Dysprosium Market Share Driven by Demand for High-Performance Magnets and Clean Energy Technologies | Valuates Reports

Dysprosium Market
The global market for Dysprosium was valued at US$ million in the year 2024 and is projected to reach a revised size of US$ million by 2031, growing at a CAGR of %during the forecast period.

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The global dysprosium market is experiencing significant growth, driven by its critical role in the production of high-performance magnets essential for electric vehicles (EVs), wind turbines, and advanced electronics. As industries transition towards clean energy solutions, the demand for dysprosium has surged, positioning it as a pivotal component in the manufacturing of neodymium-iron-boron (NdFeB) magnets. These magnets are integral to the efficiency and performance of various green technologies, thereby driving the market's expansion.

In the type segment, the 99% purity grade of dysprosium currently holds the largest market share due to its widespread application across various industries. However, the 99.9% and 99.99% purity grades are witnessing the fastest growth. These high-purity grades are increasingly demanded in applications requiring superior magnetic properties and thermal stability, such as in aerospace and defense sectors. The growing emphasis on performance and miniaturization in electronic devices is further propelling the demand for these high-purity dysprosium grades.

The application segment is led by the magnetic material sector, which accounts for a significant portion of dysprosium consumption. This is closely followed by the hydrogen storage materials and luminescent material applications, where dysprosium compounds are utilized for their unique properties. The growing adoption of EVs and renewable energy systems is expected to further bolster the demand in the magnetic material segment, while advancements in lighting and display technologies will drive the need for dysprosium in luminescent applications.

Leading companies in the dysprosium market include Hastings Technology Metals, Treibacher Industrie, Australian Strategic Materials, Metall Rare Earth Limited, Chenguang, and Ganzhou GORING High-tech Material. These firms are at the forefront of production and innovation, with Hastings Technology Metals being a dominant player, accounting for over 75% of global production and more than 60% of processing capacity. Their strategic initiatives focus on expanding production capacities and enhancing the quality of dysprosium to meet the growing market demands.

Regionally, Asia-Pacific holds the largest share of the dysprosium market, with China leading as the primary producer and consumer. The region accounted for over 50% of global demand in 2023, driven by the rapid growth of EV and electronics industries. North America and Europe are also significant markets, with increasing consumption in the defense, aerospace, and renewable energy sectors. The market is expected to continue its upward trajectory, with technological advancements and supportive policies fueling further growth in the coming years.

by Type

• 99% Purity
• 99.9% Purity
• 99.99% Purity

by Application

• Hydrogen Storage Materials
• Luminescent Material
• Magnetic Material

By Company

Hastings Technology Metals, Treibacher Industrie, Australian Strategic Materials, Metall Rare Earth Limited, Chenguang, Ganzhou GORING High-tech Material

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