info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

US Initiates Self-Reliance Of Rare Earth Elements In 2024

By Shubhendra Anand , 26 June, 2024

Sustainable development includes several changes in the energy market. It is necessary to reduce greenhouse gas emissions in the environment. The clean energy transition has adopted several shifts in the energy markets. These changes comprise- from conventional fossil fuels to renewables, fuel-run vehicles to electric vehicles, and others. The adoption of renewables has changed the dynamics of the environmental system. Conventional fossil fuels are placed lower in the rank of priorities. However, studies have proven that coal can be adopted in the energy market to support the green energy revolution in 2024.

Since the beginning of 2024, the world has undergone many changes in the energy market. This is due to the growing requirement for renewables and other replacements to enhance the sustainability process. The United States has decided not to depend on China for the semiconductors and other raw materials needed for transformation in 2024. Hence, the United States has agreed to self-reliance on renewables to avoid supply chain disruptions and dependency on China. However, China dominates the international energy market due to its years of investment. China is also the hub for major rare earth elements globally. According to survey data, 70 percent of the world's rare earth element extraction is in China.

Globally, countries are facing issues with eradicating coal from the energy market. The United States is included among those nations, too. However, the United States is finding several ways to extract rare earth elements from existing coal mines in the country. The United States energy market claims that finding different ways to extract rare earth elements is effective.

Global market of rate earth elements

2024.png

Latest News

EUROPEAN-GAS-2024.jpg
Europe on a Verge to Face Energy Crisis

Europe's gas storage levels have been depleting at a faster pace over the years. In the last eight years, European gas storage has experienced a stunt decrease. The survey reports for 2024 show that the European region is experiencing depleting…

Read More

EV-VS-ICE-TRENDS-2024.jpg
Slow Evolving Automotive Market may Impact Green Transition

The global automotive industry faces multiple challenges in 2024. It is due to several other reasons apart from its affordability. Since the beginning of 2024, automotive trends have been evolving, shaking the balance of the automotive domain. A…

Read More

FERRO-ALLOYS-INDIAN-MARKET.jpg
Indian Ferro Alloys Faces Numerous Challenges in 2024

Ferro alloys play a crucial role in India’s steel industry. The manufacturing and production sector relies on ferro alloys to boost the nation's heavy industries and steel production. A survey of 2024 shows that the ferro alloys market is facing…

Read More

GLOBAL-EVS-SALES-2024.jpg
High Cost and Infrastructure Constraints Drive the Global EV Sales

The automobile market has experienced a global slowdown since the beginning of 2024. However, the electric vehicle market plummeted over the period in 2024. Several constraints are behind the fall of electric vehicle sales, such as costly raw…

Read More

Hydrogen-Trains-2024.jpg
Hydrogen Trains in 2024 to Drive Sustainability

Hydrogen trains signify an essential development in the world's efforts to decarbonize transport. А Hydrogen-powered trains emerged as the fastest way of mobility, with specific coverage and significant developments in several areas, signifying a…

Read More

Author Pic
Shubhendra Anand

Head Research