United States 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 United States Neodymium Market Insights, Industry Trend, Forecasts to 2035

United States Neodymium Market Insights Forecasts to 2035

• The US Neodymium Market Size Was Estimated at USD 50.4 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 13.29% from 2025 to 2035
• The US Neodymium Market Size is Expected to Reach USD 198.9 Million by 2035

According to a research report published by Spherical Insights & Consulting, The United States Neodymium Market Size is anticipated to reach USD 198.9 Million by 2035, growing at a CAGR of 13.29% from 2025 to 2035. The expansion of the United States neodymium market is propelled by the growing need for permanent magnets in a variety of sectors.

Market Overview

Neodymium (Nd) belongs to the lanthanide class and has an atomic number of 60. Neodymium, or NdFeB, is the most abundant silvery rare-earth metal. NdFeB can be mined using several methods, including bonded and sintered. NdFeB also provides exceptional magnetic properties and is tolerant of elevated temperatures. These properties lead to increased use in the manufacture of permanent magnets. It is projected that the continuous expansion of sectors like electronics and automobiles will increase adoption of the product. The healthcare sector is increasing in application of products to assist with rapid healing, as well as to decrease swelling, and the ever-increasing advances in electric motors will help to sustain market growth throughout the forecast period. As the national trends of more environmental issues and the demand for sustainable options grow, demand for the electric vehicle (EV) segment will continue to rise. Neodymium is recognized as the premier magnet to use in EV motors due to its high magnetic properties. Brushless Direct Current (BLDC) motors, which are utilised in more than 90% of electric vehicle applications, are the main application for NdFeB. Additionally, there is a rapid growth in the use of strong magnets in electric vehicles. The magnets are used in distributor sensors, electric generators, CAM sensors, alternators, pump motors, starters, distributor sensors, anti-lock brake system sensors, ignition coils, and power steering motors. Therefore, the increasing use of electric vehicles and technological advancements will drive the expansion of the U.S. neodymium market.

Report Coverage

This research report categorizes the market for the United States 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 States 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 States neodymium market.

Driving Factors

The growth of the United States' neodymium market is boosted by the increasing demand from major industries like electronics and the automotive industry. Compared to conventionally based magnets, NdFeB magnets are compact and lightweight while providing a stronger and better-performing magnetic field. Furthermore, consumers' hectic work-life balance and adjustment of routines are part of the trend of using modern devices to enable lifestyle enhancements. NdFeB magnets are the most common magnets, used in every industry. For instance, levitation devices, electronics, MRI scanners, door catchers, bearings, jewellery, and ABS sensors.

Restraining Factors

The United States neodymium market faces obstacles like expensive mining, supply chain disruptions, demand from the electronics and automotive sectors, government legislation based on environmentally friendly energy sources, and neodymium's footprint. So, the NdFeB price is affected.

Market Segmentation

The United States 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 remarkable CAGR during the forecast period.

The United States neodymium market is segmented by application into magnets, catalyst, ceramic & glass, and others. Among these, the magnets segment held the largest market share in 2024 and is expected to grow at a remarkable CAGR during the forecast period. NdFeB drives the segment is used to make small devices like computer hard drives, smartphones, and loudspeakers, because it is an exceptionally strong permanent magnet. Also, NdFeB is favored in EVs because it is lighter and cheaper than SmCo magnets.

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

Based on the end use, the United States neodymium market is segmented into automotive, electrical & electronics, wind energy, and others. Among these, the automotive segment held the highest revenue share in 2024 and is expected to grow at a significant CAGR during the forecast period. The segmental growth is propelled by UKings NdFeB magnets, which are extensively used in the automotive sector; therefore, the market is highly reliant on this end-use segment. Due to technological advancements, NdFeB magnets are becoming more and more common as a static component in electric motors.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States neodymium 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 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

• TMRC
• MP Materials Corp Ordinary Shares Class A
• Texas Mineral Resources Corp.
• Energy Fuels Inc.
• NioCorp Developments Ltd.
• UCore Rare Metals
• American Rare Earths Inc.
• E VAC Magnetics
• Lynas Rare Earths Ltd
• Others

Recent Development

• In April 2025, the U.S. launched a large-scale program to reclaim rare earth elements (REEs) from hard disk drives (HDDs), which are essential components of cloud data center infrastructure. HDDs utilize rare earths such as neodymium (Nd), praseodymium (Pr), and dysprosium (Dy) for their magnetic properties, enabling precise data reading and writing.

Key Target Audience

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

Market Segment

This study forecasts revenue at the United States, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the United States Neodymium market based on the following segments:

United States Neodymium Market, By Application

• Magnets
• Catalyst
• Ceramic & Glass
• Others

United States Neodymium Market, By End Use

• Automotive
• Electrical & Electronics
• Wind Energy
• Others