The rare earth element market is expected to grow at a compound annual growth rate (CAGR) of 12.3% from US$ 7.50 billion in 2023 to US$ 16.90 billion by 2030.

Rare Earth Element Market Overview

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Rare Earth Element  Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Rare Earth Element  market, with forecasts outspreading to the year 2030.

Rare Earth Element Market Scope and Methodology:

The market research report Rare Earth Element  provides comprehensive details on important factors, including those anticipated to drive the industry's growth and impending obstacles. Stakeholders will have a solid understanding of the investment potential in the Rare Earth Element  market, the industry's competitive environment, and the products pushed by well-known brands. The research examines the sector's qualitative and quantitative aspects. Part of what the MMR probe looks into is a thorough analysis of the competition for the Rare Earth Element  Market.

A lengthy list of needs is included in the study, along with a detailed explanation for each. When creating the Rare Earth Element  Market, a wide range of primary and secondary information sources were taken into account, including official government documents, websites, annual reports, and expert and professional comments.

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Rare Earth Element  Market Regional Insights

In this report, the market size, growth rate, import and export by region, and other pertinent facts are all carefully examined. It is simple to comprehend the Rare Earth Element  market conditions in various nations thanks to the research's regional analysis. The Rare Earth Element  market is composed of markets in North America, Europe, South America, Asia Pacific, and the Middle East.

Rare Earth Element  Market Segmentation

by Metal

Lanthanum
Cerium
Neodymium
Praseodymium
Samarium
Europium

In 2023, cerium accounted for xx% of the total volume, making it the most popular element. The demand for rare earths is anticipated to increase during the projected period due to the growing popularity of hybrid automobiles. The volume of praseodymium is anticipated to increase at a CAGR of 6.4% between 2024 and 2030. In aviation engines, it is utilized as an alloying agent with magnesium to create high-strength metals. The demand for flights rises in tandem with the number of travelers from around the globe. In February 2017, General Electric subsidiary GE Aviation pledged USD 12.3 billion to expand its capability for producing airplane engines. During the projection period, this is anticipated to increase demand for praseodymium.

by Application

Permanent Magnets
Metals Alloys
Polishing
Additives
Catalysts
Phosphors

In terms of volume and revenue in 2023, the magnet application segment was the most widely used. Examples of their applications include speakers, sensors, servo motors, linear actuators, and computer hard drives. Throughout the projected period, increased use of rare earth elements is anticipated due to growing demand for magnets in consumer electronics, turbines, and vehicles. From 2024 to 2030, revenue from ceramic applications is anticipated to grow at a compound annual growth rate (CAGR) of 7.0 percent. In the ceramics sector, yttrium, lanthanum, cerium, neodymium, and praseodymium are commonly utilized in engineering, electronics, and tiling applications.

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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.
11. China Minmetals Rare Earth Co. Ltd.
12. China Northern Rare Earth (Group) High-Tech Co., Ltd.
13. Iluka Resource Ltd (Australia)

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Key questions answered in the Rare Earth Element  Market are:

• What is Rare Earth Element ?
• What was the Rare Earth Element  market size in 2023?
• What is the growth rate of the Rare Earth Element  Market?
• Which are the factors expected to drive the Rare Earth Element  market growth?
• What is the CAGR at which the Rare Earth Element  market will grow during the forecast period?
• What are the different segments of the Rare Earth Element  Market?
• Which is the fastest growing region in the Rare Earth Element market?
• What growth strategies are the players considering to increase their presence in Rare Earth Element ?
• What are the upcoming opportunities and trends for the Rare Earth Element  Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Rare Earth Element  Market?
• Who are the leading companies and what are their portfolios in Rare Earth Element  Market?
• What segments are covered in the Rare Earth Element  Market?
• Who are the key players in the Rare Earth Element  market?

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Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size Forecast by different segment | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• 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

About Maximize Market Research:

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