Rare Earth Metals Market Analysis, Trends, Growth, Research And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Rare Earth Metals Global Market Report 2023 identifies increase in the demand for electronics as the major driver for the rare earth metals market's growth in the forecast period. Rare earth metals are widely used in the manufacturing of electronic products such as cellular telephones, computer hard drives, flat-screen monitors, and televisions.

The global rare earth metals market size grew from $6.58 billion in 2022 to $7.29 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The rare earth metals market size is expected to grow to $9.6 billion in 2027 at a CAGR of 7.1%.

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Major competitors in the rare earth metals market are Lynas Rare Earths, Iluka Resources, Greenland Minerals, Northern Minerals, Arafura Resources limited, Neo Performance Materials, MP Materials Corp., Australian Strategic Materials Limited, Hitachi Metals Ltd., Energy Fuels Inc., Pensana Rare Earths PLC.

A key trend in the rare earth metals market includes technological advancement.This ultrathin 2D magnet can operate at room temperature and can be used in computing and electronics. For instance, in July 2021, Scientists at the Department of Energy, Lawrence Berkeley National Laboratory recently developed an ultrathin 2D magnet that is chemically stable under ambient conditions and can be used in high-density, compact spintronic memory devices.

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The rare earth metals market is segmented -
• By Product Type: Light Rare Earth Metals, Heavy Earth Metals, Other Product Types

• By Metal Type: Neodymium, Yttrium, Dysprosium, Terbium, Cerium, Lanthanum, Other Metal Types

• By Application: Catalysts, Ceramics/Glass, Glass Polishing, Metallurgy, Other Applications

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the rare earth metals market.

The Business Research Company's "Global Rare Earth Metals Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Rare Earth Metals Market Include:
1. Executive Summary
2. Rare Earth Metals Market Characteristics
3. Rare Earth Metals Market Trends And Strategies
4. Rare Earth Metals Market - Macro Economic Scenario
5. Rare Earth Metals Market Size And Growth
……
26. Africa Rare Earth Metals Market
27. Rare Earth Metals Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Rare Earth Metals Market
29. Rare Earth Metals Market Future Outlook and Potential Analysis
30. Appendix

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