Story perspectives

Western Nations Boost Domestic Rare-Earth Magnet Production

12/24/2025

Summary

Story summary

Western nations aim to reduce reliance on China by building domestic rare-earth magnet supply chains.
Neo Performance Materials opened a factory in Estonia that will produce 2,000 metric tons this year, rising to 5,000 tons.
The global rare-earth magnet market is projected to grow from 250,000 to 600,000 tons over the next decade.
Industry leaders say these magnets are critical for advanced technologies, including electric vehicles and military applications.

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Story summary

Western nations aim to reduce reliance on China by building domestic rare-earth magnet supply chains.
Neo Performance Materials opened a factory in Estonia that will produce 2,000 metric tons this year, rising to 5,000 tons.
The global rare-earth magnet market is projected to grow from 250,000 to 600,000 tons over the next decade.
Industry leaders say these magnets are critical for advanced technologies, including electric vehicles and military applications.