CIS: Rare Earth Metal Market 2024

Rare Earth Metal Market Size in CIS

In 2022, the CIS rare earth metal market increased by X% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, showed a mild decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Rare Earth Metal Production in CIS

In value terms, rare earth metal production contracted slightly to $X in 2022 estimated in export price. In general, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Rare Earth Metal Exports

Exports in CIS

In 2022, exports of rare earth metals in the CIS shrank notably to X tons, falling by X% on the previous year. In general, exports showed a deep contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then contracted sharply in the following year.

In value terms, rare earth metal exports shrank sharply to $X in 2022. Over the period under review, exports saw a abrupt setback. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

Russia was the largest exporter of rare earth metals in the CIS, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Kazakhstan (X tons), committing a X% share of total exports.

Russia was also the fastest-growing in terms of the rare earth metals exports, with a CAGR of X% from 2012 to 2022. Kazakhstan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia increased by X percentage points.

In value terms, Russia ($X) remains the largest rare earth metal supplier in the CIS, comprising X% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia amounted to X%.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, saw perceptible growth. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. The level of export peaked at $X per ton in 2021, and then contracted significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Kazakhstan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%).

Rare Earth Metal Imports

Imports in CIS

In 2022, supplies from abroad of rare earth metals decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, posted a temperate increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, rare earth metal imports reduced rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate temperate growth. The pace of growth was the most pronounced in 2016 when imports increased by X%. The level of import peaked at $X in 2021, and then contracted sharply in the following year.

Imports by Country

Russia was the main importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Kazakhstan (X tons), comprising an X% share of total imports. Belarus (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to rare earth metal imports into Russia stood at X%. At the same time, Kazakhstan (X%) and Belarus (X%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. While the share of Kazakhstan (X p.p.) and Belarus (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Russia totaled X%. In the other countries, the average annual rates were as follows: Kazakhstan (X% per year) and Belarus (X% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price saw a mild shrinkage. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Russia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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