Attributing to the emerging electronics’ consumer demand across the globe, rare earth metal market will experience huge capital investment and overwhelming profit in the foreseen future as evaluated by the IndustryARC’s expertise. According to the report analysis, the rare earth metals market had a healthy global market size of $9,249 million in the year 2018. The global market demand for rare earth metals stood at a CAGR of 13.20% during the forecast period of 2019-2025.
The report is titled “Rare Earth Metals Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2019-2024”. The analysis extends exponential factors for rare earth metals market growth, trends, and opportunities for the industrialists.
Global Rare Earth Metals Market: Leading Segments
APAC region contributes as the largest rare earth metals market around the world with China as the primary source for these rare earth metals, accounting for 80% of its total annual production globally. As per the report, APAC held a regional share of 90%. The most abundant element found in APAC region, REE has a high demand from green technology, automotive and electronic industry being applied to wind turbines, hybrid cars, smartphones, computers and television, and various others. Being used in a technologically advanced society, REE holds a leading place in the global market for its massive demand and overwhelming characteristics. With higher market opportunities, the application CAGR of rare earth metals will grow at 10% during the period of 2019-2025.
Global Rare Earth Metals Market: Disruptive Trends
Control Rods in Nuclear reactor
Certain rare earth elements (REE) are known for their strong radioactive isotopes during spontaneous fission or nuclear bombardments. REE such as Europium and lanthanum are better neutron absorbers owing to their wide usage in nuclear reactors by scientists as control rods.
Permanent Magnet in Green Technology
Environment-friendly technologies are a boost to every industrial sector with high demand in the global market. Utilizing REE to enhance the green technology such as offshore wind energy, and hybrid vehicles incorporate less exhaustion of non-renewable resources reducing harmful emissions. Neodymium is readily outpacing other metals for application as the permanent magnet in wind turbines, electronic motors boosting overall performance and outcome with least capital investment. The metal increases the efficiency of smaller electronics and devices such as loudspeakers, computer hard drives, smartphones, batteries, television, and many others when used as a magnet.
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Application as Optical lenses and Glass
Rare earth oxides have been one of the popular components in optical and glass industry. Technological advancement in the optics world has been made possible by the diverse range of REE supplied throughout the world. Innovations including fiber lasers, optical filters, optical amplifiers, imaging lenses, and others are notable among the progressivity of rare earth metals market in this sector. These elements also find a place in glass polishing compounds and in achromatic lenses yielding high efficiency and better image quality.
Atomic Clocks Enhancing GPS App
GPS clocks are considered for the precision of time. Ytterbium is one of the REE which is utilized as a measurement for the passage of time in atomic clocks where the atom oscillates to give accurate time measurement. Due to its higher mass and less nuclear spin, ytterbium has the technical advantage of enhancing the accuracy of the GPS App. The metal is also useful in monitoring severe calamities such as earthquakes and underground explosion.
Strengthens Steel in Construction Sites
Steel manufacturing is a costly affair and emits a large quantity of pollution in the surrounding. Technological advancement provides a solution by combining REO and steel to generate modified steel. This metallurgical alloy is comparatively durable and cost-effective than common steel resulting in its high demand from the construction companies in building robust structures boosting the global rare earth metal market.
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What can you expect from the report?
The Rare Earth Metals Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Rare Earth Metals Market Size by Product Categories & Application
2. Rare Earth Metals Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Rare Earth Metals Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Rare Earth Metals Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Rare Earth Metals Market Strategic Analysis
18. Rare Earth Metals Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Rare Earth Metals Market Revenue and Volume Analysis
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