Rare Earth Metal Market Information Report by Type (Lanthanum, Cerium, Neodymium, Samarium, Europium and others), By End-use (Magnets, Metals Alloys, Polishing, Catalysts and others) and By Region - Forecast to 2030
ID: MRFR/MIN/1662-HCR | 101 Pages | Published By Anshula Mandaokar on March 2023
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Rare Earth Metal Market
The Rare Earth Metal Market is projected to be worth USD 5.520.2 Million by 2030, registering a CAGR of 6.40% during the forecast period (2022-2030)
$5.520.2 Million
6.40%
Asia Pacific
2022-2030
Rare Earth Metal Market Overview: Rare earth metal market is expected to grow CAGR 6.40% during the forecast period. The rare-earth elements also referred to as rare-earth metals, sometimes known as rare-earth oxides, another familiar term called lanthanides is a set of seventeen nearly-identical lustrous ivory-white ductile heavy metals. Rare earth metals are a kind of element present in the earth's crust that has similar chemical and physical properties. These types of elements extracted could be processed and extracted in the form of their ore and includes both light and hard categories. Samarium and Praseodymium fall in the agility-based category and which is easily found than heavy metals like terbium, gadolinium, holmium, thulium, europium, dysprosium, lutetium, erbium, and ytterbium. Rare earth metal elements are mostly used in the production of electric vehicles with different components, as they offer high power and corrosion control. They are quite expensive compared to aluminum nickel cobalt magnets, and ceramic however, they have their high properties than the conventional magnets. The Neodymium iron boron magnets could get large currents to generate a high-power magnetic field, as it is significant for the magnets to thoroughly resist demagnetization and function last longer. These incredible properties are the major factor to drive the market of rare earth metals toward the preference of almost all-electric vehicle manufacturers are neodymium magnets, instead of existing magnets. Study Objectives of global rare earth metal market:
- To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the global rare earth metal market
- To provide insights about factors affecting the market growth
- To Analyse the global rare earth metal market based on various factors such as supply chain analysis, and Porter’s five force analysis
- To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segments by type, application and region
- To provide strategic profiling of key players in the market, comprehensively analysing their core competencies, and drawing a competitive landscape for the market
- To track and analyse competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global rare earth metal market
Market Segmentation:
Regional Analysis of Rare Earth Metal Market: The rare earth metal market can be geographically segmented as North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). Asia pacific is expected to be the largest consumer and producer of global rare earth metals with the high consumption of these metals in China. North America is also expected to grow rapidly as it is a leading importer of rare earth metals from China, the largest extraction region of rare earth metals.Key Players:The key players in rare earth metal market are Lynas Corporation, Ltd.( Australia), Molycorp Inc. (U.S.), Alkane Resources Ltd (Australia), Baotou Steel Rare-earth (China), Ucore Rare Metals Inc.(Canada), Tantalus Rare Earths AG (Germany), Tasman Metals Ltd. (Canada), Greenland Minerals and Energy Ltd. (Australia), Avalon Advanced Materials Inc. (Canada) and others.Recent DevelopmentThe purification and extraction processes are done by ligand-assisted chromatography which is used to purify and remove rare earth metals from recycled magnets, coal ash, and raw ore, effectively, safely and the environmental impact is good compared to the traditional magnetic processes, according to the recent Research & Development at Purdue University, located in the U.S. Tesla, another major maker of electric vehicles, are preferring permanent magnet motors for their electric vehicles, to provide the Chinese electric vehicle manufacturers.In the year 2019, Blue Line and Lynas Corporation declared a partnership to develop rare earth metals separation capacity in the region of the United States.In 2019 April, the firm invested $ 2.16 million in funds in Calidus Resources Ltd., a gold exploration firm located in Australia. In 2019 March, Lynas Corporation declared a Memorandum of Understanding with the Migration Agents Registration Authority to commercialize the offset underflow remainder from the Lynas Malaysia plant.Intended Audience:
- Rare earth metal extractors
- Distributer & Supplier companies
- End Users
- consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
Product Analysis:
- Product matrix which gives a detailed comparison of the market for different recycled product types
Additional Information:
- Regulatory Landscape
- Pricing Analysis
- Macroeconomic Indicators
Geographic Analysis:
- Geographical analysis across 15 countries
Company Information:
- Profiling of 10 key market players
- In-depth analysis including SWOT analysis, and strategy information of related to report title
- Competitive landscape including emerging trends adopted by major companies
The report for Rare earth metal Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030 : Significant value |
| CAGR | 6.40% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By End-use and By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Lynas Corporation, Ltd.( Australia), Molycorp Inc. (U.S.), Alkane Resources Ltd (Australia), Baotou Steel Rare-earth (China), Ucore Rare Metals Inc.(Canada), Tantalus Rare Earths AG (Germany), Tasman Metals Ltd. (Canada), Greenland Minerals and Energy Ltd. (Australia), Avalon Advanced Materials Inc. (Canada) and others |
| Key Market Opportunities | The increase in demand of rare metals such as Neodymium and Praseodymium |
| Key Market Drivers | The demand for electric vehicles is expected to increase with the application of strict regulations |
Frequently Asked Questions (FAQ) :
The forecast period of the Global Rare Earth Metal Market until 2030.
One of them is neodymium, because it's the most important REE used in permanent magnets.
Asia pacific is expected to be the largest consumer and producer
