November 2, 2020

Rare Earth Metals Market Projected to Witness Vigorous Expansion by 2020 to 2027

The market report aims to provide an overview of the industry through detailed market segmentation. The report provides thorough information regarding the overview and scope of the market, along with the market drivers, restrains, and key trends. It covers both the quantitative and qualitative aspects of the industry in each region and country participating in the study.

Key Drivers of the Rare Earth Metals Market:

The significant factors contributing to the growth of the global rare earth metals market include rising demand from developing countries, the dependency of ‘Green Technology’ on unique earth elements and increasing adoption of rare earth metal across verticals such as in magnet. Moreover, due to technological advancement, rare earth metals are largely adopted in consumer goods & electronics such as readers, cell smartphones, computers, and cameras. For example, Neodymium is used in hard drives, smartphones, televisions, and rechargeable batteries. The increasing government initiative to decrease carbon emission upsurges the demand for electric cars, further projected to boost the growth of rare earth metals market.

Rare earth metals such as Neodymium and praseodymium based rare earth permanent magnets are used to manufacture batteries. In addition to this, growing demand for rare earth metals to improve performance with decreased weight, lower emission, along with energy consumption with higher efficiency, speed, performance, thermal stability, and durability, will propel the market growth. On the other hand, inconsistent availability of rare earth metals is hindering the growth of the market.

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This report splits the rare earth metals market as follows:

By Type:

  • Lanthanum
  • Cerium
  • Praseodymium
  • Neodymium
  • Samarium
  • Europium
  • Gadolinium
  • Terbium
  • Dysprosium
  • Yttrium
  • Others

By Application:

  • Permanent Magnets
  • Catalysts
  • Glass Polishing
  • Phosphors
  • Ceramics
  • Metal Alloy
  • Glass Additives
  • Others

By Region:

  • North America
    • United States of America
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

Competitive Landscape:

The rare earth metals market report also scans the competitive landscape and profiles the major players operating in the market, including Avalon Advanced Materials Inc., Alkane Resources Ltd., Great Western Minerals Group, Arafura Resources Ltd., China Rare Earth Holdings, Chinalco Yunnan Copper Resources Ltd., Lynas Corporation Ltd., Indian Rare Earths Limited, Inner Mongolia Baotou Steel Rare Earth Hi-Tech Corporation, and Quest Rare Minerals Limited, among others.

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