This is my understanding as well; one of the reasons why China has such a high percentage of that market isn't because no one else can, but rather that they don't want to. The environmental damage is often horrendous [1][2] so everyone that can outsources it. I believe there's also been a lot of work on reducing or replacing relience on those materials in quite a few areas, as I believe a parent comment mentioned.

[1] https://e360.yale.edu/features/china-wrestles-with-the-toxic...

[2] https://www.bbc.com/future/article/20150402-the-worst-place-...