Rare Earth Elements (REE) Global Market Slated to Grow at 6% CAGR till 2022 – Numerous Application Areas Driving the Industry

The Global Rare Earth Elements (REE) Market is valued at 5.3 billion USD in 2015 and the amount of rare earth reserves available was estimated to be XX.XX million metric tons worldwide. The market is expected to grow at a CAGR of 6% during the forecast period.

Rare earth elements (REEs) are actually very common in the earth’s crust. They are used as catalysts, phosphors, and polishing compounds. Air pollution control, illuminated screens on electronic devices, and the polishing of optical-quality glass are some of its well-known uses. REEs are critical components in consumer electronics such as televisions, tablet computers, cameras, and mobile phones. Due to their unique optical and magnetic properties, Rare Earth Elements are used to make rechargeable batteries found in hybrid cars. REEs are also essential to many green energy technologies and are hence called green elements.

Market Dynamics of the Global Rare Earth Elements (REE) Market

Drivers:
- Demand from emerging economies
- Application of rare earth magnets in wind turbines

Restraints:
- Global Rare Earth Elements (REE) Market Segmentation

The market can be broadly segmented by element (cerium, neodymium, lanthanum, dysprosium, terbium, yttrium, and others).

Market by applications - Catalysts, Ceramics, Phosphors, Glass & Polishing, Metal Alloys, Magnets and others.

The market has also been segmented by geography on the basis production and consumption.

China is the world’s biggest rare earth producer. The country’s rare earth mineral production stood at over 100,000 tons in 2015, accounting for over 90% of global production. China also accounts for about 60% of global consumption.

Other countries, including Australia, Canada and South Africa, are undertaking exploration projects. They have already commenced mining activities on a range of large rare earth deposits that have the potential to make a significant contribution to global supplies. Rare earth element explorations and/or developments are also being done in Thailand, Malawi, and Sri Lanka.

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The USD 1 billion Dubbo Zirconia Project (DZP) is one of Australia’s most valuable rare metal/rare earth projects. With an estimated mine life of 70+ years, the DZP will be the next big project to hit the global market in near future.

The major players in this market are:
1. Alkane Resources Ltd.
2. China Minmetals Rare Earth Co. Ltd.
3. Great Western Minerals Group Ltd.
4. Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co Ltd.
5. Molycorp Inc.

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Key Deliverables in the Study:

• Analysis for the global rare earth elements (REE) market, with region specific assessments and competition analysis on a global and regional scale.
• Market definition along with the identification of key drivers and restraints.
• Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
• Extensively researched competitive landscape section with profiles of major companies along with their market share.
• Identification and analysis of the macro and micro factors that affect the global rare earth elements (REE) market on both global and regional scale.
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
• A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
• Insights on the major countries/regions where this industry is growing and to also identify the regions that are still untapped.

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