Global Dysprosium Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Metal, Oxide, Acetate, Chloride, and Others), By End User (Automotive, Renewable Energy, Electronics, Military & Defense, Industrial Applications, Medical, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Dysprosium Market Size Insights Forecasts to 2035

• The Global Dysprosium Market Size Was Valued at USD 0.99 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 5.15 % from 2025 to 2035
• The Worldwide Dysprosium Market Size is Expected to Reach USD 1.72 Billion by 2035
• North America is expected to Grow the fastest during the forecast period.  

According to a Research Report Published by Spherical Insights and Consulting, The Global Dysprosium Market Size was worth around USD 0.99 Billion in 2024 and is predicted to Grow to around USD 1.72 Billion by 2035 with a compound annual growth rate (CAGR) of 5.15% from 2025 to 2035. Opportunities in the dysprosium market are fueled by growing investments in rare earth processing and supply chain diversification projects, as well as the growing need for permanent magnets in advanced electronics, electric vehicles, renewable energy technologies, and defense applications.  

Market Overview       

The global industry that explores, mines, extracts, processes, distributes, and commercializes dysprosium, a heavy rare-earth metal used for its magnetic, thermal, and neutron-absorbing qualities, is referred to as the Dysprosium Market. Dysprosium serves as an essential material for creating high-performance permanent magnets, which include neodymium-iron-boron (NdFeB) magnets that find common use in electric vehicles and wind turbines, consumer electronics, and advanced industrial equipment. In May 2025, Lynas Rare Earths Ltd. launched commercial production of dysprosium oxide in Malaysia, becoming the first producer outside China and strengthening supply for high-performance magnets in renewables and electric vehicles. The market expansion for dysprosium is anticipated to be driven by the growing government demand for naval ships and marine. Furthermore, the market is expanding due to the rising demand for robots, industrial automation systems, and sophisticated consumer electronics.  

Report Coverage   

This research report categorizes the dysprosium market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the dysprosium market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the dysprosium market.          

Driving Factors     

The growing need for high-performance permanent magnets used in wind turbines, electric cars, and sophisticated industrial machinery worldwide is propelling the dysprosium market. Dysprosium's vital function in improving thermal stability and magnetic strength in neodymium-iron-boron (NdFeB) permanent magnets is what propels the market.  Dysprosium is crucial for high-temperature and high-efficiency applications because it improves the heat resistance and longevity of neodymium-iron-boron magnets. Demand is also being strengthened by government programs that favor low-carbon technologies and the rapid electrification of transportation networks. The industry is growing as a result of the quick development of renewable energy infrastructure, especially offshore wind power plants.

Restraining Factors   

Supply chain concentration, geopolitical risks, strict environmental regulations, high extraction and processing costs, price volatility, the scarcity of economically viable reserves, and technological difficulties related to rare earth separation and refining processes are some of the factors that are restricting the dysprosium market.

Market Segmentation   

The dysprosium market share is classified into product type and end user.       

• The oxide segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.                 

Based on the product type, the dysprosium market is divided into industrial metal, oxide, acetate, chloride, and others. Among these, the oxide segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Dysprosium oxide is used extensively in the manufacturing of high-performance neodymium-iron-boron (NdFeB) permanent magnets, which improve magnetic stability and heat resistance and are crucial for wind turbine generators and electric cars. Dysprosium oxide is also utilized in phosphors, control rods for nuclear reactors, sophisticated ceramics, and specialty glass applications.

• The renewable energy segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.        

Based on the end user, the dysprosium market is divided into automotive, renewable energy, electronics, military & defense, industrial applications, medical, and others. Among these, the renewable energy segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.  The need for long-lasting and highly efficient magnetic materials has grown dramatically as governments around the world keep spending money on renewable energy infrastructure to meet carbon neutrality goals.  

Regional Segment Analysis of the Dysprosium Market

• North America (U.S., Canada, Mexico) 
• Europe (Germa ny, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the dysprosium market over the predicted timeframe.  

Asia Pacific is anticipated to hold the largest share of the dysprosium market over the predicted timeframe. The region benefits from well-established supply chains, sophisticated refining facilities, and substantial rare earth element manufacturing capacity. Dysprosium is necessary for improved thermal stability and efficiency in the production of consumer electronics, electric vehicles, high-performance magnets, and renewable energy components, all of which are produced in nations like China, Japan, and South Korea. More than 70–85% of the world's mined output and more than 90% of its dysprosium separation are produced in China, mostly from resources in the provinces of Jiangxi and Inner Mongolia. This leadership is reinforced by government launches. China prioritizes domestic requirements while retaining strategic influence through its continued export licenses and controls.

North America is expected to grow at a rapid CAGR in the dysprosium market during the forecast period. The region's governments are making significant investments in vital technologies for recycling, processing infrastructure, and mineral exploration in an effort to lessen reliance on a small number of global suppliers. Procurement and stockpiling are supported by the 2026 Critical Minerals Ministerial and funding initiatives of the U.S. Department of Energy. "Project Vault" creates a strategic reserve worth billions of dollars for dysprosium and associated materials. Cooperation on processing and diversification is facilitated by bilateral arrangements with Malaysia and Australia (2025–2026).   

Competitive Analysis:      

The report offers the appropriate analysis of the key organizations/companies involved within the dysprosium market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.    

List of Key Companies

• Advanced Rare Earth Projects Ltd.
• Arafura Resources Limited
• China Minmetals Corporation
• China Northern Rare Earth Group High-Tech Co. Ltd.
• GMV Minerals Inc.
• Iluka Resources Limited
• Inner Mongolia Baotou Steel Rare-Earth
• Lynas Corporation
• MP Materials Corp.
• Shenghe Resources Holding Co. Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In February 2026, the Critical Minerals Ministerial launched “Project Vault,” a $12 billion U.S. strategic reserve led by EXIM, prioritizing dysprosium stockpiling and supporting allied projects through bilateral MOUs and $30 billion financing commitments.

• In November 2025, MP Materials Corp. launched plans to commence dysprosium and terbium production by mid-2026, supporting 10,000 mt NdFeB magnet output annually and advancing its “10X” magnet manufacturing facility targeted for 2028 operations.

Market Segment  

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the dysprosium market based on the below-mentioned segments:    

Global Dysprosium Market, By Product Type

• Metal
• Oxide
• Acetate
• Chloride
• Others

Global Dysprosium Market, By End User

• Automotive
• Renewable Energy
• Electronics
• Military & Defense
• Industrial Applications
• Medical
• Others

Global Dysprosium Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa