Gadolinium Market Size & Share, by Type (Gadolinium Acetate, Gadolinium Acetylacetonate, Gadolinium Oxide, Gadolinium Nitrate, Gadolinium Chloride); Application - Global Supply & Demand Analysis, Growth Forecasts, Statistical Report 2025-2037

North America Market Forecast

North America in gadolinium market is expected to account for more than 42.4% revenue share by the end of 2037. The strong presence of advanced healthcare facilities and continuous advancement in medical diagnosis technologies is primarily fueling gadolinium sales. The electric vehicle trend and increasing importance of renewable energy systems are foreseen to double the revenues of gadolinium manufacturers in the years ahead. The U.S. and Canada with the existence of leading end users are backing the overall sales of gadolinium.

In the U.S., the growing popularity and registrations of zero-emission vehicles are set to increase the demand for gadolinium. Innovations in energy storage systems and the integration of advanced materials are poised to propel the sales of gadolinium and its derivatives. For instance, the IEA study highlights that the U.S. holds a dominating share in global EV sales. The same source also reveals that the U.S. and Europe are leading markets for electric vehicle batteries and are increasing at 40% YoY growth. In the year 2023, the electrical vehicle battery demand stood at around 99 GWh.

Canada’s increasing focus on nuclear power generation is expected to offer lucrative opportunities for gadolinium producers. In the years ahead, the growing importance of renewable energy solutions and investments in nuclear energy generation plants are set to uplift the overall gadolinium market growth. For instance, according to the Canadian Nuclear Safety Commission currently, there are 4 active plants in 2 provinces housing 22 nuclear power reactors and contributing to around 15.0% of the total electricity production. The top nuclear energy generating plants are Bruce Nuclear Generating Station, Pickering Nuclear Generating Station, and Darlington Nuclear Generating Station operating in Ontario, and Point Lepreau Generating Station in New Brunswick.

Asia Pacific Market Statistics

The Asia Pacific gadolinium market is estimated to increase at the fastest CAGR throughout the assessed period. The expanding industrial activities in the region are primarily driving the overall sales of gadolinium. The rise in foreign direct investments and favorable government policies in terms of renewable energy production is further backing the gadolinium trade. The electric vehicle production and supply are set to substantially influence the consumption of gadolinium in China, India, Japan, and South Korea.

China’s dominance in the electric vehicle market is likely to push the sales of gadolinium and its derivatives. The country is consistently influencing overall zero-emission vehicle sales by majorly focusing on production. The innovations in EV and energy storage batteries are promoting the consumption of gadolinium components. For instance, the IEA report states that in the first quarter of 2024, Chinese electric car sales reached 1.9 million. In 2023, the EV battery demand in China stood at 417 GWh.

The rapid advancements in the nuclear field are anticipated to uplift India’s position in the global landscape in the coming years. The increasing investments in nuclear energy production are estimated to propel the demand for gadolinium components. For instance, the World Nuclear Association reveals that the country has around 23 operable nuclear reactors with 7,425 Mwe and 7 reactors with 5,398 Mwe under construction. The Nuclear Energy Mission under the Viksit Bharat Programme is further set to drive the gadolinium trade during the foreseeable period.

Source: World Nuclear Association