Rare Earth Metals Market to Witness Steady Growth During the Forecast Period 2017-2024

MaketStudyReport.com adds a New Rare Earth Metals Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a 9% CAGR to 2024.

Growing demand for magnets in automobiles, and energy generation will majorly contribute to the growth of global rare earth metals market over the forecast period. The demand for rare earth magnets is majorly increasing by their consumption in electric and hybrid vehicles, and wind turbines. Increasing focus on utilizing clean and renewable energy is giving a substantial pressure on the electricity providers, to generate energy through renewable sources, which in turn will show a positive impact on the growth of this market.

Rare earth metals are a group of 17 elements, which are found in geological deposits, and share similar properties. Some of the most abundant metals in the world are neodymium, cerium, and lanthanum. All the rare earth metals are classified into two groups, namely light rare earth's (LRE's), and heavy rare earth's (HRE's).

Get sample Copy of this Report: https://www.marketstudyreport.com/request-a-sample/758003/?utm_source=OPR-PSR

Rare Earth Metals Market will exceed USD 20 billion by 2024. High performance of rare earth magnets at very high temperatures, coupled with high corrosion resistance will significantly help the market to grow at a higher rate over the forecast period. These factors will also increase the demand for rare earth's in wind turbine applications, as other metals cannot substitute them.

Inconsistencies in rare earth metal supply and demand is the significant restraint to the growth of global rare earth metals market over the forecast period. As majority of the global rare earth production capacity is in China, it is becoming difficult for the other countries to rely more on China, and causing huge disturbances in trading. Also, small changes in the production of rare earth metals, will show some bigger changes in the prices of these metals, as the demand for these metals is established globally.

Cerium, and lanthanum are found out to be the major metals in terms of volume over the forecast period. Growing consumption in catalytic, and battery applications has led the segmental market to grow over the forecast period. By revenue, neodymium had the highest market share in 2016, with a market share of over 30%. It will dominate the global rare earth metals market till the end of projected period. Neodymium market will grow at a CAGR of 8.2% from 2017 to 2024.

By applications, magnets held the dominant market share in terms of both volume, and revenue over the forecast period. This segment grows at a CAGR of more than 8.2% in terms of revenue, and 7.2% in terms of market volume. Catalysts application segment has the second largest market share in terms of both volume, and revenue in the global rare earth metals market. In 2016, the catalysts application segment contributed a share of more than 23% share of the global rare earth metals market.

Get Discount on this Report: https://www.marketstudyreport.com/check-for-discount/758003/

In terms of region, the Asia Pacific region has the lion's share of the global rare earth metals market. Rapid industrialization in the developing countries like India, and China, coupled with high consumption in China, due to strict regulations regarding clean energy production drives the regional rare earth metals market till the end of the forecast period.

Some of the key companies in the global rare earth metals market are Great Western Minerals, India Rare Earth Ltd., Avalon Rare Metals, and Canada Rare Earth Corporation among others.

Rare earth metals market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD billion from 2013 to 2024, for the following segments:

Rare earth metals market, metal by application:
Cerium, Magnets, Colorants, Alloys, Optical instruments, Catalysts, Dysprosium, Magnets, Colorants, Alloys, Optical instruments, Catalysts, Erbium, Others

The above information is provided on a regional basis for the following:
North America, U.S., Canada, Europe, Germany, UK, France, Spain, Italy, Russia, Asia Pacific, China, India, Japan, South Korea, Australia, Latin America, Brazil, Mexico, Argentina, Middle East and Africa, South Africa, Saudi Arabia.

For More Details of this Report: https://www.marketstudyreport.com/reports/rare-earth-metals-market

Related Report:

Asia-Pacific Rare Earth Metals Market Report 2017

In this report, the Asia-Pacific Rare Earth Metals market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.

https://www.marketstudyreport.com/reports/asia-pacific-rare-earth-metals-market-report-2017/?utm_source=RR-PSR

About Us:
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Contact Us:
Market Study Report
The Green Suite #4594,
Dover, DE 19901
United States
Phone: 1-201-355-0868
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
News: https://www.marketstudyreport.com/category/news-releases/

This release was published on openPR.