Press release
Elements Market size was valued at USD 3234 Mn. in 2022 and expected to grow at 6.9% by 2029, reaching nearly USD 5159.23 Mn. by 2029
Elements Market
Maximize Market Research's Elements Market report delves into the realm of seventeen essential elements found on the periodic table, including fifteen lanthanides, scandium, and yttrium. These elements play a pivotal role in numerous high-tech devices and find extensive applications across various industries. The report thoroughly examines the market dynamics, trends, and key players, offering insights into demand and supply segments. The research methodology employed in the report ensures accuracy and comprehensiveness.
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Anticipated Growth in Revenue:
Elements Market size was valued at US$ 3234 Mn. in 2022 and the total revenue is expected to grow at 6.9% through 2022 to 2029, reaching nearly US$ 5159.23 Mn. by 2029.
Elements Market Dynamics:
The report highlights the driving forces propelling the Elements Market. The growing demand for earth elements in electronics, such as cellphones, electric vehicles, and electronic displays, is a significant driver. Furthermore, the increasing usage of these elements in aerospace applications and green technologies contributes to market expansion. However, challenges like element scarcity, fluctuating prices, and mining concerns restrain market growth.
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Elements Market Segmentation:
by Type
Lanthanum
Cerium
Neodymium
Praseodymium
Samarium
Cerium dominates the market in terms of kind. Cerium is used extensively in nickel-metal hydride batteries as well as catalytic converters and exhaust systems in the automotive sector to reduce emissions. Autocatalysts, polishing agents, and magnets had the highest demand. The most prevalent element on earth, cerium accounts for up to 0.0046% of the crust's mass. According to the information available, sales in the automotive sector have climbed by 3%, which has enabled the company to keep the balance between supply and demand. hence raising output. As a result of catalytic converters' ability to minimize harmful vehicle exhaust emissions, demand for them is anticipated to increase.
by Application
Magnets
Metallurgy
Batteries
Polishing agents
Glass & ceramics
Catalyst
Phosphors
Others
In 2022, the magnet market segment had the greatest market share according to Application. Servo motors, sensors, speakers, headphones, and linear actuators are just a few examples of the end-user applications where magnets are used. The use of elements is expected to expand because to the rising need for magnets in consumer electronics applications, the automotive industry, and turbines. Additionally, due to the fact that magnets are used in medical equipment like heart pumps, sleep apnea devices, insulin pumps, and others, the Middle East, Africa, and the Asia-Pacific have seen a boost in investment in the healthcare sector, which will fuel the expansion of the components market. The increased use of magnets is expected to result from the growing need for electric vehicles to minimize CO2 emissions.
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Elements Market Key Players:
1. Shin-Etsu Chemical Co. Ltd.
2. China Minerals Rare Earth Co. Ltd.
3. China Northern Rare Earth (Group) High-Tech Co., Ltd.,
4. Iluka Resources Ltd
5. Lynas Corporation Ltd
6. Alkane Resources Ltd
7. Metal Rare Earth ltd
8. IREL, India
9. Arafura
10. Canada Rare Earth Corporation
11. Grrenland Mineral Ltd
12. Baotou Rare Earth
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Regional Insights:
The report provides comprehensive regional insights into the Elements Market. The Asia Pacific region leads the market, driven by its dominance in the automotive and consumer electronics sectors. China, the US, and Australia are key players in production and consumption. North America's market growth is bolstered by the rise of electric vehicles and the presence of market giants like Tesla. Europe shows promise due to the automotive industry's adoption of green technology. South America's growth is fueled by industrialization, while the Middle East and Africa experience demand from non-conventional energy sources.
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023-2029
• 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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