Rare Earth Elements Market

1. Rare Earth Elements Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast The global rare earth elements market size is projected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising usage of rare earth elements in the permanent magnets that provide high impetus to the advanced materials and rising demand for these elements in the manufacturing units as well as automotive industry. Rare earth elements are the set of seventeen metallic elements that include the fifteen lanthanides on the periodic table along with yttrium and scandium. These rare earth elements are very important part of various high tech devices. These are used worldwide in various applications especially high tech consumer products including compute, electric & hybrid vehicles, flat screen monitors & televisions, cellular telephones, hard drives, and others. The last naturally rare earth element that is lutetium was discovered in 1907. A rare earth element is also known as rare earth oxides or rare earth metals. These metals tarnish it, when comes in the air at room temperature and also reacts with cold water to give hydroxides or liberating hydrogen. Covid-19 has majorly impacted the market at the initial stages of pandemic. Market Trends, Drivers, Restraints, and Opportunities  Rising demand from end-user industries is anticipated to boost the market growth in the coming years. Rapid growth of the automotive sector is key factor fueling the market expansion. Fluctuations in cost of the rare earth elements are estimated to impede the market growth during the forecast period.  

2.  Recycling and re-use of rare earth elements is anticipated to spur the market expansion in the coming years. R&D investment and technological advancement in rare earth elements is expected to offer significant opportunities for the market players.  Sample - https://growthmarketreports.com/request-sample/1908 Market Segment Insights Neodymium segment is projected to account for a large market share Based on elements, the global rare earth elements market is divided into neodymium, dysprosium, yttrium, cerium, lanthanum, terbium, scandium, and others. The neodymium segment is expected to constitute a key share of the market during the forecast period owing to rising use of clean energy application and its usage in high strength permanent magnets. However, the cerium segment is anticipated to expand at a rapid pace during the forecast period due to increasing demand for hybrid vehicles and usage in nickel metal hydride batteries. Phosphors segment is projected to hold a key market share On the basis of applications, the market is segmented into ceramics, glass & polish, magnets, catalysts, phosphors, metallurgy, and others. The phosphors segment is expected to represent a key share of the market in the coming years due to high usage in various applications that needs color in the in the fluorescent lamps, cathode ray tube displays, and others. On the other hand, the magnets segment is anticipated to expand at a rapid pace during the forecast period owing to rising demand for magnets in turbines, consumer electronics, and automobiles as well as in computer applications. Inquiry- https://growthmarketreports.com/enquiry-before-buying/1908 Competitive Landscape Key players competing in the global rare earth elements market include Rare Element Resources Ltd.; IIuka Resources Ltd.; Avalon Advanced Materials Inc.; Eutectix; Shin-Etsu Chemical Co., Ltd.; Lynas Corporation; Canada Rare Earth Corp.; Arafura; Molycorp; Frontier Rare Earths; and China Rare Earth Holdings. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. About Growth Market Reports: GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.

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