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Report World - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

World - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights

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Global Rare Earth Metal Market 2024

Rare Earth Metal Market Size

In 2021, the global rare earth metal market decreased by -3.7% to $X for the first time since 2014, thus ending a six-year rising trend. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +77.3% against 2014 indices. Over the period under review, the global market reached the maximum level at $X in 2020, and then reduced slightly in the following year.

Rare Earth Metal Production

In value terms, rare earth metal production dropped to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 65% against the previous year. Global production peaked at $X in 2020, and then fell in the following year.

Rare Earth Metal Exports

Exports

In 2021, after two years of decline, there was significant growth in shipments abroad of rare earth metals, when their volume increased by 36% to X tons. Over the period under review, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 87%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the global exports remained at a lower figure.

In value terms, rare earth metal exports surged to $X in 2021. Overall, exports saw a tangible expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the key exporter of rare earth metals, achieving 49% of total exports. It was distantly followed by Australia (X tons), Vietnam (X tons) and Thailand (X tons), together constituting a 47% share of total exports.

Exports from China increased at an average annual rate of +14.2% from 2012 to 2021. At the same time, Thailand (+360.7%), Australia (+48.5%) and Vietnam (+9.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +360.7% from 2012-2021. While the share of Australia (+23 p.p.), China (+20 p.p.), Thailand (+4.8 p.p.) and Vietnam (+2.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest rare earth metal supplying countries worldwide were Vietnam ($X), Australia ($X) and China ($X), together comprising 82% of global exports. These countries were followed by Thailand, which accounted for a further 12%.

Thailand, with a CAGR of +567.2%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average rare earth metal export price amounted to $X per ton, jumping by 42% against the previous year. Overall, the export price, however, continues to indicate a noticeable downturn. The global export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+45.0%), while the other global leaders experienced a decline in the export price figures.

Rare Earth Metal Imports

Imports

In 2021, approx. X tons of rare earth metals were imported worldwide; picking up by 31% compared with 2020 figures. Over the period under review, imports, however, showed a relatively flat trend pattern. Global imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, rare earth metal imports soared to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, global imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) was the main importer of rare earth metals, creating 48% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a 22% share, followed by Norway (5.5%) and India (4.6%). The following importers - Thailand (X tons), the United States (X tons) and Brazil (X tons) - together made up 8.5% of total imports.

Imports into Japan decreased at an average annual rate of -3.0% from 2012 to 2021. At the same time, Thailand (+107.6%), Malaysia (+37.4%) and India (+1.4%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of +107.6% from 2012-2021. By contrast, Norway (-3.1%), the United States (-4.1%) and Brazil (-6.6%) illustrated a downward trend over the same period. While the share of Malaysia (+20 p.p.) and Thailand (+3.9 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Japan (-11.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported rare earth metals worldwide, comprising 61% of global imports. The second position in the ranking was taken by Malaysia ($X), with a 14% share of global imports. It was followed by Thailand, with a 7.2% share.

In Japan, rare earth metal imports shrank by an average annual rate of -2.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+31.0% per year) and Thailand (+69.0% per year).

Import Prices by Country

The average rare earth metal import price stood at $X per ton in 2021, increasing by 12% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 22%. Global import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.4%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of rare earth metal consumption was China, comprising approx. 49% of total volume. Moreover, rare earth metal consumption in China exceeded the figures recorded by the second-largest consumer, the United States, fourfold. Malaysia ranked third in terms of total consumption with a 12% share.
China constituted the country with the largest volume of rare earth metal production, comprising approx. 59% of total volume. Moreover, rare earth metal production in China exceeded the figures recorded by the second-largest producer, the United States, fivefold. Myanmar ranked third in terms of total production with a 12% share.
In value terms, the largest rare earth metal supplying countries worldwide were China, Vietnam and Thailand, with a combined 79% share of global exports.
In value terms, Japan constitutes the largest market for imported rare earth metals worldwide, comprising 58% of global imports. The second position in the ranking was occupied by Malaysia, with an 18% share of global imports. It was followed by Thailand, with a 6.9% share.
The average rare earth metal export price stood at $18,019 per ton in 2021, reducing by -19.2% against the previous year.
The average rare earth metal import price stood at $13,284 per ton in 2021, jumping by 28% against the previous year.

This report provides an in-depth analysis of the global rare earth metal market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

    + the largest producing countries

    Data coverage:

    • Global market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Global production, split by region and country
    • Global trade (exports and imports)
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. GLOBAL PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. GLOBAL IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. GLOBAL EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • United States
      • China
      • Japan
      • Germany
      • United Kingdom
      • France
      • Brazil
      • Italy
      • Russian Federation
      • India
      • Canada
      • Australia
      • Republic of Korea
      • Spain
      • Mexico
      • Indonesia
      • Netherlands
      • Turkey
      • Saudi Arabia
      • Switzerland
      • Sweden
      • Nigeria
      • Poland
      • Belgium
      • Argentina
      • Norway
      • Austria
      • Thailand
      • United Arab Emirates
      • Colombia
      • Denmark
      • South Africa
      • Malaysia
      • Israel
      • Singapore
      • Egypt
      • Philippines
      • Finland
      • Chile
      • Ireland
      • Pakistan
      • Greece
      • Portugal
      • Kazakhstan
      • Algeria
      • Czech Republic
      • Qatar
      • Peru
      • Romania
      • Vietnam

    12. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption, By Country, 2018–2023
      5. Production, In Physical Terms, By Country, 2012–2023
      6. Imports, In Physical Terms, By Country, 2012–2023
      7. Imports, In Value Terms, By Country, 2012–2023
      8. Import Prices, By Country Of Destination, 2012–2023
      9. Exports, In Physical Terms, By Country, 2012–2023
      10. Exports, In Value Terms, By Country, 2012–2023
      11. Export Prices, By Country Of Origin, 2012–2023

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Consumption, By Country, 2023
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2023
      18. Production, In Value Terms, 2012–2023
      19. Production, By Country, 2023
      20. Production, In Physical Terms, By Country, 2012–2023
      21. Imports, In Physical Terms, 2012–2023
      22. Imports, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, By Country, 2023
      24. Imports, In Physical Terms, By Country, 2012–2023
      25. Imports, In Value Terms, By Country, 2012–2023
      26. Import Prices, By Country, 2012–2023
      27. Exports, In Physical Terms, 2012–2023
      28. Exports, In Value Terms, 2012–2023
      29. Exports, In Physical Terms, By Country, 2023
      30. Exports, In Physical Terms, By Country, 2012–2023
      31. Exports, In Value Terms, By Country, 2012–2023
      32. Export Prices, 2012–2023

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