Global Rare Earth Elements Market, By Element (Cerium, Neodymium, Lanthanum, Dysprosium, Terbium, Erbium, Europium, Gadolinium, Holmium, Lutetium, Praseodymium, Promethium, Samarium, Thulium, Ytterbium, Yttrium, Scandium, Others), Application (Catalysts, Ceramics, Phosphors, Glass and Polishing, Metallurgy, Polishing, Additives, Magnets, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Rare Earth Elements Market
The rare earth elements market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to grow at a CAGR of 10.63% in the above-mentioned forecast period.
Rare earth elements (REE) are an essential part of many high-tech devices, they are basically various chemical elements present in the periodic table. Their availability of these elements in a particular location is limited, thus the extraction of these elements from mines quite complicated.
The factors such as requirement of rare earth elements for the implementation and utilization of green technology worldwide and focus of various organizations and companies on enhancing their understanding and technologies for rare earth elements are the root cause fueling up the rare earth elements market growth rate. Additionally, the high demand associated with these elements due to their application as catalysts in various production activities will also directly and positively impact the growth rate of the rare earth elements market. However, concerns regarding the increasing presence of illegal activities for extraction of rare earth elements from the different regions and lack of consistent supply to various end-users and applicable sectors derail growth of the rare earth elements market.
Increased application area of these elements due to the rising demand for electric and hybrid vehicles pose as a major challenge to the growth of the rare earth elements market. Inequality of demand and supply quantities due to the trade wars between suppliers of rare earth elements worldwide pose as challenge for the market’s growth.
This rare earth elements market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on rare earth elements market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Rare Earth Elements Market Scope and Market Size
The rare earth elements market is segmented on the basis of element and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of element, the rare earth elements market is segmented into cerium, neodymium, lanthanum, dysprosium, terbium, erbium, europium, gadolinium, holmium, lutetium, praseodymium, promethium, samarium, thulium, ytterbium, yttrium, scandium and others.
- On the basis of application, the market is segmented into catalysts, ceramics, phosphors, glass and polishing, metallurgy, polishing, additives, magnets and others.
Rare Earth Elements Market Country Level Analysis
The rare earth elements market is segmented on the basis of element and application.
The countries covered in the rare earth elements market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia Pacific is estimated to dominate the rare earth elements market owing to the rising demand from industries, such as consumer electronics and others within the region. North America, on the other hand, will continue to however show lucrative growth within the forecast period owing to the expanding automotive industry in the region.
The country section of the rare earth elements market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Rare Earth Elements Market Share Analysis
The rare earth elements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to rare earth elements market.
The major players covered in the rare earth elements market report are Minmetals Rare Earth Co., Ltd.; Alkane Resources Ltd, ARAFURA RESOURCES, Lynas Corporation Ltd, China Rare Earth Holdings Limited, Avalon Advanced Materials Inc., IREL(INDIA) LIMITED, Greenland Minerals Ltd, NEO, Rare Element Resources Ltd, Frontier Rare Earths Limited, Canada Rare Earth Corporation, Iluka Resources Limited, Northern Minerals, Krakatoa Resources Limited, Ucore Rare Metals Inc.; Namibia Critical Metals Inc., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.