Rare Earth Minerals Statistics & Forecast 2026-2030: Global Production by Country and Leading Companies
Global rare earth elements production is projected to reach 350,000-400,000 metric tons annually by 2030, driven by surging demand from EV batteries, wind turbines, and defense applications. China maintains dominance while Australia, the US, and emerging producers accelerate capacity expansion.
Executive Summary
The rare earth elements (REE) market stands at a critical inflection point as global demand accelerates while supply remains concentrated. The 17 rare earth elements—including neodymium, praseodymium, dysprosium, and terbium—are essential for electric vehicle motors, wind turbine generators, consumer electronics, and defense systems. This analysis examines production statistics, company positioning, and market forecasts through 2030.
Global Production Overview 2024-2025
Global rare earth oxide production reached approximately 300,000 metric tons in 2024, with China accounting for roughly 60% of global output. Recent November developments include expanded processing capacity announcements and strategic supply agreements between Western automakers and non-Chinese producers.
The United States Geological Survey (USGS) provides authoritative production statistics, while industry tracking from S&P Global and the Critical Minerals Association offer real-time market intelligence.
Table 1: Rare Earth Production by Country (2024-2030 Forecast)
| Country | 2024 Production (MT) | 2026 Forecast (MT) | 2028 Forecast (MT) | 2030 Forecast (MT) | CAGR 2024-2030 |
|---|---|---|---|---|---|
| China | 180,000 | 195,000 | 210,000 | 220,000 | 3.4% |
| United States | 43,000 | 55,000 | 70,000 | 85,000 | 12.0% |
| Australia | 18,000 | 28,000 | 38,000 | 50,000 | 18.5% |
| Myanmar | 31,000 | 35,000 | 38,000 | 40,000 | 4.3% |
| India | 2,900 | 5,000 | 8,000 | 12,000 | 26.7% |
| Russia | 2,700 | 4,000 | 6,000 | 8,000 | 19.8% |
| Thailand | 7,100 | 8,500 | 10,000 | 12,000 | 9.1% |
| Vietnam | 4,300 | 6,000 | 8,000 | 10,000 | 15.1% |
| Brazil | 500 | 2,000 | 5,000 | 8,000 | 58.7% |
| Canada | 400 | 3,000 | 7,000 | 12,000 | 76.2% |
| Global Total | 290,000 | 341,500 | 400,000 | 457,000 | 7.9% |
Sources: USGS, company disclosures, industry estimates. Forecasts based on announced projects and capacity expansion plans.