Global rare earth market set to double by 2030, says Chang

Published on 3 Nov 2025 3:20:56 PM

The global rare earth elements (REE) market is valued at USD3.9 to 13bil in 2024 and is expected to more than double to USD6 to 28bil by 2030, says Science, Technology and Innovation Minister Chang Lih Kang.

Speaking at the XThree Exploration Thorium and Rare Earth Seminar on Monday (Nov 3), Chang said the surge is fuelled by demand for electric vehicles, wind turbines and advanced electronics, highlighting REE’s importance to the clean energy transition.

He added that a Special Task Force on REE has also been formed to coordinate policies from exploration to processing and downstream development.

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Keywords
rare earth elements , ree processing , mineral sovereignty , chang lih kang , news, thestartv, the star, science, technology and innovation minister, ree processing industry, global supply chain, lynas, electric vehicles, wind turbines, advanced electronics, clean energy transition, special task force, processing, downstream development

Keywords:
rare earth elements , ree processing , mineral sovereignty , chang lih kang , news, thestartv, the star, science, technology and innovation minister, ree processing industry, global supply chain, lynas, electric vehicles, wind turbines, advanced electronics, clean energy transition, special task force, processing, downstream development