The global lanthanum market is estimated to be around US$1,217.655 million in 2025 and is anticipated to grow to US$1,989.158 million by 2030 at a CAGR of 10.32%.
Lanthanum is a type of ductile metal, which is the second most reactive rare-earth metal. Lanthanum is mostly used across multiple products, like TVs, fluorescent tubes, and energy-saving lamps, among others. Lanthanum is also used as a catalyst in petroleum refineries and the polishing of glasses. Lanthanum is found abundantly in nature and is silver in appearance. Lanthanum is also used in the optics field as lenses. The metals also act as an important component of the mischmetal alloy, in which about 20% of lanthanum is used.
Lanthanum also offers an important application in the nickel metal-hydride (NiMH) batteries of hybrid automobiles. The growth of hybrid automobiles in the global market is estimated to boost the market demand for lanthanum in the global market.
Similarly, the growth of global consumer electronics sales in the market is also expected to boost the growth of the lanthanum market during the forecasted timeline. In consumer electronics, metal is used in multiple devices, like televisions and fluorescent tubes.
One of the major driving factors for lanthanum metal in the global market is estimated to be the growth in the demand for hybrid automobiles. In hybrid automobiles, lanthanum is used in nickel-metal-hydride (NiMH) batteries. Lanthanum is mixed with the negative electrode (cathode) in the NiMH batteries. The global hybrid car market has witnessed multi-fold growth in recent years and is expected to attain a growth rate greater than that of pure electric vehicles, with the development of technologies. One of the major driving factors behind the growth of hybrid vehicles, or plug-in hybrid vehicles (PHEVs), is the longer driving range of the vehicles, as compared to all-electric vehicles.
The increasing sales of hybrid vehicles or PHEVs in the global market are further estimated to boost the growth of the lanthanum metal market across the globe. The International Energy Agency stated in its report that the PHEV market has witnessed constant growth in recent years. The agency stated that in 2022, the total PHEVs sold in the European market were estimated at about 3.4 million, which grew to 4.5 million in 2023. Similarly, in the USA, about 0.9 million PHEVs were sold in 2022, which also grew to about 1.3 million in 2023.
The hybrid vehicles market is also expected to witness major growth with the introduction of policies and subsidy schemes. For instance, the US offers a Federal Tax Credit of up to US$7,500 for the purchase of new Plug-in Electric Vehicles in the nation, and a tax credit of up to US$4,000 for the purchase of pre-owned PHEVs. Similarly, Hyundai Motors, a global automotive leader, stated that most European nation offers multiple incentives, which can range as high as EUR3,750 for the purchase of PHEVs in the region.
One of the major driving factors for the growth in the global lanthanum market is the expanding demand for consumer electronics across the globe. Lanthanum metal is used across multiple products, as a key component, like in the batteries of portable electronics and televisions. The consumer electronics market, which includes electronic devices like televisions, among others, has witnessed a global expansion, mainly with the development of technologies.
The India Brand Equity Foundation stated that in 2021, the nation's appliance and consumer industry was recorded at about US$9.84 billion, which increased to about US$17.93 billion in 2022. Similarly, the electronics hardware production also grew to US$87 billion in 2022. Electronic Products and Technology, an organization funded by the Canadian Government, stated that in 2022, revenue from consumer electronics was recorded at US$1,011.7 billion, which grew to about US$1,051.5 billion in 2023.
The Asian Pacific region is estimated to attain a greater market share in the lanthanum market during the forecasted timeline. Lanthanum is among the key components that have applications across multiple industries, like automotive, consumer electronics, and scientific research laboratories. The region is among the biggest producer and consumers of consumer electronics products, like TVs, which uses lanthanum as a major component, and similarly, the growth of the automotive industry in the region is also expected to boost the growth of lanthanum in the Asian Pacific region.
Similarly, the growth in the market demand for hybrid vehicles in the region is also expected to propel the growth of lanthanum metal in the region, as the metal offers a key component application in the manufacturing of the nickel metal-hydride (NiMH) batteries for this type of vehicle. The International Energy Agency, in its electric car registration and sales share, stated that in 2022, about 1.5 million PHEVs were sold in China, which grew to about 2.7 million in 2023. In total, only about 2.9 million PHEVs were sold in 2022, and 4.3 million in 2023, in the globe's combined nations. China holds a prominent share in the global PHEV market, as the nation is the biggest producer and consumer of PHEVs in the world. Similarly, multiple countries in the region, like India, Malaysia, Singapore, and Taiwan, have also introduced multiple incentives and policies to boost the sales of PHEVs in the region, further boosting the growth of the lanthanum market in the region.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Lanthanum Market Size in 2025 | US$1,217.655 million |
| Lanthanum Market Size in 2030 | US$1,989.158 million |
| Growth Rate | CAGR of 10.32% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2025 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Million |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Lanthanum Market | |
| Customization Scope | Free report customization with purchase |