Raipur, Oct. 14, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Rare Earth Metals Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the rare earth metals market is driven by a host of factors, some of which are noted below:
- High demand for clean energy,
- Growing demand from emerging technologies such as electric vehicles, and hybrid vehicles.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Rare Earth Metals Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Material Type (Lanthanum Oxide, Cerium, Praseodymium, Neodymium, Samarium, Europium, Gadolinium, Terbium, Dysprosium, Yttrium, and Other),
- By Application Type (Permanent Magnets, Catalysts, Glass Polishing, Phosphors, Ceramics, Metal Alloy, Glass Additives, and Others),
- By Sales Channel Type (Direct Sales, Distributors),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Rare Earth Metals Market Insights
Market Trends by Material Type
The market is segmented into Lanthanum Oxide, Cerium, Praseodymium, Neodymium, Samarium, Europium, Gadolinium, Terbium, Dysprosium, Yttrium, and Others. Cerium oxide is the most dominant rare earth metal accounting for >42% of the market in 2021, followed by Lanthanum oxide with a >24% share. Cerium oxide and Lanthanum oxide are cheaper than other rare earth metals and are widely used in metal alloys, catalysts, and glass phosphors.
Market Trends by Application Type
The market is segmented into Permanent Magnets, Catalysts, Glass Polishing, Phosphors, Ceramics, Metal Alloy, Glass Additives, and Others. The top three applications (permanent magnets, metal alloys, and catalysts), together accounted for >60% of the market in 2021 and will continue to remain the dominant applications during the forecast period. Permanent magnets are likely to remain the growth engine during the forecast period driven by increasing penetration in traditional applications as well as emerging applications.
Which region offers the best opportunity and growth?
Asia-Pacific is expected to remain the largest producer and consumer of the market with a volume share of >71% in 2021. China owns the largest reserves of rare earth metals worldwide. China is both the leading producer as well as consumer of rare earth metals. The imposition of restrictions on China’s export and growing rare earth metals demand within China would create a demand-supply gap in the rare earth metals market worldwide.
The market is likely to witness significant changes in the coming years. New sources of supply are scheduled to be developed across the globe. China, which is the major producer of rare earth metals worldwide, is witnessing consolidation by state-owned enterprises. China owns the largest reserves of rare earth metals followed by Brazil. China will continue to remain the largest producer during the forecast period.
COVID-19 Impact on the Rare Earth Metals Market
The COVID-19 pandemic has positively impacted the global rare earth metals market. During the pandemic, major manufacturers used a variety of strategies to increase their market share in the broader marketplace, including product launches, product improvements, and R&D spending.
To know more about the covid-19 impact, get a free sample report, here:
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Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co Ltd.
- Molycorp Inc
- China Minmetals Rare Earth Co. Ltd
- Great Western Minerals Group Ltd.
- Alkane Resources Ltd
- Arafura Resources Ltd.
- Lynas Corp.
- Avalon Rare Metals
- Canada Rare Earth Corporation
- India Rare Earth Ltd.
What deliverables will you get in this report?
- In-depth analysis of the rare earth metals market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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