0
U.S. (TOLL FREE)
+1 (315) 215-3225
Automative

0
U.S. (TOLL FREE)
+1 (315) 215-3225
Rare Earth Elements Market - Industry Research Report, Growth Trends and Competitive Analysis 2021-2027
Published Date: March 2021
|
Report Code: QYRE-Othe-4C401
Home | Market Reports |Business & Industrial |Metals & Mining
Rare Earth Elements Market

Rare Earth Elements Market - Industry Research Report, Growth Trends and Competitive Analysis 2021-2027

Code: QYRE-Othe-4C401
Report
March 2021
140 Pages
QYResearch
Region: Global,
Description
Table of Content
Tables & Figures

 Rare Earth Elements Market Statistics 2027

The global Rare Earth Elements market size is projected to reach USD 3757.7 million by 2026, from USD 2664.5 Million in 2020, at a CAGR of 5.9% during the forecast period 2021-2026. 

 What is the Rare Earth Elements Market Report?

Rare Earth Element is one of a set of seventeen chemical elements in the periodic table, specifically the fifteen lanthanides, as well as scandium and yttrium. Scandium and yttrium are considered rare-earth elements because they tend to occur in the same ore deposits as the lanthanides and exhibit similar chemical properties.

Rare Earth Elements Market, Report, Size, Share, Trends, Growth, Industry Analysis, Forecast 2026

 Rare Earth Elements Market Overview

It is expected that the growing demand for electric vehicles to minimize carbon-dioxide emissions would propel the growth of rare earth elements market size. Neodymium and praseodymium are majorly used for producing permanent magnets used in electric and hybrid vehicles. Neodymium magnets have an excellent coercive force and flux density. The high coerciveness and excellent flow retention capacities make it highly desirable for use in electric vehicles worldwide.

As the sales of automotive increases, the demand for catalytic converters also increases. A catalytic converter is a device that uses a catalyst to convert harmful compounds into harmless ones. The catalytic formulation consists of three key components: precious metals (platinum, palladium, rhodium), alumina, and rare-earth-based materials that enhance the catalytic activity of metals. This increasing demand for catalytic converters is expected to increase the growth of rare earth elements market size.

In petroleum refining, cerium and lanthanum catalysts are used to turn crude oil into gasoline. The catalysts are used by Fluid Catalytic Cracking (FCC) to stop metal deactivation and to stabilize the zeolite structure during crude oil conversion. This, in turn, is expected to fuel the growth of rare earth elements market size.

Based on product, the Cerium segment is expected to hold the largest rare earth elements market share during the forecast period. Cerium is used as a catalyst in catalytic converters in the automotive industry to minimize emissions. It's also present in nickel-metal hydride (NiMH) batteries. 

Based on application, the magnet segment is expected to hold the largest rare earth elements market share during the forecast period. They're used in a number of ways, including computer hard drives, linear actuators, servo motors, microphones, and sensors. 

Based on region, North America is expected to witness the highest growth during the forecast period. This rapid growth in the region is attributed to the expanding automotive industry in the region. Furthermore, consumer electronics and nuclear energy industries are also expected to boost rare earth elements demand in the region.

Scope of the Report:

Report Metric

Details

Report Name

Rare Earth Elements Market

The market size in 2020

$2664.5 Million

The revenue forecast in 2026

$3757.7 Million

Growth Rate

CAGR of 5.9% from 2020 to 2026

Base year considered

2019

Forecast period

2020-2026

Forecast units

Value (USD)

Segments covered

Type, End-User, Offerings, and Region

Market by Type

Cerium, Dysprosium, Erbium, Europium, Gadolinium, Holmium, Lanthanum, Lutetium, Neodymium, Praseodymium

Market by Applications/Enduser

Magnets, Catalysts, Metallurgy, Polishing, Glass, Phosphors, Ceramics, Other

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Rare Earth Elements Market Key Vendors

The major players that are operating in the global Rare Earth Elements market are

  • Arafura
  • Alkane Resources
  • Avalon Rare Metals
  • China Rare Earth Holdings
  • Indian Rare Earths
  • Lynas
  • Great Western Minerals
  • Greenland Minerals & Energy
  • Rare Element Resources
  • Molycorp
  • Inner Mongolia Baotou Steel Rare Earth Hi-Tech
  • Frontier Rare Earths

Rare Earth Elements Market Segments

Rare Earth Elements Market By Type

  • Cerium
  • Dysprosium
  • Erbium
  • Europium
  • Gadolinium
  • Holmium
  • Lanthanum
  • Lutetium
  • Neodymium
  • Praseodymium

Rare Earth Elements Market By Application

  • Magnets
  • Catalysts
  • Metallurgy
  • Polishing
  • Glass
  • Phosphors
  • Ceramics
  • Others

 

 

TABLE OF CONTENT
 

LIST OF TABLES & FIGURES

 

 
SELECT A FORMAT
Added to Cart

Single User

Electronic (PDF)
$4000
This license allows only one user to access the PDF.

Enterprise License

Electronic (PDF)
$8000
This license allows all the employees of an enterprise to access the PDF.
Add to Cart
Buy Now (10% Discount)
OUR CUSTOMER
SecuX Technology Inc

RELATED REPORTS

Global Butt Welding Machine Sales Market Report 2021
Global Butt Welding Machine Sales Market Report 2021

120 Pages
Type: Report
Code: QYRE-Auto-8J5658
Mon Jun 21 00:00:00 UTC 2021

Add to Cart

Global High quality Aluminium Cans Sales Market Report 2021
Global High-quality Aluminium Cans Sales Market Report 2021

120 Pages
Type: Report
Code: QYRE-Auto-8P5657
Mon Jun 21 00:00:00 UTC 2021

Add to Cart

Global Precious Metal Recovery and Refining Equipment Sales Market Report 2021
Global Precious Metal Recovery and Refining Equipment Sales Market Report 2021

120 Pages
Type: Report
Code: QYRE-Auto-6G5735
Mon Jun 21 00:00:00 UTC 2021

Add to Cart

Global Malleable Iron Fittings Sales Market Report 2021
Global Malleable Iron Fittings Sales Market Report 2021

120 Pages
Type: Report
Code: QYRE-Auto-16B5483
Fri Jun 18 00:00:00 UTC 2021

Add to Cart