In the latter half of 2025, Praseodymium Oxide registered a notable increase in price due to the tightening of global supply conditions, coupled with an increase in demand from high-tech industries. The global Praseodymium Oxide market became active due to the halt in the supply of raw materials from a key rare earth producer in the United States, which stopped supplying raw materials to China, focusing instead on processing the raw materials within the country. In addition, the tightening of control in China over the export of rare earth materials led to a squeeze in the global supply chain, which caused an upward movement in the price of Praseodymium Oxide.
Demand was robust during the period, driven mainly by the manufacturing of electric vehicles, wind energy projects, and electronic devices, which require permanent magnets. Moreover, the boost in manufacturing activities in China during the peak season helped boost demand. In addition, the government’s efforts in Western countries to set up local facilities to process rare earth materials and establish independent supply chains helped boost the prices.