Cerium oxide market poised for steady growth amid increasing demand from glass clarifying agent industry-Interview with Taowei Wang-General Manager-Deyang Hongyuan Glass Accessories Co., Ltd.

Deyang Hongyuan Glass Accessories Co., Ltd. specializes in the research, development, and production of rare earth-based functional materials, with a particular focus on glass refining agents. Its products are primarily used in areas requiring high transmittance and purity, such as photovoltaic glass, high-end glassware, electronic glass, and optical glass. With an annual production capacity of 10,000 tons, the company produced approximately 6,500 tons in 2025 and plans to produce the same volume in 2026.
Asian Metal: Welcome to accept Asian Metal's interview, Mr. Wang. Please briefly introduce your main business first.
Mr. Wang: Our company specializes in the research, development, and production of rare earth-based functional materials, with glass refining agents being one of our core business segments. In simple terms, we leverage the unique properties of rare earth elements, primarily high-purity cerium oxide, to provide efficient and environmentally friendly refining solutions for glass manufacturers. Our products are mainly used in areas that demand high transmittance and purity, such as photovoltaic glass, high-end glassware, electronic glass, and optical glass. In recent years, with the rapid growth of the photovoltaic industry and the increasing environmental requirements in the glass sector, our rare earth-based refining agents have gained growing market recognition. Beyond offering standardized products, we focus on customized adjustments based on our customers' specific glass formulations and furnace processes, helping them improve product quality while achieving more stable production.

Asian Metal: What rare earth products are mainly consumed by the glass clarifier industry currently? What roles do they play in glass production?
Mr. Wang: The rare earth products currently used in the glass clarifier industry are primarily high-purity cerium oxide 99.95%min, along with some mixed rare earth oxides (mainly LaCe carbonate). Among these, high purity cerium oxide is the absolute mainstay and also the most technologically advanced product. Regarding their functions, let me explain in two parts: First, high purity cerium oxide mainly serves two purposes: aiding in bubble removal and decolorization. During the high-temperature stage of glass melting, cerium oxide releases oxygen. As these oxygen bubbles rise through the molten glass, they act like "collectors", carrying away residual tiny bubbles, resulting in bubble-free, clearer glass. In the past, many manufacturers used white arsenic or antimony for this purpose, but those substances are toxic and environmentally harmful. Cerium oxide avoids these issues and delivers better performance. Additionally, raw materials for glass often contain iron impurities, which can give the glass a green tint. Cerium oxide neutralizes the iron's color, making the glass appear whiter and more transparent. This is especially important in photovoltaic glass, where higher light transmittance leads to better power generation efficiency. Second, mixed rare earth oxides play a supporting role. In some mid-to-low end or specially formulated glasses, mixed rare earths are used. Their advantage lies in reducing the viscosity of the molten glass, improving its fluidity, which makes it easier for bubbles to escape. Moreover, they also help enhance the glass's acid and alkali resistance as well as its mechanical strength. Overall, the industry trend is moving toward high purity, functionalized products. With increasingly stringent environmental regulations and rising demands for light transmittance in fields such as photovoltaics and high end electronic glass, the demand for high purity cerium oxide in glass clarifiers has been steadily growing in recent years.
Asian Metal: What is the approximate annual consumption of rare earth products by China's glass clarifier industry? How about the current annual consumption of cerium oxide 99.9%min in China's glass clarifier industry?
Mr. Wang: That's a good question. To be honest, there is currently no highly precise official statistic available for the industry, because glass clarifiers are just a niche application of rare earths, and much of the relevant data is included under broader categories such as "glass additives" or "rare earth polishing powders". However, based on our understanding of the industry, we can provide a rough estimate. Looking at the consumption level of individual companies, we've observed that a medium sized glass enterprise purchases around 876 tons of high clarity glass clarifiers per furnace per year. In such clarifiers, the cerium oxide content is typically around 3.5% (though this varies with different formulations). Based on this, one furnace consumes approximately 30 tons of rare earth products (calculated as cerium oxide) per year. Considering how many furnaces there are in China's glass industry, across both large and small plants, the total base is quite substantial. According to general industry consensus, the current annual consumption of rare earth products (mainly high purity cerium oxide) by China's glass clarifier industry is roughly on the order of several thousand tons. The exact figure tends to fluctuate with the market conditions of downstream sectors such as photovoltaic glass and high end tableware glass. In the past couple of years, the booming photovoltaic industry has driven increased demand for cerium oxide used in glass clarifiers.
According to industry data and our understanding, the current annual consumption of cerium oxide 99.9%min in China's glass clarifier industry is approximately 15,000 tons. How is this figure derived? The general industry estimate is that China's annual production of glass clarifiers is around 150,000 tons. The addition ratio of cerium oxide in clarifiers ranges from 3.5% to 10%, depending on the formulation. Taking a median value for calculation, the corresponding cerium oxide consumption for 150,000 tons of clarifiers is at the level of 15,000 tons.

Asian Metal: Cerium oxide 99.9%min prices showed uptrend in general since 2025. The current Chinese cerium oxide 99.9%min mainstream prices stand firm at RMB15,100-15,300/mt (USD2,206.35-2,250.48/mt) EXW D/P, an increase of 100% from January 2025. What do you see as the main reason of the climbing prices over the past year?
Mr. Wang: In recent years, the growth rate of China's rare earth mining and smelting separation quotas has been slowing down significantly. In 2024, the mining quota increased by less than 6% compared to 2023, while the average annual growth rate in previous years was above 20%. What does this indicate? It shows that the country is now pursuing a path of 'total volume control and demand-driven supply, you can't simply mine as much as you want. In addition, overseas supply has also become unstable. Myanmar has completely suspended mining since the end of 2025, and MP Materials in the U.S. faces smelting bottlenecks and has stopped supplying concentrates to China. Taken together, the global rare earth supply is generally tight. On the supply side, domestic quota growth has slowed and overseas supply is disrupted; on the demand side, traditional sectors such as polishing powders and catalysts remain steady, coupled with the spillover effect from the overall rare earth market heat. These forces have converged to drive prices up. Moreover, looking at the current situation, supply-side constraints are unlikely to ease in the short term, while downstream demand, especially in new energy, semiconductors, and other fields continues to grow. Therefore, the price can remain firm at the level of 14,000 per ton, supported by solid fundamentals.
Asian Metal: How has the sharp rise in raw material prices affected the price of glass clarifier products made of cerium oxide 99.9%min?
Mr. Wang: The addition ratio of cerium oxide in glass clarifiers varies depending on the formulation, generally ranging from 3.5% to 10%. Taking roughly 5% as a baseline, for every RMB1,000 increase in cerium oxide price, the cost of the clarifier would increase by about RMB50 per ton. Given that cerium oxide has risen by over RMB7,000 this time, the theoretical cost increase for clarifiers would be over RMB300 per ton. However, in reality, clarifier manufacturers cannot fully pass on this entire cost increase, because downstream glass manufacturers are also facing cost pressures, pushing too hard would make it unsustainable for them. Therefore, the actual price increase will be smaller than the theoretical value. The rise in cerium oxide price definitely has an impact on clarifier prices, but this impact is not a simple linear relationship where 'raw material price increases by X, so finished product price increases by Y.' Instead, it goes through a process of 'negotiation and balancing', with upstream raw material suppliers, clarifier manufacturers, and downstream glass producers each bearing a portion of the burden. From our observations, over the past year or so, the prices of mid-to-high-end glass clarifier products have indeed increased, but the magnitude has been significantly lower than the rise in raw material costs, with the majority of the difference being absorbed by the clarifier manufacturers themselves.

Asian Metal: Please share your prediction of the demand outlook of cerium oxide 99.9%min in the glass clarifier industry in the next two years.
Mr. Wang: We expect the demand for cerium oxide 99.9%min from the glass clarifier industry to be stable with a moderate upward trend in the coming two years. Photovoltaic glass serves as the foundation, while electronic glass and high end tableware glass represent the growth areas, and environmental substitution will continue to contribute. Although there may be some short-term fluctuations, in the long run, as the glass industry moves toward 'high-end and green' development, cerium oxide's market position as a clarifier material that offers both environmental and performance advantages will remain relatively solid.
Asian Metal: What are the core advantages of rare earth-based clarifiers compared to traditional clarifiers (such as white arsenic and antimony-based clarifiers)?
Mr. Wang: First, environmental safety is the most critical factor. The main component of white arsenic is arsenic trioxide, which is highly toxic and poses safety hazards during production, storage, and use. Moreover, the high-temperature volatilization in glass furnaces is harmful to the environment and workers' health. With increasingly stringent national environmental regulations, many regions have explicitly restricted or directly banned the use of arsenic-containing clarifiers. Antimony-based clarifiers are less toxic than arsenic but are still heavy metals and face environmental pressures. Rare earth-based clarifiers are completely different. Cerium oxide itself is non-toxic, harmless, and non-polluting, providing peace of mind during use. Glass manufacturers that export products, especially to regions with high environmental standards like Europe, the US, and Japan, are basically required by their customers to use rare earth clarifiers. So this is not just an environmental issue, it's a market access issue.
Second, they offer better clarification performance while also providing decolorization. From a technical performance standpoint, the advantages of rare earth-based clarifiers are also significant. White arsenic and antimony-based clarifiers mainly rely on high-temperature volatilization to generate bubbles for degassing, but if the process is not well controlled, residues can remain. Cerium oxide is a variable-valence oxide that releases oxygen at high temperatures. As these oxygen bubbles rise through the molten glass, they carry out even the tiny residual bubbles, resulting in more thorough clarification. Additionally, cerium oxide has a unique feature, it can decolorize glass. Iron impurities are inevitably present in glass raw materials, causing a green tint. Cerium oxide neutralizes the iron's color, making the glass appear whiter and brighter. This is particularly important for products with high transmittance requirements, such as photovoltaic glass and high-end tableware glass. White arsenic and antimony-based clarifiers lack this function, requiring an additional decolorizing agent.
Third, the overall cost-performance is actually higher. Some might say rare earth-based clarifiers are more expensive, but that's not the full picture. Using white arsenic or antimony-based clarifiers may result in glass with a green tint, requiring added decolorizers, and the bubble rate may be higher, affecting the yield rate. With rare earth-based clarifiers, one process solves both clarification and decolorization, while also improving transmittance and yield rate. Overall, the benefit to glass manufacturers is positive. Especially in the photovoltaic glass industry today, everyone is competing on conversion efficiency. Even a 0.5% improvement in transmittance can have a significant impact on the revenue of an entire power station. Compared to that, the extra cost spent on clarifiers is negligible.

Asian Metal: What's your prediction of the prospects for the consumption of rare earth products in the glass clarifier industry?
Mr. Wang: In my view, the application of rare earth products in the glass clarifier industry is far from reaching its ceiling. In the coming years, as environmental policies continue to tighten and the glass industry continues to upgrade, the market penetration of rare earth clarifiers will keep increasing. It is no longer just a 'substitute' for traditional clarifiers, but is becoming an increasingly indispensable part of high-end glass manufacturing. We are optimistic about this direction in the long term and will continue to cultivate it deeply.
Asian Metal: What are the main challenges rare earth clarifier industry facing now?
Mr. Wang: First, raw material cost volatility is a major issue. Rare earth prices are heavily influenced by policies and production quotas. When prices rise, it is difficult to pass the increase downstream because glass manufacturers are price-sensitive, and often clarifier producers have to absorb part of the cost themselves. Second, there is still low-price competition. Some small players in the market engage in price wars, using low-grade products to compete, which lowers customer expectations regarding overall quality. Third, technical barriers are becoming higher. Downstream industries such as photovoltaics and electronic glass are imposing increasingly strict requirements for transmittance and purity, so clarifiers must keep pace with upgrades. Having rare earths alone is not enough, formulation and process expertise are also required. Fourth, policy uncertainty exists. Variables such as rare earth mining quotas and environmental standards can affect the stability of raw material supply. Overall, the industry has promising prospects, but to move forward steadily, we need to do three things well: cost control, quality stability, and technology iteration.
Asian Metal: Thank you for your wonderful insights! Wishing your company continued growth and prosperity!
Mr. Wang: Thank you. Wishing Asian Metal continued success and ever greater growth!