Critical Minerals Market Global Report 2026

The critical minerals market size has grown strongly in recent years. It will grow from $329.16 billion in 2025 to $353.94 billion in 2026 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to rising demand from industrial manufacturing, expansion of electronics production, increasing mining activities in emerging economies, growth in steel and alloy production, and early adoption of electric vehicle batteries.

The critical minerals market size is expected to see strong growth in the next few years. It will grow to $469.79 billion in 2030 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increasing electrification across transportation systems, rising demand for battery-grade raw materials, expansion of renewable energy storage infrastructure, growing investments in deep-sea and rare earth mining activities, and increasing geopolitical emphasis on securing critical mineral supply chains. Major trends in the forecast period include increasing government-led strategic stockpiling of critical minerals, greater geographic diversification of mining and sourcing activities, expansion of long-term offtake agreements between mining companies and OEMs, increased exploration of previously untapped mineral reserves, and rising mergers and acquisitions across the mining and resources sector.

The continued development of renewable energy infrastructure is anticipated to drive the growth of the critical minerals market in the coming years. Renewable energy infrastructure encompasses the physical facilities and systems required to produce, transmit, and store energy generated from renewable sources, including solar panels, wind turbines, hydroelectric facilities, power grids, and energy storage systems. The expansion of renewable energy infrastructure is being supported by government initiatives and international commitments aimed at lowering carbon emissions, which are encouraging substantial investments in clean energy technologies. Critical minerals are vital to renewable energy infrastructure because they provide essential raw materials, including lithium, cobalt, and rare earth elements, required for producing batteries, wind turbines, solar panels, and other components used to generate, store, and transmit clean energy. For instance, in August 2025, according to Atlantic Renewables, a UK-based solar energy company, the UK solar industry recorded a notable 22% rise in residential solar panel installations during the first half of 2025 compared with the corresponding period in 2024. Therefore, the expansion of renewable energy infrastructure is supporting the growth of the critical minerals market.

Key operating in the critical minerals market are focusing on leveraging innovative technologies such as direct lithium extraction (DLE) technologies to accelerate lithium production and reduce environmental impact. Direct lithium extraction (DLE) technologies are processes that selectively remove lithium from brine or saltwater solutions, helping to rapidly produce high-purity lithium while using less water and land than traditional evaporation methods. For example, in February 2026, Summit Nanotech, a Canada-based clean technology company, launched the RapidValidation DLE Demonstration Plant, an innovative facility designed to de-risk global lithium projects. The plant employs proprietary DLE processes to quickly test lithium recovery efficiency from various brine sources, featuring a compact modular design, rapid operational testing, and a minimal environmental footprint. It allows for accelerated project validation, reduces operational risk, and enhances lithium yield compared with conventional methods. Applications extend across lithium mining and processing projects, particularly for EV battery supply chains.

In March 2025, Rio Tinto Limited, a UK-based mining company, acquired Arcadium Lithium Pty Ltd for $6.7 billion. Through this acquisition, Rio Tinto aimed to reinforce its position in energy transition materials by expanding its lithium production capabilities, establishing a more secure supply of critical battery metals, strengthening its expertise in lithium processing, and preparing to address the increasing global demand for electric vehicle batteries and renewable energy storage applications. Arcadium Lithium Pty Ltd is an Australia-based company specializing in lithium chemicals production and the operation and management of lithium mining and processing facilities.

Major companies operating in the critical minerals market are Glencore International AG, Rio Tinto Group, BHP Group Limited, Vale S.A., Anglo American plc, Freeport-McMoRan Inc., MMC Norilsk Nickel, Albemarle Corporation, Tianqi Lithium Corporation, Ganfeng Lithium Co. Ltd., Pilbara Minerals Limited, NMDC Limited, Livent Corporation, Lynas Rare Earths Limited, MP Materials Corp., Core Lithium Ltd, Sigma Lithium Resources Corporation, Piedmont Lithium Inc., IGO Limited, Arafura Resources Limited, Teck Resources Limited, Graphite One Inc., Lithium Americas Corp.

Asia-Pacific was the largest region in the critical minerals market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the critical minerals market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the critical minerals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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