Rare Earth Metals Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Rare Earth Elements Market Trends & Industry Share and It is Segmented by Element (Cerium, Neodymium, Lanthanum, Dysprosium, Terbium, Yttrium and Scandium, and Other Elements), Application (Catalysts, Ceramics, Phosphors, Glass and Polishing, Metallurgy, Magnets, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Report Offers Market Size and Forecasts for the Rare Earth Elements Market in Volume (ton) for all the Above Segments.

Rare Earth Metals Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Rare Earth Elements Market Size

Rare Earth Elements Market Summary
Study Period 2019 - 2030
Market Volume (2025) 182.36 kilotons
Market Volume (2030) 223.91 kilotons
CAGR 4.19 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Rare Earth Elements Market  Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Rare Earth Elements Market with other markets in Chemicals & Materials Industry

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

Rare Earth Elements Market Analysis

The Rare Earth Elements Market size is estimated at 182.36 kilotons in 2025, and is expected to reach 223.91 kilotons by 2030, at a CAGR of 4.19% during the forecast period (2025-2030).

COVID-19 negatively impacted the demand for rare earth elements as the global demand witnessed a slowdown following stringent containment restrictions for a long time. However, the situation gradually improved in 2021 with the global economy's revival and industrial activities' resumption.

  • The factors driving the market's growth are the high demand from emerging economies and dependency on "Green Technology" on rare Earth elements.
  • On the flip side, an inconsistent supply of rare earth elements may act as a barrier to the market's growth.
  • The increasing scandium usage in aerospace applications will likely provide opportunities for the market during the forecast period.
  • Asia-Pacific dominated the global market, owing to the increasing production of rare Earth metals and rising demand from industries such as consumer electronics.

Rare Earth Elements Industry Overview

The rare Earth elements market is fragmented, with numerous players holding insignificant shares to affect the market dynamics individually. Some prominent players in the market include (not in any particular order) Lynas Rare Earths Ltd, Minmetals Land Limited, Aluminum Corporation of China Ltd, Iluka Resources Limited, and Rare Element Resources Limited, among others.

Rare Earth Elements Market Leaders

  1. Iluka Resources Limited

  2. Lynas Rare Earths, Ltd.

  3. Minmetals Land Limited

  4. Rare Elements Resources Ltc.

  5. Aluminum Corporation of China Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
Rare Earth Elements Market Concentration
Need More Details on Market Players and Competiters?
Download PDF

Rare Earth Elements Market News

  • August 2022: Australia's Lynas Rare Earths Ltd unveiled a plan to expand capacity at its Western Australia-based Mt Weld mine having deposits of neodymium (Nd) and praseodymium (Pr). The company anticipates expansion work to begin by early 2023, with full operation planned for 2024.
  • April 2022: Iluka Resources Ltd announced an investment worth USD 1.2 billion for developing the Eneabba Phase 3 rare earth refinery in Western Australia for the dedicated production of rare Earth oxides. The investment aims to make Iluka a strategic hub for the downstream processing of Australia's rare earth resources.

Rare Earth Elements Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 High Demand from Emerging Economies
    • 4.1.2 Dependency of 'Green Technology' on Rare Earth Elements
  • 4.2 Restraints
    • 4.2.1 Inconsistent Supply of Rare Earth Elements
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Volume)

  • 5.1 Element
    • 5.1.1 Cerium
    • 5.1.1.1 Oxide
    • 5.1.1.2 Sulfide
    • 5.1.1.3 Other Elements
    • 5.1.2 Neodymium
    • 5.1.2.1 Alloy
    • 5.1.3 Lanthanum
    • 5.1.3.1 Alloy
    • 5.1.3.2 Oxide
    • 5.1.3.3 Other Elements
    • 5.1.4 Dysprosium
    • 5.1.5 Terbium
    • 5.1.6 Yttrium
    • 5.1.7 Scandium
    • 5.1.8 Other Elements
  • 5.2 Application
    • 5.2.1 Catalysts
    • 5.2.2 Ceramics
    • 5.2.3 Phosphors
    • 5.2.4 Glass and Polishing
    • 5.2.5 Metallurgy
    • 5.2.6 Magnets
    • 5.2.7 Other Applications
  • 5.3 Geography
    • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 India
    • 5.3.1.3 Japan
    • 5.3.1.4 South Korea
    • 5.3.1.5 Rest of Asia-Pacific
    • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
    • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 France
    • 5.3.3.4 Italy
    • 5.3.3.5 Rest of Europe
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
    • 5.3.5 Middle East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 South Africa
    • 5.3.5.3 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Aluminum Corporation of China Ltd
    • 6.4.2 ARAFURA RESOURCES
    • 6.4.3 Avalon Advanced Materials Inc.
    • 6.4.4 Minmetals Land Limited
    • 6.4.5 China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd
    • 6.4.6 Eutectix
    • 6.4.7 Iluka Resources Limited
    • 6.4.8 Lynas Rare Earths Ltd
    • 6.4.9 MEDALLION RESOURCES LTD
    • 6.4.10 NORTHERN MINERALS
    • 6.4.11 Peak Resources
    • 6.4.12 Rare Element Resources Ltd
    • 6.4.13 Rio Tinto
    • 6.4.14 Shin-Etsu Chemical Co. Ltd
    • 6.4.15 Ucore Rare Metals Inc.
    • 6.4.16 Xiamen Tungsten Co. Ltd
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Increasing Scandium Usage in Aerospace Applications
**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Rare Earth Elements Industry Segmentation

Rare Earth elements are used in loudspeakers, telescope lenses, studio lighting, and computer hard drives to make them smaller and more efficient. They are used in screens and displays as they can produce different colors. Rare Earth elements usually have high electrical conductivity, naturally occurring together in minerals. They are the strongest magnets available today. 

The market is segmented by element, application, and geography. By element, the market is segmented into cerium, neodymium, lanthanum, dysprosium, terbium, yttrium and scandium, and other elements. By application, the market is segmented into catalysts, ceramics, phosphors, glass and polishing, metallurgy, magnets, and other applications. The report also covers the market sizes and forecasts for the rare earth elements market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done based on volume (ton).

Element Cerium Oxide
Sulfide
Other Elements
Neodymium Alloy
Lanthanum Alloy
Oxide
Other Elements
Dysprosium
Terbium
Yttrium
Scandium
Other Elements
Application Catalysts
Ceramics
Phosphors
Glass and Polishing
Metallurgy
Magnets
Other Applications
Geography Asia-Pacific China
India
Japan
South Korea
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Rest of Europe
South America Brazil
Argentina
Rest of South America
Middle East and Africa Saudi Arabia
South Africa
Rest of Middle East and Africa
Need A Different Region or Segment?
Customize Now

Rare Earth Elements Market Research FAQs

How big is the Rare Earth Elements Market?

The Rare Earth Elements Market size is expected to reach 182.36 kilotons in 2025 and grow at a CAGR of 4.19% to reach 223.91 kilotons by 2030.

What is the current Rare Earth Elements Market size?

In 2025, the Rare Earth Elements Market size is expected to reach 182.36 kilotons.

Who are the key players in Rare Earth Elements Market?

Iluka Resources Limited, Lynas Rare Earths, Ltd., Minmetals Land Limited, Rare Elements Resources Ltc. and Aluminum Corporation of China Ltd. are the major companies operating in the Rare Earth Elements Market.

Which is the fastest growing region in Rare Earth Elements Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Rare Earth Elements Market?

In 2025, the Asia-Pacific accounts for the largest market share in Rare Earth Elements Market.

What years does this Rare Earth Elements Market cover, and what was the market size in 2024?

In 2024, the Rare Earth Elements Market size was estimated at 174.72 kilotons. The report covers the Rare Earth Elements Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Rare Earth Elements Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Rare Earth Elements Industry Report

The rare earth metals market, particularly in the Asia-Pacific region and China, is projected to experience significant growth due to the increasing use of rare-earth elements in various applications, including the production of permanent magnets, consumer durables such as tablets, laptops, and smartphones, and electric vehicles. However, market growth could be hindered by the high cost of these minerals and the monopoly of China-based manufacturers. Opportunities for recycling and reuse of rare-earth metals present a potential secondary source of supply and positive environmental impact. Mordor Intelligence™ Industry Reports provide statistics for the Rare Earth Elements market share, size, and revenue growth rate, including a market forecast outlook and a historical overview. A sample of this industry analysis is available as a PDF download.