Latest Report Update: Sep 18, 2021

World - Rare Earth Metals - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact

Licenses

You will receive a PDF copy of the report by email within 24 hours (Mon - Fri).

By clicking «Buy the Report», you agree to our Terms of Service, Privacy Policy and Licenses. We'll occasionally send you account related emails.

Article Publishing Date: Aug 17, 2021

New Rare Earth Mining Projects to Weaken China's Leading Market Hold

IndexBox has just published a new report: 'World - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

The global demand for rare earths is continuing to increase. Countries remain reliant on China, which currently provides approx. 55% of global rare earth production. Future projects to develop mining facilities in Russia, the U.S., Japan and Australia may yet weaken China's leading market hold. The rare earth mineral market is to accelerate on robustly increasing demand from the microelectronics, electric vehicle, wind power and high-tech industries.

Key Trends and Insights

Global rare earth mineral output continues to increase. According to USGS data, global production in 2020 reached 240К tonnes (+9% y-o-y). China leads the output of rare earth minerals, with a figure of 140К tonnes in 2020 (+6% y-o-y). In addition, China boasts the largest confirmed rare earth mineral reserves in the world (44М tonnes). Output is also on the rise in the U.S. (+35.7% y-o-y), Brazil (+40.8% y-o-y), Myanmar (+20% y-o-y), Burundi (+150% y-o-y), India (+3.4% y-o-y), and Madagascar (+100% y-o-y).

The substantial dependence on China, which accounts for 55% of global rare earth production, makes other countries strategically vulnerable: these minerals are widely used in the semiconductor industry, nuclear engineering, mechanical engineering, the chemical industry and metallurgy. China's decision to restrict exports of rare earth minerals to any particular country could have a serious impact, particularly in terms of their hi-tech industries. 

The planned construction of new facilities in several countries worldwide should alleviate the global reliance on Chinese exports. The most significant confirmed reserves are recognized in Vietnam (22М tonnes), Brazil (21М tonnes), Russia (12М tonnes), India (6.9М tonnes), Australia (4.1М tonnes), the U.S. (1.5М tonnes) and Greenland (1.5М tonnes). Given these considerable resources, a shortage of rare earth minerals is not envisaged in the medium term, but it will require tangible investments to make the substantial increase in production feasible.

The Russian government intends to increase its share of production on the global market from 1.3% to 10% by 2030. Investment currently stands at $1.5В and is being directed into 11 rare earth development projects; mining taxes and loan interest rates for involved businesses are being cut. 

The U.S., Sweden, Japan, Tanzania, Namibia, Angola, South Africa, South Korea and Australia have also announced plans to establish new production facilities. The construction of a mining facility at one of the world's largest deposits in Greenland could impact significantly on the global rare earths market. Despite the extensive potential, the resistance from residents regarding the possible threat to the environment has prevented the project from moving forward. 

In 2021, Canada launched its first rare earth mining enterprise. The projected output of the Canadian plant is set to reach 5K tonnes of contained rare earth oxides by 2025.

The rare earth metal market is forecast to expand to 313K tonnes by 2030. Demand for rare earth magnets from expanding electric vehicle, electronic and wind power industries will be the main market driver. The use of these metals in low-carbon technologies should further stimulate their consumption. 

Global Rare Earth Metal Production

In 2020, global rare earth metal production expanded modestly to 252K tonnes, growing by +2.9% against the previous year. In value terms, rare earth metal production fell to $10.6B in 2020 estimated at export prices. 

China (140K tonnes) remains the largest rare earth metal producing country worldwide, accounting for 55% of total volume. Moreover, rare earth metal production in China exceeded the figures recorded by the second-largest producer, Australia (38K tonnes), fourfold. Myanmar (30K tonnes) ranked third in terms of total production with a 12% share.

In 2020, the average annual rate of growth in terms of volume in China stood at +6.1%. The remaining producing countries recorded the following average annual rates of production growth: Australia (-6.5% per year) and Myanmar (+20.0% per year).

Global Rare Earth Metal Imports

In 2020, the amount of rare earth metals imported worldwide shrank to 12K tonnes, waning by -14.1% compared with the previous year's figure. In value terms, rare earth metal imports reduced sharply to $286M (IndexBox estimates) in 2020. 

Japan dominates rare earth metal import structure, amounting to 6.8K tonnes, which was approx. 59% of total imports in 2020. Viet Nam (839 tonnes) held the second position in the ranking, followed by Austria (729 tonnes) and Norway (559 tonnes). All these countries together held approx. 18% share of total imports. Thailand (513 tonnes), India (423 tonnes), the U.S. (301 tonnes), Spain (217 tonnes) and Germany (195 tonnes) followed a long way behind the leaders.

In value terms, Japan ($202M) constitutes the largest market for imported rare earth metals worldwide, comprising 70% of global imports. The second position in the ranking was occupied by Thailand ($22M), with a 7.7% share of global imports. It was followed by Viet Nam, with a 4.4% share.

The average rare earth metal import price stood at $24,706 per tonne in 2020, shrinking by -3.7% against the previous year. In 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Product coverage:

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 2025.



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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

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
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption, By Country, 2018–2020
Table 5:
Production, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Physical Terms, By Country, 2007–2020
Table 7:
Imports, In Value Terms, By Country, 2007–2020
Table 8:
Import Prices, By Country Of Destination, 2007–2020
Table 9:
Exports, In Physical Terms, By Country, 2007–2020
Table 10:
Exports, In Value Terms, By Country, 2007–2020
Table 11:
Export Prices, By Country Of Origin, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Consumption, By Country, 2020
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2020
Figure 17:
Production, In Value Terms, 2007–2020
Figure 18:
Production, By Country, 2020
Figure 19:
Production, In Physical Terms, By Country, 2007–2020
Figure 20:
Imports, In Physical Terms, 2007–2020
Figure 21:
Imports, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, By Country, 2020
Figure 23:
Imports, In Physical Terms, By Country, 2007–2020
Figure 24:
Imports, In Value Terms, By Country, 2007–2020
Figure 25:
Import Prices, By Country, 2007–2020
Figure 26:
Exports, In Physical Terms, 2007–2020
Figure 27:
Exports, In Value Terms, 2007–2020
Figure 28:
Exports, In Physical Terms, By Country, 2020
Figure 29:
Exports, In Physical Terms, By Country, 2007–2020
Figure 30:
Exports, In Value Terms, By Country, 2007–2020
Figure 31:
Export Prices, 2007–2020

Webinar: Global Lithium Market - Statistics, Trends, and Outlook



Join our live webinar to get insights into the global lithium carbonate market.



Thursday, September 30th, 2021 @ 04:00 pm ET


Register

Webinar: Global Recovered Paper Market - Statistics, Trends, and Outlook



Join our live webinar to get insights into the global recovered paper market.



Thursday, October 7th, 2021 @ 04:00 pm ET


Register

Webinar: Global Biomass Market - Statistics, Regulation, and Outlook



Join our live webinar to get insights into the global biomass market.



Thursday, October 14th, 2021 @ 04:00 pm ET


Register
Ready to Get Started?
We can help you conduct market research and write a report using the most reliable data