Austria: Rare Earth Metal Market 2024

Rare Earth Metal Market Size in Austria

In 2021, the Austrian rare earth metal market increased by 91% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a deep reduction. Rare earth metal consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Rare Earth Metal Production in Austria

In value terms, rare earth metal production surged to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt decrease. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Rare Earth Metal Exports

Exports from Austria

In 2021, rare earth metal exports from Austria contracted notably to X kg, dropping by -89.6% on the year before. Over the period under review, exports recorded a precipitous shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 64% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, rare earth metal exports shrank significantly to $X in 2021. Overall, exports faced a significant decline. The most prominent rate of growth was recorded in 2019 with an increase of 182%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X kg) was the main destination for rare earth metal exports from Austria, accounting for a 76% share of total exports. Moreover, rare earth metal exports to the UK exceeded the volume sent to the second major destination, France (X kg), ninefold. The third position in this ranking was held by Ukraine (X kg), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume to the UK stood at -41.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-31.1% per year) and Ukraine (+31.6% per year).

In value terms, the UK ($X) remains the key foreign market for rare earth metals exports from Austria, comprising 44% of total exports. The second position in the ranking was held by France ($X), with a 20% share of total exports. It was followed by the United States, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to -41.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+23.0% per year) and the United States (-32.8% per year).

Export Prices by Country

The average rare earth metal export price stood at $X per ton in 2021, which is down by -12.7% against the previous year. Overall, the export price, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2018 an increase of 281%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+155.3%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Earth Metal Imports

Imports into Austria

In 2021, approx. X tons of rare earth metals were imported into Austria; picking up by 287% against the previous year's figure. In general, imports, however, saw a sharp downturn. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, rare earth metal imports soared to $X in 2021. Overall, imports, however, saw a dramatic setback. The growth pace was the most rapid in 2019 with an increase of 273%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest rare earth metal supplier to Austria, with a 69% share of total imports. Moreover, rare earth metal imports from China exceeded the figures recorded by the second-largest supplier, Germany (X kg), fourfold. The third position in this ranking was taken by the Netherlands (X kg), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +405.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+100.6% per year) and the Netherlands (+206.4% per year).

In value terms, China ($X) constituted the largest supplier of rare earth metals to Austria, comprising 91% of total imports. The second position in the ranking was taken by Germany ($X), with a 4.3% share of total imports. It was followed by the UK, with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +253.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+24.8% per year) and the UK (-42.9% per year).

Import Prices by Country

In 2021, the average rare earth metal import price amounted to $X per ton, which is down by -19% against the previous year. In general, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of 105%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-30.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :