Rare Earth Element Market is anticipated to reach US$ 16.90 Bn. by 2030 from US$ 7.50 Bn. in 2023 at a CAGR of 12.3 % during a forecast period.
Rare Earth Element Market Report Overview:
Rare earth elements are a group of seventeen elements found in the earth’s crust that share similar chemical and physical properties. Common examples include cerium, neodymium, erbium, holmium, lanthanum, praseodymium, yttrium, and dysprosium. These elements offer benefits such as high electrical conductivity, enhanced magnetism, and weight reduction. Due to these advantages, rare earth elements are utilized across various industries, including automobiles, transportation, power generation, construction, medical, and military applications.
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Rare Earth Element Market Report Scope and Research Methodology:
Rare-earth permanent magnets are anticipated to be the fastest-growing segment in the market over the forecast period. Key rare-earth elements used in these magnets include neodymium, praseodymium, dysprosium, terbium, and yttrium. These metals are prized for their unique properties, such as remanence and high coercivity, which help maintain their magnetism over time. The automotive sector is a major user of these magnets, with both conventional and hybrid vehicles relying heavily on them.
In catalytic systems, rare-earth metals play a crucial role. They are primarily used to absorb, store, and release oxygen while regulating the operating environment. Lanthanum and cerium are particularly prevalent in these systems due to their effectiveness in catalytic applications.
Rare Earth Element Market Regional Insights:
The research covers a detailed analysis of the market size and dynamics in North America, Canada, Mexico, Europe, Germany, France, Spain, Italy, Rest of Europe, Asia-Pacific, China, India, Japan, Australia, Korea, ASEAN countries, rest of APAC, South America, Brazil, Middle East and Africa.
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Rare Earth Element Market Segmentation:
By Metal:
Lanthanum: Lanthanum is a versatile rare earth metal used in various applications. It is crucial in the production of high-performance alloys and is commonly used in the manufacturing of camera and telescope lenses due to its optical properties.
Cerium: Cerium is one of the most abundant rare earth metals and has a wide range of applications. It is primarily used in catalytic converters for vehicles to reduce emissions.
By Application:
Permanent Magnets: Rare earth metals, particularly neodymium, samarium, and dysprosium, are crucial in the production of high-performance permanent magnets.
Metal Alloys: Lanthanum, cerium, and praseodymium are often used to create metal alloys with enhanced properties. These alloys are used in aerospace components, automotive parts, and other high-performance applications requiring improved strength, durability, and resistance to heat.
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Rare Earth Element Market Key Players:
1. Ucore Rare Metals Inc
2. Arafura Resources Limited
3. Alkane Resources ltd
4. Lynas Corporation
5. Avalon Advanced Materials, Inc.
6. Canada Rare Earth Corporation
7. Iluka Resources Limited
8. Baotou Jinmeng Rare Earth Co
9. Northern Minerals Limited
10. Shin-Etsu Chemical Co. Ltd.
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Key questions answered in the Rare Earth Element Market are:
- What is Rare Earth Element ?
- What are the Rare Earth Element market segments?
- What is the expected Rare Earth Element market size by 2030?
- What is the expected CAGR of the Rare Earth Element market during the forecast period?
- What are the emerging trends in the Rare Earth Element Market?
- What are the factors contributing to the final price of Rare Earth Element ?
- What are the major challenges that the Rare Earth Element Market could face in the future?
- Who held the largest market share in the Rare Earth Element Market?
- Who are the key players in the Rare Earth Element industry?
Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and their sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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