Global Rare Earth Metals Market, By Metal (Cerium, Dysprosium, Erbium, Europium, Gadolinium, Holmium

Published Date: | Report Code : MT1958312

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Growing demand from end-use industry applications in developing regions and promotion of application specific grades by companies is expected to drive the rare earth metals market during the forecast period. This market has witnessed a number of key developments in terms of application specific grade developments and strategic investments in emerging regions by companies to strengthen their market position in the global market. Some of the other key factors governing the market dynamics include regulatory scenario, exchange rates, environmental constraints, and so on. All these factors are expected to have a significant impact on the dynamics of rare earth metals market during the forecast period.

There has been an increase in the consumption in manufacturing rare earth magnets, for wind turbines, electric & hybrid vehicles, and hand-held consumer electronics.

The rising demand for cleaner energy sources has, in turn, propelled the market.

Segment Analysis:

On the basis of type, it is segmented into Cerium, Dysprosium, Erbium, Europium, Gadolinium, Holmium, Lanthanum, Lutetium, Neodymium, Praseodymium, Cerium type is most widely used as its oxide is used as a catalyst in catalytic converters in automotive exhaust systems for reducing emissions.

By application, it is segregated into petrochemicals, Optical Instruments, and Catalysts. The rare earth metals are widely used in petrochemicals a major catalytic application in fluid cracking catalysts (FCC) in the oil & petroleum industry. The product is used in retaining catalyst effectiveness and is used for increasing the yield of gasoline fractions by cracking heavier oil fractions. Product used in FCC catalysts tends to be lighter ones, such as praseodymium and lanthanum.

Key Factors Impacting Market Growth:

  • Increasing demand for cleaner energy sources.

  • Rising need and usage of electricity

Regional Analysis:

The regional outlook section for rare earth metals market provides the region-wise market projections along with related market dynamics. In addition, this section provides further information about segments in the market on regional basis and country-wise outlook. Major regions considered in this report include North America, Western Europe, Asia Pacific, Middle East, Eastern Europe, and Rest of the World. North America and Western Europe have been traditional markets with sizeable demand for advanced materials from end-use industries. North America and Western Europe with an established industrial sector having substantial contribution towards respective economies are estimated to dominate overall demand by region. Some of the major industries in this region include automotive, heavy engineering, building & construction, aerospace & defense, mining, and so on. These industries are expected to register steady growth in North America and Western Europe region during the forecast period.

Asia Pacific region is estimated to register highest CAGR with strong industrial and infrastructural growth. Some of the major economies, in the region include China, India, South Korea, Japan, Australia, and so on. In addition, favourable conditions for production activities in addition to the growing market demand has attracted global companies to make strategic investments in this region. Middle East and Eastern Europe with countries including UAE, Russia, Saudi Arabia, Turkey, and Qatar are expected to be potential markets with growth of industrial sector in the region. Rest of the World consisting of South America and Africa are estimated to be emerging regions for rare earth metals market during the forecast period.

Companies Covered: Lynas Corporation, Iluka Resources Limited, Northern Minerals Limited, Arafura Resources Limited, Ucore Rare Metals Inc. and Baotou Jinmeng Rare Earth Co.

Market Segmentation:

By Metal:

  • Cerium

  • Dysprosium

  • Erbium

  • Europium

  • Gadolinium

  • Holmium

  • Lanthanum

  • Lutetium

  • Neodymium

  • Praseodymium

  • Promethium

  • Samarium

  • Scandium

  • Terbium

  • Thulium

  • Ytterbium

  • Yttrium

By Application :

  • Petrochemicals

  • Optical Instruments

  • Catalysts

By Region:

  • North America

    • By Country (US, Canada, Mexico)

    • By Metal

    • By Application

  • Western Europe:

    • By Country (Germany, UK, France, Spain, Rest of Western Europe)

    • By Metal

    • By Application

  • Eastern Europe:

    • By Country (Russia, Turkey, Rest of Eastern Europe)

    • By Metal

    • By Application

  • Asia Pacific

    • By Country (China, Japan, India, Rest of Asia Pacific)

    • By Metal

    • By Application

  • Middle East:

    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)

    • By Metal

    • By Application

  • Rest of the World

    • By Region (Latin America, Brazil, Rest of the World)

    • By Metal

    • By Application

Reasons To Buy This Report:

  • Market size estimation of the global rare earth metals market on a regional and global basis

  • The unique research design for market size estimation and forecast

  • Profiling of major companies operating in the market with key developments

  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment

  • By Sub-segment

  • By Region/Country

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