Reflecting on 2024: Challenges and Adjustments in the Rare Earth Industry
The year 2024 was marked by significant global changes and challenges:
- The global economy was still in recovery mode, facing prominent geopolitical tensions, increasing trade barriers, and escalating financial risks.
- The global rare earth market encountered numerous challenges and tests.
Developments in China’s Rare Earth Industry
- As the core of the global supply chain, China’s rare earth separation and smelting capacities continued to expand.
- Structural adjustments within the industry accelerated, with NdFeB permanent magnet production capacity rapidly increasing.
- However, demand growth from end markets like new energy vehicles fell short of expectations.
- Traditional downstream industries, including catalysts, phosphor powders, glass, and ceramics, faced significant dilemmas.
International Market Dynamics
- A sluggish global economy slowed the development of downstream industries, such as the new energy vehicle market.
- Despite the challenges, overseas rare earth producers expanded production and strengthened vertical supply chains.
- Several rare earth projects pushed forward, defying the odds, all vying for greater market share.
Looking Ahead to 2025: Key Questions for the Rare Earth Industry
- How will Chinese rare earth prices fluctuate?
- How can China’s rare earth enterprises innovate and adapt to navigate the complex international landscape?
- What opportunities and challenges await the overseas rare earth market?
- Can emerging rare earth miners establish themselves globally?
- Will the new energy vehicle industry experience rapid growth?
- Can other rare earth downstream industries find paths to recovery?
Celebrating the Rare Earth Summit’s Legacy: 2011–2025
The Rare Earth Summit, first hosted by Asian Metal in 2011, has received strong support and participation from over 200 companies worldwide.
It has been successfully held in locations such as:
- China: Hangzhou, Ningbo, Chengdu, Nanning, Chongqing, Nanjing, Shanghai, Sanya, and Qingdao.
- United States: Pittsburgh and San Francisco.
Over the past 16 years, we’ve witnessed every up and down in the rare earth industry.
Join Us at the 16th Rare Earth Summit: May 15–16, 2025, in Ningbo, Zhejiang!
Ningbo, known as the “Capital of East Asian Culture” and “Capital of Chinese Magnetic Materials,” will host the event.
Asian Metal invites industry leaders from across the globe to:
- Exchange ideas,
- Collaborate on new development blueprints,
- And create a new chapter of win-win growth for the rare earth industry.
Also published on RareEarthExchanges.com
