Neodymium Global Market Report 2026

Neodymium is a metallic element belonging to the rare-earth family, displaying a color spectrum from silver-white to yellow. It possesses the ability to conduct heat and electricity, and can be fashioned into sheets. This metal is prominently utilized in the creation of potent permanent magnets.

Neodymium manifests in various forms, with neodymium metal, neodymium nitrate, and neodymium oxide being the primary types. These products find applications in diverse fields, including the manufacturing of permanent magnets, catalysts, laser crystals, neodymium glasses, electric capacitors, and metallurgy. Neodymium, a trivalent rare-earth metal, coexists with cerium and other rare-earth metals. Its applications span across industries such as automotive, electrical and electronics, wind energy, and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on imported neodymium and its compounds have affected the market by increasing production costs and disrupting supply chains. Segments such as neodymium metal, oxides, and nitrates are most impacted, particularly in north america, europe, and asia-pacific regions. While tariffs have raised costs, they have also incentivized domestic production, encouraged local sourcing, and driven innovation in alternative neodymium processing technologies.

The neodymium market research report is one of a series of new reports from The Business Research Company that provides neodymium market statistics, including neodymium industry global market size, regional shares, competitors with a neodymium market share, detailed neodymium market segments, market trends and opportunities, and any further data you may need to thrive in the neodymium industry. This neodymium market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The neodymium market size has grown strongly in recent years. It will grow from $3.71 billion in 2025 to $3.98 billion in 2026 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to growth of automotive industry, rising demand for wind energy, increasing electrical and electronics applications, expansion of metallurgical uses, development of laser technologies.

The neodymium market size is expected to see strong growth in the next few years. It will grow to $5.2 billion in 2030 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing adoption in electric vehicles, rising need for energy-efficient motors, growth of renewable energy infrastructure, expansion of high-performance electronic devices, development of advanced neodymium alloys. Major trends in the forecast period include rising demand for neodymium-based permanent magnets, growth in neodymium oxide for laser and optical applications, increasing use of neodymium in catalysts, expansion of neodymium glass and ceramic applications, development of high-purity neodymium products for electronics.

Growing global demand for electric vehicles is expected to support the expansion of the neodymium market. Electric vehicles run either entirely on electric power or are partially powered by electricity, using electric motors instead of conventional internal combustion engines. Neodymium is widely used in EV motors because it is an ideal material for high-performance magnets that convert electrical energy into motion, which helps increase efficiency and reliability. For example, in 2023, the International Energy Agency reported that global electric car sales were 3.5 million higher than in 2022, representing a 35% year-over-year increase, with three major markets leading global demand. Therefore, the rising adoption of electric vehicles is contributing to the growth of the neodymium market.

Companies in the neodymium industry are increasingly focused on expanding production capacity and improving supply chains for high-purity neodymium-praseodymium (NdPr) oxide to meet growing demand from EVs, renewable energy systems, and industrial magnet applications. High-purity NdPr oxide is a refined rare-earth material consisting mainly of neodymium and praseodymium that provides consistent quality and better compatibility than lower-grade concentrates, enabling efficient manufacturing of NdFeB permanent magnets used in EV drive systems and other advanced technologies. For instance, in August 2025, Energy Fuels Inc., a U.S.-based rare-earth producer, commercialized its high-purity NdPr oxide for EV magnet applications and entered into a memorandum of understanding with Vulcan Elements to supply NdPr and dysprosium oxides for testing and validation in domestic magnet manufacturing. The product delivers purity levels above 99.5%, and the partnership aims to support long-term supply agreements that strengthen the U.S. supply chain for critical magnet materials.

In April 2023, Neo Performance Materials Inc., a Canadian manufacturer of specialty materials, acquired a majority stake in SG Technologies Group Limited for an undisclosed amount. Through this acquisition, Neo plans to begin producing sintered rare-earth magnets in Estonia by 2025 to serve markets such as electric vehicles, electronics, and high-efficiency industrial motors, while also expanding its rare-earth processing and magnet-manufacturing presence across Europe. SG Technologies Group Limited is a U.K.-based company specializing in the production of high-performance magnetic components and assemblies for industrial and commercial applications.

Major companies operating in the neodymium market report are Lynas Rare Earths Ltd., MP Materials Corp., China Northern Rare Earth Group High-Tech Co. Ltd., Shenghe Resources Holding Co. Ltd., Baotou Steel Rare-Earth Co. Ltd., Chinalco Rare Earth Co. Ltd., JXTC Rare Earth Co. Ltd., Neo Performance Materials Inc., Neo Material Technologies, Arafura Rare Earths Limited, Alkane Resources Ltd., Australian Strategic Materials Ltd., Greenland Minerals Ltd., Rainbow Rare Earths Limited, Peak Rare Earths, Northern Minerals Limited, Rare Element Resources Ltd., Avalon Advanced Materials Inc., Ucore Rare Metals Inc., Medallion Resources Ltd., Texas Mineral Resources Corp., GanZhouQianDong Rare Earths Group Co. Ltd., China Rare Earth Holdings Limited

Asia-Pacific was the largest region in the neodymium market in 2025. The regions covered in the neodymium market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the neodymium market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The neodymium market consists of sales of N35 magnet grade, N38 magnet grade and N40 magnet grade. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Neodymium Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses neodymium market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for neodymium ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The neodymium market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Products: Neodymium Metal; Neodymium Nitrate; Neodymium Oxide
• 2) By Application: Permanent Magnets; Laser Crystals; Neodymium Glasses; Metallurgy
• 3) By End User: Automotive; Electrical and Electronics; Wind Energy
• Subsegments:
• 1) By Neodymium Metal: Neodymium Rods; Neodymium Sheets; Neodymium Powders
• 2) By Neodymium Nitrate: Anhydrous Neodymium Nitrate; Hydrated Neodymium Nitrate
• 3) By Neodymium Oxide: High-Purity Neodymium Oxide; Standard Neodymium Oxide
• Companies Mentioned: Lynas Rare Earths Ltd.; MP Materials Corp.; China Northern Rare Earth Group High-Tech Co. Ltd.; Shenghe Resources Holding Co. Ltd.; Baotou Steel Rare-Earth Co. Ltd.; Chinalco Rare Earth Co. Ltd.; JXTC Rare Earth Co. Ltd.; Neo Performance Materials Inc.; Neo Material Technologies; Arafura Rare Earths Limited; Alkane Resources Ltd.; Australian Strategic Materials Ltd.; Greenland Minerals Ltd.; Rainbow Rare Earths Limited; Peak Rare Earths; Northern Minerals Limited; Rare Element Resources Ltd.; Avalon Advanced Materials Inc.; Ucore Rare Metals Inc.; Medallion Resources Ltd.; Texas Mineral Resources Corp.; GanZhouQianDong Rare Earths Group Co. Ltd.; China Rare Earth Holdings Limited
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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