Praseodymium Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Praseodymium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Praseodymium Price Trend for the Second Half of 2023

Praseodymium prices were observed to be wavering downwards for the majority of the said period of H2’23. Praseodymium is primarily used by the electronics and automobile industries as an alloying agent and to make high-power magnets, etc. So, the demands from these sectors determine the market’s performance a lot.

Praseodymium Price Chart

Praseodymium Price Trends

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Such rare earth metals are majorly supplied from China in the global markets, so the price trend is greatly influenced by its performance in the Chinese market. In December 2023, the Chinese market showcased an approximate month-on-month decrease of about 8% and a year-on-year decrease of around 30%. The early months of the third quarter were noticed to be improving a little compared to H1’23. However, majorly, the market sentiments remained muted for praseodymium throughout the said period.

Analyst Insight

According to Procurement Resource, Praseodymium price trends are expected to fall further in the coming months as the inventories will likely dominate the demand patterns.

Praseodymium Price Trend for the First Half of 2023

Praseodymium is a light rare earth metal mainly found in the Asian region in metal ores in some oxide or other forms because of its hyperreactive nature. Praseodymium prices are usually dependent on its availability in the market and downstream demands as it has various important applications, such as manufacturing high-power magnets for smartphones, wind turbines, and electric motors.

Praseodymium prices observed a low swinging market behavior in the first half of the year 2023, as an approximate decline of about 30 – 34% was observed within the said period. It was mostly attributed to the normalization of upstream costs and transportation charges. But a dip in demand also pushed the prices down. Overall, muted market sentiments were observed.

Analyst Insight

According to Procurement Resource, the Praseodymium market is expected to expand in the future as new applications keep getting discovered. Overall, the predictions look positive for the price trend of Praseodymium.

Procurement Resource provides latest prices of Praseodymium. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Praseodymium, a silvery metal, is the third member of the lanthanide series. It is an element of f-block with 59 as its atomic number. Praseodymium is a soft, malleable, and ductile metal. It cannot be found in natural form as it is too reactive. Further, Praseodymium is highly valued for its magnetic, chemical, electrical, and optical properties.

Product Details

Report Features Details
Product Name Praseodymium
Chemical Formula Pr
Industrial Uses Alloying agent, High-power magnets, Catalyst, Carbon arc electrodes
Molecular Weight 140.9077 g/mol
Synonyms 7440-10-0, praseodimio, praseodyme
Supplier Database Umicore N.V, American Elements, ESPI Metals, Stanford Advanced Materials
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Praseodymium via Extraction from Monazite or Bastnasite Mineral Ores

Praseodymium is recovered or derived from monazite and bastnasite mineral ores via extraction process. First, monazite and bastnasite mineral ores are mined and extracted, which are further chemically refined to produce Praseodymium as the final product.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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