Global Rare Earth Metals Market: Snapshot
Rare earth metals are a group of elements consisting
of the fifteen lanthanide series elements in addition to scandium and
yttrium. These elements are often found in nature along with each
other. While not being rare as such, they are widely dispersed across
the earth and can be hard to separate. These metals display a similar
set of properties and are utilized in a variety of application
avenues in the electrical and electronics sector. Digital memory
devices, smartphones and other cellphones, fluorescent lighting,
catalytic converters used in automotive exhaust systems, and
rechargeable batteries are among the key application segments of the
global rare earth metals market.
This 108 page report gives readers a comprehensive
overview of the Rare Earth Metals market. Browse through 20 data
tables and 38 figures to unlock the hidden opportunities in this
market@
The global rare earth metals market is divided into
heavy earth metals and light earth metals on the basis of product
type. Cerium, which is a light rare earth metal, is the most widely
used rare earth metal. Lanthanum and neodymium, two of the other
leading product segments of the global rare earth metals market, are
also light rare earth metals. Neodymium is also among the highest
revenue generators in the global rare earth metals market; scandium
is the leader in the global rare earth metals market in this regard.
Booming Electronics Sector to Drive Global Rare
Earth Metals Market
The prime driver for the global rare earth metals
market is the steady growth of the electronics industry and the
rising use of electronic equipment in a variety of end use
applications. The electronics industry has flourished in recent years
thanks to the growing disposable income of consumers in an increasing
number of regions and the consequent rise in the demand for premium
consumer goods. The use of rare earth metals in the production of
magnets is thus also crucial in ensuring steady revenue generation
from the electronics sector. Due to the convenience provided by
electronic and automated equipment, the electronics sector now has a
presence in almost every sector. This is likely to enable steady
demand from the global rare earth metals market in the coming years.
The automotive industry has a multifaceted role to
play in the future development of the global rare earth metals
market. The rising purchasing power of consumers in important
prospective automotive markets has led to rising incorporation of
electronic elements in automotive design, which is likely to remain a
popular trend in the coming years. The demand for automotive
electronics for the purpose of entertainment, security, and several
other aspects is likely to rise steadily in the coming years, leading
to rising demand from the global rare earth metals market.
The steady support for the development of electric
vehicles from within the automotive industry also bodes well for the
global rare earth metals market. The environmentally oriented
regulatory framework in several countries is also conducive for the
growth of the electric vehicles market, leading to strong growth
prospects for the global rare earth metals market. Metalworking and
glass are also likely to remain important sectors for the global rare
earth metals market in the coming years
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Concentration of Rare Earth Ores to Ensure Steady
Dominance of China
Geographically, the global rare earth metals market
is led by China, as it is home to the largest deposits of rare earth
metals. Other leading producers of rare earth metals include
Australia, India, Russia, and the U.S., indicating the likely
dominance of Asia Pacific in the global rare earth metals market in
the coming years. The booming automotive and consumer electronics
industries in China are likely to be vital for the global rare earth
metals market in the coming years.
Key companies in the global rare earth metals market
include Great Western Minerals Group, Rare Elements Resources Ltd.,
Arafura Resources, China Rare Earth Holdings, Molycorp, Alkane
Resources, Avalon Rare Metals, and Indian Rare Earths.
Rare Earth Metals Market, by Type
- Lanthanum
- Praseodymium
- Cerium
- Neodymium
- Samarium
- Promethium
- Europium
- Dysprosium
- Holmium
- Gadolinium
- Terbium
- Thulium
- Scandium
- Yttrium
- Erbium
- Ytterbium
- Lutetium
Rare Earth Metals Market, by Application
- Magnets
- Catalyst
- Metallurgy
- Ceramics
- Phosphors
- Glass
- Polishing
Rare earth Metals Market, by Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
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