ASEAN: Rare Earth Metal Market 2024

Rare Earth Metal Market Size in ASEAN

The ASEAN rare earth metal market surged to $X in 2022, growing by X% against the previous year. In general, consumption continues to indicate a strong increase. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Rare Earth Metal Production in ASEAN

In value terms, rare earth metal production reached $X in 2022 estimated in export price. Over the period under review, production enjoyed moderate growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Rare Earth Metal Exports

Exports in ASEAN

In 2022, approx. X tons of rare earth metals were exported in ASEAN; reducing by X% against the year before. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, rare earth metal exports soared to $X in 2022. Overall, exports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, Vietnam (X tons) represented the major exporter of rare earth metals, making up X% of total exports. It was distantly followed by Thailand (X tons), creating a X% share of total exports. Malaysia (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, picking up by X% against the previous year. Overall, the export price posted modest growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Rare Earth Metal Imports

Imports in ASEAN

In 2022, overseas purchases of rare earth metals increased by X% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, rare earth metal imports surged to $X in 2022. Overall, imports recorded significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Malaysia prevails in imports structure, recording X tons, which was near X% of total imports in 2022. It was distantly followed by Vietnam (X tons), achieving a X% share of total imports. Thailand (X tons) took a relatively small share of total imports.

Imports into Malaysia increased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Malaysia and Thailand increased by X and X percentage points, respectively.

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

In Malaysia, rare earth metal imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price, however, recorded a notable increase. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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