PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1876158
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1876158
The global lanthanum market is experiencing steady growth driven by rising demand for electric vehicles (EVs), advanced optical applications, and cleaner energy solutions. According to Fortune Business Insights, the market was valued at USD 70.6 million in 2024, is projected to reach USD 75.0 million in 2025, and is expected to expand significantly to USD 114.3 million by 2032, exhibiting a CAGR of 6.2% during the forecast period (2025-2032). The Asia Pacific region dominated the market in 2024, accounting for 70.25% of the total global share, led by China, Japan, and South Korea-key hubs for automotive, electronics, and renewable energy manufacturing.
Lanthanum, a silvery-white rare earth element, plays an essential role in modern industries. It is a core material in nickel metal hydride (NiMH) batteries, optical lenses, petroleum refining catalysts, and high-strength alloys. The increasing adoption of EVs, surging battery production, and rapid technological innovation across energy and electronics sectors continue to propel market growth. In 2024, leading manufacturers such as American Elements, Lynas Rare Earths Ltd., Avalon Advanced Materials Inc., Thermo Fisher Scientific Inc., and IREL Limited remained at the forefront of supply and technological advancement.
Market Dynamics
The growing use of lanthanum-based catalysts in petroleum refining and emission reduction is a major factor driving global demand. Lanthanum oxide is an essential ingredient in fluid catalytic cracking (FCC) catalysts, which enable the conversion of crude oil into cleaner fuels such as gasoline and diesel. As environmental regulations tighten worldwide, the demand for high-performance catalysts is projected to grow steadily. Additionally, the optical industry heavily relies on lanthanum for high-refractive-index glass, crucial in camera lenses, microscopes, telescopes, and advanced medical imaging systems. With the rising popularity of high-resolution imaging and smart electronic devices, lanthanum's importance in optical applications continues to strengthen.
The extraction and purification of lanthanum involve multi-stage, energy-intensive processes, which increase operational costs and environmental impact. Price volatility of rare earth materials further complicates supply chain stability and long-term planning for manufacturers. These factors collectively limit large-scale adoption, especially among smaller producers with restricted capital investment capacity.
Lanthanum's application in NiMH batteries presents significant opportunities as the global transition to sustainable mobility accelerates. The International Energy Agency (IEA) reported a 40% increase in EV sales in 2023, with total battery consumption reaching 100 GWh in the U.S., 185 GWh in Europe, and 415 GWh in China. This surge in electric and hybrid vehicle production has intensified the demand for lanthanum alloys used in battery electrodes. Moreover, the global shift toward renewable energy generation and efficient storage solutions is reinforcing lanthanum's strategic role in the green energy economy.
While lanthanum remains indispensable in several sectors, environmental concerns linked to rare earth mining and waste generation have prompted stricter regulations. Manufacturers are now investing in eco-friendly refining methods and recycling systems to reduce ecological impact. The emergence of alternative materials for catalysts, optical lenses, and batteries also poses competition; however, lanthanum's unique combination of reactivity, durability, and efficiency continues to ensure its relevance in advanced applications.
Market Trends
Innovation in Refining and Recycling for a Sustainable Future
The lanthanum industry is undergoing a technological transformation focused on refining efficiency and material recovery. Emerging circular economy initiatives encourage recycling lanthanum from end-of-life batteries, catalysts, and optical devices. This shift not only minimizes waste but also ensures long-term supply stability amid fluctuating raw material availability. By 2032, sustainable refining and recycling technologies are expected to significantly reduce production costs and environmental footprints across major economies.
By Type:
The lanthanum oxide segment dominated the market in 2024 due to its extensive use in catalysts, optical lenses, and electronic components. It is essential in refining processes and high-performance optics manufacturing. Lanthanum metal held a notable share owing to its critical role in NiMH batteries and specialty alloys, while lanthanum carbonate is gaining traction as a phosphate binder for treating kidney-related disorders, highlighting growing demand from the healthcare sector.
By Application:
The catalysts segment led the global lanthanum market in 2024, driven by rising demand for efficient refining systems and emission control. The batteries segment is expected to witness the fastest growth during 2025-2032 due to expanding hybrid vehicle production. Meanwhile, the glass and optical applications segment continues to grow steadily, supported by advancements in consumer electronics, cameras, and scientific instruments.
Asia Pacific:
The Asia Pacific region, valued at USD 49.6 million in 2024, dominated the global lanthanum market, holding a 70.25% share. China's leadership in rare earth production, combined with Japan's innovation in electronics and South Korea's strong EV manufacturing base, solidifies the region's dominance. Rising investments in renewable energy, EV batteries, and smart electronics will continue to sustain high consumption levels across Asia Pacific.
North America:
The North American market is expanding steadily, backed by government initiatives promoting EV adoption and renewable energy. The U.S. and Canada are investing heavily in domestic mining and refining to reduce dependency on imports. Increasing usage of lanthanum in refining catalysts and advanced materials supports the region's growth.
Europe:
Europe's focus on sustainability, emission control, and clean mobility fuels steady demand for lanthanum-based catalysts and batteries. Countries such as Germany, France, and the U.K. are key contributors, supported by the European Green Deal and expanding local battery manufacturing capacities.
South America and Middle East & Africa:
Both regions show gradual growth, supported by infrastructure development, renewable energy projects, and early-stage EV adoption. Brazil, Saudi Arabia, and the UAE are emerging as potential markets due to increasing industrial modernization and diversification.
Competitive Landscape
The global lanthanum market is moderately consolidated, with leading companies focusing on capacity expansion, sustainability, and R&D investments. Key players include American Elements (U.S.), Lynas Rare Earths Ltd. (Australia), Thermo Fisher Scientific Inc. (U.S.), Avalon Advanced Materials Inc. (Canada), IREL Limited (India), and Rare Element Resources Ltd. (U.S.). These firms are developing advanced refining techniques and sustainable mining operations to strengthen their market position.
Companies are increasingly adopting eco-friendly extraction processes and forming strategic partnerships to ensure a stable supply chain. Domestic producers are leveraging local dominance, while multinational corporations expand aggressively in Asia Pacific and North America.
Conclusion
The global lanthanum market is poised for substantial growth, expanding from USD 75.0 million in 2025 to USD 114.3 million by 2032, driven by rising applications in catalysts, batteries, optics, and renewable energy technologies. With Asia Pacific maintaining its leadership and growing global investment in EV production and green energy, lanthanum's role as a strategic industrial metal will continue to strengthen through 2032. Sustainability initiatives, innovation in refining, and recycling advancements are expected to define the next phase of growth for this critical rare earth market.
Segmentation By Type
By Application
By Region