Rare Earth Metals Market Size, Share, Trends, Growth Outlook

Global Rare Earth Metals Market is forecast to register a CAGR of 11.5% from $6.8 Billion in 2024 to $13.1 Billion in 2030 driven by new product launches by companies.

The global Rare Earth Metals Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Type (Cerium Oxide, Lanthanum Oxide, Neodymium Oxide, Yttrium Oxide, Praseodymium Oxide, Samarium Oxide, Gadolinium Oxide, Dysprosium Oxide, Terbium Oxide, Europium Oxide, Others), By Application (Permanent Magnets, Metal Alloys, Glass Polishing, Glass Additives, Catalysts, Phosphors, Ceramics, Others).

An Introduction to Rare Earth Metals Market in 2024

The rare earth metals market in 2024 reflects the critical role of rare earth elements in high-tech industries, renewable energy technologies, and electronics manufacturing, driving demand for sustainable sourcing, recycling initiatives, and supply chain resilience. Rare earth metals include lanthanides, scandium, and yttrium, essential for magnets, batteries, catalysts, and electronics production. With geopolitical factors, market dynamics, and technological advancements shaping rare earth supply and demand, the market witnesses investments in exploration, processing technologies, and recycling solutions. The rare earth metals market addresses challenges related to resource scarcity, environmental impact, and geopolitical dependencies, driving market innovation and strategic partnerships across the global rare earth industry.

Rare Earth Metals Market Competitive Landscape

The market report analyses the leading companies in the industry including Aluminum Corp of China Ltd, ARAFURA RESOURCES, Avalon Advanced Materials Inc, China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd, Eutectix, Iluka Resources Ltd, Lynas Rare Earths Ltd, Medallion Resources Ltd, Minmetals Land Ltd, Northern Minerals, Peak Resources, Rare Element Resources Ltd, Rio Tinto, Shin-Etsu Chemical Co. Ltd, Ucore Rare Metals Inc, Xiamen Tungsten Co. Ltd.

Rare Earth Metals Market Dynamics

Market Trend: Growing Demand for Rare Earth Metals in Clean Energy Technologies

The most prominent trend in the Rare Earth Metals market is the growing demand for these metals in clean energy technologies such as electric vehicles, wind turbines, and solar panels. Rare earth metals like neodymium, praseodymium, and dysprosium are essential components in magnets used in electric motors, generators, and wind turbine systems. Additionally, they play a crucial role in the production of photovoltaic cells for solar panels. This trend is driven by the global push towards renewable energy sources and the electrification of transportation, leading to increased consumption of rare earth metals in clean energy applications.

Market Driver: Technological Advancements and Increased Adoption of Electric Vehicles

A significant driver for the Rare Earth Metals market is the continuous technological advancements and the increased adoption of electric vehicles (EVs). As automotive manufacturers transition towards producing more electric and hybrid vehicles, there is a surge in the demand for rare earth magnets, particularly neodymium-based magnets, used in electric motor assemblies. The growth of the EV market, along with advancements in wind and solar energy technologies, drives the demand for rare earth metals.

Market Opportunity: Recycling and Circular Economy Initiatives

One potential opportunity in the Rare Earth Metals market lies in recycling and circular economy initiatives for these metals. Collaborating with recycling firms, technology developers, and policymakers presents opportunities to develop efficient recycling processes for rare earth metals from end-of-life products such as electronics, magnets, and batteries. Capitalizing on this opportunity involves investing in research and development to improve recycling technologies, establishing collection and recycling networks, and promoting sustainable practices to recover and reuse rare earth metals, thereby reducing dependence on primary mining and contributing to a more sustainable supply chain for rare earth metals.

Rare Earth Metals Market Share Analysis: Neodymium Oxide Driving Growth in Rare Earth Metals Market

The fastest-growing segment in the Rare Earth Metals market is Neodymium Oxide, primarily due to its crucial role in the production of permanent magnets. Neodymium-based magnets, known as Neodymium-Iron-Boron (NdFeB) magnets, exhibit exceptional magnetic properties, such as high coercivity and remanence, making them indispensable in various industries. The demand for Neodymium Oxide is particularly driven by its application in manufacturing powerful and compact magnets used in wind turbines, electric vehicles, consumer electronics, medical devices, and industrial machinery. With the global push towards renewable energy and electrification of transport, there is a substantial surge in the adoption of Neodymium-based magnets, especially in wind turbines and electric motors. Moreover, Neodymium Oxide finds extensive use in metal alloys, glass polishing, and catalysts, further contributing to its market growth.

Rare Earth Metals Market Segmentation-

By Type
Cerium Oxide
Lanthanum Oxide
Neodymium Oxide
Yttrium Oxide
Praseodymium Oxide
Samarium Oxide
Gadolinium Oxide
Dysprosium Oxide
Terbium Oxide
Europium Oxide
Others
By Application
Permanent Magnets
Metal Alloys
Glass Polishing
Glass Additives
Catalysts
Phosphors
Ceramics
OthersGeographical Analysis
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)

Rare Earth Metals Market Companies Profiled

Aluminum Corp of China Ltd
ARAFURA RESOURCES
Avalon Advanced Materials Inc
China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd
Eutectix
Iluka Resources Ltd
Lynas Rare Earths Ltd
Medallion Resources Ltd
Minmetals Land Ltd
Northern Minerals
Peak Resources
Rare Element Resources Ltd
Rio Tinto
Shin-Etsu Chemical Co. Ltd
Ucore Rare Metals Inc
Xiamen Tungsten Co. Ltd*- List Not Exhaustive

TABLE OF CONTENTS

1 Introduction to 2024 Rare Earth Metals Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 Executive Summary
3.1 Global Rare Earth Metals Market Size Outlook, $ Million, 2021 to 2030
3.2 Rare Earth Metals Market Outlook by Type, $ Million, 2021 to 2030
3.3 Rare Earth Metals Market Outlook by Product, $ Million, 2021 to 2030
3.4 Rare Earth Metals Market Outlook by Application, $ Million, 2021 to 2030
3.5 Rare Earth Metals Market Outlook by Key Countries, $ Million, 2021 to 2030

4 Market Dynamics
4.1 Key Driving Forces of Rare Earth Metals Industry
4.2 Key Market Trends in Rare Earth Metals Industry
4.3 Potential Opportunities in Rare Earth Metals Industry
4.4 Key Challenges in Rare Earth Metals Industry

5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Rare Earth Metals Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook

6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 Global Rare Earth Metals Market Outlook by Segments
7.1 Rare Earth Metals Market Outlook by Segments, $ Million, 2021- 2030
By Type
Cerium Oxide
Lanthanum Oxide
Neodymium Oxide
Yttrium Oxide
Praseodymium Oxide
Samarium Oxide
Gadolinium Oxide
Dysprosium Oxide
Terbium Oxide
Europium Oxide
Others
By Application
Permanent Magnets
Metal Alloys
Glass Polishing
Glass Additives
Catalysts
Phosphors
Ceramics
Others

8 North America Rare Earth Metals Market Analysis and Outlook To 2030
8.1 Introduction to North America Rare Earth Metals Markets in 2024
8.2 North America Rare Earth Metals Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Rare Earth Metals Market size Outlook by Segments, 2021-2030
By Type
Cerium Oxide
Lanthanum Oxide
Neodymium Oxide
Yttrium Oxide
Praseodymium Oxide
Samarium Oxide
Gadolinium Oxide
Dysprosium Oxide
Terbium Oxide
Europium Oxide
Others
By Application
Permanent Magnets
Metal Alloys
Glass Polishing
Glass Additives
Catalysts
Phosphors
Ceramics
Others
9 Europe Rare Earth Metals Market Analysis and Outlook To 2030
9.1 Introduction to Europe Rare Earth Metals Markets in 2024
9.2 Europe Rare Earth Metals Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Rare Earth Metals Market Size Outlook by Segments, 2021-2030
By Type
Cerium Oxide
Lanthanum Oxide
Neodymium Oxide
Yttrium Oxide
Praseodymium Oxide
Samarium Oxide
Gadolinium Oxide
Dysprosium Oxide
Terbium Oxide
Europium Oxide
Others
By Application
Permanent Magnets
Metal Alloys
Glass Polishing
Glass Additives
Catalysts
Phosphors
Ceramics
Others
10 Asia Pacific Rare Earth Metals Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Rare Earth Metals Markets in 2024
10.2 Asia Pacific Rare Earth Metals Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Rare Earth Metals Market size Outlook by Segments, 2021-2030
By Type
Cerium Oxide
Lanthanum Oxide
Neodymium Oxide
Yttrium Oxide
Praseodymium Oxide
Samarium Oxide
Gadolinium Oxide
Dysprosium Oxide
Terbium Oxide
Europium Oxide
Others
By Application
Permanent Magnets
Metal Alloys
Glass Polishing
Glass Additives
Catalysts
Phosphors
Ceramics
Others
11 South America Rare Earth Metals Market Analysis and Outlook To 2030
11.1 Introduction to South America Rare Earth Metals Markets in 2024
11.2 South America Rare Earth Metals Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Rare Earth Metals Market size Outlook by Segments, 2021-2030
By Type
Cerium Oxide
Lanthanum Oxide
Neodymium Oxide
Yttrium Oxide
Praseodymium Oxide
Samarium Oxide
Gadolinium Oxide
Dysprosium Oxide
Terbium Oxide
Europium Oxide
Others
By Application
Permanent Magnets
Metal Alloys
Glass Polishing
Glass Additives
Catalysts
Phosphors
Ceramics
Others
12 Middle East and Africa Rare Earth Metals Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Rare Earth Metals Markets in 2024
12.2 Middle East and Africa Rare Earth Metals Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Rare Earth Metals Market size Outlook by Segments, 2021-2030
By Type
Cerium Oxide
Lanthanum Oxide
Neodymium Oxide
Yttrium Oxide
Praseodymium Oxide
Samarium Oxide
Gadolinium Oxide
Dysprosium Oxide
Terbium Oxide
Europium Oxide
Others
By Application
Permanent Magnets
Metal Alloys
Glass Polishing
Glass Additives
Catalysts
Phosphors
Ceramics
Others 13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Aluminum Corp of China Ltd
ARAFURA RESOURCES
Avalon Advanced Materials Inc
China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd
Eutectix
Iluka Resources Ltd
Lynas Rare Earths Ltd
Medallion Resources Ltd
Minmetals Land Ltd
Northern Minerals
Peak Resources
Rare Element Resources Ltd
Rio Tinto
Shin-Etsu Chemical Co. Ltd
Ucore Rare Metals Inc
Xiamen Tungsten Co. Ltd

14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

By Type
Cerium Oxide
Lanthanum Oxide
Neodymium Oxide
Yttrium Oxide
Praseodymium Oxide
Samarium Oxide
Gadolinium Oxide
Dysprosium Oxide
Terbium Oxide
Europium Oxide
Others
By Application
Permanent Magnets
Metal Alloys
Glass Polishing
Glass Additives
Catalysts
Phosphors
Ceramics
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)