The Report Titled on “Global Rare Earth Elements Market – Segmented by Element, End-user Industry, and Region – Growth, Trends, and Forecast (2019 – 2023)”, Delivers Information studies of the current situation (with the base year being 2019) and the growth prospects of global Rare Earth Elements Forecast market 2019-2023.
“Rare Earth Elements Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Rare Earth Elements Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
The Key Players covered in this study:-
Alkane Resources Ltd., Aluminum Corporation of China Ltd., Arafura Resources Limited, Avalon Advanced Materials Inc., China Minmetals Corporation, China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd., Caeneus Minerals Ltd, Eutectix, Galaxy Resources Ltd., Ganzhou Rare Earth Group.Co., Ltd., Iluka Resources Ltd., Inner Mongolia Baotou Steel Rare-Earth (group) Hi-tech Co., Ltd, International Ferro Metals Limited, Lynas Corporation Ltd., Medallion Resources, Northern Minerals Limited, Orbite Technologies Inc., Peak Resources Limited, Quest Rare Minerals Ltd, Rare Element Resources, Rising Nonferrous Metals Share Co., Ltd., Shin-Etsu Chemical Company, Stans Energy Corp., Tantalus Rare Earths AG, Ucore Rare Metals Inc., Xiamen Tungsten Co., Ltd
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Overview of Rare Earth Elements Market Report:
The global rare earth elements market is expected register significant growth during the forecast period, mainly driven by the high demand from emerging economies. Owing to their various properties, rare earth metals find applications in a wide range of industries. Rare earth permanent magnets are expected to record the highest growth, over the next 5 to 10 years.
High Demand from Emerging Economies Drives the Market
Owing to their properties, such as electronic, optical, and magnetic characteristics, rare earth metals find applications in a wide range of industries. These applications range from permanent magnets, metal alloys, phosphors, catalysts, and polishing, to glass additives. The growing end-user industries in developing Asia-Pacific region, including China, India, Malaysia, and South Korea, are expected to accelerate the demand for the rare earth elements market, over the forecast period. China was both the largest consumer and producer of rare earth elements, in 2017.
Cerium Dominating the Market
Cerium is used to manufacture catalytic converters. It helps to convert pollutants in the engine exhaust system into non-toxic compounds. Rechargeable batteries made from neodymium, lanthanum, and cerium (combined with manganese, nickel, cobalt, and/or aluminum) are used in car batteries in hybrid electric vehicles, electronic devices, and power tools. Cerium is also used to manufacture catalytic converters, which convert pollutants in engine exhaust system into non-toxic compounds.
Asia-Pacific to Dominate the Market
By geography, due to the ready availability, especially in countries, such as China, Japan, and Australia, Asia-Pacific is the largest segment in the global rare earth metals market. The considerable presence of rare earth metals, in industries, such as consumer electronics and hybrid electric vehicles, especially in Japan and China, has led to a tremendous demand from this region. Presently, permanent magnet garners the highest demand for rare earth metals in this region, whereas the demand for phosphors is expected to record robust growth.
Major Players: China Minmetals Corporation, Eutectix, Shin-Etsu Chemical Company, Xiamen Tungsten Co. Ltd, and Alkane Resources Ltd, amongst others.
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Reason to Purchase this Report:
To understand the impact of various product type on the market.To analyze various perspectives of the market, with the help of Porters five forces analysis.The product type and end-user industry that are expected to dominate the market.The countries that are expected to witness the fastest growth during the forecast period.Identify the latest developments, market shares, and strategies employed by the major market players.3 months analyst support along with the Market Estimate sheet in excel.
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Market Segment by Regions, regional analysis covers
- North America (the United States, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America (Brazil, Argentina, Colombia, etc.)
- The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)