Global Rare Earth Metal 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 & Polishing, Metallurgy, 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 : Global Rare Earth Metal Market
The rare earth metal market is expected to witness market growth at a rate of 11.15% in the forecast period of 2021 to 2028. Data Bridge Market Research report on rare earth metal market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in consumption of the metal globally is escalating the growth of rare earth metal market.
Rare earth metal refer to the type of element that is utilized in telescope lenses, studio lighting, loudspeakers, and computer hard drives for allowing them to be smaller and more efficient. These are widely used in displays and screens because they are capable of producing different colors. Rare earth elements are known to possess high electrical conductivity and occur together in minerals. These metals are considered strongest magnets available today.
The rise in demand for clean energy across the globe acts as one of the major factors driving the growth of rare earth metal market. The increase in the demand for these products in the manufacturing of magnets and catalysts for the automotive industry, and high usage in the production of batteries for electric vehicles owning to the rising need to reduce CO2 emissions accelerate the market growth. The use of the rare earth metal in fluorescent lighting, smartphones, and other cellphones, and catalytic converters utilized by rechargeable batteries and automotive exhaust systems further influence the market. Additionally, research and development activities, expansion of end use industries, urbanization and industrialization, and focus of various organizations and companies on enhancing the technology positively affect the rare earth metal market. Furthermore, recycling and reuse of rare-earth metals extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, concerns regarding the increasing presence of illegal activities for extraction of rare earth elements from various regions are expected to obstruct the market growth. Lack of consistent supply to various end-users and applicable sectors is projected to challenge the rare earth metal market in the forecast period of 2021-2028.
This rare earth metal 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 metal market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Rare Earth Metal Market Scope and Market Size
The rare earth metal market is segmented on the basis of elements 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 markets.
- On the basis of element, the rare earth metal market is segmented into cerium, neodymium, lanthanum, dysprosium, terbium, erbium, europium, gadolinium, holmium, lutetium, praseodymium, promethium, samarium, thulium, ytterbium, yttrium, scandium and others. Cerium are further segmented into oxide, sulfide, and others. Lanthanum is further segmented into alloy, oxide, and others. Scandium is further segmented into alloy, oxide, fluoride, chloride, nitrate, iodide, carbonate, and others.
- On the basis of application, the rare earth metal market is segmented into catalysts, ceramics, phosphors, glass & polishing, metallurgy, magnets and others.
Global Rare Earth Metal Market Country Level Analysis
The rare earth metal market is analyzed and market size, volume information is provided by country, element and application as referenced above.
The countries covered in the global rare earth metal market report are the 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.
North America dominates the rare earth metal market due to the expansion of automotive industry and rise in consumer electronics and nuclear energy industries within the region. Asia-Pacific is expected to be the fastest growing market during the forecast period of 2021 to 2028 because of the increase in application of rare earth in magnets for manufacturing batteries in the electric vehicles and polishing of television glass in the region.
The country section of the 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 Metal Market Share Analysis
The rare earth metal 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 metal market.
The major players covered in the rare earth metal 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.
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