Global rare earth metal market is expected to rise to an estimated value of USD 17.49 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. Rare earth metals (REM), also known as rare earth elements (REE) are the collection of seventeen chemical elements in the environment. The term rare is given to them not due to the lack of abundance of these elements, rather their presence in the earth’s surface, they are quite difficult to explore as they are dispersed and not concentrated to a particular location.
Segmentation: Global Rare Earth Metal Market
- By Material Type (Lanthanum Oxide, Lutetium, Cerium, Praseodymium, Neodymium, Samarium, Erbium, Europium, Gadolinium, Terbium, Promethium, Scandium, Holmium, Dysprosium, Thulium, Ytterbium, Yttrium, Others)
- By Applications (Permanent Magnets, Catalysts, Glass Polishing, Phosphors, Ceramics, Colorants, Metallurgy, Optical Instruments, Glass Additives, Others)
- By Sales Channel (Direct Sales, Distributor)
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Key Market Competitors:
Few of the major competitors currently working in the global rare earth metal market are Minmetals Rare Earth Co., Ltd.; Alkane Resources Ltd; ARAFURA RESOURCES; Lynas Corporation Ltd; Avalon Rare Metals; Canada Rare Earth Corporation; IREL(INDIA) LIMITED; Greenland Minerals Ltd.; Iluka Resources Limited; Northern Minerals Limited; Rising Nonferrous Metals Co., Ltd; NEO; Rare Element Resources Ltd.; Krakatoa Resources Limited; JIANG XI SOUTH RARE EARTH HI-TECH CO,.LTD and China Rare Earth Holdings Limited among others.
Competitive Analysis: Global Rare Earth Metal Market
Global rare earth metal market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of rare earth metal market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Drivers:
- High levels of demand associated with the compounds due to their large range of applications; this factor is expected to fuel the growth of the market
- Growth in the levels of demand due to a renewed focus on clean energy and the usage of these metals in various applications associated with the development of clean energy; this factor is expected to propel the market growth
- Growing emergence of technologies in various industries resulting in increasing areas of applications for these metals is expected to boost the growth of the market
Market Restraints:
- Strict imposition from the authorities of China regarding the exports of rare earth elements amid rising levels of demand from their region is expected to result in vulnerable nature of prices globally due to the majority of China for these elements; this factor is expected to restrain the growth of the market
- Concerns regarding the illegal mining and exploration of these elements in the Asia-Pacific region also hinders the market growth
- Large area of applications of these metals amid lack of supply is creating a significant discrepancy in supply and demand hampers the growth of this market
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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Related Reports:
Rare Earth Metal Market:WiseGuyReports.com adds “Global Rare Earth Metal Market Research Report 2020 Analysis and Forecast 2026” reports to its database.Executive SummaryGlobal Rare Earth Metal Market is valued approximately at USD 3.09 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.40% over the forecast period 2019-2026.
The rare earth metals are gaining larger demand in manufacturing electric vehicles across the globe due to its advent offerings within automotive industries such as wind power generation, fuel cells, hydrogen storage and rechargeable batteries, as well as the permanent magnets used in electric and hybrid-electric vehicles.
Therefore, the rapid growth in demand of electric vehicles across the globe propel the demand of rare earth metal over the forecast years.
It was found that over 45% of electric cars on China’s road in 2018 that is 2.3 million compared to 39% in 2017.
However, fluctuating costs of rare earth metals and illegal mining in rare earth metal ores are the factors hampering the market growth over the forecast years.Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5278120-global-rare-earth-metal-market-size-study-byThe regional analysis of global Rare Earth Metal market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.
Factors such as inherent properties of rare earth metals and significant growth in consumer electronics industries in the region would create lucrative growth prospects for the Rare Earth Metal market across Asia-Pacific region.Major market player included in this report are:Alkane Resources Ltd.Arafura Resources Ltd.Avalon Rare Metals Inc.Baotou Hefa Rare Earth Co. Ltd.Canada Rare Earth CorporationChina Minmetals Rare Earth Co. Ltd.Great Western Minerals Group Ltd.Indian Rare EarthLynas Corporation Ltd.Molycorp Inc.The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years.
