Neodymium-Praseodymium Oxide (NdPr) Market size is estimated to be USD 2.3 Billion in 2024 and is expected to reach USD 5.4 Billion by 2033 at a CAGR of 10.5% from 2026 to 2033.
In 2022, the global Neodymium Praseodymium Oxide (NdPr) market was valued at approximately USD 2.1 billion, with projections indicating growth to around USD 4.2 billion by 2030, reflecting a compound annual growth rate (CAGR) of about 9.4%. This expansion is primarily driven by the increasing demand for NdPr in the production of high strength magnets essential for electric vehicles (EVs), wind turbines, and various electronic devices. The Asia Pacific region, particularly China, dominates the market due to its substantial rare earth element reserves and advanced processing capabilities. Chinas dominance is underscored by its control over more than 80% of the global NdPr supply, which presents both opportunities and challenges for the market. North America and Europe are also significant contributors to the NdPr market. In North America, the emphasis on renewable energy projects and the growing adoption of EVs are fueling demand. Europe mirrors this trend, with stringent environmental regulations and a strong push towards green technologies driving the need for NdPr based components. However, the heavy reliance on Chinese exports has prompted these regions to explore alternative sources and invest in local production facilities to mitigate supply chain risks. Additionally, the global focus on sustainability has led to increased investments in recycling processes to reclaim rare earth elements from end of life products, further influencing market dynamics.
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Lynas Corporation
Iluka Resources
Arafura
Molycorp
IREL Limited
Ucore Rare Metals
Alkane Resources Ltd
China Northern Rare Earth (Group) High-Tech Co.
Ltd
Baotou Hefa Rare Earth Co. Ltd.
Sunlux Rare Metal
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Neodymium-Praseodymium Oxide (NdPr) Market
Permanent Magnets
Catalysts
Glass and Ceramics
Alloys
Other Industrial Applications
Powder Form
Sintered Form
Liquid Form
Aerospace
Automotive
Electronics
Renewable Energy
Defense
Low Purity (<99%)
Medium Purity (99% - 99.9%)
High Purity (>99.9%)
Direct Sales
Distributors
Online Sales Platforms
Retail Stores
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Neodymium-Praseodymium Oxide (NdPr) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Neodymium-Praseodymium Oxide (NdPr) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Neodymium-Praseodymium Oxide (NdPr) Market, By Type
6. Global Neodymium-Praseodymium Oxide (NdPr) Market, By Application
7. Global Neodymium-Praseodymium Oxide (NdPr) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Neodymium-Praseodymium Oxide (NdPr) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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