Market Forecast by Regions and Countries (North America, Europe, LATAM, Middle East, Asia and Africa), By Type (Cerium Oxide, Lanthanum Oxide, Neodymium Oxide, Yttrium Oxide, Praseodymium Oxide, Samarium Oxide, Gadolinium Oxide, Dysprosium Oxide), By Application (Permanent Magnets, Metal Alloys, Glass Polishing, Glass Additives, Catalysts, Phosphors, Ceramics, Others) And Competitive Landscape
| Product Code: ETC13386374 | Publication Date: Apr 2025 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Dhaval Chaurasia | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Rare Earth Metals Market was valued at USD 8.3 Billion in 2024 and is expected to reach USD 12.5 Billion by 2031, growing at a compound annual growth rate of 4.70% during the forecast period (2025-2031).
According to 6Wresearch internal database and industry insights, the Global Rare Earth Metals Market was accounted at USD 8.2 billion in 2024 and is projected to reach nearly USD 13.4 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period (2025-2031).
| Report Name | Global Rare Earth Metals Market |
| Forecast Period | 2025-2031 |
| Market Size | USD 13.4 billion by 2031 |
| CAGR | 5.5% |
| Growing Sector | Mining and Materials |
The Global Rare Earth Metals Market report thoroughly covers the market by types, applications, and regions. The market report provides an unbiased and detailed analysis of ongoing market trends, opportunities/high growth areas, and market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Global Rare Earth Metals Industry is anticipated to experience significant growth, fueled by rising demand in high-tech industries which include electronics, automotive and clean energy. As globally the focus transitions to high-performing electronics and renewable energy sources with that the production of rare earth metals such as neodymium, dysprosium and cerium is also expected to soar. Furthermore, governments worldwide are focusing on safety of supply chains, which further supports the Global rare earth metals market growth.
Below are some prominent drivers and their influence on market dynamics:
| Drivers | Primary Segments Affected | Why It Matters (Evidence) |
| Clean Energy Transition | Neodymium, Dysprosium, Lanthanum | As renewable energy sources like wind turbines and electric vehicles (EVs) grow, the demand for rare earth metals for magnets and batteries is increasing. |
| Electronics Demand | Cerium, Yttrium, Samarium | The increasing need for high-performance electronics in consumer goods, communications and military technology. |
| Automotive Industry | Neodymium, Praseodymium | The increasing adoption of electric vehicles, which demand high-performance magnets, is driving up demand. |
| Technological Advancements | All types | Ongoing developments in electronics, such as mobile devices and LED technologies, increase demand for rare earth metals. |
| Government Regulations & Initiatives | All types | Governments are spending more money on securing domestic supply chains and supporting sustainable industries. |
The Global Rare Earth Metals Market is expected to gain traction, registering a CAGR of 5.5% during 2025-2031. Substantial increase in the demand for clean energy in automotive and electronics sectors has generated the demand for rare earth metals. The advancement in material technology coupled with robust government initiatives will encourage market expansion. Furthermore, rising adoption of electric vehicles, which strongly rely on rare earth metals for high-performance magnets, will further drive demand along with that the growing focus on renewable energy sources such as wind and solar power is amplifying the need for these metals in green technologies. As countries diversify their supply chains, the market will also benefit from reduced geopolitical risks.
Below are some major restraints and their influence on market dynamics:
| Restraints | Primary Segments Affected | What This Means (Evidence) |
| Economic & Supply Chain Volatility | All types | The global supply of rare earth metals is concentrated in a few regions, which makes the market susceptible to disruptions. |
| Environmental Concerns | Mining of all types | Mining and extraction processes for rare earth metals can have a significant environmental impact. |
| High Production Costs | All types | The costs associated with extracting, refining, and processing rare earth metals remain high, affecting market affordability. |
| Geopolitical Risks | All types | Global pricing and supply can be altered through trade disagreements and political tensions. |
| Limited Recycling | All types | Rare earth metal recycling technologies are still in early stages, which limits the supply of recycled materials to meet the rising demand. |
The Global Rare Earth Metals Industry must face several obstacles like supply chain dependence on a few countries, environmental impacts of mining, and the high cost of extraction and processing. Geopolitical risks and the lack of sufficient recycling infrastructure may further constrain long-term market growth. Manufacturers and governments need to concentrate on securing supply chains, increasing recycling efforts, and adopting cleaner extraction technologies to overcome these obstacles.
Several notable trends are currently shaping the market dynamics:
Potential investment opportunities in the Global Rare Earth Metals Market include:
Some leading players dominating the Global Rare Earth Metals Market share include:
| Company Name | China Northern Rare Earth Group High-Tech Co. |
|---|---|
| Headquarters | Baotou, China |
| Established Year | 1999 |
| Official Website | Click Here |
China Northern Rare Earth Group is the world’s leading producer of rare earth metals, with a comprehensive portfolio covering extraction, processing, and recycling.
| Company Name | Lynas Corporation Ltd. |
|---|---|
| Headquarters | Sydney, Australia |
| Established Year | 1983 |
| Official Website | Click Here |
Lynas is a key player in the global rare earth metals market, particularly known for its production of Neodymium and other high-demand metals for industrial applications.
| Company Name | MP Materials |
|---|---|
| Headquarters | Las Vegas, Nevada, USA |
| Established Year | 2017 |
| Official Website | Click Here |
MP Materials is a major producer of rare earth metals in the United States, focusing on ensuring domestic supply for critical sectors like clean energy and defense.
| Company Name | Iluka Resources |
|---|---|
| Headquarters | Perth, Australia |
| Established Year | 1962 |
| Official Website | Click Here |
Iluka is a global leader in rare earth minerals, with extensive mining operations focused on supplying the global market with rare earth materials used in high-tech industries.
| Company Name | Rainbow Rare Earths Ltd. |
|---|---|
| Headquarters | London, UK |
| Established Year | 2006 |
| Official Website | Click Here |
Rainbow Rare Earths is a growing company known for its mining and extraction operations in Africa, focusing on developing new sources of rare earth elements for the global market.
Governments across the world are constantly introducing new regulations and mandates to encourage sustainable production and use of rare earth metals. For example, U.S. National Defense Authorization Act (NDAA) ensures safe supply of rare earth metals across various sectors especially defense and energy. The European Union’s Raw Materials Initiative aims to provide a sturdy supply of rare earth metals for EU-complied green infrastructure provinces. China’s 14th Five-Year Plan which endeavors to decrease its dependency on foreign sources and supports domestic production.
The outlook of the rare earth metals market looks positive, supported by increasing demand for clean energy, electric vehicles and advanced electronics. With more investment government and businesses encourage the production of eco-efficient and enhance green infrastructure projects, leading to rapid production of rare metal, henceforth, supporting seamless supply of the product. With rising technology, the cost of production has also reduced and has made the product more efficient and effective.
The report offers a comprehensive study of the subsequent market segments and their leading categories:
According to Priya Singh, Senior Research Analyst at 6Wresearch, Neodymium Oxide is expected to dominate the market due to its key role in manufacturing high-performance magnets used in electric motors, wind turbines, and other green technologies.
Permanent magnets are expected to lead the global market share, driven by their demand in electric vehicles, renewable energy applications, and electronics.
Asia Pacific is projected to hold the largest market share, particularly due to China’s dominant role in the supply of rare earth metals and the rapid industrialization of countries like India and Japan.
The report provides a detailed analysis of the following market segments:
| Global Rare Earth Metals Market |
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Key Highlights of the Report |
| 2.2 Report Description |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 Global Rare Earth Metals Market Overview |
| 3.1 Global Regional Macro Economic Indicators |
| 3.2 Global Rare Earth Metals Market Revenues & Volume, 2021 & 2031F |
| 3.3 Global Rare Earth Metals Market - Industry Life Cycle |
| 3.4 Global Rare Earth Metals Market - Porter's Five Forces |
| 3.5 Global Rare Earth Metals Market Revenues & Volume Share, By Regions, 2021 & 2031F |
| 3.6 Global Rare Earth Metals Market Revenues & Volume Share, By Type, 2021 & 2031F |
| 3.7 Global Rare Earth Metals Market Revenues & Volume Share, By Application, 2021 & 2031F |
| 4 Global Rare Earth Metals Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.3 Market Restraints |
| 5 Global Rare Earth Metals Market Trends |
| 6 Global Rare Earth Metals Market, 2021 - 2031 |
| 6.1 Global Rare Earth Metals Market, Revenues & Volume, By Type, 2021 - 2031 |
| 6.1.1 Overview & Analysis |
| 6.1.2 Global Rare Earth Metals Market, Revenues & Volume, By Cerium Oxide, 2021 - 2031 |
| 6.1.3 Global Rare Earth Metals Market, Revenues & Volume, By Lanthanum Oxide, 2021 - 2031 |
| 6.1.4 Global Rare Earth Metals Market, Revenues & Volume, By Neodymium Oxide, 2021 - 2031 |
| 6.1.5 Global Rare Earth Metals Market, Revenues & Volume, By Yttrium Oxide, 2021 - 2031 |
| 6.1.6 Global Rare Earth Metals Market, Revenues & Volume, By Praseodymium Oxide, 2021 - 2031 |
| 6.1.7 Global Rare Earth Metals Market, Revenues & Volume, By Samarium Oxide, 2021 - 2031 |
| 6.1.8 Global Rare Earth Metals Market, Revenues & Volume, By Gadolinium Oxide, 2021 - 2031 |
| 6.1.9 Global Rare Earth Metals Market, Revenues & Volume, By Dysprosium Oxide, 2021 - 2031 |
| 6.2 Global Rare Earth Metals Market, Revenues & Volume, By Application, 2021 - 2031 |
| 6.2.1 Overview & Analysis |
| 6.2.2 Global Rare Earth Metals Market, Revenues & Volume, By Permanent Magnets, 2021 - 2031 |
| 6.2.3 Global Rare Earth Metals Market, Revenues & Volume, By Metal Alloys, 2021 - 2031 |
| 6.2.4 Global Rare Earth Metals Market, Revenues & Volume, By Glass Polishing, 2021 - 2031 |
| 6.2.5 Global Rare Earth Metals Market, Revenues & Volume, By Glass Additives, 2021 - 2031 |
| 6.2.6 Global Rare Earth Metals Market, Revenues & Volume, By Catalysts, 2021 - 2031 |
| 6.2.7 Global Rare Earth Metals Market, Revenues & Volume, By Phosphors, 2021 - 2031 |
| 6.2.8 Global Rare Earth Metals Market, Revenues & Volume, By Ceramics, 2021 - 2031 |
| 6.2.9 Global Rare Earth Metals Market, Revenues & Volume, By Others, 2021 - 2031 |
| 6.3.1 Overview & Analysis |
| 7 North America Rare Earth Metals Market, Overview & Analysis |
| 7.1 North America Rare Earth Metals Market Revenues & Volume, 2021 - 2031 |
| 7.2 North America Rare Earth Metals Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 7.2.1 United States (US) Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 7.2.2 Canada Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 7.2.3 Rest of North America Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 7.3 North America Rare Earth Metals Market, Revenues & Volume, By Type, 2021 - 2031 |
| 7.4 North America Rare Earth Metals Market, Revenues & Volume, By Application, 2021 - 2031 |
| 8 Latin America (LATAM) Rare Earth Metals Market, Overview & Analysis |
| 8.1 Latin America (LATAM) Rare Earth Metals Market Revenues & Volume, 2021 - 2031 |
| 8.2 Latin America (LATAM) Rare Earth Metals Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 8.2.1 Brazil Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 8.2.2 Mexico Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 8.2.3 Argentina Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 8.2.4 Rest of LATAM Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 8.3 Latin America (LATAM) Rare Earth Metals Market, Revenues & Volume, By Type, 2021 - 2031 |
| 8.4 Latin America (LATAM) Rare Earth Metals Market, Revenues & Volume, By Application, 2021 - 2031 |
| 9 Asia Rare Earth Metals Market, Overview & Analysis |
| 9.1 Asia Rare Earth Metals Market Revenues & Volume, 2021 - 2031 |
| 9.2 Asia Rare Earth Metals Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 9.2.1 India Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 9.2.2 China Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 9.2.3 Japan Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 9.2.4 Rest of Asia Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 9.3 Asia Rare Earth Metals Market, Revenues & Volume, By Type, 2021 - 2031 |
| 9.4 Asia Rare Earth Metals Market, Revenues & Volume, By Application, 2021 - 2031 |
| 10 Africa Rare Earth Metals Market, Overview & Analysis |
| 10.1 Africa Rare Earth Metals Market Revenues & Volume, 2021 - 2031 |
| 10.2 Africa Rare Earth Metals Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 10.2.1 South Africa Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 10.2.2 Egypt Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 10.2.3 Nigeria Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 10.2.4 Rest of Africa Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 10.3 Africa Rare Earth Metals Market, Revenues & Volume, By Type, 2021 - 2031 |
| 10.4 Africa Rare Earth Metals Market, Revenues & Volume, By Application, 2021 - 2031 |
| 11 Europe Rare Earth Metals Market, Overview & Analysis |
| 11.1 Europe Rare Earth Metals Market Revenues & Volume, 2021 - 2031 |
| 11.2 Europe Rare Earth Metals Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 11.2.1 United Kingdom Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 11.2.2 Germany Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 11.2.3 France Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 11.2.4 Rest of Europe Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 11.3 Europe Rare Earth Metals Market, Revenues & Volume, By Type, 2021 - 2031 |
| 11.4 Europe Rare Earth Metals Market, Revenues & Volume, By Application, 2021 - 2031 |
| 12 Middle East Rare Earth Metals Market, Overview & Analysis |
| 12.1 Middle East Rare Earth Metals Market Revenues & Volume, 2021 - 2031 |
| 12.2 Middle East Rare Earth Metals Market, Revenues & Volume, By Countries, 2021 - 2031 |
| 12.2.1 Saudi Arabia Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 12.2.2 UAE Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 12.2.3 Turkey Rare Earth Metals Market, Revenues & Volume, 2021 - 2031 |
| 12.3 Middle East Rare Earth Metals Market, Revenues & Volume, By Type, 2021 - 2031 |
| 12.4 Middle East Rare Earth Metals Market, Revenues & Volume, By Application, 2021 - 2031 |
| 13 Global Rare Earth Metals Market Key Performance Indicators |
| 14 Global Rare Earth Metals Market - Export/Import By Countries Assessment |
| 15 Global Rare Earth Metals Market - Opportunity Assessment |
| 15.1 Global Rare Earth Metals Market Opportunity Assessment, By Countries, 2021 & 2031F |
| 15.2 Global Rare Earth Metals Market Opportunity Assessment, By Type, 2021 & 2031F |
| 15.3 Global Rare Earth Metals Market Opportunity Assessment, By Application, 2021 & 2031F |
| 16 Global Rare Earth Metals Market - Competitive Landscape |
| 16.1 Global Rare Earth Metals Market Revenue Share, By Companies, 2024 |
| 16.2 Global Rare Earth Metals Market Competitive Benchmarking, By Operating and Technical Parameters |
| 17 Top 10 Company Profiles |
| 18 Recommendations |
| 19 Disclaimer |