Global Rare Earth Elements (REE) Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Type;

Cerium, Neodymium, Lanthanum, Dysprosium, Terbium, Yttrium, and Others.

By Application;

Permanent Magnets, Metal Alloys, Glass Polishing, Glass Additives, Catalysts, Phosphors, Ceramics, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn141168883 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Rare Earth Elements (REE) Market (USD Million), 2021 - 2031

In the year 2024, the Global Rare Earth Elements (REE) Market was valued at USD 3,877.02 million. The size of this market is expected to increase to USD 7,651.89 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 10.2%.

The rare earth metals market has experienced substantial growth and is poised for further expansion, driven primarily by the increasing demand for rare-earth elements in permanent magnet applications. These elements, such as neodymium, praseodymium, and dysprosium, are crucial components in the production of high-performance permanent magnets used in various industries, including electronics, automotive, renewable energy, and healthcare. The growing adoption of electric vehicles, wind turbines, and other clean energy technologies has significantly boosted the demand for rare-earth metals, as these applications rely heavily on powerful and lightweight magnets for efficient operation. This surge in demand is expected to fuel the growth of the rare-earth metals market globally, with Asia-Pacific emerging as a key growth hub.

Within the Asia-Pacific region, China stands out as the dominant player in the rare-earth metals market, both in terms of production and consumption. China's abundant reserves and well-established mining and processing capabilities position it as the leading supplier of rare-earth metals to global markets. The country's strategic focus on developing its rare-earth industry, coupled with growing domestic demand and exports, contributes to the rapid expansion of the market in the region. The significant usage of permanent magnets in various industrial sectors, driven by advancements in technology and increasing focus on sustainability, provides a strong impetus for the continued growth of the rare-earth metals market in Asia-Pacific.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Rare Earth Elements (REE) Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Demand for High-Tech Products
        2. Expanding Renewable Energy Sector
        3. Growing Environmental Concerns
      2. Restraints
        1. Supply Chain Vulnerability
        2. Environmental and Regulatory Challenges
        3. Trade Barriers and Protectionism
      3. Opportunities
        1. Diversification of Supply Sources
        2. Green Energy Transition
        3. Strategic Partnerships and Collaborations
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Rare Earth Elements (REE) Market, By Type, 2021 - 2031 (USD Million)
      1. Cerium
      2. Neodymium
      3. Lanthanum
      4. Dysprosium
      5. Terbium
      6. Yttrium
      7. Others
    2. Global Rare Earth Elements (REE) Market, By Application, 2021 - 2031 (USD Million)
      1. Permanent Magnets
      2. Metal Alloys
      3. Glass Polishing
      4. Glass Additives
      5. Catalysts
      6. Phosphors
      7. Ceramics
      8. Others
    3. Global Rare Earth Elements (REE) Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Rest of Latin America
        4. Argentina
  6. Competitive Landscape
    1. Company Profiles
      1. Lynas Corporation
      2. Alkane Resources ltd
      3. Arafura Resources Ltd
      4. China Minmetals Rare Earth Co Ltd
      5. Avalon Advanced Materials, Inc
      6. Iluka Resource Ltd
      7. Canada Rare Earth Corporation
  7. Analyst Views
  8. Future Outlook of the Market