Wind Power's Rare-Earth Paradox: A Global Turbine Boom Riding on a Chinese Magnet Choke Point

Highlights

• Global installed wind capacity reached 1,299 GW at end of 2025, with China alone adding 120.5 GW in a single year
• China controls roughly 90% of rare-earth permanent magnet production, creating a critical choke point for wind turbine generators worldwide
• European dysprosium and terbium prices are already five times Chinese domestic prices following Beijing's 2025 export controls on heavy rare earths
• The IEA estimates $60 billion is needed over the next decade to diversify the magnet rare-earth supply chain away from China
• Siemens Gamesa, MP Materials, and Vestas are among companies actively pursuing supply chain localization strategies for NdFeB magnets