The International Energy Agency estimates the global rare earth market size to be approximately $6.4 billion: China, Brazil, and India rank top three in reserves.
According to a report from the International Energy Agency (IEA), the global market size for rare earth elements is estimated at around $6.4 billion.
The report states: "Compared to major industrial metal markets, the global rare earth element market is relatively small, yet it is growing due to increasing demand from electrification and advanced technologies. The current total market value of these elements is estimated to be approximately $6.4 billion."
The IEA points out that although the market size is relatively small, rare earth elements play an disproportionately important role, as they are essential components of modern economies—spanning automotive parts, medical devices, aerospace, defense, and digital technologies.
The IEA notes that China holds about half of the world’s rare earth element reserves, amounting to approximately 44 million tons of oxides. Brazil ranks second with around 21 million tons of reserves, while India ranks third with 7.2 million tons.
Original source: toutiao.com/article/1861919088609411/
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