レアアースのインド市場の評価：元素別、用途別、最終用途産業別、地域別、機会、予測（2019年度～2033年度）

インドのレアアースの市場規模は、2025年度の7,436万米ドルから2033年度に2億2,308万米ドルに達すると予測され、2026年度～2033年度の予測期間にCAGRで14.72%の成長が見込まれます。市場は、EVの急速な普及により近年大きく成長しており、今後の政府の戦略的介入により、今後数年間は力強い拡大ペースを維持すると予測されます。同国は新技術の採用によるEVの増産に注力しており、それによって高性能なレアアースへのニーズが高まっています。効率的なEV部品の生産に向け、レアアース、特にネオジムの需要が高速で増加しています。さらに、風力/太陽エネルギーインフラの拡大、先進の電子機器と防衛部品の生産の増加など、複数の要因がレアアースの堅調な拡大に寄与しており、予測期間におけるレアアース市場の成長をさらに促進しています。

例えば2024年現在、インドは世界のスマートフォン製造国の上位5ヶ国に入っています。さらに、インドは現在、自立した世界的競争力を持つ電子機器製造拠点となることを使命としています。同国はスマートフォンやスマートホームから先進の医療機器や人工衛星まで製造しており、このことはレアアース需要が今後数年で増加することを明示しています。

さらに政府は、国内でのレアアース製品の採掘、精製、加工を支援する複数の政策や構想を打ち出しており、このことが予測期間の市場に機会をもたらしています。さらに、複数の規制改革、インセンティブ、研究や技術への投資が、今後数年間の市場拡大をさらに促進します。最後に、同国は世界第3位のレアアース埋蔵量を誇り、現在の採掘量はその潜在力のほんの一部に過ぎないため、今後数十年の拡大する余地と成長機会が非常に大きいことが浮き彫りになっています。

当レポートでは、インドのレアアース市場について調査分析し、市場規模と予測、市場力学、主要企業の情勢などを提供しています。

目次

第1章 プロジェクトの範囲と定義

第2章 調査手法

第3章 米国関税の影響

第4章 エグゼクティブサマリー

第5章 顧客の声

• 回答者の人口統計
• 購入決定において考慮される要素
• アンメットニーズ

第6章 インドのレアアース市場の見通し（2019年度～2033年度）

• 市場規模の分析と予測
  • 金額
  • 数量
• 市場シェアの分析と予測
  • 元素別
    • ランタン
    • セリウム
    • ジスプロシウム
    • エルビウム
    • ユーロピウム
    • ガドリニウム
    • ホルミウム
    • ルテチウム
    • ネオジム
    • プラセオジム
    • テルビウム
    • イットリウム
    • その他
  • 用途別
    • 磁石
    • ガラス
    • セラミックス
    • 触媒
    • 冶金
    • 研磨
    • その他
  • 最終用途産業別
    • 自動車
    • コンシューマーエレクトロニクス
    • 再生可能エネルギー
    • 防衛
    • その他
  • 地域別
    • 北部
    • 南部
    • 東部
    • 西部・中部
  • 市場シェア分析：企業別（上位5社とその他）（金額）（2025年度）
• 市場マップ分析（2025年度）
  • 元素別
  • 用途別
  • 最終用途産業別
  • 地域別

第7章 需給の分析

第8章 輸入と輸出の分析

第9章 バリューチェーン分析

第10章 ポーターのファイブフォース分析

第11章 PESTLE分析

第12章 市場力学

• 市場促進要因
• 市場の課題

第13章 市場動向と発展

第14章 政策と規制情勢

第15章 競合情勢

• マーケットリーダー上位5社の競合マトリクス
• 上位5社のSWOT分析
• 主要6社の市場企業の情勢
  • IREL (India) Limited
  • Gujarat Mineral Development Corporation Limited
  • Hindustan Zinc Limited
  • TREI Private Limited
  • Trafalgar Rare Earth Alloys Private Limited.
  • Star Earth Minerals Private Limited

第16章 戦略的提言

第17章 調査会社について・免責事項

List of Tables

• Table 1. Competition Matrix of Top 5 Market Leaders
• Table 2. Mergers & Acquisitions/ Joint Ventures (If Applicable)
• Table 3. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

• Figure 1. India Rare Earth Metals Market, By Value, In USD Million, FY2019-FY2033F
• Figure 2. India Rare Earth Metals Market, By Volume, In Thousand Tons, FY2019-FY2033F
• Figure 3. India Rare Earth Metals Market Share (%), By Element, FY2019-FY2033F
• Figure 4. India Rare Earth Metals Market Share (%), By Application, FY2019-FY2033F
• Figure 5. India Rare Earth Metals Market Share (%), By End-user Industry, FY2019-FY2033F
• Figure 6. India Rare Earth Metals Market Share (%), By Region, FY2019-FY2033F
• Figure 7. By Element Map-Market Size (USD Million) & Growth Rate (%), FY2025
• Figure 8. By Application Map-Market Size (USD Million) & Growth Rate (%), FY2025
• Figure 9. By End-user Industry Map-Market Size (USD Million) & Growth Rate (%), FY2025
• Figure 10. By Region Map-Market Size (USD Million) & Growth Rate (%), FY2025

India rare earth metals market is projected to witness a CAGR of 14.72% during the forecast period FY2026- FY2033, growing from USD 74.36 million in FY2025 to USD 223.08 million in FY2033. The India rare earth metals market has experienced significant growth in recent years due rapid adoption of EVs, and upcoming strategic government interventions is expected to maintain a strong pace of expansion in the coming years. The country is focusing on increasing the production of EVs as adopting the modern technology at a significant rate, thereby amplifying the need for high-performance rare earth metals. For the production of efficient EV components, the demand for rare earth metals, especially neodymium, is increasing at a high rate. Moreover, several factors are contributing for the robust expansion of rare earth metals such as the expansion of wind and solar energy infrastructure, and increased production of advanced electronics and defense components, further proliferating the rare earth metals market growth in the forecast period.

For instance, as of 2024, India ranked among the top five smartphone manufacturing countries globally. Moreover, India is now on a mission to become a self-reliant and globally competitive electronics manufacturing hub. Country is manufacturing smartphones and smart homes to advanced medical devices and satellites which highlight that the demand for rare earth metals will increase in the coming years.

In addition, the government is coming up with several policies and initiatives which supports domestic mining, refining, and processing of rare earth metal products which is creating the opportunity for the market in the forecast period. Moreover, several regulatory reforms, incentives and investments in research and technology which further catalyze market expansion in the coming years. Lastly, the country holds the world's third-largest, rare earth reserves, and current mining output is only a fraction of its potential which highlights the immense scope of expansion and opportunity to grow in the coming decades.

Growth in Electric Vehicles (EVs) Amplifying Market Size

The country is highly involved in the adoption of electric vehicles (EVs) and hybrid vehicles which drive the demand for rare earth metals in the market. The rising demand for EVs boosts the demand for various elements such as neodymium, praseodymium, and dysprosium as elements are utilized in the production of high-performance permanent magnets. The magnets are deployed in the EV motors to make the equipment lightweight and efficient in performance. In addition, magnets are essential for permanent magnet synchronous motors (PMSMs). Currently, the materials are preferred for the technology used in most modern EVs as a material helps efficiency with high torque while maintaining compact size, thus driving the demand for rare earth metals in the market.

Furthermore, automotive manufacturers are anticipated to invest in the full transition to electric powertrains using magnet systems thus increasing the rare earth metals market size in the next few years. The automotive industry is moving toward clean mobility which is further fueling growth in the rare earth metals market in the country.

For instance, in June 2025, India's EV market crossed a milestone with 1.96 million EVs registered in fiscal year 2024-2025, a 17% jump over the previous year. The growth is broad-based across all vehicle segments. This development highlights that the adoption of EVs is increasing in the country which will drive the demand for rare earth metals in the coming years.

Rising Government Initiatives Towards Environmental Policies Creating Market opportunities

Rising government initiatives focused on environmental policies are creating significant market opportunities for rare earth metals in India. The Indian government is introducing new initiatives to increase rare earth metal production, to minimize ecological harm. The authorities are promoting sustainable mining practices through clear regulations, time-bound environmental clearances, and recycling of waste during the mining. The government policies focus on reducing imports of rare earth metals from other countries while ensuring that mineral extraction aligns with the country's environmental and net-zero goals.

For instance, in April 2025, India decided to launch the National Critical Mineral Mission (NCMM) which highlights the framework for self-reliance in critical minerals, including rare earth elements. The main agenda of the mission is to increase exploration, mining, and processing activities. Even, the Geological Survey of India has been tasked to undertake 1,200 exploration projects by 2031 which boost the production of rare earth metals in the coming years.

The government is pushing the public-private partnerships and international collaborations which will foster the entire value chain. Similarly, the upcoming policies are boosting the extraction of rare earth metals thereby opening new investment and business opportunities. Moreover, the government is focusing on the upliftment of the wind power sector by investing in large in wind farms. With the rising investment in wind farms, the demand for wind turbine generators will increase thereby boosting the demand for rare earth metals in the market.

Dominance of Neodymium Segment in the India Market

The neodymium segment holds the highest market share as material is becoming a critical component in the production of high-performance permanent magnets which are highly used in the production of electric vehicle (EV) motors, wind turbines, and other variety of electronic devices. With the rising shift towards the renewable energy sector and the adoption of advanced electronic devices the need for magnets has surged, thereby driving the demand for neodymium in the market. Moreover, the government's push to localize rare earth processing and incentivize domestic magnet manufacturing is making the neodymium segment to dominate in the market. As India continues to pursue ambitious green energy targets and technological advancement, the demand for neodymium is expected to remain on a strong upward trajectory.

West and Central Region Dominate the Global Market

Combination of several factors such as industrial expansion and strategic government initiatives, makes West and Central regions to dominate in the Indian rare earth metals market. The region has major hubs for the automotive, electronics, and renewable energy component manufacturing which involve the use of advanced materials, thereby driving the demand for rare earth metals in the region. Component manufacturers are using the rare earth metals to produce high-performance and compact magnets which are used in various industries. Several companies are collaborating and opening new production plants to produce advanced EV motors which could boost the efficiency of EV.

For instance, in May 2025, EVA motors inaugurated the Napino Manufacturing line in Halol, Gujarat, India. Even now the plant is officially up and running. The manufacturing line boasts high-quality manufacturing of EV motors and testing capabilities, ensuring that the motors meet all standards of customers. This development highlight that companies are opening new plants for EV sector which drive the demand for rare earth metals in the market.

Additionally, the government's initiative-taking policies such as production-linked incentives for domestic rare earth magnet manufacturing, are encouraging investment and industrial activity in these regions. The west and central parts of India are also looking to increase exploration activities to identify and develop new rare earth reserves in the country. In addition, the government is focused on lowering imports from other countries and prioritizing local sourcing and processing of rare earths which ensures long-term growth of the market in the coming years.

Impact of United States Tariff on India Rare Earth Metal Market

Persistent market volatility and trade policy uncertainty resulting from United States tariffs can deter long-term investments and strategic partnerships in India's rare earth sector, making it harder for companies to plan expansions or secure stable export contracts.

If the United States extends tariffs to a broader range of Indian exports or imposes retaliatory measures, which could reduce India's competitiveness in its largest export market, potentially leading to lower revenues in the coming years.

High United States tariffs on Chinese and other competitors' rare earth metals can divert global buyers to Indian suppliers, offering India an opportunity to expand its export market share and strengthen its position in the global supply chain.

Key Players Landscape and Outlook

To increase revenue and market share, rare earth metal companies are investing in advanced refining technologies, expanding sustainable mining practices, forming strategic partnerships, and pursuing mergers and acquisitions. Companies are also developing vertically integrated supply chains, securing long-term offtake agreements, and diversifying geographically to reduce dependence on single markets and ensure robust supply. Product launches, agreements, business expansions, collaborations, and developing technologies are projected to increase competition in the fast-paced market.

For instance, in May 2025, IREL (India) Limited and NLC India Limited signed a memorandum of understanding (MOU) with the aim of jointly pursue opportunities in the exploration, mining, and processing of critical minerals and rare earth elements across domestic and global markets. The collaboration supports the government's push for strategic mineral security and self-reliance across high-growth sectors like defence, electronics, renewable energy, and electric vehicles. This development highlights that companies are entering into collaboration to increase the revenue in the coming years.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Impact of U.S. Tariffs

4. Executive Summary

5. Voice of Customer

• 5.1. Respondent Demographics
• 5.2. Factors Considered in Purchase Decisions
• 5.3. Unmet Needs

6. India Rare Earth Metals Market Outlook, FY2019-FY2033F

• 6.1. Market Size Analysis & Forecast
  • 6.1.1. By Value
  • 6.1.2. By Volume
• 6.2. Market Share Analysis & Forecast
  • 6.2.1. By Element
    • 6.2.1.1. Lanthanum
    • 6.2.1.2. Cerium
    • 6.2.1.3. Dysprosium
    • 6.2.1.4. Erbium
    • 6.2.1.5. Europium
    • 6.2.1.6. Gadolinium
    • 6.2.1.7. Holmium
    • 6.2.1.8. Lutetium
    • 6.2.1.9. Neodymium
    • 6.2.1.10. Praseodymium
    • 6.2.1.11. Terbium
    • 6.2.1.12. Yttrium
    • 6.2.1.13. Others
  • 6.2.2. By Application
    • 6.2.2.1. Magnets
    • 6.2.2.2. Glass
    • 6.2.2.3. Ceramics
    • 6.2.2.4. Catalysts
    • 6.2.2.5. Metallurgy
    • 6.2.2.6. Polishing
    • 6.2.2.7. Others
  • 6.2.3. By End-user Industry
    • 6.2.3.1. Automotive
    • 6.2.3.2. Consumer Electronics
    • 6.2.3.3. Renewable Energy
    • 6.2.3.4. Defence
    • 6.2.3.5. Others
  • 6.2.4. By Region
    • 6.2.4.1. North
    • 6.2.4.2. South
    • 6.2.4.3. East
    • 6.2.4.4. West and Central
  • 6.2.5. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2025)
• 6.3. Market Map Analysis, FY2025
  • 6.3.1. By Element
  • 6.3.2. By Application
  • 6.3.3. By End-user Industry
  • 6.3.4. By Region

All segments will be provided for all regions covered

7. Demand Supply Analysis

8. Import and Export Analysis

9. Value Chain Analysis

10. Porter's Five Forces Analysis

11. PESTLE Analysis

12. Market Dynamics

• 12.1. Market Drivers
• 12.2. Market Challenges

13. Market Trends and Developments

14. Policies and Regulatory Landscape

15. Competitive Landscape

• 15.1. Competition Matrix of Top 5 Market Leaders
• 15.2. SWOT Analysis for Top 5 Players
• 15.3. Key Players Landscape for Top 6 Market Players
  • 15.3.1. IREL (India) Limited
    • 15.3.1.1. Company Details
    • 15.3.1.2. Key Management Personnel
    • 15.3.1.3. Products and Services
    • 15.3.1.4. Financials (As Reported)
    • 15.3.1.5. Key Market Focus and Geographical Presence
    • 15.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 15.3.2. Gujarat Mineral Development Corporation Limited
  • 15.3.3. Hindustan Zinc Limited
  • 15.3.4. TREI Private Limited
  • 15.3.5. Trafalgar Rare Earth Alloys Private Limited.
  • 15.3.6. Star Earth Minerals Private Limited

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

16. Strategic Recommendations

17. About Us and Disclaimer