Rare Earth Metals Market Size

Rare Earth Metals Market size was valued at USD 11.78 billion in 2024 and is set to reach USD 33.5 billion by the end of 2037, expanding at around 8.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of rare earth metals is assessed at USD 12.57 billion. Mining and processing rare earth metals can have significant environmental impacts, leading to concerns over sustainable practices in the industry. Various efforts have been made to improve environmental regulations and responsible mining practices. The market can have geopolitical implications due to their strategic importance in various industries. Countries may use export restrictions or tariffs as a political tool, affecting global supply chains and prices.

Rare earth metals are a group of seventeen elements found in the periodic table. They possess unique properties that make them crucial components in various technological applications, including electronics, magnets, renewable energy technologies, defense systems, and more. The market has experienced price volatility in the past, partly due to China's control over supply. As demand for rare earth metals increases with the growth of technology sectors, prices can fluctuate based on supply availability and geopolitical factors.