Dysprosium Market Size, Share, Trends, Growth 2032

Dysprosium Industry Prospective:

The global dysprosium market size was worth around USD 5.59 billion in 2023 and is predicted to grow to around USD 8.82 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.20% between 2024 and 2032.

The study covers the key drivers and restraints for the dysprosium market and their market impact within the forecast period. Furthermore, the study also includes the opportunities accessible within the Dysprosium Market on a global level.

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Dysprosium Market: Growth Drivers

Dysprosium is a rare earth component that has a bright silver-metallic appearance with low toxicity, which is extremely smooth to cut with a knife. Dysprosium has been in use in commercial lighting applications to produce laser products and study chemical reactions. It is also used as neutron-absorbing bars in nuclear reactors and in hard disks and wind turbines.

The global dysprosium market is projected to witness substantial growth over the next few years, owing to the rising applications of dysprosium in the automotive sector. Dysprosium is widely used to manufacture batteries and in permanent magnets. Moreover, the emerging trends of electric mobility, clean energy, energy efficiency, and automation are likely to also enhance the use of dysprosium, which, in turn, will propel the global dysprosium market growth.

However, the fluctuating prices of dysprosium may hinder the global dysprosium market in the future. Alternatively, various technological advancements in the production of dysprosium are projected to offer lucrative opportunities for the development of dysprosium market in the upcoming years.

In order to offer the users of this report, a comprehensive read of the dysprosium market, we have enclosed a detailed value chain analysis. To know the competitive landscape within the market, an analysis of Porter’s Five Forces model for the dysprosium market has additionally been enclosed within the study. The study includes a market attractiveness analysis, wherein all the segments are benchmarked supported their market size, growth rate, and general attractiveness.

The study also includes the market share of the key participant’s operating in the dysprosium market across the globe. Additionally, the report covers the strategic development together with acquisitions & mergers, agreements, partnerships, collaborations, and joint ventures, and regional growth of key players within the market on a regional basis.

Dysprosium Market : Report Scope

Dysprosium Market: Segmentation

The dysprosium market is classified based on type and application.

The type segment of dysprosium market includes oxide, metal, acetate, chloride, and others. Dysprosium oxide is projected to be the most dominating segment among others. Dysprosium oxide is widely used in various applications, such as laser material and commercial lighting.

The basis of the application into permanent magnet, laser material, commercial lightning, nuclear reactor, and others. The permanent magnet segment is anticipated to be the fastest growing in the future, owing to the rising demand for permanent magnets in electric vehicle traction motors and wind power generators.

Dysprosium Market: Regional Analysis

The regional classification includes Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

In 2018, the Asia Pacific region dominated the global dysprosium market. The region is projected to continue its dominance over the forecast period as well. This regional dominance can be attributed to the rapidly flourishing automotive industry in the region, which has propelled the production of electric vehicles that is the regional demand for dysprosium. Moreover, the surging electronics industry is another key driving factor for the region’s dysprosium market. The dysprosium market in European and North American regions is projected to grow significantly over the upcoming years, owing to the rising demand for laser materials and permanent magnets.

Dysprosium Market: Competitive Analysis

The global dysprosium market is led by players like:

• Greenland Minerals
• Lynas
• Molycorp
• Arafura
• Tasman Metals
• Avalon Advanced Materials
• Quest Rare Minerals
• Metall Rare Earth
• Canada Rare Earth
• HEFA Rare Earth Canada

This report segments the global dysprosium market into:

Global Dysprosium Market: Type Analysis

• Metal
• Oxide
• Acetate
• Chloride
• Others

Global Dysprosium Market: Application Analysis

• Permanent Magnet
• Laser Material
• Commercial Lightning
• Nuclear Reactor
• Others

Global Dysprosium Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa