Rare Earth Elements (REE) Market

By Type;

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

By Product Type;

Light Rare Earth Elements and Heavy Rare Earth Elements

By End-Use Industry;

Clean Energy, Consumer Electronics, 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 & Africa, and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn141168883 Published Date: August, 2025 Updated Date: September, 2025

Rare Earth Elements (REE) Market Overview

Rare Earth Elements (REE) Market (USD Million)

Rare Earth Elements (REE) Market was valued at USD 3,877.02 million in the year 2024. 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%.


Rare Earth Elements (REE) Market

*Market size in USD million

CAGR 10.2 %


Study Period2025 - 2031
Base Year2024
CAGR (%)10.2 %
Market Size (2024)USD 3,877.02 Million
Market Size (2031)USD 7,651.89 Million
Market ConcentrationLow
Report Pages397
3,877.02
2024
7,651.89
2031

Major Players

  • Lynas Corporation
  • Alkane Resources ltd
  • Arafura Resources Ltd
  • China Minmetals Rare Earth Co Ltd
  • Avalon Advanced Materials, Inc
  • Iluka Resource Ltd
  • Canada Rare Earth Corporation

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Rare Earth Elements (REE) Market

Fragmented - Highly competitive market without dominant players


The Rare Earth Elements (REE) Market is witnessing significant expansion due to their critical role in high-tech applications. These elements power innovations in electronics, renewable energy, and battery technologies. Nearly 65% of total demand is driven by magnets and energy-efficient systems, positioning REEs as essential for industrial advancement.

High Usage in Electronics and Energy
REEs are widely used in electronics and energy solutions, forming the backbone of many advanced technologies. More than 40% of consumption is tied to devices such as smartphones, laptops, wind turbines, and electric vehicles. Their unmatched properties ensure efficiency, durability, and performance in these critical applications.

Diverse Industry Applications
The market benefits from broad adoption across sectors including defense, medical imaging, and automotive technologies. Around 30% of demand comes from these specialized uses, highlighting the expanding industrial reliance on REEs. Their contribution to enhancing functionality across diverse applications secures their long-term relevance.

Focus on Sustainability and Recycling
Sustainability is reshaping the REE industry, with nearly 25% of advancements emphasizing recycling and sustainable sourcing. These practices not only reduce environmental impact but also ensure a stable supply chain for industries adopting clean energy and hybrid vehicle solutions.

  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 Product Type
    3. Market Snapshot, By End-Use Industry
    4. Market Snapshot, By Application
    5. Market Snapshot, By Region
  4. 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. 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. Rare Earth Elements (REE) Market, By Product Type, 2021 - 2031 (USD Million)
      1. Light Rare Earth Elements
      2. Heavy Rare Earth Elements
    3. Rare Earth Elements (REE) Market, By End-Use Industry, 2021 - 2031 (USD Million)
      1. Clean Energy
      2. Consumer Electronics
      3. Others
    4. 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
    5. 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