Demand for rare earth oxides worldwide by application 2019 & 2025
Rare earth elements, and their oxides (REOs), consist of 17 elements, including cerium, dysprosium, erbium, and so on. They are used in many important applications, including in many technological applications. Increasing demand has put a strain on their supply, however, which comes mainly from China. In 2019, global REO demand for the production of magnets amounted to 43,733 metric tons, and is forecast to increase nearly double, to 82,469 metric tons by 2025.
