The global market for magnet rare earth oxides to increase 7-fold by 2040
Lifted by rising demand and higher prices
With total magnet-related rare earth oxide demand forecasted to increase at a CAGR of 8.4% and prices projected to increase at CAGRs of 4.0% to 5.5% over the same period, Adamas Intelligence forecasts that the value of global magnet rare earth oxide demand will increase more than seven-fold by 2040, from $9.7 billion in 2025 to $68.1 billion by 2040.
However, with didymium, dysprosium and terbium undersupply expected to persist over the medium- to long-term, we project that approximately $7.3 billion worth of magnet rare earth oxide demand will go unsatisfied and/or be turned away from the market by 2040 if supply does not grow beyond our Base Case expectations.
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