Market Scenario:

One of the key drivers for the growth of rare earth metals market is the use of metals such as praseodymium and Yttrium in manufacturing of smartphones. The use of such metals in smartphones makes them compact, bright and powerful. Also, these are used for guiding missiles and enabling radar systems in the defense sector, which is expected to fuel the growth of the global rare earth metal market. The increase in adoption of rare earth metals for use in clean energy technologies such as electric cars and wind turbines have further augmented the growth of the market.

The rapid increase in the demand of rare earth metals in the permanent magnet industry is expected to drive the global rare earth metal market. The market is further expected to be driven by the recycling of the rare metals from electronic waste and the rapid exploration of unlimited rare metals in the earth’s crust. The various applications of rare earth metals such as in magnets and electronics, is further expected to drive the global rare earth metal market. Overdependence on conventional sources of energy has led to an increase in demand of energy from alternative sources such as deployment of rare earth metals. This also contributes to the growth of the rare earth metal market.

Top Companies:

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 (Germany),
Tasman Metals Ltd. (Canada),
Greenland Minerals and Energy Ltd. (Australia),
Avalon Advanced Materials Inc. (Canada)
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Scope of the Report:

This study provides an overview of the global rare earth metal market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Rare Earth Metals Market by its type, application and region.

By Type

Lanthanum
Cerium
Neodymium
Samarium
Europium
Others

By End-use

Magnets
Metals Alloys
Polishing
Catalysts
Others

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By Region

North America
Asia Pacific
Europe
Rest of the World

Regional Update:

Asia-Pacific region is expected to dominate the market due to the increase in demand of rare earth metals from electronic and automotive industries. Country such as China also supports the growth in the region. China is the largest consumer of rare earth metals. The abundance of such metals in the region encourages foreign manufacturers to set up their manufacturing plants in China.

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