All 17 Rare Earth Elements: their importance, price and market sizes
- StockSurge Team
- Apr 11
- 2 min read
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.
