential for high-tech applications including smartphones, electric cars, renewable energy technologies, and defense systems.

worldwide Transition to Clean Energy: Rare earth metals are essential to the manufacturing of solar panels, wind turbines, and batteries for electric vehicles, all of which support the worldwide movement toward sustainable development and renewable energy sources.

Strategic Importance in Defense: The production of cutting-edge defense technology, such as radar systems, aircraft engines, and missile guidance systems, depends on rare earth metals, which is why the defense industry globally is seeing a large demand for them.

Emerging Markets: As a result of the fast industrialization and urbanization of emerging nations like China, India, and Brazil, there is a rise in the need for rare earth metals in the construction of infrastructure, the production of electronics, and the manufacture of consumer products.

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...

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.

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.

The Rare Earth Metals market, valued at $10.88 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 9.59% from 2025 to 2033. This expansion is driven by the escalating demand from various sectors, primarily the burgeoning renewable energy sector (wind turbines, electric vehicles) and advanced technologies (electronics, magnets). Increased government initiatives promoting clean energy transition and technological advancements further fuel this market's upward trajectory. While supply chain vulnerabilities and geopolitical factors pose potential restraints, ongoing exploration and development efforts, coupled with technological innovations aimed at improving extraction and processing techniques, are mitigating these risks. Market segmentation reveals strong growth in specific applications, likely driven by the high demand for rare earth elements in high-performance magnets and energy-efficient lighting. The market is characterized by a diverse landscape of companies, including both established industry giants and emerging players, leading to dynamic competition focused on securing resources, optimizing production, and enhancing technological capabilities. The geographic distribution shows strong growth potential in Asia-Pacific, driven largely by China's dominance in rare earth processing and manufacturing, and increasing demand from other developing economies. North America and Europe are also expected to witness significant growth, fueled by the increasing adoption of renewable energy technologies and government support for the sector. The competitive landscape is marked by both established players and emerging companies vying for market share. Leading companies are focusing on strategic partnerships, acquisitions, and technological advancements to strengthen their market position. The industry's growth is also influenced by factors like fluctuating prices of rare earth elements, environmental regulations concerning mining and processing, and technological breakthroughs that may lead to the development of substitutes or more efficient use of existing materials. Forecasting the market’s future necessitates close monitoring of geopolitical factors, technological advancements, and the evolving regulatory environment governing rare earth element extraction, processing, and application. The longer-term outlook remains positive, predicated on ongoing technological progress and increasing global adoption of technologies reliant on rare earth metals.

Rare Earth Metals Market Outlook

As per our latest research, the global rare earth metals market size reached USD 6.8 billion in 2024, reflecting robust demand across various high-tech and energy sectors. The market is projected to expand at a CAGR of 9.2% from 2025 to 2033, reaching an estimated value of USD 15.1 billion by 2033. The primary growth factor for this market is the surging adoption of rare earth elements in advanced electronics, renewable energy technologies, and electric vehicles, which are driving both volume and value growth worldwide.

The rare earth metals market is experiencing dynamic expansion, primarily fueled by the proliferation of clean energy technologies and the electrification of transportation. Rare earth elements, such as neodymium and dysprosium, are critical components in the manufacturing of high-performance magnets used in wind turbines and electric vehicle motors. This trend is further accelerated by stringent regulatory policies aimed at reducing carbon emissions and promoting renewable energy sources. As countries ramp up their investments in wind and solar power, the demand for rare earth metals continues to escalate, ensuring a steady growth trajectory for the industry. The strategic importance of these metals in achieving global sustainability targets cannot be overstated, as they are indispensable for the functioning of many green technologies.

Another significant growth driver is the expanding application of rare earth metals in consumer electronics and advanced manufacturing. Devices such as smartphones, laptops, and flat-screen televisions rely heavily on rare earth elements for their miniaturized components, vibrant displays, and enhanced functionalities. The rapid pace of technological innovation, coupled with rising disposable incomes in emerging economies, has led to an uptick in demand for electronic goods, thereby boosting the rare earth metals market. Additionally, the integration of rare earths in cutting-edge sectors like robotics, aerospace, and defense is opening new avenues for market expansion. As manufacturers seek to achieve superior performance and efficiency, the reliance on high-purity rare earth elements is expected to intensify, further propelling market growth.

Supply chain dynamics and geopolitical factors also play a pivotal role in shaping the rare earth metals market. The concentration of rare earth mining and processing in a few countries, particularly China, has prompted other nations to diversify their supply sources and invest in domestic production capabilities. This shift is fostering new exploration projects and technological advancements in extraction and recycling processes. Governments are increasingly recognizing the strategic importance of rare earth metals and are implementing supportive policies to ensure a stable and secure supply. These efforts are enhancing market resilience and encouraging further investments, which are expected to have a positive impact on the overall growth of the rare earth metals market in the coming years.

From a regional perspective, Asia Pacific continues to dominate the rare earth metals market, accounting for a substantial share of global production and consumption. China, in particular, is the epicenter of the industry, both as the largest producer and consumer of rare earth elements. North America and Europe are also witnessing significant growth, driven by the expansion of high-tech industries and increased focus on supply chain security. Meanwhile, emerging markets in Latin America and the Middle East & Africa are gradually increasing their footprint through new mining projects and strategic collaborations. The regional landscape is expected to evolve rapidly, with heightened competition and innovation shaping the future of the global rare earth metals market.

Type Analysis

The rare earth metals market is segmented by type, encompassing key elements such as lanthanum, cerium, neodymium, praseodymium, samarium, europium, gadolinium, terbium, dysprosium, yttrium, and ot

Market Overview: The global rare earth market is projected to grow from USD 5,769 million in 2025 to USD 15,323.8 million by 2033, exhibiting a CAGR of 9.9% during the forecast period. The market growth is primarily driven by the increasing demand for rare earth elements in various industries, including metallurgy, electronics, and clean energy technologies. The surge in demand for high-performance magnets, batteries, and catalytic converters is expected to fuel the growth of the rare earth market. Industry Trends and Segmentation: The rare earth market is segmented by application (metallurgy, permanent magnets, catalytic materials, etc.) and type (oxide, salts, metals). The metallurgy segment holds the largest market share due to its use in alloying and refining metals. The rare earth permanent magnet materials segment is projected to witness the fastest growth due to the rising demand for magnets in electric vehicles, wind turbines, and other advanced applications. The market is highly concentrated with a few major players, including Reht, China Rare Earth Group, and Shenghe Resource, dominating the industry. Key trends shaping the market include the adoption of sustainable mining practices, technological advancements in rare earth extraction, and increasing investments in exploration and production activities.

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 CIS rare earth metal market amounted to $165M in 2024, therefore, remained relatively stable against 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 in certain years. The level of consumption peaked at $169M in 2017; however, from 2018 to 2024, consumption remained at a lower figure.