Dysprosium is a rare earth element with a number of important industrial applications, particularly in the field of renewable energy technology. Dysprosium is highly valued for its ability to significantly improve the performance of neodymium magnets, which are used in many critical clean energy technologies, including wind turbines, electric vehicles, and other advanced technologies. Although dysprosium is relatively abundant in the Earth’s crust, it is difficult to extract and refine, making it one of the more expensive rare earth elements.