The Global Praseodymium Oxide Market was valued at USD 248.7 Million in 2023 and is projected to reach USD 387.5 Million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period (2024–2030). This robust growth is primarily driven by escalating demand for permanent magnets in electric vehicles and wind turbines, increasing consumption of ceramic pigments in construction and electronics, and the expanding application of praseodymium in specialized catalysts for petroleum refining.

As the global economy pivots towards green technology and advanced materials, the role of rare earth elements like praseodymium has become strategically critical. In this blog, we profile the Top 10 Companies in the Praseodymium Oxide Industry—a group of mining giants, specialized processors, and chemical manufacturers that form the backbone of this vital supply chain.

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🔟 1. China Northern Rare Earth (Group) High-Tech Co., Ltd.

Headquarters: Baotou, Inner Mongolia, China
Key Offering: Praseodymium Oxide (Pr6O11) – 99%, 99.9%, 99.99%, 99.999% purity grades

China Northern Rare Earth is the world’s largest producer of rare earth elements, holding a dominant position in the global supply of light rare earths, including praseodymium. The company operates the massive Bayan Obo mining and processing complex, which contains the world’s largest known rare earth deposit.

Strategic Initiatives:

• Vertical integration from mining to high-purity oxide production

• Significant investments in R&D for magnet and catalyst applications

• Expanding production capacity to meet growing global demand for NdFeB magnets

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9️⃣ 2. Metall Rare Earth Limited (MREL)

Headquarters: Shenzhen, Guangdong, China
Key Offering: High-purity Praseodymium Oxide, Praseodymium Neodymium Oxide

MREL is a leading global supplier of rare earth materials, specializing in the separation and purification of rare earth oxides. The company has established a strong reputation for supplying consistent, high-quality products to the magnet, ceramic, and catalyst industries worldwide.

Strategic Initiatives:

• Focus on producing high-value, specification-grade rare earth oxides

• Strategic partnerships with magnet manufacturers in Europe and North America

• Implementation of advanced separation technologies to improve yield and purity

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8️⃣ 3. Ganzhou Qiandong Rare Earth Group Co., Ltd.

Headquarters: Ganzhou, Jiangxi, China
Key Offering: Praseodymium Oxide, Ionic Rare Earth Oxides

Ganzhou Qiandong is a major player in China’s southern ionic rare earth sector, known for its expertise in processing medium and heavy rare earth elements. The company has developed sophisticated extraction and separation technologies tailored to the unique characteristics of ionic clay deposits.

Strategic Initiatives:

• Specialization in ionic adsorption clay rare earth resources

• Development of environmentally sustainable mining and processing methods

• Expansion of high-purity rare earth oxide production capacity

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7️⃣ 4. Lynas Rare Earths Ltd.

Headquarters: East Perth, Western Australia, Australia
Key Offering: Praseodymium Neodymium (PrNd) Oxide, Separated Praseodymium Oxide

Lynas is the largest rare earths producer outside of China, operating the Mount Weld mine in Australia and the Lynas Advanced Materials Plant in Malaysia. The company is a crucial supplier to markets seeking diversification from Chinese rare earth dominance.

Strategic Initiatives:

• Strategic expansion of separation capacity to increase PrNd oxide output

• Development of a rare earth processing facility in the United States

• Long-term supply agreements with automotive and renewable energy sectors

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6️⃣ 5. Alkane Resources Ltd.

Headquarters: Perth, Western Australia, Australia
Key Offering: Mixed Rare Earth Oxides, Praseodymium-rich products

Alkane Resources operates the Dubbo Project in New South Wales, Australia, which contains a large in-ground resource of rare earth elements, zirconium, and other specialty metals. The company is developing advanced processing capabilities for producing high-purity separated rare earth oxides.

Strategic Initiatives:

• Development of the Dubbo Project as a long-life, multi-element resource

• Focus on producing critical materials for high-technology applications

• Establishing partnerships with downstream processors and end-users

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5️⃣ 6. Arafura Resources Limited

Headquarters: Perth, Western Australia, Australia
Key Offering: Praseodymium Neodymium Oxide, Separated Rare Earth Oxides

Arafura is developing the Nolans Rare Earths Project in the Northern Territory of Australia, which is poised to become a significant producer of neodymium and praseodymium oxide. The project features an integrated mine and processing plant designed to produce separated rare earth oxides.

Strategic Initiatives:

• Development of the Nolans Project as a fully integrated rare earth operation

• Focus on supplying the permanent magnet market for electric vehicles and wind turbines

• Implementation of innovative processing technologies to optimize recovery

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4️⃣ 7. MP Materials

Headquarters: Las Vegas, Nevada, USA
Key Offering: Rare Earth Concentrates, Praseodymium Neodymium Oxide

MP Materials owns and operates the Mountain Pass rare earth mine in California, the only active rare earth mining and processing site in the United States. The company is ramping up its separation capabilities to produce high-purity praseodymium and neodymium oxides for domestic and international markets.

Strategic Initiatives:

• Restoration of full rare earth separation capability at Mountain Pass

• Strategic partnerships with major magnet manufacturers and end-users

• Investment in recycling technologies to create a circular supply chain

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3️⃣ 8. Indian Rare Earths Limited (IREL)

Headquarters: Mumbai, Maharashtra, India
Key Offering: Rare Earth Chlorides, Praseodymium Oxide

IREL is a government-owned corporation and India’s primary producer of rare earth materials. The company operates mineral separation plants and has access to significant beach sand mineral resources containing rare earth elements.

Strategic Initiatives:

• Expansion of rare earth processing capacity to support domestic industrial needs

• Development of value-added products for strategic sectors

• Collaboration with research institutions to advance processing technologies

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2️⃣ 9. Rainbow Rare Earths Ltd.

Headquarters: London, United Kingdom
Key Offering: Rare Earth Concentrates, Phosphate-based rare earth products

Rainbow Rare Earths is developing the Phalaborwa Rare Earths Project in South Africa, which utilizes a novel process to extract rare earth elements from phosphogypsum stacks. The company aims to become a significant producer of neodymium and praseodymium with a low environmental footprint.

Strategic Initiatives:

• Development of the Phalaborwa Project as a near-term producer of NdPr oxide

• Implementation of innovative extraction technology for secondary sources

• Focus on creating a sustainable and environmentally responsible supply chain

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1️⃣ 10. Rare Element Resources Ltd.

Headquarters: Littleton, Colorado, USA
Key Offering: Rare Earth Concentrates, High-purity Separation Technology

Rare Element Resources is advancing the Bear Lodge Project in Wyoming, which contains one of the largest disseminated rare earth deposits in North America. The company is developing proprietary separation technology to produce high-purity rare earth products efficiently.

Strategic Initiatives:

• Development of the Bear Lodge Project with innovative processing methods

• Focus on producing critical rare earths for clean energy technologies

• Strategic partnerships to advance project development and offtake agreements

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🌍 Outlook: The Future of Praseodymium Oxide Is Brighter and More Strategic

The praseodymium oxide market is undergoing a fundamental transformation. While traditional applications in ceramics and glass polishing remain important, the explosive growth in electric vehicles and renewable energy is driving unprecedented demand for praseodymium in permanent magnets. This shift is creating both opportunities and challenges for producers and consumers alike.

📈 Key Trends Shaping the Market:

• Supply Chain Diversification: Growing efforts to establish rare earth production outside of China to mitigate geopolitical risks

• Technological Innovation: Development of more efficient separation processes and recycling technologies to improve sustainability

• Strategic Partnerships: Increasing collaboration between mining companies, processors, and end-users to secure stable supply chains

• Regulatory Support: Government policies and incentives supporting domestic production of critical minerals in major economies

The companies profiled above are not merely suppliers of a chemical compound—they are enablers of the global energy transition and foundational to modern technology ecosystems. As demand for praseodymium oxide continues to grow, their strategic importance will only increase.

Read Full Report:
Praseodymium Oxide Market – View in Detailed Research Report