Rare Earth Metals Market Overview Key Stats & Projections

Anuja Patil02 Jul, 2025Business

Report Overview: In 2022, the global Rare earth metals market was valued at approximately USD 12.75 billion. It is projected to grow steadily and reach around USD 33.46 billion by 2032, reflecting a strong compound annual growth rate (CAGR) of 10.4% over the forecast period from 2023 to 2032.   The global rare earth metals market is experiencing strong growth due to rising demand in clean energy, electronics, and advanced manufacturing. These elements like neodymium, cerium, and dysprosium are essential for technologies such as electric vehicle motors, wind turbines, smartphones, and military systems. Environmental policies and government incentives are accelerating the use of green technologies, boosting demand for rare earths. At the same time, supply chain vulnerabilities and heavy reliance on a few production countries are prompting investments in domestic mining and recycling. The market is expected to grow steadily through 2032.