The ultra-rare element powering medical fiber lasers, portable X-ray systems, and radiation sources is facing critical supply constraints. Toto Finance is building the infrastructure to tokenize thulium — from 1:1 redeemable refined oxide to In-Ground future delivery contracts — with instant stablecoin settlement and DeFi secondary markets.
Thulium Oxide (Tm₂O₃) / 99.9% Oxide Price
Global Rare Earth Market
$1,650,000/mt
↑ +94% YTD
Market Size
$28M+
Global
2025 Deficit
1.8 t
Tonnes
2026 Forecast
$1,850,000/mt
Per Metric Tonne
Settlement
T+0
Instant
The Thulium Crisis
The world is running out of thulium. Medical laser manufacturers, portable X-ray developers, and industrial radiation system producers are creating unprecedented demand while global supply remains virtually non-existent. This is not a cycle. It is a medical technology materials emergency.
1.8 t
Roskill forecasts a 1.8-tonne thulium deficit in 2025, with the gap widening through 2030. Global thulium production is only 4.2 tonnes annually — barely enough to supply two major medical laser manufacturers. Thulium is the second-rarest stable rare earth element, making supply fundamentally constrained.
2.0 μm
Thulium fiber lasers emitting at 1.94–2.0 micrometers provide the ideal wavelength for soft tissue surgery with superior hemostasis and minimal thermal damage. 85% of global thulium demand comes from medical laser applications including urology, dermatology, and minimally invasive surgery where thulium's wavelength offers advantages over holmium lasers.
8.5 t
Global thulium demand is projected to reach 21 tonnes per year by 2030, while supply from existing and planned rare earth mines will deliver only 12.5 tonnes. The 8.5-tonne gap represents a 40% shortfall, according to Critical Minerals Institute projections.
Medical Lasers & Radiation Technology
Every thulium fiber laser surgery, every portable X-ray scan, every radiation source requires thulium. The element's unique optical and nuclear properties make it irreplaceable for advanced medical lasers, portable diagnostic imaging, and industrial radiation applications.
Thulium fiber lasers are revolutionizing urology, offering superior stone fragmentation, prostate enucleation, and bladder tumor resection compared to holmium lasers. With 450,000 thulium laser procedures performed annually and each laser system containing 30–80 grams of thulium-doped fiber, medical lasers consume 3.5 tonnes annually, growing at 32% CAGR.
Thulium-170 isotopes enable compact, portable X-ray devices for field hospitals, emergency response, and remote medical facilities. Each portable X-ray unit requires 5–15 grams of thulium-170. The portable medical imaging sector consumes 0.4 tonnes annually, with demand accelerating at 28% CAGR as point-of-care diagnostics expand globally.
Thulium-170 sources power industrial radiography for non-destructive testing of welds, castings, and structures in aerospace, oil & gas, and construction. The industrial NDT sector consumes 0.2 tonnes annually, with demand growing as infrastructure inspection requirements intensify.
Thulium-barium-copper-oxide (TBCO) compounds enable superconducting materials operating above liquid nitrogen temperatures. Quantum computing and MRI applications consume 0.1 tonnes annually, with demand projected to reach 1.5 tonnes by 2030 as quantum hardware commercializes.
2025
6.0 t
Current
2028
12.5 t
Projected
2030
21.0 t
Roskill
2035
38.0 t
Roskill
Supply '30
~12.5 t
Gap: 8.5+
Sources: Roskill, Critical Minerals Intelligence, USGS, American Urological Association.
Resources
Toto Finance works directly with rare earth mining companies and heavy rare earth separation facilities, securing thulium assets at the producer and refinery level. No middlemen. No intermediary traders. Direct from source.
China produces 91% of global thulium from ionic clay deposits in southern provinces, particularly Jiangxi, Guangdong, and Fujian. Chinese heavy rare earth separation facilities produce high-purity thulium oxide for medical laser and radioisotope applications, though export restrictions are tightening supply.
United States and Canadian rare earth operations developing heavy rare earth separation capabilities, including specialized extraction for thulium. Critical mineral designation has prioritized domestic thulium supply for medical device and defense radiation source applications.
Australia's heavy rare earth deposits in Northern Territory and Western Australia contain thulium concentrations. Advanced separation technologies enable economic thulium recovery from xenotime and ionic clay sources for medical applications.
Vietnam's ionic clay deposits contain significant thulium concentrations. Emerging Southeast Asian heavy rare earth processing facilities are developing specialized thulium extraction capabilities for medical laser supply chains.
Greenland's Kvanefjeld project and Scandinavian heavy rare earth deposits contain thulium. Strategic importance for European medical device and scientific research supply chains.
New heavy rare earth fields in preparation and exploration phases across Africa, South America, and Central Asia, offering In-Ground Thulium positions at pre-production economics before reserves reach market.
Secured at source. Toto Finance eliminates commodity brokers and trading intermediaries by working directly with rare earth mining companies and heavy rare earth separation facilities. Better pricing, verified provenance, and a transparent chain of custody from mine to token.
Platform
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The world needs 21 tonnes of thulium by 2030. Supply will fall short by over 8.5 tonnes. Toto Finance is building the platform to tokenize thulium — from 1:1 redeemable refined oxide to In-Ground future delivery — with instant stablecoin settlement and DeFi secondary markets.
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