In recent years, China’s dominant role in the rare earth market and the associated impacts have strengthened the interest in the recovery of rare earth elements (REE) from secondary resources. Therefore, numerous research activities have been initiated aiming at the recovery of REEs from different types of waste streams, which includes, inter alia, neodymium-iron-boron (NdFeB) magnets. Although several research projects have successfully been completed, most experts do not expect an industrial implementation in Europe within the next years. This article analyses the reasons for this situation, addressing the availability of sufficient amounts of NdFeB wastes, the technology readiness level of the developed processes in Europe, as well as the economic aspects. Based on these analyses, an estimation of a realistic timeframe for the industrial implementation of NdFeB recycling in Europe is deduced and critically discussed.