By Hannah Bernard | MiningIR
The global rare earth magnet market is projected to grow from US$21.98 billion in 2025 to US$30.01 billion by 2030, according to MarketsandMarkets. Its forecast represents a compound annual growth rate of 6.4%, supported by demand from electric vehicles, electronics, energy and industrial applications. The figure estimates the value of the magnet market, rather than revenue from rare earth mining.
Rare earth magnets deliver considerable magnetic strength in a compact form. Neodymium-iron-boron magnets are widely used in applications where size and performance matter, while samarium-cobalt magnets can perform at higher temperatures. Growing demand for these products is drawing attention to every stage of their supply chain, from mineral exploration to recycling and manufacturing.
Among TSXV-listed companies, Mkango Resources (TSXV: MKA) has one of the clearest connections to finished magnets. Its HyProMag business recycles rare earth magnets, with recycling and manufacturing activities in the UK and Germany and a proposed US expansion. CoTec Holdings (TSXV: CTH) is a partner in the HyProMag USA project, giving it exposure to that proposed operation.
Ucore Rare Metals (TSXV: UCU) is working at a different point in the chain. The company is developing rare earth separation capacity and has announced arrangements with magnet manufacturers concerning potential oxide supply. It has also reported producing dysprosium oxide samples for customer evaluation. Those steps address the processing link between rare earth feedstock and the materials magnet makers need.
On the exploration side, Sorrento Resources (CSE: SRS) has reported rare earth results from its Bottom Brook project in Newfoundland, identifying neodymium and praseodymium among the elements relevant to permanent magnets. Spark Energy Minerals (CSE: SPRK) has reported magnet-related rare earth oxides, including neodymium, praseodymium, dysprosium and terbium, in drilling at its Arapaima project in Brazil. Both remain upstream exploration stories; neither disclosure establishes commercial magnet supply.
The forecast helps explain interest in these businesses, but market growth will not benefit every project equally. Manufacturers are pursuing recycling and ways to reduce their use of costly heavy rare earths, while new mines and processing facilities require substantial capital and technical work.
For investors, the useful distinction is where a company sits in the chain. Exploration results, separated oxides, recycled material and finished magnets represent different products and different stages of development. As demand grows, the companies able to connect those stages commercially will be best placed to serve the market.
Source: MarketsandMarkets rare earth magnets market forecast.
