The market size of rare earth polishing powder continues to expand, and national policies promote industry development

Rare earth polishing powder refers to a powder of mixed light rare earth oxides with cerium oxide as the main component used to improve the surface finish of products or parts. According to different production processes, it can be divided into low cerium polishing powder and medium cerium polishing powder. and high cerium polishing powder.

The upstream of the rare earth polishing powder industry chain is the exploration, mining and supply of production equipment of rare earth resources; the midstream is the production of products; the downstream is widely used in spectacle lenses, display screens, photomasks, mobile phone covers, precision optics and other fields.

Rare earths are non-renewable mineral resources. The state implements a mandatory plan for the mining of rare earth raw ores, limiting the total annual mining and separation. The upstream bargaining power of the rare earth polishing powder industry is small.

According to the “In-depth Market Research and Investment Analysis Report on Rare Earth Polishing Powder Industry in 2023” released by the Industrial Research Center, in recent years, with the As my country’s economy and development level continue to improve, big data, artificial intelligence and other technologies continue to advance, and high-tech industries such as precision instruments continue to develop, driving the rare earth polishing powder market to continue to expand. In 2019, my country’s rare earth polishing powder market size was approximately 700 million yuan, and in 2022, the market size will be close to 1 billion yuan, with a compound annual growth rate of approximately 12.6% from 2019 to 2022. From the perspective of the downstream market, mobile phone covers were the main application field of rare earth polishing powder in the early days. In 2019, mobile phone covers accounted for more than 70% of the rare earth polishing powder market. In recent years, as my country’s scientific and technological strength has continued to increase, the high-tech industry has continued to develop. , precision optics and other fields, the market share continues to increase, accounting for nearly 45% in 2022.

In recent years, the country has issued a number of policies to encourage and support the research, development and production of key basic materials. In August 2022, the General Office of the Ministry of Industry and Information Technology and other departments launched the “Implementation Plan for the “Three Products” of the Raw Material Industry”, proposing to implement actions to improve key basic materials, improve the production and application platform of new materials, optimize the upstream and downstream cooperation mechanisms, and focus on high performance , functional and differentiated new material products, focusing on the development of key basic materials such as high-temperature alloys, high-performance special alloys, rare earth functional materials, bio-based and bio-medical materials. As one of the important rare earth functional materials, rare earth polishing powder has a good development environment.

There are a large number of rare earth polishing powder manufacturers in my country, mainly concentrated in Inner Mongolia, Hunan, Gansu, Shandong and other places. Among them, companies with strong competitive advantages include China Northern Rare Earth (Group) High-Tech Co., Ltd. and Gansu Rare Earth New Materials Co., Ltd. , Shandong Maifeng New Material Technology Co., Ltd., Kaisheng Technology Group Co., Ltd., Baotou Huaxing Rare Earth Technology Co., Ltd., etc.

Industry analysts said that with the country’s increasing emphasis on high-end manufacturing and key basic materials, the scale of the domestic high-tech industry With continuous expansion, the market demand for rare earth polishing powder will continue to grow, and the industry has good development prospects. Rare earth polishing powder manufacturers need to continuously improve production technology, optimize product quality and performance, increase investment in environmental protection, reduce pollution emissions, and promote the industry to develop in a sustainable direction.