Rare earth metals are essential components for applications spanning electronics, optical displays, magnetic media and catalysis. Their prices have experienced dramatic increases since 2011, when China reduced export quotas.
As costs increase, manufacturers seek new sources to meet revenue targets, often by sourcing materials from lower-cost economies. Unfortunately, this approach can be risky.
Rare Earth Metals market is expected to experience strong growth as manufacturing activities in developing economies increase, fuelled by consumer durables like smartphones and tablets, industrial applications, nuclear energy use, as well as stringent rules on carbon discharges that increase environmental safety concerns drive an increase in renewable energy sources that use rare earth elements for power generation and batteries.
This report offers an in-depth study of the global Rare Earth Metals market from 2017-2028. This analysis highlights its key drivers, challenges, opportunities and barriers for growth while profiling leading players like Minmetals Rare Earth Co. Ltd, Lynas Corporation Ltd Alkane Resources Limited Arafura Resources Greenland Minerals Ltd Northern Minerals Ltd among others.
The report includes a Competitive Strategic Window section which describes an ideal or favorable match between vendor capabilities and opportunities for market expansion over the forecast period. Stratview Research's analysis highlights mergers & acquisitions, geographic expansion and research & development strategies as possible strategies to increase business growth prospects. They employ rigorous primary and secondary research methodologies that utilize data validation processes for high-quality insights. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, investor presentations, journals and white papers were consulted, in addition to over 10 extensive primary interviews conducted with key market stakeholders.
Rare Earth Metals Market can be divided into categories including type, application and region. Neodymium is predicted to experience robust growth due to its rising use in green-energy products like electric vehicles (EVs). Soaring production of these vehicles across the U.S. combined with surging adoption of smart LED lamps and consumer electronics are driving demand for neodymium-containing consumer electronics is driving this growth trend.
Magnets dominate the global rare earth elements market due to their wide-ranging applications in industrial motors, turbine generators, electric vehicles and computer disks. Computer disks, commercial lights and magnetic sensors also require these metals. Furthermore, cerium is commonly used to manufacture aluminium alloys which in turn are utilized by electronic device manufacturers for production purposes.
The report profiles leading vendors operating in the global Rare Earth Metals Market and provides an in-depth comparative analysis of their business strategies, product portfolio, revenue generation, and other key parameters. A competitive strategic window offers insight into future prospects of vendors by detailing mergers and acquisitions, geographical expansion plans, new product launches and initiatives taken by them to increase market potential. Key players included are Shin-Etsu Chemical Co. Ltd, Canada Rare Earth Corporation, China Minmetals Rare Earth Co. Ltd China Northern Rare Earth (Group) High Tech Co. Ltd Iluka Resources Ltd Molycorp Inc and Lynas Corporation
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Rare Earth Metals Market Drivers Multiple factors are propelling the rare earth metals market forward, such as companies' pursuit of sustainable energy solutions that reduce environmental impacts while offering efficiency. This has lead to an increase in magnet demand used for producing batteries for electric cars and other devices.
Demand continues to soar, necessitating new sources of supply; however, finding suitable mining locations and production techniques - such as deep sea mining or extracting minerals from abandoned mine wastewater - may prove challenging.
China holds the world's largest reserves and production of rare earth elements, but recently has reduced exports, leading to concerns over its dominance and increasing the need for raw materials from other countries.
There are various new mining projects underway around the world, such as one owned by Lynas in Western Australia to mine rare earth minerals contained in fossilized lava flows. Additional plans exist in India and Brazil where metals may be hidden - see Projects below for more details.
Successful implementation of new projects relies on their ability to rapidly expand processing and refining capabilities post-mining, competing on cost with Chinese magnet-making and processing facilities. Africa could play a critical role here, using its resources strategically in order to form strong trade partnerships that strengthen critical minerals value chains in Africa.
Rare earth metals are an indispensable resource in high-tech manufacturing, featuring unique properties that enable their use in magnetic hard disk drives, linear actuators, servo motors, speakers and headphones, catalytic converters to reduce vehicle exhaust emissions and more. Their prices can often be affected by political and economic events; for instance, in 2011 when China restricted exports in order to protect domestic reserves sent prices soaring; bold solutions were pursued such as opening the Amazon rainforest for mining purposes or mining resources from space; most valuable rare earths include neodymium and dysprosium which are both used as magnets -
Demand for metals is expected to increase worldwide as industrialization, construction and building activities in developing economies increase, along with stringent environmental regulations and rising reliance on non-conventional energy sources - factors which are driving market expansion.
This report offers extensive insights on the global rare earth metals market from 2017-2028, covering various perspectives such as technology trends, regulatory frameworks and other key factors impacting it. Furthermore, this study highlights opportunities in this niche market so stakeholders can make more informed business decisions. In-depth analyses are also provided of leading players operating within it and their strategies.