Global investment in rare earth elements (REEs) is rapidly accelerating outside of China as countries seek to secure critical mineral supply chains essential for electric vehicles, industrial, consumer and military technologies.
With China currently dominating around 80% of global rare earth processing, geopolitical tensions, export restrictions, and rising demand for green energy are driving Western nations, and companies to diversify its sources of REEs.
This shift is fuelling new exploration projects, strategic partnerships, and government-backed initiatives across Australia, and abroad—making rare earths a rising focus for investors in the critical minerals space. To fully understand the exploration and development results delivered by rare earth companies, we have listed all 17 REEs with critical associated data below:
Rare Earth Elements Ranked by Market Size
1. Neodymium (Nd)
- Market Size: ~$3.5B
- Price: ~$90–$110/kg (oxide)
- Major Uses: Permanent magnets for EVs, wind turbines, electronics.
- Note: Most commercially important REE due to magnet demand.
2. Praseodymium (Pr)
- Market Size: ~$1.2B
- Price: ~$90–$110/kg (oxide)
- Major Uses: High-strength magnets, aircraft engines, safety visors.
- Note: Often used with Nd in NdFeB magnets.
3. Cerium (Ce)
- Market Size: ~$700M
- Price: ~$1.50–$2.50/kg (oxide)
- Major Uses: Catalytic converters, glass polishing, UV filters.
- Note: Most abundant REE; low cost but high volume.
4. Lanthanum (La)
- Market Size: ~$500M
- Price: ~$2–$3/kg (oxide)
- Major Uses: Oil refining catalysts, optics, NiMH batteries.
- Note: Common in legacy hybrid vehicle batteries.
5. Dysprosium (Dy)
- Market Size: ~$800M
- Price: ~$400–$500/kg (oxide)
- Major Uses: High-temperature magnets for EVs and defence.
- Note: Critical supply chain concerns.
6. Terbium (Tb)
- Market Size: ~$600M
- Price: ~$800–$1,000/kg (oxide)
- Major Uses: Green phosphors for screens, high-performance magnets.
- Note: Among most valuable due to scarcity.
7. Yttrium (Y)
- Market Size: ~$150M
- Price: ~$5–$10/kg (oxide)
- Major Uses: LEDs, phosphors, ceramics, superconductors.
- Note: Technically a transition metal, grouped with REEs.
8. Gadolinium (Gd)
- Market Size: ~$150M
- Price: ~$70–$90/kg (oxide)
- Major Uses: MRI contrast agents, neutron shielding, alloys.
- Note: Strong demand from healthcare and nuclear industries.
9. Samarium (Sm)
- Market Size: ~$100M
- Price: ~$50–$60/kg (oxide)
- Major Uses: Samarium-cobalt magnets, nuclear reactor shielding.
- Note: Critical in aerospace and military.
10. Scandium (Sc)
- Market Size: ~$50–100M
- Price: ~$1,500–$2,000/kg (oxide)
- Major Uses: Aerospace alloys, fuel cells, sports equipment.
- Note: Very limited supply; potential market growth in alloys.
11. Erbium (Er)
- Market Size: ~$50M
- Price: ~$90–$120/kg (oxide)
- Major Uses: Optical fibre amplifiers, lasers, coloured glass.
- Note: Photonics applications.
12. Europium (Eu)
- Market Size: ~$70M
- Price: ~$250–$300/kg (oxide)
- Major Uses: Red phosphors in screens and LEDs.
- Note: Demand declined post-CRT era but still relevant.
13. Ytterbium (Yb)
- Market Size: ~$30M
- Price: ~$120–$150/kg (oxide)
- Major Uses: Lasers, atomic clocks, fiber optic doping.
- Note: Niche quantum and scientific uses.
14. Holmium (Ho)
- Market Size: ~$30M
- Price: ~$80–$100/kg (oxide)
- Major Uses: Lasers, magnetics, nuclear reactors.
- Note: Primarily research and specialty uses.
15. Lutetium (Lu)
- Market Size: ~$20M
- Price: ~$1,500–$2,000/kg (oxide)
- Major Uses: PET scanners, cancer therapy isotopes, catalysts.
- Note: Rarest REE; extremely niche but high-value.
16. Thulium (Tm)
- Market Size: ~$10M
- Price: ~$600–$700/kg (oxide)
- Major Uses: Lasers, X-ray sources, nuclear tech.
- Note: Very rare and specialized.
17. Promethium (Pm)
- Market Size: Negligible
- Price: Not commercially traded
- Major Uses: Radioactive batteries, scientific research.
- Note: Artificially produced; no commercial-scale applications.
