https://www.maximizemarketresearch.com/market-report/rare-earth-metals-market/122166/ The Rare-Earth Metals Market was valued at US$ 5.96 Billion in 2023. The need for these materials in the fabrication of magnets and catalysts for the automobile industry is driving the market. Cerium is commonly utilised as a catalyst in automobile catalytic converters, whereas neodymium and praseodymium are used in the creation of electric vehicle batteries. According to the International Energy Agency, the global stock of electric automobiles surpassed 5 million in 2019, up 63 % from 2018.