Dysprosium Market Size to Reach USD 1,796.2 Million by 2035 as EV Magnet Demand and Recycling Activities Expand

According to DataM Intelligence, the dysprosium market size was valued at USD 1,041.6 million in 2025 and is projected to reach USD 1,796.2 million by 2035, registering a CAGR of 5.6% during the forecast period. The market continues to benefit from steady demand for permanent magnets used across electric vehicles, renewable energy systems, industrial automation, aerospace, and defense applications. Growing investments in heavy rare earth processing and efforts to diversify supply chains are also supporting long-term business opportunities.
The dysprosium market share is being influenced by rising production of electric vehicles, increasing deployment of offshore wind turbines, and wider use of high-performance magnetic materials. At the same time, recycling of permanent magnets and expansion of rare earth processing outside traditional supply hubs are becoming important parts of the market forecast. While supply remains concentrated, manufacturers and governments are working to strengthen alternative production and refining capabilities, creating new opportunities across the dysprosium industry.
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Dysprosium Market Recent Developments
• March 2026: Lynas Rare Earths Ltd. partnered with LS Eco Energy Ltd. to establish a rare earth metal-making facility in Vietnam, supporting regional processing capacity and improving supply options for heavy rare earth materials.
• January 2026: Energy Fuels Inc. announced the acquisition of Australian Strategic Materials Limited, strengthening its rare earth processing portfolio and expanding its position in the critical minerals sector.
• June 2026: Solvay S.A. signed a Letter of Intent with Viridis Mining and Minerals Ltd. to develop a strategic supply agreement for rare earth materials sourced from Brazil.
• October 2025: Sojitz Corporation began importing Australian-origin heavy rare earth materials from Lynas Rare Earths into Japan, supporting diversified sourcing for permanent magnet manufacturing.
• December 2025: REalloys entered a partnership with the Saskatchewan Research Council to support commercial-scale heavy rare earth production and refining activities in North America.

Dysprosium Market Mergers and Acquisitions
• 2026: Energy Fuels Inc. completed an agreement to acquire Australian Strategic Materials Limited, strengthening rare earth processing capabilities and expanding access to critical materials.
• 2026: Lynas Rare Earths Ltd. and LS Eco Energy Ltd. formed a strategic partnership to establish a rare earth production facility in Vietnam, supporting regional manufacturing capacity.
• 2026: Solvay S.A. entered a strategic supply agreement initiative with Viridis Mining and Minerals Ltd. to secure long-term rare earth material availability from Brazil.
• 2026: Industry participants continued expanding partnerships focused on heavy rare earth refining, recycling, and supply diversification to reduce dependence on concentrated processing regions.
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Dysprosium Market Segmentation
By Product Form
• Dysprosium Oxide
• Dysprosium Metal
• Dysprosium Compounds
• Dysprosium Alloys
• Others
Dysprosium oxide holds the largest market share due to its extensive use in high-performance permanent magnets and advanced ceramic applications.
By Purity Grade
• Standard Purity
• High Purity
• Ultra High Purity
• Electronic Grade
• Others
High-purity and electronic-grade dysprosium are experiencing strong demand, driven by applications in semiconductors, advanced electronics, and precision magnetic materials.
By Application
• Permanent Magnets
• Phosphors and Luminescent Materials
• Ceramics and Advanced Materials
• Neutron Absorbers
• Laser Crystals
• Magnetostrictive Materials
• Alloy Additives
• Others
Permanent magnets remain the dominant application, supported by rapid growth in electric vehicles, renewable energy systems, and industrial automation.
By End Use
• Automotive
• Renewable Energy
• Aerospace and Defense
• Industrial Equipment
• Electronics and Semiconductor
• Medical Equipment
• Research Institutes and Laboratories
• Others
The automotive and renewable energy sectors account for the largest share of dysprosium consumption due to increasing production of electric vehicles and wind turbines.
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Asia Pacific dominates the global dysprosium market owing to its leadership in rare earth mining, processing, and permanent magnet manufacturing.

Dysprosium Market Key Players
The competitive landscape of the market reflects the importance of secure raw material supply, refining capability, and long-term customer relationships. Companies are focusing on expanding mining projects, strengthening processing capacity, supporting recycling initiatives, and building partnerships that improve supply chain reliability. These strategies continue to shape the dysprosium market share across established and emerging suppliers.
Top Key Players
• Lynas Rare Earths Limited
• Iluka Resources Limited
• Energy Fuels Inc.
• USA Rare Earth, LLC
• Arafura Rare Earths Limited
Lynas Rare Earths Limited
Lynas Rare Earths Limited remains one of the leading non-China producers of rare earth materials. The company continues to strengthen processing capacity while supporting diversified supply chains for permanent magnet applications used across automotive, renewable energy, and industrial sectors.
Energy Fuels Inc.
Energy Fuels Inc. is expanding its role in the rare earth materials business through acquisitions and processing investments. Its strategy focuses on strengthening domestic production capabilities while supporting a more diversified supply network for critical minerals.
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Regional Analysis
Asia Pacific continues to lead the dysprosium market because of its strong position across mining, refining, permanent magnet manufacturing, and downstream processing activities. China remains the major contributor to regional demand and supply, supported by its well-established rare earth infrastructure. Japan and South Korea also contribute through advanced manufacturing capabilities and increasing interest in diversified rare earth sourcing.
Europe continues to strengthen its position by encouraging secure sourcing of critical minerals and supporting clean energy initiatives. Growing electric vehicle production, renewable energy installations, and industrial automation projects are contributing to regional demand. Other regions are also investing in exploration, refining, and recycling projects to improve long-term supply security and strengthen participation in the global dysprosium market growth.

Conclusion
The outlook for the dysprosium market growth remains positive as demand from electric vehicles, renewable energy systems, industrial equipment, and defense applications continues to support long-term consumption. Permanent magnets remain the primary application area, while recycling initiatives and new processing facilities are helping improve material availability and supply chain resilience.
The market trends indicate growing interest in diversified sourcing, regional processing, and recycling of permanent magnets. As companies continue investing in supply security and governments encourage critical mineral development, the industry is expected to maintain steady progress throughout the forecast period. These factors support a balanced dysprosium market forecast while creating opportunities for producers, processors, and end-use industries seeking reliable access to heavy rare earth materials.
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Industry Related Reports:
Terbium Market Share
The global Terbium Market reached USD 132.8 million in 2025 and is expected to reach USD 219 million by 2035, growing at a CAGR of 5.13% during 2026-2035. Rising demand for high-performance permanent magnets, advanced electronics, defense systems, and energy-efficient lighting is supporting market growth.
Explore Comprehensive Market Data: https://www.datamintelligence.com/research-report/terbium-market

Dysprosium Market Forecast
The global Dysprosium Market reached USD 1,041.6 million in 2025 and is expected to reach USD 1,796.2 million by 2035, growing at a CAGR of 5.6% during 2026-2035. Increasing use of high-coercivity permanent magnets in electric vehicles, offshore wind turbines, and clean energy technologies is driving market expansion.
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