<span style="box-sizing: border-box; font-size: 16px; font-family: 'Open Sans', Tahoma; color: rgba(0, 0, 0, 0.87);">A new market analysis reveals a strong growth trajectory for the global </span>rare earth metals recycling market<span style="box-sizing: border-box; font-size: 16px; font-family: 'Open Sans', Tahoma; color: rgba(0, 0, 0, 0.87);">. Valued at USD 258.2 million in 2023 and projected to grow from USD 282.2 million in 2024 to a substantial USD 561.3 million by 2031, the market is set to exhibit a robust Compound Annual Growth Rate (CAGR) of 10.33% during the forecast period. </span>

<span style="box-sizing: border-box; font-size: 16px; font-family: 'Open Sans', Tahoma; color: rgba(0, 0, 0, 0.87);">This significant expansion is primarily driven by increasing demand for rare earth elements in high-tech industries, growing concerns over the environmental impact and geopolitical risks associated with primary mining, and advancements in recycling technologies. </span>Beyond magnets, the recycling of rare earths from spent batteries (especially NiMH batteries in hybrid vehicles) and fluorescent lamps is a growing trend, driven by increasing volumes of e-waste and regulatory mandates for proper disposal. The "Permanent Magnets" application segment is anticipated to continue dominating the market. The persistent demand for high-performance permanent magnets in EVs, wind energy, and electronics directly fuels the need for recycled rare earths in their production. Magnets as a Primary Source: End-of-life permanent magnets, particularly those from electric vehicle motors, wind turbines, and consumer electronics, are becoming a crucial source for rare earth recycling. The high concentration of valuable rare earths like neodymium and dysprosium in these magnets makes their recovery highly attractive.

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