Rare Earth Metals Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025– The technological development in various industries such as automobile and electronic is driving the demand for Rare Earth Metals market.
Rare Earth Metals Market was valued at USD 8063.7 Million in 2018 and is projected to reach around USD 13334.5 Million by 2025, at a CAGR of 7.45% during the forecast period.
Rare Earth Metals are a series of metals found in the earth crust and are useful in various modern technologies, like consumer electronics, computers, network, communication, clean energy, health care, national defense and others. There are 17 elements those are considered as Rare Earth Metals owing to their some unique properties like magnetic, luminescent, and electrochemical properties. These elements help to enchase the technologies performance with reduced weight, reduced emission and energy consumption or provide them greater efficiency, performance, miniaturization, speed, durability and thermal stability.
Global Rare Earth Metals market report is segmented on the basis of type, application and region. Based upon type, Rare Earth Metals market is classified into lanthanum, praseodymium, cerium, neodymium, samarium, promethium, europium, dysprosium, holmium, gadolinium, terbium, thulium, scandium, yttrium, erbium, ytterbium and lutetium. on the basis of application, Rare Earth Metals market is classified into magnets, catalyst, metallurgy, ceramics, phosphors, glass and polishing.
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The regions covered in this Rare Earth Metals Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Rare Earth Metals is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Rare Earth Metals Market Reports–
Some major key players for global Rare Earth Metals market are Molycorp and Inner Mongolia Baotou Steel Rare Earth Hi-Tech Co., Lynas Corporation Limited, China Rare Earth Holdings, Great Western Mineral Group, and Indian Rare Earths Ltd., China Minmetals Corporation, Eutectix, Shin-Etsu Chemical Company, Xiamen Tungsten Co. Ltd, and Alkane Resources Ltd, China Northern Rare Earth, and others.
Global Rare Earth Metals Market Dynamics –
Global Rare Earth Metals market is witnessing a significant growth due to their beneficial properties such as electronic, optical, and magnetic characteristics. Rare Earth Metals are used in a wide range of industries. In addition, rapid industrial development coupled with growing manufacturing and automotive industries are also supplementing the market growth. For instance; China leads the market in term of manufacturing output with around 2.01 USD trillion in output and followed by United States with around 1.867 USD trillion. The manufacturing industry is growing rapidly which likely anticipated to increase the demand for the Rare Earth Metals. Furthermore, material shortage and depleting reserves are the some major factor may restrain the market growth. The use of the Rare Earth Metals is rapidly increasing and now the more than 95% of Rare Earth Metals are produced only by China. Moreover, increasing research and development activities in various fields in terms of using more rare metal in industries such as modern technologies, like consumer electronics, computers, network, communication, clean energy, health care, national defense and others can provide the opportunities for the further growth of the rare earth market.
Asia Pacific Dominates the Global Rare Earth Metals Market.
Asia pacific region is the leading market for Rare Earth Metals due to the ready availability in countries such as China, Japan, and Australia. For instance; around 97% of Rare Earth Metals are produced in china. In addition, the growing automobile sector in this region drives the market growth. For instance; India is the 3rd largest market of automobile industries in 2016 and it is growing fast by 2020, North America region is also expeceted to show the significant growth in Rare Earth Metals market owing to growing technological development and increasing use of electronic products.
Key Benefits for Global Rare Earth Metals Market Reports –
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
Rare Earth Metals Market Segmentation:–
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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