Rare Earth Metals Market Key Highlights:
- Market Size (2024): USD 655 Million
- Projected Market Size (2034): USD 1,714 Million
- CAGR (2024-2034): 10.1%
Pricing Analysis:
- Price Growth
- Regional Variations
Volume Analysis:
Import-Export Data
- Major Importers
- Major Exporters
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Price by Manufacturer
- Examination of pricing strategies adopted by various manufacturers.
Rare Earth Metals Market Definition
Rare earth metals (REE) are a set of 17 elements from the periodic table. They are an essential component in the production of more than 200 products with a wide range of applications, such as cellular telephones, computer hard drives, electric hybrid vehicles, and flat-screen monitors and televisions. The expansion of the market is observed due to the accelerating force towards electric vehicles and the development of renewable energy technologies.
The application of the rare earth metals market is rapidly increasing in the national security, energy independence, environmental future, and economic growth. Recently, the United States and India announced their partnership in mineral supply chain cooperation, both nations vowed to “expand and diversify” the supply routes and leverage complementary strengths.
In contrast to its utilisation in green and emerging technologies, it causes environmental damage during the extraction process of REE. The environmental damages include a large amount of toxic waste, and contamination of air, water, and soil. The annual production of REE in China creates about 10 million tons of wastewater. China is the largest producer in the rare earth metals market with over one-third of the world’s reserves. To deal with this issue, the economic recycling of REE requires a broader infrastructure in the coming future. This setup will allow the reusing of more materials in waste products than now.
According to the International Energy Agency, the demand for rare earth elements is anticipated to project 3-7 times the current level by 2040. In October 2024, Serra Verde, a Brazil-focused REE company secured $150 million of investment from Denham Capital and the Energy and Mineral Groups which will be used in the operational enhancement and long-term growth initiatives.
Rare Earth Metals Market Segmentation:
By Type
- Pr-Nd
- La-Ce
- La
- Ce
- Pr
- Nd
- Others
By Application
- Metallurgy
- Rare Earth Permanent Magnet Material
- Hydrogen Storage Material
- Others
Rare Earth Metals Market Companies:
- Beifang Rare Earth
- Integral Materials Investment Vietnam
- Chenguang Rare Earths New Material
- Sunlux Rare Metal
- Grirem Advanced Materials
- Baotou Xinye New Materials
- Ganzhou Rare Earth Metals
- Jiangtong Rare Earth
- Xiamen Tungsten
- Shenghe Resources
- Yiyang Hongyuan Rare Earth
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