Press release
Rare-Earth Metals Market is expected to experience significant growth, reaching nearly USD 12.02 Billion by 2029, with a CAGR of 12.4% during the forecast period
Rare-Earth Metals Market
The Rare-Earth Metals Market is being driven by the increasing demand for these materials in the fabrication of magnets and catalysts, particularly in the automobile industry. Cerium, neodymium, and praseodymium are extensively used in automobile catalytic converters and electric vehicle batteries, respectively. The growing global stock of electric automobiles, which surpassed 5 million in 2018 according to the International Energy Agency, is fueling the demand for rare-earth metals. Additionally, the rising need for permanent magnets in battery production to meet the growing demand for electric vehicles and reduce CO2 emissions is further propelling the market.
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What are Rare-Earth Metals Market Dynamics?
• Rising demand from end-user industries: Rare earth elements such as neodymium, praseodymium, dysprosium, terbium, and yttrium are crucial for the production of permanent magnets. These magnets find applications in various industries, including automotive, power generation, aerospace, medical, and defense. The increasing demand for electric vehicles and wind turbines is expected to drive the growth of rare earth permanent magnets by 12% to 14% in the next five to ten years.
• New recycling and reuse opportunities: Rare-earth metals have become essential in key industries like green technology and national defense. However, the recovery rate of rare earth metals through recycling is currently less than 5%. Enhancing the recycling and reuse of these metals presents a significant opportunity to reduce criticality and provide a secondary supply, thereby positively impacting the environment by reducing mining.
• Fluctuating costs: Raw material prices for rare-earth metals fluctuate, impacting manufacturers who either absorb additional costs or increase product prices. This dual supply chain, dependent on end-user industries, further complicates the pricing dynamics and introduces the risk of disrupting the supply chain when switching to alternative raw material sources.
What are Rare-Earth Metals Market regional insights:
• North America: North America held the largest market share in 2021, driven by the region's thriving automobile industry and increasing adoption of electric vehicles. The demand for rare earth elements is expected to further rise due to the growth of the consumer electronics and nuclear power sectors.
• Europe: Europe is the second-largest market for rare-earth metals, with the automotive industry being the largest end-user. The region's increasing applications in magnets, metallurgy, catalysts, glass, and ceramics are anticipated to drive the demand for rare earth elements.
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What is Rare-Earth Metals Market Segmentation?
by Product
• Cerium
•Dysprosium
• Erbium
• Gadolinium
• Holmium
• Lanthanum
• Lutetium
• Neodymium
• Praseodymium
• Promethium
• Samarium
• Scandium
• Terbium
• Thulium
• Ytterbium
• Yttrium
by Application
• Magnets
• Catalysts
• Metallurgy
• Polishing
• Glass
• Phosphors
• Ceramics
• Other
by Type
• Cerium Oxide
• Lanthanum Oxide
• Neodymium Oxide
• Yttrium Oxide
• Others
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Who are Rare-Earth Metals Market Key Players?
• Lynas Corporation
• Alkane Resources
• Arafura Resources
• China Minmetals Rare
• Avalon Advanced Materials
• Iluka Resource
• Canada Rare Earth
• Shin-Etsu Chemical Co. Ltd.
• China Northern Rare Earth
• Rare Element Resources
• Eutectix
• Indian Rare Earths
• Frontier Rare Earths.
• Greenland Minerals & Energy
• Ucore Rare Metals Inc.
• Medallion Resources Ltd
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Table of content for the Rare-Earth Metals Market includes:
1. Global Rare-Earth Metals Market: Research Methodology
2. Global Rare-Earth Metals Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Rare-Earth Metals Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Rare-Earth Metals Market Segmentation
• Global Market, by Product (2021-2029)
• Global Market, by Application (2021-2029)
• Global Market, by Type (2021-2029)
5. Regional Rare-Earth Metals Market (2021-2029)
• Regional Market, by Product (2021-2029)
• Regional Market, by Application (2021-2029)
• Regional Market, by Type (2021-2029)
• Regional Market, by Country (2021-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
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Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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