Rare Earth Metals Market | Lynas Corporation Ltd., Avalon Advanced Materials Inc., Greenland Minerals Ltd.

Rare earth metals (REM) are the group of seventeen metallic elements that have distinctive luminescent, magnetic, and chemical properties, which makes it significant in varied high-technology industries, especially in low-carbon technologies. According to the International Union of Pure and Applied Chemistry (IUPAC), the REM or rare earth elements (REE) consists of Cerium (Ce), Dysprosium (Dy), Erbium (Er), Holmium (Ho), Lanthanum (La), Lutetium (Lu), Neodymium (Nd), Praseodymium (Pr), Promethium (Pm), Samarium (Sm), Scandium (Sc), Terbium (Tb), Thulium (Th), Ytterbium (Yb), and Yttrium (Y).

Rare earth elements (REE) are used in applications such as glasses & polishing, metallurgical alloys, magnets, catalysts, magnets, ceramics, phosphors, and others. Growing sales of the automotive industry are expected to boost demand for rare earth metals from 2018 to 2025. Moreover, rare earth metals are used for chemical processing such as petroleum refinement as an industrial catalyst.

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Market Taxonomy

On the basis of metal, the global rare earth metals market is segmented into:

Cerium
Dysprosium
Erbium
Gadolinium
Holmium
Lanthanum
Lutetium
Neodymium
Praseodymium

On the basis of application, the global rare earth metals market is segmented into:

Magnets
Catalysts
Alloys
Glass & Electronics
Others (Ceramics, Phosphors, and Additives)

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Key players in the market are focused on adopting partnership and collaboration strategies to enhance their market share. For instance, in January 2018, Lynas Corporation Ltd. signed an agreement with Robert Bosch GmbH, a leading global supplier of technology and services to secure Robert Bosch GmbH’s Rare Earth needs for magnets used in its business.

In June 2019, Avalon Advanced Materials Inc. entered into a definitive agreement with Cheetah Resources Pty Ltd. to collaborate in the development of the rare earth resources on its mining leases collectively comprising the Nechalacho Project at Thor Lake near Yellowknife, Northwest Territories, Canada.

Increasing research and development activities related to rare earth metals is expected to boost the market growth. For instance, in May 2018, researchers from Kuwait University developed lanthanide-doped ceria nanoparticles as silicon solar cell back-side coaters, showing their influence on the solar cell efficiency.

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