North America Rare Earth Elements Market Size & Outlook
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North America rare earth elements market highlights
- The North America rare earth elements market generated a revenue of USD 87.1 million in 2024.
- The market is expected to grow at a CAGR of 9.1% from 2025 to 2030.
- In terms of segment, neodymium was the largest revenue generating product in 2024.
- Samarium is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2025 to 2030.
North America data book summary
| Market revenue in 2024 | USD 87.1 million |
| Market revenue in 2030 | USD 141.5 million |
| Growth rate | 9.1% (CAGR from 2025 to 2030) |
| Largest segment | Neodymium |
| Fastest growing segment | Samarium |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Cerium, Dysprosium, Erbium, Europium, Gadolinium, Holmium, Lanthanum, Lutetium, Neodymium, Praseodymium, Promethium, Samarium, Scandium, Terbium, Thulium, Ytterbium, Yttrium |
Other key industry trends
- In terms of revenue, North America region accounted for 2.2% of the global rare earth elements market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 141.5 million by 2030.
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Rare Earth Elements Market Scope
Rare Earth Elements Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Northern Minerals | View profile | 51-100 | Perth, Western Australia, Australia, Oceania | http://northernminerals.com.au/ |
| Iluka Resources Ltd | View profile | 5001-10000 | Perth, Western Australia, Australia, Oceania | http://www.iluka.com |
| Hitachi Metals | View profile | 10001+ | Minato, Chiba, Japan, Asia | http://www.hitachi-metals.co.jp |
| China Northern Rare Earth High-Tech | View profile | 5001-10000 | Baotou, Nei Mongol, China, Asia | http://www.reht.com |
| Alkane Res | View profile | 51-100 | Dubbo, New South Wales, Australia, Oceania | http://www.alkane.com.au/ |
| Ucore Rare Metals | View profile | 11-50 | Bedford, Nova Scotia, Canada, North America | http://ucore.com/ |
| Rare Element Resources | View profile | 11-50 | Lakewood, Colorado, United States, North America | http://www.rareelementresources.com/ |
| Energy Transition Minerals Ltd | View profile | 28 | 111 Collins Street, Level 6, Melbourne, VIC, Australia, 3000 | https://www.etransmin.com |
| Avalon Advanced Materials Inc | View profile | 9 | 130 Adelaide Street West, Suite 1901, Toronto, ON, Canada, M5H 3P5 | https://www.avalonadvancedmaterials.com |
| Arafura Rare Earths Ltd | View profile | 6 | 432 Murray Street, Level 6, Perth, WA, Australia, 6000 | https://www.arultd.com |
| Lynas Rare Earths Ltd | View profile | 911 | 1 Howard Street, Level 4, Perth, WA, Australia, 6000 | https://www.lynascorp.com |
| Shin-Etsu Chemical Co Ltd | View profile | 25717 | 6-1, Ohtemachi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-0004 | http://www.shinetsu.co.jp |
North America rare earth elements market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to rare earth elements market will help companies and investors design strategic landscapes.
Neodymium was the largest segment with a revenue share of 33.98% in 2024. Horizon Databook has segmented the North America rare earth elements market based on cerium, dysprosium, erbium, europium, gadolinium, holmium, lanthanum, lutetium, neodymium, praseodymium, promethium, samarium, scandium, terbium, thulium, ytterbium, yttrium covering the revenue growth of each sub-segment from 2018 to 2030.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America rare earth elements market , including forecasts for subscribers. This continent databook contains high-level insights into North America rare earth elements market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America rare earth elements market size, by country, 2018-2030 (US$M)
North America Rare Earth Elements Market Outlook Share, 2024 & 2030 (US$M)
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