A worldwide Rare Earth Metal market research report gives most appropriate and specific information to the decision makers in the Rare Earth Metal industry which saves their time and result in excellent output. Market analysis and market segmentation has been carried out in terms of markets, geographic scope, years considered for the study, currency and pricing, research methodology, primary interviews with key opinion leaders, DBMR market position grid, DBMR market challenge matrix, secondary sources, and assumptions. The information covered in the large scale Rare Earth Metal report not only aids businesses in taking sound and proficient decisions but also helps decide the advertising, promotion, marketing and sales strategy more gainfully.

The consistent Rare Earth Metal market report assists in finding out the likely market for a new product to be launched and the most pertinent method for the distribution of certain product. With this market document; information about many market related factors can be retrieved by using actionable market insights and comprehensive market analysis. Furthermore, the report also displays data on key players, major collaborations, merger & acquisitions along with trending innovation and business policies. What is more, emerging product trends, major drivers, challenges and opportunities in the market are evaluated accurately while generating Rare Earth Metal market research report.

View Detailed Report” https://www.databridgemarketresearch.com/reports/global-rare-earth-metal-market

Rare earth metals, also known as rare earth elements, are a group of chemically similar elements that include metals such as lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium, scandium, and yttrium. Rare earth metals have become important in modern industries because of their unique properties and applications.

Data Bridge Market Research analyzes that the global rare earth metal market, which was USD 6.82 billion in 2022, would rocket up to USD 15.88 billion by 2030, and is expected to undergo a CAGR of 11.15% during the forecast period of 2023 to 2030. “Neodymium” dominates the type segment of the market owing to its extensive usage as magnets in applications such as electric vehicle motors, wind turbines, and various electronic devices.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Market Definition

Rare earth metals are similar metallic elements that have unique properties and are essential components in various technologies. They are used in different industries, including electronics, automotive, renewable energy, defense, and aerospace. The rise in demand for clean energy across the globe acts as one of the major factors driving the market growth. In addition, the increase in the demand for these products in the manufacturing of magnets and catalysts for the automotive industry and high usage in the production of batteries for electric vehicles is expected to further drive market growth.

Opportunity

• Recycling and recovery technologies

There are various upcoming technologies for the recovery and recycling of rare earth metals from waste products. From such products, they can be removed and used for another potential application.

Recent Development

• In September 2022, Solvay, a global chemical company, announced plans to expand its rare earth metal operations in La Rochelle, France, to establish a major hub for rare earth magnets in Europe. The investment aims to serve the fast-growing markets of electric vehicles, clean energy, and electronics.

Some of the major players operating in the global rare earth metal market are:

• Minmetals Rare Earth Co., Ltd. (China)
• Alkane Resources Ltd (Australia)
• ARAFURA RESOURCES (Australia)
• Lynas Corporation Ltd (Australia)
• China Rare Earth Holdings Limited (China)
• Avalon Advanced Materials Inc. (Canada)
• IREL(INDIA) LIMITED (India)
• Greenland Minerals Ltd. (Australia)
• NEO (Canada)
• Rare Element Resources Ltd. (U.S.)
• Frontier Rare Earths Limited (Canada)
• Canada Rare Earth Corporation (Canada)
• Iluka Resources Limited (Australia)
• Northern Minerals (Australia)
• Krakatoa Resources Limited (Australia)
• Ucore Rare Metals Inc. (U.S.)
• Namibia Critical Metals Inc. (Namibia)

Global Rare Earth Metal Market Scope

The global rare earth metal market is segmented into two notable segments based on element and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Element

• Cerium
• Neodymium
• Lanthanum
• Dysprosium
• Terbium
• Erbium
• Europium
• Gadolinium
• Holmium
• Lutetium
• Praseodymium
• Promethium
• Samarium
• Thulium
• Ytterbium
• Yttrium
• Scandium
• Others

Application

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

Rare Earth Metal Market Regional Analysis/Insights

The global rare earth metal market is analyzed and market size insights and trends are provided by element and application as referenced above. The countries covered in this market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa.  

North America dominates the global rare earth metal market due to the expansion of the automotive industry and the rise in consumer electronics and nuclear energy industries within the region.

Asia-Pacific is expected to be the fastest growing market during the forecast period of 2023 to 2030 due to an increase in the application of rare earth in magnets for manufacturing batteries in electric vehicles and the polishing of television glass in the region.

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About Data Bridge Market Research (DBMR):

Data Bridge Market Research Pvt Ltd is a multinational management consulting firm with offices in India and Canada. As an innovative and neoteric market analysis and advisory company with unmatched durability level and advanced approaches. We are committed to uncover the best consumer prospects and to foster useful knowledge for your company to succeed in the market.

Data Bridge Market Research is a result of sheer wisdom and practice that was conceived and built-in Pune in the year 2015. The company came into existence from the healthcare department with far fewer employees intending to cover the whole market while providing the best class analysis. Later, the company widened its departments, as well as expands their reach by opening a new office in Gurugram location in the year 2018, where a team of highly qualified personnel joins hands for the growth of the company. “Even in the tough times of COVID-19 where the Virus slowed down everything around the world, the dedicated Team of Data Bridge Market Research worked round the clock to provide quality and support to our client base, which also tells about the excellence in our sleeve.”

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