World Rare Earths

Growth will be driven by expanding production of advanced neodymium magnets, rising output of nickel-metal hydride batteries, and oil refining upgrades in emerging countries that will require fluid cracking catalysts.

World demand to rise 3.5% annually through 2019

Worldwide demand for rare earths is projected to increase 3.5 percent per annum to 149,500 metric tons in 2019, valued at $4.5 billion. The best prospects are forecast for the permanent magnets segment, boosted by expanding production of advanced neodymium magnets for applications such as wind turbines and hybrid and electric vehicles (H/EVs). Growing output of nickel-metal hydride (Ni-MH) batteries is also expected to boost rare earths consumption, although strong competition from sales of lithium-ion batteries will prevent faster market expansion. In addition, upgrades to oil refining sectors in emerging countries are projected to fuel global catalytic cracking capacity, supporting the production of fluid cracking catalysts and associated demand for lanthanum and cerium. Among other major markets, rising production of steel, motor vehicles, and electronics is expected to stimulate the consumption of rare earths. Ongoing weakness in rare earth prices is also expected to bolster demand volumes, promoting a shift back to rare earth-based catalysts, polishing powders, and other products that manufacturers abandoned amid the 2010-2012 price spike. Nevertheless, lingering wariness of price volatility will support the continued usage of alternative low- and zero-rare earth products, limiting stronger market advances through 2019.

China to remain dominant, India to post fastest gains

China is expected to remain the leading consumer of rare earths, accounting for two-thirds of global demand in 2019. Growth in the Chinese market will be stimulated by healthy increases in the country’s output of neodymium magnets, Ni-MH batteries, and refinery products. Japan will represent the second largest global market, benefiting from a large domestic electronics manufacturing sector, and robust demand for rare earths in the production of batteries, magnets, and polishing powders. The fastest gains of any major market worldwide are projected for India, where heightened domestic shipments of motor vehicles and metal alloys, as well as expanding catalytic cracking capacity, are expected to boost rare earths consumption. India is also developing local production of rare earth magnets, although this market will remain small in the near term.

Global supply to rebound despite weak prices

China will continue to account for the majority of rare earths mining output through 2019, although its share of total production is expected to drop as a number of new projects in Canada, Tanzania, South Africa, and other countries begin commercial production. Major output increases are also expected in Australia as Lynas continues to ramp up production following capacity expansions. However, junior mining companies will struggle to obtain investments for new ventures as rare earth prices remain depressed. Prices are expected to remain weak, due in part to rampant illegal mining in China.

Study coverage

This Freedonia industry industry analyzes the 125,900 metric ton world rare earths industry. The study presents historical demand data (2004, 2009 and 2014) and forecasts (2019 and 2024) by product (e.g., cerium, lanthanum, neodynmium, praseodymium, yttrium) and market (e.g., permanent magnets; glass, polishing, and ceramics; fluid cracking catalysts, metal processing, batter alloys, autocatalysts, phosphors) for six world regions and 13 major countries. The study also considers market environment factors, details industry structure, evaluates company market share, and profiles 30 industry players, including China Northern Rare Earth Group High-Tech, Ganzhou Rare Earth Group, and Aluminum Corporation of China.

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  1. World Rare Earths

    $6,300.00

    1. 1 INTRODUCTION

      $287.00

    2. 2 EXECUTIVE SUMMARY

      $165.00

      1. Table | WORLD RARE EARTHS DEMAND

    3. 3 MARKET ENVIRONMENT

      $2,430.00

      1. 3.1 General

        $82.00

      2. 3.2 World Economic Overview

        $276.00

        1. 3.2.1 Recent Historical Trends

          $82.00

        2. 3.2.2 World Economic Outlook

          $173.00

          1. Table | WORLD GROSS DOMESTIC PRODUCT BY REGION

      3. 3.3 World Demographic Outlook

        $135.00

        1. Table | WORLD POPULATION BY REGION

      4. 3.4 World Manufacturing Outlook

        $164.00

        1. Table | WORLD MANUFACTURING VALUE ADDED BY REGION

      5. 3.5 World Permanent Magnets Trends

        $124.00

        1. Table | WORLD PERMANENT MAGNET SHIPMENTS BY TYPE & REGION

      6. 3.6 World Petroleum Refining Outlook

        $135.00

        1. Table | WORLD REFINED PETROLEUM LIQUIDS PRODUCTION BY REGION

      7. 3.7 World Rechargeable Battery Outlook

        $113.00

        1. Table | WORLD RECHARGEABLE BATTERY SHIPMENTS BY REGION

      8. 3.8 World Crude Steel Production Trends

        $92.00

        1. Table | WORLD CRUDE STEEL PRODUCTION BY REGION

      9. 3.9 World Electronic Equipment Outlook

        $94.00

        1. Table | WORLD ELECTRONIC EQUIPMENT MANUFACTURING VALUE ADDED BY REGION

      10. 3.10 World Motor Vehicle Outlook

        $291.00

        1. 3.10.1 World Motor Vehicle Production Trends

          $180.00

          1. Table | WORLD MOTOR VEHICLE PRODUCTION BY TYPE & REGION

        2. 3.10.2 Hybrid & Electric Vehicles

          $94.00

          1. Table | WORLD HYBRID & ELECTRIC VEHICLE PRODUCTION BY TYPE & REGION

      11. 3.11 Technology

        $494.00

        1. Table | THE RARE EARTH ELEMENTS

        2. 3.11.1 Production & Processing Technologies

          $145.00

        3. 3.11.2 Emerging Technologies

          $82.00

        4. 3.11.3 Recycling

          $89.00

        5. 3.11.4 Competitive Materials

          $113.00

      12. 3.12 Pricing Trends

        $289.00

        1. Table | CHINA'S RARE EARTH EXPORT QUOTAS, 2004-2014*

        2. Table | WORLD RARE EARTH PRICES

        3. CHART II-1 WORLD RARE EARTH PRICES*, 2004-2024

      13. 3.13 Environmental & Regulatory Considerations

        $159.00

    4. 4 WORLD RARE EARTHS SUPPLY & DEMAND

      $2,939.00

      1. 4.1 General

        $82.00

      2. 4.2 Regional Overview

        $824.00

        1. 4.2.1 Demand

          $200.00

          1. Table | WORLD RARE EARTHS DEMAND BY REGION

          2. CHART III-1 WORLD RARE EARTHS DEMAND, 2004-2014

        2. 4.2.2 Production

          $450.00

          1. Table | WORLD RARE EARTHS MINE PRODUCTION BY REGION

          2. CHART III-2 WORLD RARE EARTHS MINE PRODUCTION BY COUNTRY, 2014 & 2024

          3. Table | SELECTED RARE EARTHS MINE PROJECTS

        3. 4.2.3 Reserves

          $85.00

          1. Table | WORLD RARE EARTHS RESERVES BY COUNTRY, 2014

        4. 4.2.4 International Trade

          $82.00

      3. 4.3 Demand by Product

        $882.00

        1. Table | WORLD RARE EARTHS DEMAND BY PRODUCT

        2. CHART III-3 WORLD RARE EARTHS DEMAND BY PRODUCT, 2014

        3. 4.3.1 Cerium

          $132.00

          1. Table | WORLD CERIUM DEMAND BY MARKET & REGION

        4. 4.3.2 Lanthanum

          $105.00

          1. Table | WORLD LANTHANUM DEMAND BY MARKET & REGION

        5. 4.3.3 Neodymium

          $111.00

          1. Table | WORLD NEODYMIUM DEMAND BY MARKET & REGION

        6. 4.3.4 Praseodymium

          $99.00

          1. Table | WORLD PRASEODYMIUM DEMAND BY MARKET & REGION

        7. 4.3.5 Yttrium

          $89.00

          1. Table | WORLD YTTRIUM DEMAND BY MARKET & REGION

        8. 4.3.6 Other Rare Earths

          $247.00

          1. Table | WORLD DEMAND FOR OTHER RARE EARTHS BY PRODUCT, MARKET & REGION

      4. 4.4 Demand by Market

        $1,177.00

        1. Table | WORLD RARE EARTHS DEMAND BY MARKET

        2. CHART III-4 WORLD RARE EARTHS DEMAND BY MARKET, 2014

        3. 4.4.1 Permanent Magnets

          $250.00

          1. Table | WORLD PERMANENT MAGNET MARKET FOR RARE EARTHS BY REGION

        4. 4.4.2 Glass, Polishing, & Ceramics

          $147.00

          1. Table | WORLD GLASS, POLISHING, & CERAMICS MARKET FOR RARE EARTHS BY REGION

        5. 4.4.3 Fluid Cracking Catalysts

          $88.00

          1. Table | WORLD FLUID CRACKING CATALYST MARKET FOR RARE EARTHS BY REGION

        6. 4.4.4 Metal Processing

          $101.00

          1. Table | WORLD METAL PROCESSING MARKET FOR RARE EARTHS BY REGION

        7. 4.4.5 Battery Alloys

          $96.00

          1. Table | WORLD BATTERY ALLOY MARKET FOR RARE EARTHS BY REGION

        8. 4.4.6 Autocatalysts

          $93.00

          1. Table | WORLD AUTOCATALYST MARKET FOR RARE EARTHS BY REGION

        9. 4.4.7 Phosphors

          $151.00

          1. Table | WORLD PHOSPHORS MARKET FOR RARE EARTHS BY REGION

        10. 4.4.8 Other Markets

          $170.00

          1. Table | WORLD DEMAND FOR RARE EARTHS IN OTHER MARKETS BY REGION

    5. 5 NORTH AMERICA

      $1,124.00

      1. 5.1 North America: Economic Overview

        $85.00

      2. 5.2 North America: Rare Earths Products & Suppliers

        $122.00

        1. Table | NORTH AMERICA: RARE EARTHS DEMAND BY PRODUCT

        2. CHART IV-1 NORTH AMERICA: RARE EARTHS DEMAND BY COUNTRY, 2014

      3. 5.3 North America: Rare Earths Markets

        $82.00

        1. Table | NORTH AMERICA: RARE EARTHS DEMAND BY MARKET

      4. 5.4 United States

        $304.00

        1. 5.4.1 United States: Economic Overview

          $85.00

        2. 5.4.2 United States: Rare Earths Products & Suppliers

          $107.00

          1. Table | UNITED STATES: RARE EARTHS DEMAND BY PRODUCT

        3. 5.4.3 United States: Rare Earths Markets

          $112.00

          1. Table | UNITED STATES: RARE EARTHS DEMAND BY MARKET

      5. 5.5 Canada

        $277.00

        1. 5.5.1 Canada: Economic Overview

          $82.00

        2. 5.5.2 Canada: Rare Earths Products & Suppliers

          $105.00

          1. Table | CANADA: RARE EARTHS DEMAND BY PRODUCT

        3. 5.5.3 Canada: Rare Earths Markets

          $90.00

          1. Table | CANADA: RARE EARTHS DEMAND BY MARKET

      6. 5.6 Mexico

        $264.00

        1. 5.6.1 Mexico: Economic Overview

          $89.00

        2. 5.6.2 Mexico: Rare Earths Products & Suppliers

          $82.00

          1. Table | MEXICO: RARE EARTHS DEMAND BY PRODUCT

        3. 5.6.3 Mexico: Rare Earths Markets

          $94.00

          1. Table | MEXICO: RARE EARTHS DEMAND BY MARKET

    6. 6 WESTERN EUROPE

      $1,754.00

      1. 6.1 Western Europe: Economic Overview

        $107.00

      2. 6.2 Western Europe: Rare Earths Products & Suppliers

        $112.00

        1. Table | WESTERN EUROPE: RARE EARTHS DEMAND BY PRODUCT

        2. CHART V-1 WESTERN EUROPE: RARE EARTHS DEMAND BY COUNTRY, 2014

      3. 6.3 Western Europe: Rare Earths Markets

        $82.00

        1. Table | WESTERN EUROPE: RARE EARTHS DEMAND BY MARKET

      4. 6.4 France

        $317.00

        1. 6.4.1 France: Economic Overview

          $116.00

        2. 6.4.2 France: Rare Earths Products & Suppliers

          $119.00

          1. Table | FRANCE: RARE EARTHS DEMAND BY PRODUCT

        3. 6.4.3 France: Rare Earths Markets

          $82.00

          1. Table | FRANCE: RARE EARTHS DEMAND BY MARKET

      5. 6.5 Germany

        $268.00

        1. 6.5.1 Germany: Economic Overview

          $89.00

        2. 6.5.2 Germany: Rare Earths Products & Suppliers

          $82.00

          1. Table | GERMANY: RARE EARTHS DEMAND BY PRODUCT

        3. 6.5.3 Germany: Rare Earths Markets

          $97.00

          1. Table | GERMANY: RARE EARTHS DEMAND BY MARKET

      6. 6.6 United Kingdom

        $261.00

        1. 6.6.1 United Kingdom: Economic Overview

          $90.00

        2. 6.6.2 United Kingdom: Rare Earths Products & Suppliers

          $82.00

          1. Table | UNITED KINGDOM: RARE EARTHS DEMAND BY PRODUCT

        3. 6.6.3 United Kingdom: Rare Earths Markets

          $95.00

          1. Table | UNITED KINGDOM: RARE EARTHS DEMAND BY MARKET

      7. 6.7 Italy

        $304.00

        1. 6.7.1 Italy: Economic Overview

          $120.00

        2. 6.7.2 Italy: Rare Earths Products & Suppliers

          $100.00

          1. Table | ITALY: RARE EARTHS DEMAND BY PRODUCT

        3. 6.7.3 Italy: Rare Earths Markets

          $83.00

          1. Table | ITALY: RARE EARTHS DEMAND BY MARKET

      8. 6.8 Other Western Europe

        $326.00

        1. 6.8.1 Other Western Europe: Economic Overview

          $111.00

        2. 6.8.2 Other Western Europe: Rare Earths Products & Suppliers

          $122.00

          1. Table | OTHER WESTERN EUROPE: RARE EARTHS DEMAND BY PRODUCT & COUNTRY

        3. 6.8.3 Other Western Europe: Rare Earths Markets

          $93.00

          1. Table | OTHER WESTERN EUROPE: RARE EARTHS DEMAND BY MARKET

    7. 7 ASIA/PACIFIC

      $2,164.00

      1. 7.1 Asia/Pacific: Economic Overview

        $89.00

      2. 7.2 Asia/Pacific: Rare Earths Products & Suppliers

        $140.00

        1. Table | ASIA/PACIFIC: RARE EARTHS DEMAND BY PRODUCT

        2. CHART VI-1 ASIA/PACIFIC: RARE EARTHS DEMAND BY COUNTRY, 2014

      3. 7.3 Asia/Pacific: Rare Earths Markets

        $82.00

        1. Table | ASIA/PACIFIC: RARE EARTHS DEMAND BY MARKET

      4. 7.4 China

        $393.00

        1. 7.4.1 China: Economic Overview

          $117.00

        2. 7.4.2 China: Rare Earths Products & Suppliers

          $138.00

          1. Table | CHINA: RARE EARTHS DEMAND BY PRODUCT

        3. 7.4.3 China: Rare Earths Markets

          $139.00

          1. Table | CHINA: RARE EARTHS DEMAND BY MARKET

      5. 7.5 Japan

        $349.00

        1. 7.5.1 Japan: Economic Overview

          $101.00

        2. 7.5.2 Japan: Rare Earths Products & Suppliers

          $139.00

          1. Table | JAPAN: RARE EARTHS DEMAND BY PRODUCT

        3. 7.5.3 Japan: Rare Earths Markets

          $108.00

          1. Table | JAPAN: RARE EARTHS DEMAND BY MARKET

      6. 7.6 South Korea

        $287.00

        1. 7.6.1 South Korea: Economic Overview

          $96.00

        2. 7.6.2 South Korea: Rare Earths Products & Suppliers

          $103.00

          1. Table | SOUTH KOREA: RARE EARTHS DEMAND BY PRODUCT

        3. 7.6.3 South Korea: Rare Earths Markets

          $88.00

          1. Table | SOUTH KOREA: RARE EARTHS DEMAND BY MARKET

      7. 7.7 India

        $288.00

        1. 7.7.1 India: Economic Overview

          $109.00

        2. 7.7.2 India: Rare Earths Products & Suppliers

          $97.00

          1. Table | INDIA: RARE EARTHS DEMAND BY PRODUCT

        3. 7.7.3 India: Rare Earths Markets

          $82.00

          1. Table | INDIA: RARE EARTHS DEMAND BY MARKET

      8. 7.8 Taiwan

        $279.00

        1. 7.8.1 Taiwan: Economic Overview

          $99.00

        2. 7.8.2 Taiwan: Rare Earths Products & Suppliers

          $97.00

          1. Table | TAIWAN: RARE EARTHS DEMAND BY PRODUCT

        3. 7.8.3 Taiwan: Rare Earths Markets

          $83.00

          1. Table | TAIWAN: RARE EARTHS DEMAND BY MARKET

      9. 7.9 Other Asia/Pacific

        $276.00

        1. 7.9.1 Other Asia/Pacific: Economic Overview

          $84.00

        2. 7.9.2 Other Asia/Pacific: Rare Earths Products & Suppliers

          $114.00

          1. Table | OTHER ASIA/PACIFIC: RARE EARTHS DEMAND BY PRODUCT

        3. 7.9.3 Other Asia/Pacific: Rare Earths Markets

          $82.00

          1. Table | OTHER ASIA/PACIFIC: RARE EARTHS DEMAND BY MARKET

    8. 8 OTHER REGIONS

      $1,326.00

      1. 8.1 Central & South America

        $279.00

        1. 8.1.1 Central & South America: Economic Overview

          $90.00

        2. 8.1.2 Central & South America: Rare Earths Products & Suppliers

          $99.00

          1. Table | CENTRAL & SOUTH AMERICA: RARE EARTHS DEMAND BY PRODUCT

        3. 8.1.3 Central & South America: Rare Earths Markets

          $88.00

          1. Table | CENTRAL & SOUTH AMERICA: RARE EARTHS DEMAND BY MARKET

      2. 8.2 Eastern Europe

        $751.00

        1. 8.2.1 Eastern Europe: Economic Overview

          $92.00

        2. 8.2.2 Eastern Europe: Rare Earths Products & Suppliers

          $90.00

          1. Table | EASTERN EUROPE: RARE EARTHS DEMAND BY PRODUCT

        3. 8.2.3 Eastern Europe: Rare Earths Markets

          $82.00

          1. Table | EASTERN EUROPE: RARE EARTHS DEMAND BY MARKET

        4. 8.2.4 Russia

          $258.00

          1. Table | RUSSIA: RARE EARTHS DEMAND BY PRODUCT

          2. Table | RUSSIA: RARE EARTHS DEMAND BY MARKET

        5. 8.2.5 Other Eastern Europe

          $250.00

          1. Table | OTHER EASTERN EUROPE: RARE EARTHS DEMAND BY PRODUCT

          2. Table | OTHER EASTERN EUROPE: RARE EARTHS DEMAND BY MARKET

      3. 8.3 Africa/Mideast

        $295.00

        1. 8.3.1 Africa/Mideast: Economic Overview

          $101.00

        2. 8.3.2 Africa/Mideast: Rare Earths Products & Suppliers

          $98.00

          1. Table | AFRICA/MIDEAST: RARE EARTHS DEMAND BY PRODUCT

        3. 8.3.3 Africa/Mideast: Rare Earths Markets

          $96.00

          1. Table | AFRICA/MIDEAST: RARE EARTHS DEMAND BY MARKET

    9. 9 INDUSTRY STRUCTURE

      $5,471.00

      1. 9.1 General

        $82.00

      2. 9.2 Industry Composition

        $122.00

        1. Table | WORLD RARE EARTH SALES BY COMPANY, 2014

      3. 9.3 Market Share

        $280.00

        1. CHART VIII-1 WORLD RARE EARTHS MARKET SHARE, 2014

      4. 9.4 Marketing & Distribution

        $82.00

      5. 9.5 Mergers, Acquisitions, & Divestitures

        $124.00

        1. Table | SELECTED CONSOLIDATION ACTIVITIES IN CHINA'S RARE EARTHS INDUSTRY

        2. Table | SELECTED ACQUISITIONS & DIVESTITURES

      6. 9.6 Cooperative Agreements

        $225.00

        1. Table | SELECTED COOPERATIVE AGREEMENTS

        2. Table | MEMORANDUMS OF UNDERSTANDING & OTHER AGREEMENTS

      7. 9.7 Company Profiles

        $4,082.00

        1. 9.7.1 Alkane Resources Limited

          $82.00

        2. 9.7.2 Aluminum Corporation of China Limited

          $82.00

        3. 9.7.3 Arafura Resources Limited

          $126.00

        4. 9.7.4 Avalon Rare Metals Incorporated

          $143.00

        5. 9.7.5 China Minmetals Corporation

          $159.00

        6. 9.7.6 China Nonferrous Metal Industry's Foreign Engineering and Construction Company Limited

          $124.00

        7. 9.7.7 China Northern Rare Earth Group High-Tech Company Limited

          $309.00

        8. 9.7.8 China Rare Earth Holdings Limited

          $128.00

        9. 9.7.9 Frontier Rare Earths Limited

          $131.00

        10. 9.7.10 Ganzhou Qiandong Rare Earth Group Company Limited

          $101.00

        11. 9.7.11 Ganzhou Rare Earth Group Company Limited

          $82.00

        12. 9.7.12 Great Western Minerals Group Limited

          $223.00

        13. 9.7.13 Greenland Minerals and Energy Limited

          $108.00

        14. 9.7.14 GRINM Advanced Materials Company Limited

          $168.00

        15. 9.7.15 Iluka Resources Limited

          $82.00

        16. 9.7.16 Indian Rare Earths Limited

          $82.00

        17. 9.7.17 Jiangxi Copper Corporation

          $89.00

        18. 9.7.18 Jiangxi Rare Earth and Rare Metals Tungsten Group Corporation

          $152.00

        19. 9.7.19 Lynas Corporation Limited

          $118.00

        20. 9.7.20 Medallion Resources Limited

          $165.00

        21. 9.7.21 Molycorp Incorporated

          $266.00

        22. 9.7.22 Pele Mountain Resources Incorporated

          $120.00

        23. 9.7.23 Quest Rare Minerals Limited

          $101.00

        24. 9.7.24 Rare Element Resources Limited

          $153.00

        25. 9.7.25 Rising Nonferrous Metals Company Limited

          $82.00

        26. 9.7.26 Shin-Etsu Chemical Company Limited

          $184.00

        27. 9.7.27 Solvay SA

          $270.00

        28. 9.7.28 Treibacher Industrie AG

          $93.00

        29. 9.7.29 Ucore Rare Metals Incorporated

          $147.00

        30. 9.7.30 Xiamen Tungsten Company Limited

          $82.00

      8. 9.8 Other Companies Involved in the Rare Earths Industry

        $510.00

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