Press release
Rare Earth Metals Market to record robust growth rate in coming 10 years | Lynas Corporation, Alkane Resources ltd, Iluka Resource Ltd
Rare Earth Metals Market
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Rare earth metals are a set of seventeen chemical elements in the periodic table, specifically the fifteen lanthanides plus scandium and yttrium. Scandium and yttrium are considered rare earth elements because they tend to occur in the same ore deposits as the lanthanides and exhibit similar chemical properties. Rare earth metals are used in a variety of applications, including:
Key Trends
The key trends in Rare Earth Metals technology are the increasing demand for these metals and the development of new extraction and production methods.
Rare earth metals are a group of 17 chemical elements in the periodic table, including scandium and yttrium, which are used in a variety of high-tech applications. They are critical components in many of the world's most popular consumer electronics, including smartphones, laptops, and flat-screen TVs. They are also used in a variety of other industries, such as automotive, defense, and renewable energy.
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Key Drivers
The key drivers of the rare earth metals market are the increasing use of rare earth metals in various industries such as automotive, electronics, and energy, and the growing demand for these metals from China.
These metals are used in a variety of applications in the automotive industry, such as in catalytic converters, electric motors, and batteries. The electronics industry is the second largest consumer of rare earth metals, accounting for around 20% of total demand. These metals are used in a variety of applications in the electronics industry, such as in flat-panel displays, computer hard drives, and magnets.
Market Segments
The rare earth metals market bifurcated on the basis of metal, application, and region. On the basis of metal, it is segmented into yttrium, dysprosium, terbium, and others. By application, it is analyzed across catalysts, phosphors, ceramics, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Players
The rare earth metals market report includes players such as Lynas Corporation, Alkane Resources, Iluka Resource Ltd., Avalon Advanced Materials, Inc., Arafura Resources Ltd., Beijing Zhongke Sanhuan, Eutectix, LLC, Greenland Minerals Ltd., Ucore Rare Metals Inc., and Neo Materials.
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