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研判2025!中国氧化铽行业产业链、价格及进出口分析:出口管制与资源战略双轮驱动,中国氧化铽市场成全球市场风向标[图]
Chan Ye Xin Xi Wang·2025-08-08 01:29

Core Viewpoint - China, as the world's richest country in rare earth resources, is leading in the terbium oxide industry in terms of resource reserves, production capacity, and technological development. The country is reshaping the global rare earth supply chain through policy regulation and market mechanisms, with terbium oxide being a key strategic resource whose price fluctuations are critical indicators of international geopolitical and industrial trends [1][8][17]. Industry Overview - Terbium oxide (Tb₂O₃) is a black-brown powder with unique optical and magnetic properties, relatively stable chemical characteristics, and is insoluble in water but soluble in acid [2]. - China's rare earth reserves are approximately 44 million tons, accounting for nearly half of the global proven reserves, with production reaching 270,000 tons in 2024, a year-on-year increase of 12.50% [6][8]. Industry Chain - The upstream of the terbium oxide industry includes rare earth mineral resources and various production equipment. The midstream involves the manufacturing of terbium oxide, while the downstream applications include fluorescent materials, magneto-optical materials, catalysts, electronic ceramics, and new energy materials [4]. Current Industry Status - In April 2025, China implemented export controls on seven types of medium and heavy rare earths, causing international market panic and leading to a spike in European terbium oxide prices to $3,000 per kilogram (approximately 2.181 million RMB per ton). By June 2025, the domestic price of terbium oxide reached 7.09 million RMB per ton, a year-on-year increase of 31.30% [1][10][12]. Key Enterprises' Performance - The Chinese terbium oxide industry is characterized by a competitive landscape dominated by state-owned enterprises, with significant advantages in production and market position. For instance, China Northern Rare Earth Group has a net profit increase of 727.3% in Q1 2025, while China Rare Earth Group has a production volume of 7,785.27 tons in 2024, a year-on-year increase of 107.27% [12][15]. Industry Development Trends 1. Policy Regulation and Export Control: The export control policy is expected to be a long-term strategic tool, significantly altering the global rare earth supply-demand structure. The average approval cycle for export licenses has been shortened by 30% [17]. 2. Technological Innovation: The industry is focusing on green transformation and high value-added production, with companies like Northern Rare Earth investing in zero wastewater discharge systems and achieving a 30% reduction in energy consumption per unit of output [19]. 3. Market Demand Evolution: The demand for terbium and dysprosium is expected to grow significantly due to high-end markets like robotics and new energy vehicles, although there are potential risks from alternative materials and geopolitical tensions [20].