Global Rare Earth Metal Market 2022

Rare Earth Metal Market Size

For the fifth consecutive year, the global rare earth metal market recorded growth in sales value, which increased by X% to $X in 2020. In general, the total consumption indicated perceptible growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2017 when the market value increased by X% against the previous year. Over the period under review, the global market hit record highs in 2020 and is expected to retain growth in years to come.

Rare Earth Metal Production

In value terms, rare earth metal production surged to $X in 2020 estimated in export prices. Over the period under review, production showed a resilient increase. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, global production attained the maximum level at $X in 2012; however, from 2013 to 2020, production stood at a somewhat lower figure.

Production By Country

China (X tonnes) constituted the country with the largest volume of rare earth metal production, comprising approx. X% of total volume. Moreover, rare earth metal production in China exceeded the figures recorded by the second-largest producer, Myanmar (X tonnes), fivefold. The third position in this ranking was occupied by the U.S. (X tonnes), with a X% share.

From 2007 to 2020, the average annual growth rate of volume in China stood at +X%. The remaining producing countries recorded the following average annual rates of production growth: Myanmar (+X% per year) and the U.S. (+X% per year).

Rare Earth Metal Exports

Exports

In 2020, the amount of rare earth metals exported worldwide declined to X tonnes, shrinking by -X% against 2019. In general, exports showed a mild decline. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Global exports peaked at X tonnes in 2015; however, from 2016 to 2020, exports stood at a somewhat lower figure.

In value terms, rare earth metal exports fell to $X in 2020. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when exports increased by X% year-to-year. As a result, exports reached the peak of $X. from 2012 to 2020, the growth of global exports failed to regain the momentum.

Exports by Country

China represented the major exporter of rare earth metals in the world, with the volume of exports reaching X tonnes, which was approx. X% of total exports in 2020. Australia (X tonnes) held the second position in the ranking, followed by Vietnam (X tonnes) and Thailand (X tonnes). All these countries together occupied near X% share of total exports. The Netherlands (X tonnes) followed a long way behind the leaders.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand, while exports for the other global leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and Australia ($X) were the countries with the highest levels of exports in 2020, together accounting for X% of global exports. Thailand and the Netherlands lagged somewhat behind, together comprising a further X recorded 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

In 2020, the average rare earth metal export price amounted to $X per tonne, flattening at the previous year. In general, the export price posted mild growth. The pace of growth appeared the most rapid in 2011 when the average export price increased by X% year-to-year. Over the period under review, average export prices hit record highs at $X per tonne in 2012; however, from 2013 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Thailand ($X per tonne), while China ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Australia, while the other global leaders experienced mixed trends in the export price figures.

Rare Earth Metal Imports

Imports

In 2020, overseas purchases of rare earth metals decreased by -X% to X tonnes, falling for the second year in a row after three years of growth. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Global imports peaked at X tonnes in 2018; however, from 2019 to 2020, imports remained at a lower figure.

In value terms, rare earth metal imports shrank to $X in 2020. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. from 2012 to 2020, the growth of global imports remained at a lower figure.

Imports by Country

Malaysia represented the key importer of rare earth metals in the world, with the volume of imports finishing at X tonnes, which was approx. X% of total imports in 2020. It was distantly followed by Japan (X tonnes), generating a X% share of total imports. The following importers - Vietnam (X tonnes) and Norway (X tonnes) - each accounted for a X% share of total imports.

From 2007 to 2020, average annual rates of growth with regard to rare earth metal imports into Malaysia stood at +X%. At the same time, Vietnam (+X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2020. By contrast, Norway (-X%) and Japan (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Malaysia and Vietnam increased by +X% and +X% percentage points, while Norway (-X p.p.) and Japan (-X p.p.) saw their share reduced.

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

In Japan, rare earth metal imports plunged by an average annual rate of -X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Malaysia (+X% per year) and Vietnam (+X% per year).

Import Prices by Country

In 2020, the average rare earth metal import price amounted to $X per tonne, shrinking by -X% against the previous year. In general, the import price recorded a noticeable reduction. The pace of growth appeared the most rapid in 2011 an increase of X% year-to-year. As a result, import price reached the peak level of $X per tonne. from 2012 to 2020, the growth in terms of the average import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($X per tonne), while Malaysia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Japan, while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform