The Vietnamese rare earth market is forecast to grow from US$220 million in 2025 to US$836.65 million by 2034, representing a compound annual growth rate (CAGR) of 16 percent, according to a report from Research and Markets.→view source.
Key details:
- Industry structure: Split across upstream mining, midstream separation, and downstream high-value applications
- Current bottleneck: Low production capacity due to outdated extraction and processing technologies
- Government plans: ‘Overall Plan for Mineral Resources 2021-2030 (Vision 2050)’ targets advanced green mining system by 2045
- Demand outlook: Global demand rising, driven by electric vehicles, wind power, electronics, and satellite applications
- Market forecast: US$220 million (2025) to US$836.65 million (2034), CAGR 16.0 percent
- Forecast: Vietnam could scale commercial production as technologies and legal frameworks improve
See also: Vietnam’s Mining Industry 2025: Key Trends, Resources, and Data