Report Update May 13, 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

The global rare earth metal market declined to $X in 2023, with a decrease of X% against the previous year. In general, consumption, however, continues to indicate a moderate increase. Global consumption peaked at $X in 2022, and then dropped in the following year.

Rare Earth Metal Production

In value terms, rare earth metal production declined modestly to $X in 2023 estimated in export price. Overall, production, however, continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Global production peaked at $X in 2020; afterwards, it flattened through to 2023.

Rare Earth Metal Exports

Exports

After two years of growth, overseas shipments of rare earth metals decreased by X% to X tons in 2023. In general, exports, however, recorded tangible growth. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank significantly in the following year.

In value terms, rare earth metal exports fell significantly to $X in 2023. Over the period under review, exports, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the global exports attained the maximum at $X in 2022, and then contracted rapidly in the following year.

Exports by Country

China was the major exporting country with an export of around X tons, which accounted for X% of total exports. Vietnam (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%).

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of China, Thailand and Vietnam increased by X, X and X percentage points, while 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 China ($X), Vietnam ($X) and Thailand ($X), with a combined X% share of global exports.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average rare earth metal export price stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The global export price peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other global leaders experienced mixed trends in the export price figures.

Rare Earth Metal Imports

Imports

After two years of growth, overseas purchases of rare earth metals decreased by X% to X tons in 2023. Over the period under review, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Global imports peaked at X tons in 2022, and then declined markedly in the following year.

In value terms, rare earth metal imports declined notably to $X in 2023. Overall, imports, however, recorded a slight increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, global imports hit record highs at $X in 2022, and then dropped dramatically in the following year.

Imports by Country

Malaysia represented the largest importer of rare earth metals in the world, with the volume of imports recording X tons, which was near X% of total imports in 2023. It was distantly followed by Japan (X tons), making up a X% share of total imports. India (X tons) held a relatively small share of total imports.

Malaysia was also the fastest-growing in terms of the rare earth metals imports, with a CAGR of X% from 2012 to 2023. At the same time, India (X%) displayed positive paces of growth. By contrast, Japan (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) significantly strengthened its position in terms of the global imports, while Japan saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in Japan totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and India (X% per year).

Import Prices by Country

The average rare earth metal import price stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the import price recorded a pronounced setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Global import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
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. 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. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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
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