Rare Earth Elements Market Share, Growth, Trends, Analysis and Forecast Report 2023-2030

Rare Earth Elements Market Overview
Seventeen metals and compounds of those same metals with unique properties make up the group known as rare earth elements in the periodic table. Samarium, Yttrium, Scandium, Terbium, Thulium, Ytterbium, and Yttrium are among the fifteen lanthanide elements, along with Erbium, Gadolinium, Holmium, Lanthanum, Neodymium, Praseodymium, Promethium, and Cerium.

One reason boosting the usage of rare earth elements is the growing need for consumer durables like computers, tablets, and smartphones. Due to increased industrialization, building and construction activities, and other government-led digitalization initiatives, the demand for these materials is predicted to grow quickly in developing nations. It is predicted that the demand for electric vehicles (EVs) has increased in Germany, the US, and the UK.

Rare Earth Elements Market Size and Growth Analysis
The global Rare Earth Elements Market is expected to exhibit a CAGR of 9.4% during the forecast period 2023-2030.

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Rare Earth Elements Market Dynamics
Federal subsidies and mounting fuel emission concerns are forcing the car industry to adopt efficient hybrid vehicle variants. Rising consumer awareness of environmental issues and increasing energy efficiency are expected to drive up demand for hybrid electric vehicles in the future. Rare earth oxides are utilized in electric tricycles, bicycles, and magnetic refrigeration in addition to passenger cars.

Furthermore, rare earth compounds such as terbium, cerium, yttrium, and gadolinium are used as phosphors in a variety of electronic devices, such as LCDs and smartphones. These rare earth compounds exhibit electro-phosphorescence, a phenomenon in which the compounds' internal colors change in response to an electric discharge.

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Rare Earth Elements Market Segmentation Analysis

By Type
By Source
By Application
By End-User
By Region

Major Companies Covered
China Rare Earth Holdings Limited, Arafura Resources Limited, Lynas Corporation, Ltd., Avalon Advanced Materials Inc., Alkane Resources Ltd, Shin-Etsu Chemical Co. Ltd, Canada Rare Earth Corporation, Iluka Resources Ltd., Eutectix LLC, Rare Element Resources Ltd and others.

Trending Report
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Zirconium Market: https://www.datamintelligence.com/research-report/zirconium-market

Green Steel Market: https://www.datamintelligence.com/research-report/green-steel-market

Non Ferrous Metals Recycling Market: https://www.datamintelligence.com/research-report/non-ferrous-metals-recycling-market

Platinum Nickel Alloy Market: https://www.datamintelligence.com/research-report/platinum-nickel-alloy-market

Nanosilver Market: https://www.datamintelligence.com/research-report/nanosilver-market

Round Billets Market: https://www.datamintelligence.com/research-report/round-billets-market

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