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Neodymium Market Size, Share and Forecast 2026-2036

The global neodymium market is worth USD 5.6 bn in 2026 and is forecast to reach USD 13.3 bn by 2036, growing at a 9.0% CAGR. China is the largest country market and Neodymium oxide is the largest by form segment.

USD 5.6 bnMarket size 2026
USD 13.3 bnForecast 2036
9.0%CAGR 2026-2036
ChinaLargest country

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5 segmentation views25 countries2026 to 2036 yearly forecast

Market overview

The global neodymium market is worth USD 5.6 bn in 2026 and is forecast to reach USD 13.3 bn by 2036, growing at a 9.0% CAGR. China is the largest country market and Neodymium oxide is the largest by form segment.

ScopeNeodymium oxide and metal used mainly in permanent magnets for electric vehicles, wind turbines and electronics, plus glass, lasers and catalysts, valued as sold by separators and refiners.
IndustryChemicals and Materials
Value 2025USD 5.0 bn
Value 2026USD 5.6 bn
Value 2036USD 13.3 bn
CAGR 2026-20369.0%
Volume 202676,116 tonnes
Volume 2036134,082 tonnes
Average price 2026USD 73,570 per tonne
Report priceStarts from USD 1,999
PublishedNovember 2026

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Neodymium market size and forecast, 2026-2036

Exhibit 1The global neodymium market is forecast to grow from USD 5.6 bn in 2026 to USD 13.3 bn by 2036, more than doublingGlobal market value in USD: 2025 base year, 2026 estimate and forecast to 2036. CAGR 2026 to 2036: 9.0%
Neodymium market value, 2025 to 2036Market value by year. 2025: USD 5.0 bn; 2026: USD 5.6 bn; 2027: USD 6.1 bn; 2028: USD 6.7 bn; 2029: USD 7.3 bn; 2030: USD 7.9 bn; 2031: USD 8.6 bn; 2032: USD 9.4 bn; 2033: USD 10.2 bn; 2034: USD 11.2 bn; 2035: USD 12.2 bn; 2036: USD 13.3 bn. Compound annual growth rate 2026 to 2036: 9.0%.20255.6 bn20268.6 bn203113.3 bn20369.0% CAGR

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

YearMarket value
2026USD 5.6 bn
2027USD 6.1 bn
2028USD 6.7 bn
2029USD 7.3 bn
2030USD 7.9 bn
2031USD 8.6 bn
2032USD 9.4 bn
2033USD 10.2 bn
2034USD 11.2 bn
2035USD 12.2 bn
2036USD 13.3 bn

Neodymium market segmentation

By form

Exhibit 2Neodymium oxide is the largest segment by form, with 70.0% of 2026 revenueEstimated share of 2026 global revenue, by form
Neodymium market share by form, 2026Share of 2026 revenue by form. Neodymium oxide: 70.0%; Neodymium metal and alloys: 22.0%; Neodymium compounds: 8.0%.Neodymium oxide70.0%Neodymium metal and alloys22.0%Neodymium compounds8.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Neodymium oxide70.0%68.9%USD 3.9 bn8.8%
Neodymium metal and alloys22.0%24.8%USD 1.2 bn10.3%
Neodymium compounds8.0%6.2%USD 448 mn6.3%

By application

Exhibit 3Permanent magnets adds the most revenue by application, growing from USD 4.7 bn in 2026 to USD 11.9 bn by 2036Estimated revenue in USD by application, 2026 and 2036 forecast
Neodymium market by application, 2026 and 2036Revenue by application in 2026 and 2036. Permanent magnets: USD 4.7 bn in 2026, USD 11.9 bn in 2036, change +154%; Glass and ceramics: USD 280 mn in 2026, USD 385 mn in 2036, change +38%; Other uses: USD 224 mn in 2026, USD 339 mn in 2036, change +51%; Catalysts and polishing: USD 224 mn in 2026, USD 323 mn in 2036, change +44%; Lasers and electronics: USD 168 mn in 2026, USD 280 mn in 2036, change +67%.20262036 forecastChangePermanent magnets+154%4.7 bn11.9 bnGlass and ceramics+38%280 mn385 mnOther uses+51%224 mn339 mnCatalysts and polishing+44%224 mn323 mnLasers and electronics+67%168 mn280 mn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Permanent magnets84.0%90.0%USD 4.7 bn9.8%
Glass and ceramics5.0%2.9%USD 280 mn3.2%
Catalysts and polishing4.0%2.4%USD 224 mn3.7%
Lasers and electronics3.0%2.1%USD 168 mn5.2%
Other uses4.0%2.6%USD 224 mn4.2%

By purity

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
99.5 per cent42.0%34.0%USD 2.4 bn6.7%
99.9 per cent38.0%40.0%USD 2.1 bn9.6%
99.99 per cent and above20.0%26.0%USD 1.1 bn11.9%

By ore source

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Bastnaesite and monazite62.0%58.0%USD 3.5 bn8.3%
Ionic adsorption clay28.0%26.0%USD 1.6 bn8.2%
Recycled10.0%16.0%USD 560 mn14.2%

By magnet end market

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Electric and hybrid vehicles36.0%44.0%USD 2.0 bn11.2%
Wind turbines14.0%16.0%USD 784 mn10.5%
Consumer electronics and drives26.0%18.0%USD 1.5 bn5.1%
Industrial motors and robotics24.0%22.0%USD 1.3 bn8.1%

Top 25 countries for neodymium by revenue

Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 94.0% of 2026 revenue and the 25 countries below together hold 98.6%.

Exhibit 4China is the largest country market at USD 3.1 bn in 2026, and the three largest countries hold 73.0% of global revenueEstimated 2026 revenue in USD and share of the global market, ten largest countries
Neodymium market, ten largest countries in 2026Ten largest countries by 2026 revenue. China: USD 3.1 bn, 56.0%; Japan: USD 504 mn, 9.0%; United States: USD 448 mn, 8.0%; Germany: USD 280 mn, 5.0%; South Korea: USD 224 mn, 4.0%; India: USD 168 mn, 3.0%; Vietnam: USD 140 mn, 2.5%; Thailand: USD 140 mn, 2.5%; Italy: USD 112 mn, 2.0%; France: USD 112 mn, 2.0%.China3.1 bn 56.0%Japan504 mn 9.0%United States448 mn 8.0%Germany280 mn 5.0%South Korea224 mn 4.0%India168 mn 3.0%Vietnam140 mn 2.5%Thailand140 mn 2.5%Italy112 mn 2.0%France112 mn 2.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

#CountryValue 2026Share 2026Value 2036CAGR 2026-36
1ChinaUSD 3.1 bn56.0%USD 7.1 bn8.5%
2JapanUSD 504 mn9.0%USD 1.1 bn8.0%
3United StatesUSD 448 mn8.0%USD 1.3 bn11.0%
4GermanyUSD 280 mn5.0%USD 663 mn9.0%
5South KoreaUSD 224 mn4.0%USD 504 mn8.4%
6IndiaUSD 168 mn3.0%USD 530 mn12.2%
7VietnamUSD 140 mn2.5%USD 398 mn11.0%
8ThailandUSD 140 mn2.5%USD 371 mn10.2%
9ItalyUSD 112 mn2.0%USD 239 mn7.9%
10FranceUSD 112 mn2.0%USD 252 mn8.4%
11United KingdomUSD 38 mn0.7%USD 88 mn8.7%
12TaiwanUSD 36 mn0.6%USD 82 mn8.7%
13CanadaUSD 29 mn0.5%USD 66 mn8.8%
14MexicoUSD 26 mn0.5%USD 69 mn10.1%
15BrazilUSD 21 mn0.4%USD 49 mn8.7%
16PolandUSD 19 mn0.3%USD 50 mn10.2%
17Czech RepublicUSD 17 mn0.3%USD 44 mn10.0%
18MalaysiaUSD 15 mn0.3%USD 38 mn10.2%
19TurkeyUSD 12 mn0.2%USD 28 mn9.0%
20AustraliaUSD 9.5 mn0.2%USD 23 mn9.0%
21RussiaUSD 8.4 mn0.1%USD 19 mn8.2%
22NetherlandsUSD 7.3 mn0.1%USD 16 mn8.1%
23SwitzerlandUSD 6.7 mn0.1%USD 16 mn9.0%
24SpainUSD 6.2 mn0.1%USD 13 mn8.0%
25SwedenUSD 5.0 mn0.09%USD 11 mn7.7%
Rest of worldUSD 81 mn1.4%USD 211 mn10.1%
Exhibit 5China and United States account for 63% of the USD 7.7 bn the market is forecast to add by 2036Forecast revenue added between 2026 and 2036 by country, in USD
Neodymium market, where the growth to 2036 comes fromRevenue added between 2026 and 2036. Market value 2026: USD 5.6 bn. China: +USD 4.0 bn; United States: +USD 825 mn; Japan: +USD 583 mn; Germany: +USD 383 mn; India: +USD 362 mn; 20 other countries: +USD 1.4 bn; Rest of world: +USD 130 mn. Market value 2036: USD 13.3 bn.Market value 20265.6 bnChina+4.0 bnUnited States+825 mnJapan+583 mnGermany+383 mnIndia+362 mn20 other countries+1.4 bnRest of world+130 mnMarket value 203613.3 bn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

Competitive landscape

Group 1: Global leaders

  • China Northern Rare Earth
  • China Rare Earth Group
  • Shenghe Resources
  • Lynas Rare Earths
  • MP Materials

Group 2: Regional and specialist players

  • Neo Performance Materials
  • Solvay
  • Shin-Etsu Chemical
  • Treibacher Industrie
  • Xiamen Tungsten
  • China Minmetals Rare Earth
  • Ganzhou Rare Earth Group
  • Baotou Tianjiao Seimi

Group 3: Emerging and niche players

  • Energy Fuels
  • Indian Rare Earths

Research methodology

Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the neodymium market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.

The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 9.0% is calculated from the resulting values.

The market is divided by form, by application, by purity, by ore source, by magnet end market. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.

Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.

Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.

Read the full research methodology

Frequently asked questions

How big is the neodymium market?

The global neodymium market is estimated at USD 5.0 bn in 2025 and USD 5.6 bn in 2026.

How fast will the neodymium market grow?

It is forecast to reach USD 13.3 bn by 2036, a compound annual growth rate of 9.0% from 2026, an increase of USD 7.7 bn.

Which country is the largest market for neodymium?

China is the largest market by revenue at USD 3.1 bn in 2026, 56.0% of the global total. The three largest countries together hold 73.0%.

Which country is growing fastest?

Among the ten largest markets, India is growing fastest at 12.2% a year from 2026 to 2036.

Which neodymium segment is largest?

In the by form split, Neodymium oxide is the largest segment with 70.0% of 2026 revenue.

Who are the leading neodymium companies?

Global leaders include China Northern Rare Earth, China Rare Earth Group, Shenghe Resources, Lynas Rare Earths.

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