Rare-Earth Metals Market to Show Incredible Growth by 2029

mangesh

Jan 24, 2023 • 3 min read

Rare-Earth Metals Market size was valued at US$ 4.72 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 12.4% through 2021 to 2029, reaching nearly US$ 12.02 Bn. by 2029.

Rare-Earth Metals Market Overview:

The Rare-Earth Metals market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Rare-Earth Metals Market, as well as the reasons for variations in the industry’s growth between regions.

Market Scope:

Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.

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Segmentation:

On the basis of product, the Rare-Earth Metals Market is sub-segmented into Cerium, Dysprosium, Erbium, Europium, Gadolinium, Holmium, Lanthanum, Lutetium, Neodymium, Praseodymium, Promethium, Samarium, Scandium, Terbium, Thulium, Ytterbium, and Yttrium. The cerium segment held the largest market share of 42.8% in 2021. Cerium is used as a catalyst in catalytic converters in exhaust systems in the automotive sector to reduce emissions. It's also found in nickel-metal hydride (NiMH) batteries. Over the forecast period, the increased demand for hybrid vehicles is expected to have a beneficial impact on rare earth demand.

Key Players:

• Lynas Corporation
• Alkane Resources
• Arafura Resources
• China Minmetals Rare
• Avalon Advanced Materials
• Iluka Resource
• Canada Rare Earth
• Shin-Etsu Chemical Co. Ltd.
• China Northern Rare Earth
• Molycorp Inc
• Rare Element Resources
• Eutectix
• Indian Rare Earths
• Great Western Minerals
• Frontier Rare Earths.
• Greenland Minerals & Energy
• Ucore Rare Metals Inc.
• Medallion Resources Ltd

Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers’ annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.

The biggest players in the Rare-Earth Metals market are as follows:

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Regional Analysis:

Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Rare-Earth Metals market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on Rare-Earth Metals Market:

Due to a break in operations, end-user sectors where Rare-Earth Metals are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Rare-Earth Metals manufacturers, impacting the growth of the Rare-Earth Metals market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Rare-Earth Metals.

Key Questions Answered in the Rare-Earth Metals Market Report are:

In 2021, which segment held the highest proportion of the Rare-Earth Metals market?
What is the Rare-Earth Metals market’s competitive landscape?
What are the primary drivers assisting Rare-Earth Metals market growth?
Which region has the most market share in the Rare-Earth Metals market?
What will be the Rare-Earth Metals market’s CAGR throughout the projected period (2022-2027)?

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