Defence Critical Minerals Market Size, Share, Trends, And Industry Analysis - Global Forecast To 2036 USD 12.91 Billion Opportunity Driven By Allied Supply Chains, Stockpiling, And Defence Electrification

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Dublin, Oct. 27, 2026 (GLOBE NEWSWIRE) -- "Defence Critical Minerals Market Size, Share, and Industry Analysis - Global Forecast to 2036" has been added to ResearchAndMarkets.com's offering.

The global defence critical minerals market was valued at USD 4.56 billion in 2025 and is estimated to reach USD 7.54 billion in 2026. The market is projected to expand to USD 12.91 billion by 2036, representing a CAGR of 5.5% during the forecast period. Mineral demand is also expected to increase substantially, with defence consumption of tungsten forecast to rise from 17,865 tonnes in 2026 to 34,268 tonnes in 2036.

Market growth is being driven by rising military expenditure, rearmament programmes, expanding munitions production and government efforts to secure strategic materials. Global military expenditure reached USD 2.88 trillion in 2025, while NATO members agreed to target defence and security spending equivalent to 5% of GDP by 2035. These commitments are increasing requirements for tungsten, titanium, nickel, cobalt, antimony, rare earth elements, beryllium, gallium, germanium, tantalum, niobium, lithium and graphite across major defence programmes.

Supply concentration remains a defining market factor. China controls a significant share of global processing capacity for tungsten, rare earths, gallium, germanium and antimony. Export licensing requirements and restrictions introduced between 2023 and 2025 contributed to record prices outside China and intensified procurement concerns. From January 2027, the U.S. will prohibit Chinese-origin rare earth magnets, tungsten and tantalum in defence systems, reinforcing investment in allied and domestic supply chains.

Market dynamics and growth opportunities

Demand is supported by defence production growth across NATO, Asia-Pacific and the Middle East, alongside stockpiling programmes, sourcing regulations and strategic government investment. The expansion of drones, robotics, electrified military systems, advanced sensors and space-based capabilities is creating additional opportunities for battery materials, permanent magnets, specialty alloys and semiconductor inputs.

However, processing capacity outside China remains limited. New separation, refining, alloying and magnet manufacturing facilities require significant capital, extended development periods and defence qualification. Price volatility also complicates fixed-price contracts and project economics. Other constraints include fragmented demand, limited market transparency, environmental approvals and lengthy certification timelines.

Recycling, secondary supply, material substitution and advanced manufacturing processes are expected to strengthen supply resilience. Two-tier pricing for Chinese and non-Chinese materials, increased state participation as both investor and buyer, and growing demand from unmanned and electrified systems will continue to reshape competitive conditions.

Segment outlook

• Mineral: Tungsten is expected to hold the largest market share in 2026 due to its use in penetrators and munitions, combined with elevated prices outside China. Lithium is projected to record the fastest value growth, while rare earth elements are expected to achieve the fastest volume growth.
• Form: Alloys, powders and magnet alloys are forecast to lead the market and grow at the fastest rate. Demand will be supported by tungsten heavy alloy powders, titanium alloy ingot, superalloy master alloys, magnet production outside China and additive manufacturing.
• Application: Armor and penetrators are expected to represent the largest application segment in 2026. Batteries and power storage are projected to grow fastest as deployment increases across drones, unmanned underwater vehicles and soldier systems.
• Defence platform: Missiles and munitions are forecast to account for the largest share, supported by ammunition and interceptor production. Space, C4ISR and electronic warfare are expected to register the fastest growth due to investment in radar, satellites, sensors and electronic warfare capabilities.
• End user: Tier suppliers and component manufacturers are projected to hold the largest share and achieve the fastest growth. Government stockpiling agencies are also becoming more influential after purchases more than doubled between 2024 and 2026.

Regional market outlook

North America is expected to lead the global defence critical minerals market in 2026. The U.S. remains the largest country market, reflecting its defence manufacturing base, purchases at prices outside China and expanding national stockpile programmes. Canada is forecast to grow faster than the U.S. within the region.

Latin America is projected to be the fastest-growing region through 2036, led by Brazil. Russia represents the largest European market, while Poland is expected to record the region's fastest growth. In Asia-Pacific, China holds the largest market position and India is forecast to expand fastest. Israel leads the Middle East & Africa, while Saudi Arabia is expected to become the fastest-growing country market globally.

Competitive landscape

The defence critical minerals market is fragmented, with competition varying by mineral. Plansee led tungsten in 2025, Precision Castparts led titanium and nickel, Materion led beryllium, Umicore led gallium and germanium, Global Advanced Metals led tantalum and niobium, China Northern Rare Earth led rare earths and Glencore led cobalt.

Companies compete through qualified product portfolios, access to feedstock outside China, processing and alloying capabilities, compliance with defence sourcing rules and government partnerships. Strategic activity includes agreements, capacity expansions, public funding, regulatory approvals and product launches. Notable developments include MP Materials' U.S. government partnership, Almonty Industries' start of mining at Sangdong and Lynas' production of heavy rare earths outside China.

Companies profiled include MP Materials Corp., Lynas Rare Earths Ltd., Neo Performance Materials Inc., China Northern Rare Earth (Group) High-Tech Co., Ltd., Plansee Group, Xiamen Tungsten Co., Ltd., Almonty Industries Inc., ATI Inc., Carpenter Technology Corporation, VSMPO-AVISMA Corporation, Toho Titanium Co., Ltd., IperionX Limited, Materion Corporation, Umicore SA, 5N Plus Inc., United States Antimony Corporation, Perpetua Resources Corp., Global Advanced Metals, CBMM and Glencore plc.

Strategic value of the report

The report provides market forecasts by value and mineral volume, supported by analysis across mineral, form, application, defence platform, end user and geography. Coverage spans five regions and 24 countries and sub-regions, addressing supply concentration, policy, regulation, stockpiling, pricing, recycling, substitution, investment, procurement and supply outside China.

These insights support sourcing strategy, partnership and acquisition assessment, investment planning, market entry and procurement decisions. The analysis is relevant to miners, processors, alloy and powder producers, component manufacturers, defence prime contractors, government agencies and investors seeking opportunities in the evolving defence critical minerals supply chain.

Key Topics Covered:
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.3.1. Currency
1.3.2. Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation Process
2.2.1. Secondary Research
2.2.2. Primary Research & Validation
2.2.2.1. Primary Interviews with Industry Experts
2.2.2.2. Country-/Region-Level Analysis
2.3. Market Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
2.3.3. Forecast Methodology
2.4. Data Triangulation
2.5. Assumptions
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.1.1. Rising Defence Spending and Rearmament Programmes
4.2.1.2. Munitions Production Ramp-Up
4.2.1.3. Export Controls and the Security-of-Supply Premium
4.2.1.4. Sourcing Rules for Defence Supply Chains
4.2.1.5. Government Stockpiling and Strategic Investment
4.2.2. Restraints
4.2.2.1. Limited Non-Chinese Processing Capacity
4.2.2.2. Price Volatility and Contracting Risk
4.2.2.3. Small and Fragmented Defence Demand
4.2.3. Opportunities
4.2.3.1. Allied and Domestic Supply Chains
4.2.3.2. Recycling and Secondary Supply
4.2.3.3. Drones, Robotics and Electrified Systems
4.2.3.4. Advanced Materials and Processes
4.2.4. Challenges
4.2.4.1. Qualification and Certification Timelines
4.2.4.2. Transparency and Data Gaps
4.2.4.3. Environmental and Permitting Constraints
4.2.5. Trends
4.3. Mineral Criticality and Supply Concentration
4.4. Defence Supply Chain and Value Chain Analysis
4.4.1. Mining and Concentration
4.4.2. Processing and Refining
4.4.3. Metal, Alloy and Powder Production
4.4.4. Component Manufacturing and Integration
4.5. Policy and Regulatory Landscape
4.5.1. United States
4.5.2. European Union
4.5.3. China
4.5.4. Japan, South Korea, Australia and India
4.6. Stockpiling Programmes
4.7. Pricing Analysis
4.7.1. Tungsten
4.7.2. Antimony
4.7.3. Cobalt, Gallium and Germanium
4.7.4. Rare Earths, Titanium and Nickel
4.8. Recycling and Substitution
4.9. Investment and Funding Landscape
4.10. Market Ecosystem
4.10.1. Miners and Processors
4.10.2. Alloy, Powder and Specialty Material Producers
4.10.3. Component Manufacturers and Prime Contractors
4.10.4. Governments and Financiers
4.11. Defence Demand by Platform and Programme
4.11.1. Combat Aircraft and Engines
4.11.2. Missiles and Munitions
4.11.3. Naval Vessels and Submarines
4.11.4. Armored and Land Systems
4.11.5. Space, C4ISR and Electronic Warfare
4.12. Procurement and Contracting Practices
4.13. Regional Supply and Demand Dynamics
4.14. Materials and Process Innovation
4.15. Defence Demand Outlook by Mineral (Volume)
4.16. Supply Outlook Outside China
4.17. Porter's Five Forces Analysis
4.18. Market Scenarios and Forecast Sensitivity
4.19. Strategic Implications for Stakeholders
4.20. Case Studies
4.20.1. Public-Private Partnership for U.S. Rare Earth Magnets
4.20.2. A New Tungsten Source in South Korea
4.20.3. Rebuilding the U.S. Antimony Stockpile
4.20.4. Heavy Rare Earths Outside China
4.20.5. A Magnet Alloy Issue in a Fighter Programme
5. Defence Critical Minerals Market, by Mineral
5.1. Introduction
5.2. Tungsten
5.3. Titanium
5.4. Nickel
5.5. Antimony
5.6. Cobalt
5.7. Rare Earth Elements
5.8. Beryllium
5.9. Gallium & Germanium
5.10. Tantalum & Niobium
5.11. Lithium
5.12. Graphite
5.13. Other Critical Minerals
6. Defence Critical Minerals Market, by Form
6.1. Introduction
6.2. Refined Metals
6.3. Oxides, Compounds & Other Forms
6.4. Alloys, Powders & Magnet Alloys
7. Defence Critical Minerals Market, by Application
7.1. Introduction
7.2. Permanent Magnets & Motors
7.3. Superalloys & High-Performance Alloys
7.4. Armor & Penetrators
7.5. Electronics, Semiconductors & Optics
7.6. Batteries & Power Storage
7.7. Munitions, Propellants & Energetics
7.8. Other Applications
8. Defence Critical Minerals Market, by Defence Platform
8.1. Introduction
8.2. Combat Aircraft & Engines
8.3. Missiles & Munitions
8.4. Naval Vessels & Submarines
8.5. Armored & Land Systems
8.6. Space, C4ISR & Electronic Warfare
9. Defence Critical Minerals Market, by End User
9.1. Introduction
9.2. Defense Prime Contractors & OEMs
9.3. Tier Suppliers & Component Manufacturers
9.4. Government Stockpiling Agencies
10. Defence Critical Minerals Market, by Geography
10.1. Introduction
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.3. Europe
10.3.1. U.K.
10.3.2. France
10.3.3. Germany
10.3.4. Italy
10.3.5. Poland
10.3.6. Sweden
10.3.7. Turkiye
10.3.8. Russia
10.3.9. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. India
10.4.3. Japan
10.4.4. South Korea
10.4.5. Australia
10.4.6. Taiwan
10.4.7. Rest of Asia-Pacific
10.5. Middle East & Africa
10.5.1. Saudi Arabia
10.5.2. Israel
10.5.3. UAE
10.5.4. Rest of Middle East & Africa
10.6. Latin America
10.6.1. Brazil
10.6.2. Rest of Latin America
11. Competitive Landscape
11.1. Overview
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
11.3.1. Tungsten
11.3.2. Titanium and Superalloys
11.3.3. Rare Earths
11.3.4. Antimony, Gallium, Germanium and Beryllium
11.3.5. Tantalum, Niobium and Cobalt
11.4. Competitive Dashboard
11.4.1. Market Leaders
11.4.2. Market Differentiators
11.4.3. Vanguards
11.4.4. Emerging Players
11.5. Market Share Analysis, by Mineral (2025)
11.5.1. Tungsten
11.5.2. Titanium
11.5.3. Nickel
11.5.4. Beryllium
11.5.5. Gallium & Germanium
11.5.6. Tantalum & Niobium
11.5.7. Rare Earth Elements
11.5.8. Cobalt
12. Company Profiles
Each company profile covers Business Overview, Financial Overview, Product Portfolio, Strategy and Defence Relevance, Strategic Developments and SWOT Analysis.
12.1. MP Materials Corp.
12.2. Lynas Rare Earths Ltd.
12.3. Neo Performance Materials Inc.
12.4. China Northern Rare Earth (Group) High-Tech Co., Ltd.
12.5. Plansee Group
12.6. Xiamen Tungsten Co., Ltd.
12.7. Almonty Industries Inc.
12.8. ATI Inc.
12.9. Carpenter Technology Corporation
12.10. VSMPO-AVISMA Corporation
12.11. Toho Titanium Co., Ltd.
12.12. IperionX Limited
12.13. Materion Corporation
12.14. Umicore SA
12.15. 5N Plus Inc.
12.16. United States Antimony Corporation
12.17. Perpetua Resources Corp.
12.18. Global Advanced Metals
12.19. CBMM
12.20. Glencore plc
13. Appendix
13.1. Customization Options
13.2. Available Related Reports
List of Tables [278]
List of Figures [132]
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