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Dysprosium Market

Market Insights on Dysprosium covering sales outlook, demand forecast & up-to-date key trends

Dysprosium Market By Product Type (Metal, Oxide, Acetate, Chloride), Application (Permanent Magnet, Laser Material, Commercial Lightning, Nuclear Reactor, Others) & Region - Forecast 2022 - 2032

Dysprosium Market Overview

Global Dysprosium demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2% to be valued at US$ 8.8 Billion from 2022 to 2032. Due to its dominance as a producer of rare earth elements, Asia Pacific is claimed to be the largest consumer of dysprosium.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 5 Billion

Expected Market Value (2022)

US$ 5.3 Billion

Anticipated Forecast Value (2032)

US$ 8.8 Billion

Projected Growth Rate (2022-2032)

5.2% CAGR

The worldwide dysprosium market is expected to increase significantly over the forecast period, owing to rising demand from the automotive and electronics sectors. Furthermore, the increased use of permanent magnets in consumer electronics such as Smartphones, televisions, and loudspeakers is boosting the worldwide dysprosium market.

Furthermore, new trends such as electric mobility, clean energy, energy efficiency, and automation are projected to increase the usage of dysprosium, propelling the worldwide dysprosium market growth. Alternatively, different technical advances in dysprosium manufacturing are expected to provide profitable prospects for the development of the dysprosium market in the future years.

Which are Some Prominent Drivers Spearheading Dysprosium Market Growth?

The need for dysprosium from vehicle manufacturing firms is one of the primary drivers for the market's growth, owing to the high demand for dysprosium in the creation of batteries, which require many pounds of rare earth elements. Furthermore, dysprosium is used in the production of neodymium-iron-boron high permanent magnets, which are injected into joints to treat rheumatoid arthritis. As a result, high demand from the healthcare sector is projected to drive dysprosium demand in the market.

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What are the Challenges Faced by the Dysprosium Industry?

Dysprosium price fluctuations may impede the global dysprosium market in the future.

Why is Asia-Pacific emerging as an Opportunistic Dysprosium Market?

The Asia Pacific area led the global market for dysprosium. The area is expected to maintain its supremacy during the projection period. This regional dominance can be linked to the region's fast expanding automotive sector, which has fueled the development of electric cars, which is the regional demand for dysprosium. Furthermore, the region's dysprosium market is being driven by the region's burgeoning electronics industry.

Nikhil Kaitwade
Principal Consultant
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How is Europe Contributing to Growth of the Dysprosium Market?

The market for dysprosium in Europe is thriving and expected to continue to do so during the forecast period.  According to Future Market Insights, The European dysprosium market is expanding considerably during the next decade due to the region’s increasing demand for laser materials as well as permanent magnets.

Market Competition

Some of the key participants present in the global Dysprosium market include Lynas (Australia), Arafura (Australia), Molycorp (California), Avalon (Canada), Greenland Minerals, Tasman Metals Ltd. and Quest Rare Minerals among others.

Attributed to the presence of such high number of participants, the market is highly competitive.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 5.2% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Product Type
  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Lynas (Australia)
  • Arafura (Australia)
  • Molycorp (California)
  • Avalon (Canada)
  • Greenland Minerals
  • Tasman Metals Ltd.
  • Quest Rare Minerals

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Key Segments Profiled in the Dysprosium Industry Survey

Product Type:

  • Metal
  • Oxide
  • Acetate
  • Chloride
  • Others

Application:

  • Permanent Magnet
  • Laser Material
  • Commercial Lightning
  • Nuclear Reactor
  • Others

Region:

  • North America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Latin America
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global Dysprosium market to expand at a 5.2% value CAGR by 2032

Asia Pacific is expected to be the most opportunistic Dysprosium market, expanding significantly over the forecast period.

Lynas (Australia), Arafura (Australia), Molycorp (California), Avalon (Canada), Greenland Minerals, Tasman Metals Ltd. and Quest Rare Minerals among others, are some prominent Dysprosium manufacturers

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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