30 January, 2019: Rare
Earth Metals Market are a set of seventeen elements that exhibit
similar properties and belong to the actinide and lanthanide series. The whole
fifteen elements of the lanthanide series and yttrium and scandium together
make up these elements. Few common elements include Lanthanum, Praseodymium,
Cerium, and Neodymium among others and account for over 70.0% of global rare
earth metal consumption. Rare earth metals has its applications in various high
technology products such as TVs, nuclear batteries, miniature, numerous medical
devices, permanent magnets and rechargeable batteries for hybrid cars and wind
turbines, tablet computers, advanced military technology, laser repeaters, and
superconductors.
Additionally, they are also
used as catalysts in petroleum refining & automotive and as pigments in
ceramics and glass. Metals such as Neodymium are widely used in the
manufacturing of permanent magnets. This is projected to directly impact the
demand for neodymium which is one of the maximum consumed rare earth metal.
Additionally, the developing automobile industry is anticipated to enhance the
demand for magnets, in turn, are projected to drive rare earth metals market
demand. Another major factor driving the rare earth metals market is the
increasing use of these elements as a metal catalyst. Lanthanum and Cerium are
widely used as catalyst in petroleum and metallurgical refining process. Hence,
it expected to significantly increase the demand for lanthanum and cerium which
has accounted for over 50.0 % of global rare earth metal consumption in 2012.
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Despite the vast application
scope for these metals, the market faces significant restraint in the form of
depleting reserves and unavailability of raw material. In the recent past, over
90.0 % of these elements were extracted in China, and this has led to rising
supple demand gap in several other parts of the world. The expected depleting
prevailing reserves of rare earth metal include dysprosium and neodymium since
the consumption is projected to increase drastically over the forecast period
owing to increasing consumption by end users such as electrical vehicles and
the wind turbines industry. Furthermore, the environmental threats of mining
have enforced several countries such as China to impose a ban on extreme mining
to restrain exploitation of resources.
The major rare earth metals
include Lanthanum, Yttrium, Dysprosium, Cerium, Praseodymium, Neodymium and
Gadolinium. Cerium was the maximum consumed metal, accounting for over 35.0 %
of global rare earth market consumption in recent past. Cerium is extensively
used as a rare earth metal catalyst in refining and metallurgy process. The
rising industrialization in emerging economies is anticipated to fuel the
demand for cerium over the next eight years. Lanthanum was recorded as the
second highest consumed metal with global consumption of more than 40 kilo tons
in recent past. It is also used in a variety of refining and metallurgical
activities. Neodymium is one of the most significant rare earth metals and has
its application in permanent magnets. The demand for permanent magnets is
expected to grow significantly owing to its increasing use in electronic and
automobile application.
Metallurgy, magnets, glass,
polishing, and catalyst are main applications for the rare earth metals market.
Magnets were the biggest application segment for this market. The rising use of
magnets in automotive and wind turbine is expected to fuel the sales of these
metals. Catalyst and metallurgy were the largest application markets for these
metals accounting for over 35.0 % of the revenue in recent past. Asia Pacific is anticipated to be account for
major market share over the forecast period mainly due to the growing awareness
regarding its industrial advantages and presence of rich natural resource
reserves. China constitutes more than 90% rare earth metals manufacturing, thus
creating a huge demand and supply gap in the sector. Hence, creating new
opportunities for emerging manufacturers that are anticipated to cater the
growing end-user demand from electric vehicle industry coupled with wind
turbine industry.
North America and Europe are
anticipated to witness significant growth over the next eight years owing to
the presence of high reserves of rare earth metals and rising demand from
end-user industries. Particularly the US, Germany, France, the UK, and Italy
are projected to account for highest growth in the region majorly due to
growing demand for big 5 elements and rising R&D endeavors to enhance
quality and properties. The Middle East & Africa is projected to see
significant growth by 2024 mainly owing to increasing urbanization,
globalization, and industrialization. The market has huge potential in this
region primarily owing to growing economic development, and rising purchasing
power parity. Molycorp Inc. and China
Northern rare Earth Group High-Tech Co Ltd account for major market share and
presently considered as largest companies manufacturing rare earth metals. Few
other market vendors include Canada rare Earths Ltd, China rare Earth Holdings,
Alkane, Avalon, Arafura, Lynas Corporation Limited and Great Western Mineral
Group.
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Market Segment:
Geographically, this report is segmented into several key Regions, with
production, consumption, revenue (million USD), market share and growth rate of
Rare Earth Metals in these regions, from 2013 to 2025 (forecast), covering
• North America
• Europe
• China
• Japan
• Southeast Asia
• India
Global Rare Earth Metals market competition by top manufacturers, with
production, price, revenue (value) and market share for each manufacturer; the
top players including
• Beifang Rare Earth
• Integral Materials
Investment Vietnam
• Chenguang Rare Earths New
Material
• Sunlux Rare Metal
• Other
On the basis of product, this report displays the production, revenue,
price, market share and growth rate of each type, primarily split into
• Single Rare Earth Metal
• Mixed Rare Earth Metal
On the basis of the end users/applications, this report focuses on the
status and outlook for major applications/end users, consumption (sales),
market share and growth rate for each application, including
• Metallurgy
• Rare Earth Permanent Magnet
Material
• Hydrogen Storage Material
• Other
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Major Table Of
Contents:
1. Introduction
2. Executive Summary
3. Market Analysis
4. Rare Earth Metals Market Analysis By Regulatory
5. Rare Earth Metals Market Analysis By Service Type
6. Rare Earth Metals Market Analysis By Equipment Type
7. Rare Earth Metals Market Analysis By Service Contract
8. Rare Earth Metals Market Analysis By Service Provider
9. Rare Earth Metals Market Analysis By End-User
10. Rare Earth Metals Market Analysis By Geography
11. Competitive Landscape Of The Rare Earth Metals
Companies
12. Company Profiles Of The Rare Earth Metals Industry
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