Alkali and Rare Earth Metals Market

The global market for alkali or alkaline-earth metals, rare-earth metals, scandium, yttrium, and mercury is projected to continue growing over the next eight years. Consumption increased by 29% in 2022, reaching 246K tons. The market value is expected to reach $3.1B by 2030. Japan, the United States, and France were the highest consumers in 2022. Production also increased by 15%, with China leading as the largest producer. Imports and exports saw growth as well, with China as the key exporter. Prices for imports and exports varied among countries, with Thailand having the highest export price.

Market Forecast

Driven by increasing demand for alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.9% for the period from 2022 to 2030, which is projected to bring the market volume to 265K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market value to $3.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury

For the third year in a row, the global market recorded growth in consumption of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury, which increased by 29% to 246K tons in 2022. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +44.7% against 2019 indices. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

The revenue of the market for alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury worldwide surged to $2.6B in 2022, jumping by 40% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +42.1% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Japan (27K tons), the United States (24K tons) and France (22K tons), together comprising 30% of global consumption. India, Malaysia, China, Russia, Canada, Germany, Myanmar, Pakistan, Nigeria and Indonesia lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +38.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($634M) led the market, alone. The second position in the ranking was taken by Malaysia ($181M). It was followed by France.

In Japan, the alkali and rare earth metals market increased at an average annual rate of +5.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Malaysia (+24.1% per year) and France (+20.8% per year).

The countries with the highest levels of alkali and rare earth metals per capita consumption in 2022 were Malaysia (335 kg per 1000 persons), France (331 kg per 1000 persons) and Japan (216 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Nigeria (with a CAGR of +35.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury

For the third year in a row, the global market recorded growth in production of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury, which increased by 15% to 193K tons in 2022. Overall, the total production indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +97.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Global production peaked in 2022 and is expected to retain growth in years to come.

In value terms, alkali and rare earth metals production expanded slightly to $1.6B in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 22%. Over the period under review, global production attained the peak level at $1.7B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

China (74K tons) remains the largest alkali and rare earth metals producing country worldwide, comprising approx. 39% of total volume. Moreover, alkali and rare earth metals production in China exceeded the figures recorded by the second-largest producer, France (17K tons), fourfold. Nigeria (17K tons) ranked third in terms of total production with an 8.9% share.

In China, alkali and rare earth metals production expanded at an average annual rate of +4.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (+703.1% per year) and Nigeria (+24.6% per year).

Imports

World Imports of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury

In 2022, overseas purchases of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury increased by 42% to 160K tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, alkali and rare earth metals imports skyrocketed to $1.8B in 2022. In general, imports recorded tangible growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

The United States (27K tons) and Japan (27K tons) were the major importers of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury in 2022, resulting at near 17% and 17% of total imports, respectively. India (14K tons) took an 8.9% share (based on physical terms) of total imports, which put it in second place, followed by France (7.3%), Malaysia (6.9%) and Canada (4.6%). Germany (7.1K tons), Myanmar (6.1K tons), the Netherlands (5.3K tons), the UK (4.3K tons), Italy (4.1K tons) and Turkey (2.6K tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +60.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($632M) constitutes the largest market for imported alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury worldwide, comprising 36% of global imports. The second position in the ranking was held by Germany ($173M), with a 9.8% share of global imports. It was followed by Malaysia, with a 9.4% share.

In Japan, alkali and rare earth metals imports expanded at an average annual rate of +4.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+11.0% per year) and Malaysia (+25.6% per year).

Import Prices By Country

In 2022, the average import price for alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury amounted to $11,016 per ton, increasing by 11% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 12% against the previous year. Global import price peaked at $11,102 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($24,344 per ton), while Myanmar ($563 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury

In 2022, overseas shipments of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury increased by 20% to 107K tons, rising for the second year in a row after two years of decline. Overall, exports, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 27% against the previous year. The global exports peaked at 137K tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, alkali and rare earth metals exports soared to $1.2B in 2022. In general, exports, however, recorded a mild decline. The most prominent rate of growth was recorded in 2021 when exports increased by 65%. The global exports peaked at $1.3B in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China represented the key exporter of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury in the world, with the volume of exports resulting at 65K tons, which was approx. 61% of total exports in 2022. It was distantly followed by Nigeria (12K tons) and France (6.5K tons), together comprising a 17% share of total exports. The United States (4.3K tons), Belgium (4.1K tons), the Netherlands (3K tons), Bahrain (2.1K tons) and Thailand (1.9K tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, France (+76.8%), Thailand (+37.3%), Bahrain (+36.9%), Nigeria (+21.2%) and Belgium (+6.9%) displayed positive paces of growth. Moreover, France emerged as the fastest-growing exporter exported in the world, with a CAGR of +76.8% from 2012-2022. By contrast, the Netherlands (-1.4%) and the United States (-14.5%) illustrated a downward trend over the same period. While the share of China (+35 p.p.), Nigeria (+10 p.p.), France (+6 p.p.), Belgium (+2.3 p.p.), Bahrain (+1.9 p.p.) and Thailand (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the United States (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($721M) remains the largest alkali and rare earth metals supplier worldwide, comprising 62% of global exports. The second position in the ranking was taken by Thailand ($148M), with a 13% share of global exports. It was followed by France, with a 5.3% share.

In China, alkali and rare earth metals exports expanded at an average annual rate of +8.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+43.7% per year) and France (+56.5% per year).

Export Prices By Country

In 2022, the average export price for alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury amounted to $10,884 per ton, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 33%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($78,458 per ton), while Belgium ($316 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+191.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform