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Rare Earth Elements Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 160 Pages
SKU # FOB19224287

Description

Rare Earth Elements Market



Growth Factors of Rare Earth Elements Market

The rare earth elements market size was valued at USD 3.39 billion in 2023, and the market is now projected to grow from USD 3.74 billion in 2024 to USD 8.14 billion by 2032, exhibiting a CAGR of 10.2% during the forecast period of 2024-2032.

The COVID-19 outbreak significantly disrupted the rare earth elements market growth and consequently imposed supply limitations to industries including automotive and electronics that rely on these minerals to make alloys. Cars and electronics, such as infotainment systems and permanent magnetic attractions in automobiles and other accessories reduced during the period. On the other hand, new orders from manufacturing ventilators and electric vehicles have improved from 2.2 million units in 2019 to 3.1 million units in 2020 reducing the situation.

The growing demand for cerium, lanthanum & europium in automobile, electronics, communication technology, aerospace & wind energy sectors is expected to drive the rare earth elements market share. Cerium used in polishing display panels and magnetic disks, is in demand in electronics. Moreover using elements such as lanthanum and samarium in batteries, lasers and optical electronics.

Further, the increasing application of lithium-ion batteries across the automotive industry and consumer electronics segments also motivates the rare earth elements market’s growth. These batteries are utilized in EVs due to their high energy density, while the global stock of electric cars stood at USD 4.79 million in 2019. Lithium-ion batteries also find applications in electronics laptops and mobile phones, thus contributing to market growth.

Comprehensive Analysis of Rare Earth Elements Market

The rare earth elements market and chemicals & advanced materials industry is rising exponentially due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the metals & minerals industry. These segmentations are methodically segregated by types and by applications. The types include, Lanthanum, Cerium, Neodymium, Praseodymium, Samarium, Europium and Others. The applications include, Magnets, Metallurgy, Batteries, Polishing Agent, Glass and Ceramics, Catalyst, Phosphors and Others.

Asia Pacific led the rare earth elements market with USD 2.92 billion in 2023 and is expected to maintain dominance due to its strong consumer electronics sector. As a key manufacturing hub for automotive and electronics industries, China significantly drives regional growth. Additionally, increased industrialization and construction in China and India further boost market expansion.

The top players in the market play a crucial role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players include, Baotou Rare Earth (China), China Minmetal Rare Earth (China), Avalon Advanced Materials (Canada), IREL (India), Metall Rare Earth Limited (China), Arafura Resources (Australia), Canada Rare Earth Corporation (Canada), Lynas Corporation (Australia), Northern Minerals (Australia) and Greenland Minerals Limited (Australia). These market players provide a level-playing competitive landscape.

Segmentation Table

Global Rare Earth Elements Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 10.2% from 2024 to 2032

Historical Period 2019-2022

Unit Volume (Kiloton); Value (USD Billion)

Segmentation By Type, Application, and Region

By Type
  • Lanthanum
    • Cerium
    • Neodymium
    • Praseodymium
    • Samarium
    • Europium
    • Others
    By Application
  • Magnets
    • Metallurgy
    • Batteries
    • Polishing Agent
    • Glass and Ceramics
    • Catalysts
    • Phosphors
    • Others
    By Region
  • North America (By Type, By Application, By Country)
    • U.S.
    • Canada
    • Europe (By Type, By Application, By Country)
    • Germany
    • U.K.
    • France
    • Rest of Europe
    • Asia Pacific (By Type, By Application, By Country)
    • China
    • Japan
    • India
    • Rest of Asia Pacific
    • South America (By Type, By Application, By Country)
    • Brazil
    • Rest of South America
    • The Middle East and Africa (By Type, By Application, By Country)
    • Saudi Arabia
    • Rest of the Middle East & Africa


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    Table of Contents

    160 Pages
    1. Introduction
    1.1. Research Scope
    1.2. Market Segmentation
    1.3. Research Methodology
    1.4. Definitions and Assumptions
    2. Executive Summary
    3. Market Dynamics
    3.1. Market Drivers
    3.2. Market Restraints
    3.3. Market Opportunities
    3.4. Emerging Trends
    4. Key Insights
    4.1. Key Market Trends in the Global Market
    4.2. Key Developments: Mergers, Acquisition, Partnership, etc. .
    4.3. Latest Technological Advancement
    4.4. Insights on Regulatory Scenario
    4.5. Porters Five Forces Analysis
    4.6. Impact of COVID 19 on Global Rare Earth Elements Market
    5. Global Rare Earth Elements Market Analysis, Insights and Forecast, 2019-2032
    5.1. Key Findings / Summary
    5.2. By Type
    5.2.1. Lanthanum
    5.2.2. Cerium
    5.2.3. Neodymium
    5.2.4. Praseodymium
    5.2.5. Samarium
    5.2.6. Europium
    5.2.7. Others
    5.3. By Application
    5.3.1. Magnets
    5.3.2. Metallurgy
    5.3.3. Batteries
    5.3.4. Polishing Agent
    5.3.5. Glass and Ceramics
    5.3.6. Catalysts
    5.3.7. Phosphors
    5.3.8. Others
    5.4. By Region
    5.4.1. North America
    5.4.2. Europe
    5.4.3. Asia Pacific
    5.4.4. South America
    5.4.5. Middle East & Africa
    6. North America Rare Earth Elements Market Analysis, Insights and Forecast, 2019-2032
    6.1. Key Findings / Summary
    6.2. By Type
    6.2.1. Lanthanum
    6.2.2. Cerium
    6.2.3. Neodymium
    6.2.4. Praseodymium
    6.2.5. Samarium
    6.2.6. Europium
    6.2.7. Others
    6.3. By Application
    6.3.1. Magnets
    6.3.2. Metallurgy
    6.3.3. Batteries
    6.3.4. Polishing Agent
    6.3.5. Glass and Ceramics
    6.3.6. Catalysts
    6.3.7. Phosphors
    6.3.8. Others
    6.4. By Country
    6.4.1. U.S.
    6.4.2. Canada
    7. Europe Rare Earth Elements Market Analysis, Insights and Forecast, 2019-2032
    7.1. Key Findings / Summary
    7.2. By Type
    7.2.1. Lanthanum
    7.2.2. Cerium
    7.2.3. Neodymium
    7.2.4. Praseodymium
    7.2.5. Samarium
    7.2.6. Europium
    7.2.7. Others
    7.3. By Application
    7.3.1. Magnets
    7.3.2. Metallurgy
    7.3.3. Batteries
    7.3.4. Polishing Agent
    7.3.5. Glass and Ceramics
    7.3.6. Catalysts
    7.3.7. Phosphors
    7.3.8. Others
    7.4. By Country
    7.4.1. Germany
    7.4.2. France
    7.4.3. U.K.
    7.4.4. Rest of Europe
    8. Asia-Pacific Rare Earth Elements Market Analysis, Insights and Forecast, 2019-2032
    8.1. Key Findings / Summary
    8.2. By Type
    8.2.1. Lanthanum
    8.2.2. Cerium
    8.2.3. Neodymium
    8.2.4. Praseodymium
    8.2.5. Samarium
    8.2.6. Europium
    8.2.7. Others
    8.3. By Application
    8.3.1. Magnets
    8.3.2. Metallurgy
    8.3.3. Batteries
    8.3.4. Polishing Agent
    8.3.5. Glass and Ceramics
    8.3.6. Catalysts
    8.3.7. Phosphors
    8.3.8. Others
    8.4. By Country
    8.4.1. China
    8.4.2. Japan
    8.4.3. India
    8.4.4. Rest of Asia-Pacific
    9. South America Rare Earth Elements Market Analysis, Insights and Forecast, 2019-2032
    9.1. Key Findings / Summary
    9.2. By Type
    9.2.1. Lanthanum
    9.2.2. Cerium
    9.2.3. Neodymium
    9.2.4. Praseodymium
    9.2.5. Samarium
    9.2.6. Europium
    9.2.7. Others
    9.3. By Application
    9.3.1. Magnets
    9.3.2. Metallurgy
    9.3.3. Batteries
    9.3.4. Polishing Agent
    9.3.5. Glass and Ceramics
    9.3.6. Catalysts
    9.3.7. Phosphors
    9.3.8. Others
    9.4. By Country
    9.4.1. Brazil
    9.4.2. Rest of South America
    10. Middle East & Africa Rare Earth Elements Market Analysis, Insights and Forecast, 2019-2032
    10.1. Key Findings / Summary
    10.2. By Type
    10.2.1. Lanthanum
    10.2.2. Cerium
    10.2.3. Neodymium
    10.2.4. Praseodymium
    10.2.5. Samarium
    10.2.6. Europium
    10.2.7. Others
    10.3. By Application
    10.3.1. Magnets
    10.3.2. Metallurgy
    10.3.3. Batteries
    10.3.4. Polishing Agent
    10.3.5. Glass and Ceramics
    10.3.6. Catalysts
    10.3.7. Phosphors
    10.3.8. Others
    10.4. By Country
    10.4.1. Saudi Arabia
    10.4.2. Rest of the Middle East & Africa
    11. Competitive Landscape
    11.1. Market Share/Ranking Analysis, By Key Manufacturers
    11.2. Company Profiles
    11.2.1. Baotou Rare Earth
    11.2.1.1. Overview
    11.2.1.2. Description
    11.2.1.3. Product Portfolio
    11.2.1.4. Financials (Data as available in public domain and/or on paid databases)
    11.2.1.5. Recent DevelopHouseholdts
    11.2.2. China Minmetal Rare Earth
    11.2.2.1. Overview
    11.2.2.2. Description
    11.2.2.3. Product Portfolio
    11.2.2.4. Financials (Data as available in public domain and/or on paid databases)
    11.2.2.5. Recent DevelopHouseholdts
    11.2.3. Avalon Advanced Materials
    11.2.3.1. Overview
    11.2.3.2. Description
    11.2.3.3. Product Portfolio
    11.2.3.4. Financials (Data as available in public domain and/or on paid databases)
    11.2.3.5. Recent DevelopHouseholdts
    11.2.4. IREL
    11.2.4.1. Overview
    11.2.4.2. Description
    11.2.4.3. Product Portfolio
    11.2.4.4. Financials (Data as available in public domain and/or on paid databases)
    11.2.4.5. Recent DevelopHouseholdts
    11.2.5. Metall Rare Earth Limited
    11.2.5.1. Overview
    11.2.5.2. Description
    11.2.5.3. Product Portfolio
    11.2.5.4. Financials (Data as available in public domain and/or on paid databases)
    11.2.5.5. Recent DevelopHouseholdts
    11.2.6. Arafura Resources
    11.2.6.1. Overview
    11.2.6.2. Description
    11.2.6.3. Product Portfolio
    11.2.6.4. Financials (Data as available in public domain and/or on paid databases)
    11.2.6.5. Recent DevelopHouseholdts
    11.2.7. Canada Rare Earth Corporation
    11.2.7.1. Overview
    11.2.7.2. Description
    11.2.7.3. Product Portfolio
    11.2.7.4. Financials (Data as available in public domain and/or on paid databases)
    11.2.7.5. Recent DevelopHouseholdts
    11.2.8. Northern Minerals
    11.2.8.1. Overview
    11.2.8.2. Description
    11.2.8.3. Product Portfolio
    11.2.8.4. Financials (Data as available in public domain and/or on paid databases)
    11.2.8.5. Recent DevelopHouseholdts
    11.2.9. Greenland Minerals Limited
    11.2.9.1. Overview
    11.2.9.2. Description
    11.2.9.3. Product Portfolio
    11.2.9.4. Financials (Data as available in public domain and/or on paid databases)
    11.2.9.5. Recent DevelopHouseholdts
    12. Strategic Recommendations
    13.

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