Rare earths are critical to end-use markets valued in the trillions
Eclipsing the value of the mine-to-magnet value chain by orders of magnitude are the trillion-dollar end-use industries enabled by and reliant on sustainable supplies of rare earth magnets.
Eclipsing the value of the mine-to-magnet value chain by orders of magnitude are the trillion-dollar end-use industries enabled by and reliant on sustainable supplies of rare earth magnets.
In 2023, the global automotive industry was valued at a whopping $3.5 trillion, the defense industry $2.2 trillion, the renewables industry $1.3 trillion and consumer electronics and appliances combined for $1.6 trillion.
Today, the robotics industry and advanced air mobility sector are nascent billion-dollar markets but they too stand to approach the trillion dollar mark in the 2040s, if not sooner.
The nominal heft of end-use industries reliant on rare earth elements speaks to the strategic and economic criticality of having sustainable, uninterrupted supplies going forward and, in the case of China, reinforces why the nation may be willing to forgo upstream profitability for net greater economic gains downstream.
More information?
Check our latest Rare Earth Magnet Market Outlook to 2040 annual report – the industry’s go-to reference for magnet market intelligence.
