Global Rare Earth Elements Market Size & Outlook
Global rare earth elements market, 2018-2030 (US$M)
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Global rare earth elements market highlights
- The global rare earth elements market generated a revenue of USD 3,949.9 million in 2024 and is expected to reach USD 6,278.4 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 8.6% by 2030.
- In terms of segment, neodymium accounted for a revenue of USD 1,695.6 million in 2024.
- Samarium is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, U.S. is expected to register the highest CAGR from 2025 to 2030.
Global data book summary
| Market revenue in 2024 | USD 3,949.9 million |
| Market revenue in 2030 | USD 6,278.4 million |
| Growth rate | 8.6% (CAGR from 2025 to 2030) |
| Largest segment | Neodymium |
| Fastest growing segment | Samarium |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Cerium, Dysprosium, Erbium, Europium, Gadolinium, Holmium, Lanthanum, Lutetium, Neodymium, Praseodymium, Promethium, Samarium, Scandium, Terbium, Thulium, Ytterbium, Yttrium |
Other key industry trends
- In terms of revenue, the North America accounted for 2.2% of the global rare earth elements market in 2024.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 135.0 million by 2030.
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Rare Earth Elements Market Scope
Rare Earth Elements Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Northern Minerals | View profile | 51-100 | Perth, Western Australia, Australia, Oceania | http://northernminerals.com.au/ |
| Iluka Resources Ltd | View profile | 5001-10000 | Perth, Western Australia, Australia, Oceania | http://www.iluka.com |
| Hitachi Metals | View profile | 10001+ | Minato, Chiba, Japan, Asia | http://www.hitachi-metals.co.jp |
| China Northern Rare Earth High-Tech | View profile | 5001-10000 | Baotou, Nei Mongol, China, Asia | http://www.reht.com |
| Alkane Res | View profile | 51-100 | Dubbo, New South Wales, Australia, Oceania | http://www.alkane.com.au/ |
| Ucore Rare Metals | View profile | 11-50 | Bedford, Nova Scotia, Canada, North America | http://ucore.com/ |
| Rare Element Resources | View profile | 11-50 | Lakewood, Colorado, United States, North America | http://www.rareelementresources.com/ |
| Energy Transition Minerals Ltd | View profile | 28 | 111 Collins Street, Level 6, Melbourne, VIC, Australia, 3000 | https://www.etransmin.com |
| Avalon Advanced Materials Inc | View profile | 9 | 130 Adelaide Street West, Suite 1901, Toronto, ON, Canada, M5H 3P5 | https://www.avalonadvancedmaterials.com |
| Arafura Rare Earths Ltd | View profile | 6 | 432 Murray Street, Level 6, Perth, WA, Australia, 6000 | https://www.arultd.com |
| Lynas Rare Earths Ltd | View profile | 911 | 1 Howard Street, Level 4, Perth, WA, Australia, 6000 | https://www.lynascorp.com |
| Shin-Etsu Chemical Co Ltd | View profile | 25717 | 6-1, Ohtemachi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-0004 | http://www.shinetsu.co.jp |
Global rare earth elements market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to rare earth elements market will help companies and investors design strategic landscapes.
Neodymium was the largest segment with a revenue share of 42.93% in 2024. Horizon Databook has segmented the Global rare earth elements market based on cerium, dysprosium, erbium, europium, gadolinium, holmium, lanthanum, lutetium, neodymium, praseodymium, promethium, samarium, scandium, terbium, thulium, ytterbium, yttrium covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Rare Earth Elements Product Outlook (Revenue, USD Million, 2018-2030)
- Cerium
- Dysprosium
- Erbium
- Europium
- Gadolinium
- Holmium
- Lanthanum
- Lutetium
- Neodymium
- Praseodymium
- Promethium
- Samarium
- Scandium
- Terbium
- Thulium
- Ytterbium
- Yttrium
- Global Rare Earth Elements Application Outlook (Revenue, USD Million, 2018-2030)
- Magnets
- Catalysts
- Polishing
- Metallurgy
- Battery alloys
- Glass
- Phosphors
- Ceramics
- Others
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Horizon Databook provides a detailed overview of global-level data and insights on the Global rare earth elements market , including forecasts for subscribers. This global databook contains high-level insights into Global rare earth elements market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global rare earth elements market size, by regions, 2018-2030 (US$M)
Top 10 countries: Rare earth elements market size, 2024 (US$M)
Global rare earth elements market share, by product, 2024 & 2030 (%, US$M)
Rare earth elements market: Opportunity assessment by country
Global rare earth elements market, by region, 2024 (US$M)
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