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.
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Rare Earth Element Market Scope and Methodology:
The research provides a thorough understanding of the Rare Earth Element industry, highlights major competitors and their market positioning, and provides an overview of the competitive landscape. It also talks about recent product developments and market trends in technology. For the benefit of businesses, newcomers, and industry participants in the Rare Earth Element market, comprehensive data on revenue, sales volume, and average pricing is accessible for the whole Rare Earth Element market and its segments. The examination of the Rare Earth Element industry reveals current patterns impacting growth and prospects.
Both qualitative and quantitative research are included in the study, with an emphasis on pattern identification, data interpretation, and perceptive observations. A hierarchical method is used to analyse the strategies of leading businesses in the Rare Earth Element industry, taking into account different market segments and geographical areas. Details on import/export activities, market trends, costs, and pricing are also included in the study.
Rare Earth Element Market Regional Insights
The Rare Earth Element market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific, according to regional analysis. Several areas are home to nations such as the United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Rest of Europe, China, India, Japan, Australia, and South Korea.
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Rare Earth Element Market Segmentation
by Metal
Lanthanum
Cerium
Neodymium
Praseodymium
Samarium
Europium
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
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. The Ceramic World Web reports that between 2016 and 2017, the production of ceramic tiles rose by 2.2%. During the projection period, expanding ceramic output as a result of growing building activity in developing nations is anticipated to have a favorable impact.
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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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Table of Content: Rare Earth Element Market
Part 01: Executive Summary
Part 02: Scope of the Rare Earth Element Market Report
Part 03: Global Rare Earth Element Market Landscape
Part 04: Global Rare Earth Element Market Sizing
Part 05: Global Rare Earth Element Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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 is the fastest-growing region in 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 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 different segments of 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?
- What segments are covered in the Rare Earth Element Market?
- Who are the key players in the Rare Earth Element market?
- Who are the leading companies and what are their portfolios in 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
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