World Rare Earths
Growth in the world market for rare earths will rise 3.5% per year through 2019 in volume terms. Advances will be driven by increased production of neodymium magnets and nickel-metal hydride (Ni-MH) batteries used in hybrid and electric vehicles (H/EVs). Upgrades to oil refineries and related expansions in catalytic cracking capacity will also fuel gains.
This report segments the world rare earths industry by Product and Market. Historical data and forecasts for rare earths mine production are also included for each major country. Data is provided in metric tons and in million US dollars.
Major rare earth products include:
Cerium is the leading rare earth product, supported by its low cost, versatility, and diverse range of end uses. The fastest growth will be for neodymium and praseodymium, boosted by rising global output of neodymium-iron-boron permanent magnets.
Key markets for rare earths are:
• Permanent Magnets
• Glass, Polishing, & Ceramics
• Fluid Cracking Catalysts (FCCs)
• Metal Processing
• Battery Alloys
Permanent magnets were the leading outlet in 2014. The most rapid gains through 2019 are forecast for the battery alloys market, spurred by rising production of Ni-MH batteries for consumer electronic and H/EV applications.
World regions and countries covered in the study include:
• North America
• Western Europe
• Central & South America
• Eastern Europe
The Asia/Pacific region will remain by far the largest consumer of rare earths, accounting for over 80% of global demand in 2019. Sales will be dominated by the massive Chinese market, due to strong growth in the country’s output of permanent magnets, FCCs, battery alloys, and autocatalysts.
The largest suppliers of rare earths are all state-owned conglomerates in China that operate mining, separation, and refining facilities in the country. The world’s top suppliers in 2014 included Aluminum Corporation of China (Chinalco), China Minmetals, China Northern Rare Earth Group High-Tech, Ganzhou Rare Earth Group, China Nonferrous Metal Industry’s Foreign Engineering and Construction, Jiangxi Copper, Lynas, Molycorp, Solvay, and Xiamen Tungsten.