Press release
Global Developments in Rare Earth Elements Market Indicate Robust Growth
๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ฅ๐๐ฆ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ข๐ฌ๐๐ ๐๐จ๐ซ ๐๐ข๐ ๐ง๐ข๐๐ข๐๐๐ง๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐กThe rare earth element market is expected to grow at a compound annual growth rate (CAGR) of 12.3% from US$ 7.50 billion in 2023 to US$ 16.90 billion by 2030.
๐๐๐ ๐๐ซ ๐ญ๐จ ๐๐ข๐ฌ๐๐จ๐ฏ๐๐ซ ๐ฐ๐ก๐๐ญ'๐ฌ ๐ฐ๐ข๐ญ๐ก๐ข๐ง? ๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ๐๐๐ฒ:https://www.maximizemarketresearch.com/request-sample/99093/
๐๐ข๐๐ญ๐ง๐๐ฆ'๐ฌ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ
Vietnam, possessing approximately 20% of the world's rare earth reserves, is becoming a focal point for international collaborations. A notable development is the joint venture between South Korea's Trident Global Holdings and the United States' Zoetic Global, in partnership with Vietnam's Hung Hai Group, to co-develop premium rare earth mines in Lai Chau province. This initiative aims to enhance sustainable rare earth extraction and processing, ensuring a stable supply for global industries.
๐๐ก๐๐ข๐ฅ๐๐ง๐'๐ฌ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ซ๐จ๐ฐ๐ญ๐ก
Thailand is witnessing a surge in industrial activities related to rare earth elements. The establishment of a $486 million facility by China's ๐๐๐ underscores Thailand's strategic importance in the Southeast Asian market. This facility is expected to produce 150,000 units annually, catering to both local and international markets, including Europe.
๐๐๐ฉ๐๐ง'๐ฌ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ซ๐๐ง๐๐ฌ
Japan continues to be a significant player in the rare earth elements market, with major companies like ๐๐ก๐ข๐ง-๐๐ญ๐ฌ๐ฎ ๐๐ก๐๐ฆ๐ข๐๐๐ฅ, ๐๐๐ ๐๐จ๐ซ๐ฉ, and Proterial leading in magnet production. The country's efforts to reduce dependence on Chinese imports have led to a decrease from over 90% to 58% within a decade, with aims to bring it below 50% by 2025.
๐๐จ๐ฎ๐ญ๐ก ๐๐จ๐ซ๐๐'๐ฌ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
South Korea is actively enhancing its rare earth capabilities. ๐๐จ๐ฌ๐๐จ ๐๐ง๐ญ๐๐ซ๐ง๐๐ญ๐ข๐จ๐ง๐๐ฅ has partnered with ๐๐ญ๐๐ซ ๐๐ซ๐จ๐ฎ๐ฉ to supply permanent magnets to German and U.S. automakers by 2025, sourcing materials from the U.S., Australia, and Vietnam. This collaboration signifies South Korea's commitment to securing a stable supply chain for critical materials.
๐๐ข๐ง๐ ๐๐ฉ๐จ๐ซ๐'๐ฌ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ฉ๐๐๐ญ๐ข๐จ๐ง
Singapore is emerging as a pivotal hub in the rare earth elements market, focusing on advanced material processing and technological innovation. The nation's strategic location and robust infrastructure make it an attractive destination for companies aiming to establish a foothold in the Asia-Pacific region.
๐.๐. ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ซ๐จ๐ฐ๐ญ๐ก
The United States is intensifying efforts to reduce reliance on foreign rare earth supplies. Companies like ๐๐ฒ๐ง๐๐ฌ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก๐ฌ are constructing a heavy rare earth processing plant in Texas, supported by $288 million in U.S. defense funding, expected to commence operations by 2026. Additionally, ๐๐ ๐๐๐ญ๐๐ซ๐ข๐๐ฅ๐ฌ is building a rare earth magnet manufacturing facility in Texas, aiming to produce finished magnets by late 2025.
๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ฅ๐๐ฆ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ
๐๐๐ซ๐ญ๐ก ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ
Europe is striving to revitalize its rare earth industry to meet the growing demand for green technologies. Belgian chemicals maker ๐๐จ๐ฅ๐ฏ๐๐ฒ is expanding its operations in France, aiming to launch separation and production of rare earth oxides needed for permanent magnet production by 2025. Despite these efforts, challenges such as public opposition, limited funding, and cheaper imports from China pose significant hurdles.
๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ฅ๐๐ฆ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
๐๐ฒ ๐๐๐ญ๐๐ฅ
Lanthanum
Cerium
Neodymium
Praseodymium
Samarium
In terms of total volume, cerium was the most widely used element in metals in 2023. The demand for rare earths is anticipated to increase during the projected period due to the growing popularity of hybrid automobiles. The volume of praseodymium is anticipated to increase at a CAGR of 6.4% between 2024 and 2030. In aviation engines, it is utilized as an alloying agent with magnesium to create high-strength metals. The demand for flights rises in tandem with the number of travelers from around the globe. In February 2017, General Electric subsidiary GE Aviation pledged USD 12.3 billion to expand its capability for producing airplane engines. During the projection period, this is anticipated to increase demand for praseodymium.
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Permanent Magnets
Metals Alloys
Polishing
Additives
Catalysts
Phosphors
In terms of volume and revenue, the magnet application segment was the most widely used in 2023. Examples of their applications include speakers, sensors, servo motors, linear actuators, and computer hard drives. Throughout the projected period, increased use of rare earth elements is anticipated due to growing demand for magnets in consumer electronics, turbines, and vehicles. From 2024 to 2030, revenue from ceramic applications is anticipated to grow at a compound annual growth rate (CAGR) of 7.0 percent. In the ceramics sector, yttrium, lanthanum, cerium, neodymium, and praseodymium are commonly utilized in engineering, electronics, and tiling applications. The Ceramic World Web reports that between 2016 and 2017, the production of ceramic tiles rose by 2.2%.
๐๐ฑ๐๐ข๐ญ๐๐ ๐ญ๐จ ๐๐ข๐ฏ๐ ๐ข๐ง? ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ ๐ฎ๐ง๐๐จ๐ฏ๐๐ซ ๐ข๐ญ๐ฌ ๐๐จ๐ง๐ญ๐๐ง๐ญ๐ฌ:https://www.maximizemarketresearch.com/request-sample/99093/
๐๐๐๐ฅ๐ ๐จ๐ ๐๐จ๐ง๐ญ๐๐ง๐ญ: ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ฅ๐๐ฆ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ
Part 01: Executive Summary
Part 02: Scope of the Global Rare Earth Elements Market Report
Part 03: Global Global Rare Earth Elements Market Landscape
Part 04: Global Global Rare Earth Elements Market Sizing
Part 05: Global Global Rare Earth Elements Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
๐๐ง๐ญ๐ซ๐ข๐ ๐ฎ๐๐ ๐ญ๐จ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐๐จ๐ง๐ญ๐๐ง๐ญ๐ฌ? ๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ก๐๐ง๐๐ฌ-๐จ๐ง ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ:https://www.maximizemarketresearch.com/request-sample/99093/
๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ฅ๐๐ฆ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
1. Ucore Rare Metals Inc
2. Arafura Resources Limited
3. Alkane Resources ltd
4. Lynas Corporation
5. Avalon Advanced Materials, Inc.
6. Canada Rare Earth Corporation
7. Iluka Resources Limited
8. Baotou Jinmeng Rare Earth Co
9. Northern Minerals Limited
10. Shin-Etsu Chemical Co. Ltd.
11. China Minmetals Rare Earth Co. Ltd.
12. China Northern Rare Earth (Group) High-Tech Co., Ltd.
13. Iluka Resource Ltd (Australia)
๐ ๐จ๐ซ ๐๐๐๐ฉ๐๐ซ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐ฉ๐๐ซ๐ฎ๐ฌ๐ ๐ญ๐ก๐ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ:https://www.maximizemarketresearch.com/market-report/rare-earth-elements-market/99093/
๐๐๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ฌ๐ฐ๐๐ซ๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ ๐๐๐ซ๐ญ๐ก ๐๐ฅ๐๐ฆ๐๐ง๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
What is Global Rare Earth Elements ?
What is the growth rate of the Global Rare Earth Elements Market?
What was the Global Rare Earth Elements Market size in 2023?
What are the upcoming opportunities and trends for the Global Rare Earth Elements Market?
What are the different segments of the Global Rare Earth Elements Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Global Rare Earth Elements Market?
What segments are covered in the Global Rare Earth Elements Market?
Which are the factors expected to drive the Global Rare Earth Elements Market growth?
What growth strategies are the players considering to increase their presence in Global Rare Earth Elements ?
Who are the leading companies and what are their portfolios in Global Rare Earth Elements Market?
Who are the key players in the Global Rare Earth Elements market?
What is the CAGR at which the Global Rare Earth Elements market will grow during the forecast period?
๐๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐ ๐ฌ:
Past Market Size and Competitive Landscape (2018 to 2023)
Past Pricing and price curve by region (2018 to 2023)
Market Size, Share, Size & Forecast by different segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
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
๐๐๐ญ๐๐ฌ๐ญ ๐๐ฎ๐ญ๐ญ๐ข๐ง๐ -๐๐๐ ๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐๐ซ๐จ๐ฆ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐ข๐ฌ ๐ง๐จ๐ฐ ๐ญ๐ซ๐๐ง๐๐ข๐ง๐ :
Global Indoor Positioning And Indoor Navigation Market https://www.maximizemarketresearch.com/market-report/global-indoor-positioning-and-indoor-navigation-market/25418/
India Motorcycle Helmets Market https://www.maximizemarketresearch.com/market-report/india-motorcycle-helmets-market/44869/
Global Mobility Scooters Market https://www.maximizemarketresearch.com/market-report/global-mobility-scooters-market/22182/
Global Automotive Parts Remanufacturing Market https://www.maximizemarketresearch.com/market-report/global-automotive-parts-remanufacturing-market/77176/
Earthmoving Equipment Market https://www.maximizemarketresearch.com/market-report/earthmoving-equipment-market/123477/
Global Marble Market https://www.maximizemarketresearch.com/market-report/global-marble-market/22246/
Global Medium Voltage Switchgear Market https://www.maximizemarketresearch.com/market-report/global-medium-voltage-switchgear-market/23603/
Global E Cigarette And Vaping Market https://www.maximizemarketresearch.com/market-report/global-e-cigarette-and-vaping-market/21502/
Global Single Superphosphate Ssp Market https://www.maximizemarketresearch.com/market-report/global-single-superphosphate-ssp-market/71155/
Liqueur Market https://www.maximizemarketresearch.com/market-report/liqueur-market/199850/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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