1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 What are Rare Earth Elements?
5 Rare Earth Elements: Are they Really Rare?
5.1 Reserve Estimates
5.2 How Long Will They Last?
6 Rare Earth Elements: Mining Economics
6.1 Mine Valuation: Grades & Composition are Key
6.2 Development of a New Project: Can Take Several Years
6.3 Rare Earth Mining Costs: Largely Location and Grade Development
6.4 Infrastructure & Capital Costs
6.5 Operating Costs
6.6 Key Projects
6.6.1 Arafura Resources Limited-Noland Project
6.6.2 Nechalacho Rare Earth Elements Project
6.6.3 Kvanefjeld Project-Greenland Minerals & Energy Limited
6.6.4 Dubbo Zirconia-Alkane Resources Limited
6.7 Mining and Processing
6.7.1 Mining
6.7.2 Downstream Processing
6.8 Prices
6.8.1 Factors Affecting Rare Earth Element Prices
6.8.2 Historical Prices
6.8.3 Pricing Forecast
7 China’s Role in the Global Rare Earth Elements Market
7.1 China has a Monopoly Over Rare Earth Elements
7.2 Mining Costs in China Are Significantly Lower Than Other Rare Earth Producers
7.3 Miners Have Benefitted from the Lack of Proper Working Standards and Environmental Regulations
7.4 China Has a Significantly Higher In-house Expertise Compared to Other Rare Earth Producers
7.5 China is Strategically Increasing Production Quotas to Sustain Global Dominance in Rare Earth Elements Market
7.6 China Aims to Become an Exporter of Higher Value Goods
8 Global Rare Earth Elements Market
8.1 Total Sales and Production of Rare Earth Elements
8.2 Production of Rare Earth Elements by Region
8.2.1 Current Operational Mines
8.2.1.1 Bayan Obo, China
8.2.1.2 Longnan, China
8.2.1.3 Xunwu, China
8.2.1.4 India
8.2.1.5 Eastern Coast, Brazil
8.2.1.6 Lahat, Malaysia
8.2.1.7 Mt. Weld, Australia
8.2.1.8 Mountain Pass, United States
8.2.1.9 Nolans, Australia
8.2.1.10 Steenkampskraal, South Africa
8.2.1.11 Kvanefjeld, Greenland
8.2.1.12 Dong Pao, Vietnam
8.2.1.13 Dubbo Zirconia, Australia
8.2.2 Potential Operational Mines
8.2.2.1 Nechalacho, Canada
8.3 Consumption of Rare Earth Elements by Region
8.3.1 China
8.3.2 Japan & Northeast Asia
8.3.3 United States
9 Supply & Demand of Individual Rare Earth Elements
9.1 Elements that will Face Supply Shortages in the Near Future
9.1.1 Praseodymium
9.1.1.1 Elements Overview & Supply Risks
9.1.1.2 Supply & Demand
9.1.2 Neodymium
9.1.2.1 Elements Overview & Supply Risks
9.1.2.2 Supply & Demand
9.2 Elements that be Oversupplied in the Near Future
9.2.1 Terbium
9.2.1.1 Elements Overview & Supply Risks
9.2.1.2 Supply & Demand
9.2.2 Yttrium
9.2.2.1 Elements Overview & Supply Risks
9.2.2.2 Supply & Demand
9.2.3 Lanthanum
9.2.3.1 Elements Overview & Supply Risks
9.2.3.2 Supply & Demand
9.2.4 Cerium
9.2.4.1 Elements Overview & Supply Risks
9.2.4.2 Supply & Demand
9.2.5 Dysprosium
9.2.5.1 Elements Overview & Supply Risks
9.2.5.2 Supply & Demand
9.2.6 Samarium
9.2.6.1 Elements Overview & Supply Risks
9.2.6.2 Supply & Demand
9.2.7 Europium
9.2.7.1 Elements Overview & Supply Risks
9.2.7.2 Supply & Demand
10 Market by Application
10.1 Magnets
10.2 NiMH Batteries
10.3 Auto Catalysts
10.4 Diesel Engines
10.5 Fluid Cracking Catalyst
10.6 Phosphers
10.7 Glass
10.8 Polishing Powders
10.9 Other Applications
11 Overview on Mining and Processing of Ion-Adsorption Clays
11.1 Current Technologies
11.2 Typical Costs Involved With Processing RE Oxides
12 Overcoming the Potential Shortfalls in Supply
12.1 Stockpiling
12.2 Recycling
12.3 Substitution
12.4 Material Shortfall Strategies by Various Rare Earth Consumers
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Lynas Corporation Ltd.
13.3.2 Arafura Resources Limited
13.3.3 Great Western Minerals Group Ltd.
13.3.4 Avalon Advanced Materials Inc.
13.3.5 Greenland Minerals Ltd
13.3.6 Alkane Resources Ltd
13.3.7 Neo Performance Materials
13.3.8 Iluka Resource Limited
13.3.9 IREL (India) Limited
13.3.10 Canada Rare Earths Corporation
Figure 2: Topology of Rare Earth Elements
Figure 3: Global: Rare Earth Metal Reserves by Country (in Million Metric Tons), 2023
Figure 4: Global: Rare Earth Metal Reserves by Country (in %), 2023
Figure 5: Comparative Total Rare Earth Oxide Values of Various Rare Earth Mines
Figure 6: Kvanefjeld Project Capital Cost Estimated Breakdown
Figure 7: Global: Sources of Rare Earth Metals
Figure 8: Flow Chart: Concentration of Rare Earth Ores
Figure 9: Flow Chart: Extraction of Rare Earths from their Concentrated Ores
Figure 10: China & US: Average Labor Costs Per Hour (in US$), 2023
Figure 11: Global: Rare Earth Metals Production (in 000’ Metric Tons), 2018-2023
Figure 12: Global: Rare Earth Metals Market (in Billion US$), 2018-2023
Figure 13: Global: Rare Earth Metals Production Forecast (in 000’ Metric Tons), 2024-2032
Figure 14: Global: Rare Earth Metals Market Forecast (in Billion US$), 2024-2032
Figure 15: Global: Rare Earth Metals Production by Country (in %), 2023
Figure 16: Bayan Obo Rare Earth Mine: Composition of Various Elements (in %)
Figure 17: Longnan Rare Earth Mine: Composition of Various Elements (in %)
Figure 18: Xunwu Rare Earth Mine: Composition of Various Elements (in %)
Figure 19: India Rare Earth Mine: Composition of Various Elements (in %)
Figure 20: Eastern Coast Rare Earth Mine: Composition of Various Elements (in %)
Figure 21: Lahat Rare Earth Mine: Composition of Various Elements (in %)
Figure 22: Mt Weld Rare Earth Mine: Composition of Various Elements (in %)
Figure 23: Mountain Pass Rare Earth Mine: Composition of Various Elements (in %)
Figure 24: Nolans Rare Earth Mine: Composition of Various Elements (in %)
Figure 25: Steenkampskraal Rare Earth Mine: Composition of Various Elements (in %)
Figure 26: Kvanefjeld Rare Earth Mine: Composition of Various Elements (in %)
Figure 27: Dong Pao Rare Earth Mine: Composition of Various Elements (in %)
Figure 28: Dubbo Zirconia Rare Earth Mine: Composition of Various Elements (in %)
Figure 29: Nechalacho Rare Earth Mine: Composition of Various Elements (in %)
Figure 30: Global: Rare Earth Elements Consumption by Region (in %), 2023
Figure 31: Global: Rare Earth Elements Consumption by Region Forecast (in %), 2032
Figure 32: Praseodymium: Supply & Demand Balance (in Metric Tons), 2023
Figure 33: Praseodymium: Historical Prices (in US$/kg), 2018-2023
Figure 34: Praseodymium: Price Forecast (in US$/kg), 2024-2032
Figure 35: Neodymium: Supply & Demand Balance (in Metric Tons), 2023
Figure 36: Neodymium: Historical Prices (in US$/kg), 2018-2023
Figure 37: Neodymium: Price Forecast (in US$/kg), 2024-2032
Figure 38: Terbium: Supply & Demand Balance (in Metric Tons), 2023
Figure 39: Terbium: Historical Prices (in US$/kg), 2018-2023
Figure 40: Terbium: Price Forecast (in US$/kg), 2024-2032
Figure 41: Yttrium: Supply & Demand Balance (in Metric Tons), 2023
Figure 42: Yttrium: Historical Prices (in US$/kg), 2018-2023
Figure 43: Yttrium: Price Forecast (in US$/kg), 2024-2032
Figure 44: Lanthanum: Supply & Demand Balance (in Metric Tons), 2023
Figure 45: Lanthanum: Historical Prices (in US$/kg), 2018-2023
Figure 46: Lanthanum: Price Forecast (in US$/kg), 2024-2032
Figure 47: Cerium: Supply & Demand Balance (in Metric Tons), 2023
Figure 48: Cerium: Historical Prices (in US$/kg), 2018-2023
Figure 49: Cerium: Price Forecast (in US$/kg), 2024-2032
Figure 50: Dysprosium: Supply & Demand Balance (in Metric Tons), 2023
Figure 51: Dysprosium: Historical Prices (in US$/kg), 2018-2023
Figure 52: Dysprosium: Price Forecast (in US$/kg), 2024-2032
Figure 53: Samarium: Supply & Demand Balance (in Metric Tons), 2023
Figure 54: Samarium: Historical Prices (in US$/kg), 2018-2023
Figure 55: Samarium: Price Forecast (in US$/kg), 2024-2032
Figure 56: Europium: Supply & Demand Balance (in Metric Tons), 2023
Figure 57: Europium: Historical Prices (in US$/kg), 2018-2023
Figure 58: Europium: Price Forecast (in US$/kg), 2024-2032
Figure 59: Diesel Particulate Filter
