China's Dominance in Rare Earth Metals Critical to Global Industries

Rare earth metals, once considered non-strategic, became critical by the 2010s due to technological advances. China dominates 69% of global mining production, controlling key metallurgy processes. The market has grown by 13% annually since 2015, largely driven by neodymium, praseodymium, dysprosium, and terbium, essential for high-performance permanent magnets used in electric vehicles and electronics. Recycling efforts are underway, but establishing a new supply chain could take a decade.

Published Mar 30, 2026

Rare earth metals have transitioned from non-strategic to critical resources, especially since the 2010s, due to their role in technology such as permanent magnets in electric vehicles and wind turbines. China currently controls 69% of global mining and metallurgy, creating a potential supply risk for industries reliant on these metals.

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The market has experienced 13% annual growth since 2015, driven primarily by demand for neodymium, praseodymium, dysprosium, and terbium. Initiatives to develop recycling processes are in progress, but establishing a new supply chain may take around ten years.