2024 Rare Earth Supply and Demand Overview: Strong Demand for Neodymium and Didymium in Magnet Applications
05/08/2025 14:32
The Rare Earth Committee of the Japan New Metals Association (Chairman: Shinichi Watanabe, Director of Taiyo Koko Co., Ltd.) has released the actual demand data for rare earth products in 2024. Demand increased for applications in magnets and batteries, while it declined for phosphors, automotive catalysts, and abrasives. Despite this, total demand for rare earth products reached 18,835 tons, marking a 14.6% year-on-year increase.
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