The manufacturing method and functions of the RE polishing powder and comparation of the current situation of its production and application home and abroad were introduced.By analyzing the development of the liquid crystal (plate) display, the wide application of the RE polishing powder in the field of the liquid crystal display and predicts the development direction of the market of the RE polishing powder was presented.In addition, the development trends of the RE polishing powder industry and forecasts the application prospect of the RE polishing powder was analyzed.