United Kingdom Neodymium Market Size, Share, and COVID-19 Impact Analysis, By Application (Magnets, Catalyst, Ceramic & Glass, and Others), By End Use (Automotive, Electrical & Electronics, Wind Energy, and Others), and UK Neodymium Market Insights, Industry Trend, Forecasts to 2035

United Kingdom Neodymium Market Forecasts to 2035

• The United Kingdom Neodymium Market Size Was Estimated at USD 14.1 Million in 2024
• The UK Neodymium Market Size is Expected to Grow at a CAGR of around 13.43% from 2025 to 2035
• The UK Neodymium Market Size is Expected to Reach USD 56.4 Million by 2035

According to a research report published by Spherical Insights & Consulting, The UK Neodymium Market Size is anticipated to reach USD 56.4 Million by 2035, growing at a CAGR of 13.43% from 2025 to 2035. The growing need for permanent magnets in a variety of industries is the main factor behind the neodymium sector's rapid expansion.

Market Overview

The UK neodymium market includes a rare silvery metal with strong magnetic and heat resistance capabilities that is processed primarily through sintered and bonded processes. Increased use of NdFeB permanent magnets in the automotive and electronics industries has contributed to growing consumer demand. Neodymium is an important resource for high-performance applications, which are compact and strong, such as electric motors, wind turbines, and electronics. Demand for energy-efficient and compact technologies continues to push the neodymium market. This transition to electric vehicles and renewable energy is largely responsible, but demand is also increasing due to investment in smart electronics and energy storage systems. Advances in recycling rare earth elements and efficient magnet fabrication are helping to address supply chain issues and drive down costs. The aerospace sector presents growth opportunities with neodymium in jet engines and actuators. Medical applications, in imaging and therapy, are also being examined. Emerging technologies, such as smart grids and advanced manufacturing, are continuing to fuel the demand for neodymium. Recent trends have identified environmentally sustainable mining and processing profiles in an effort to minimize ecological impact. Geopolitical concerns and resource scarcity are also accelerating innovation in recycling and recovery technologies to ensure long-term neodymium availability.

Report Coverage

This research report categorizes the market for the UK neodymium market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United Kingdom neodymium 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 analyses their core competencies in each sub-segment of the United Kingdom neodymium market.

Driving Factors

The increasing sales of electric vehicles, driven by the UK government's incentives in the form of tax breaks and subsidies, are driving the neodymium industry. Demand is further increased due to neodymium's use in high-powered magnets and the growth of the renewable energy market, specifically wind turbines. Moreover, as medical imaging dominates the scene and higher health care costs rise, the use of neodymium in healthcare is increasing along with advancements such as MRI scanners and improvements to laser treatments.

Restraining Factors

The limited market for neodymium is constrained by environmental concerns of mining and processing activities, which may lead to pollution or disruption in natural habitats. Accessing rare earth elements is also restricted by supply disruptions and geopolitical issues. Expanding the commercial and intended use of neodymium-based products is also hindered by the high cost of manufacturing and issues around recycling. These factors hamper the neodymium market during the forecast period.

Market Segmentation

The United Kingdom neodymium market share is classified into application and end use.

• The magnets segment held the largest market share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The United Kingdom neodymium market is segmented by application into magnets, catalysts, ceramic & glass, and others. Among these, the magnets segment held the largest market share in 2024 and is expected to grow at a significant CAGR during the forecast period. The widely used permanent magnet NdFeB is used in the production of small devices such as computer hard drives, smartphones, and loudspeakers, and is considered a powerful magnet. Because they are cheaper and lighter than samarium cobalt (SmCo) magnets, NdFeB is also frequently used in EVs.

• The automotive segment held the highest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The United Kingdom neodymium market is segmented by end use into automotive, electrical & electronics, wind energy, and others. Among these, the automotive segment held the highest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. NdFeB magnets are extensively used in the automotive sector, which is an important end-use market segment. They are used increasingly as the static component of electric motors, which are increasingly common due to technological advances. There are several examples of electric motors in automotive applications, such as car door closing systems, windscreen wipers, and windows. NdFeB magnets perform better with smaller and lighter motors. With the continued trend in the automotive sector toward weight reduction, neodymium-based magnets will almost certainly be required and used at a greater level.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United Kingdom neodymium market and 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 elaborate 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

• Less Common Metals (LCM)
• Ionic Technologies
• HyProMag
• Eclipse Magnetics
• Cermag Ltd
• Cees Fasteners / Newland Magnetics
• Magnosphere
• Rainbow Rare Earths Limited
• Pensana Rare Earths Limited
• Lynas Rare Earths Ltd
• Others

Key Target Audience

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

Market Segment

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

United Kingdom Neodymium Market, By Application

• Magnets
• Catalyst
• Ceramic & Glass
• Others

United Kingdom Neodymium Market, By End Use

• Automotive
• Electrical & Electronics
• Wind Energy
• Others