Global Rare Earth Metals Market Size, Forecasts, And Opportunities

November 5, 2021November 5, 2021 by The Business Research Company

Learn about the global rare earth metals market through The Business Research Company, which provides information on rare earth metals market size, rare earth metals market drivers and restraints, rare earth metals market players, the COVID-19 impact on the rare earth metals market, and more.

The global rare earth metals market is expected to grow from $5.22 billion in 2020 to $5.72 billion in 2021 at a compound annual growth rate (CAGR) of 9.6%. The growth of the rare earth metals market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The rare earth metals market is expected to reach $8.88 billion in 2025 at a CAGR of 11.6%.

An increase in the demand for electronics is expected to serve as a major driver of the rare earth metals market in the forecast period.

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The rare earth metals market consists of sales of rare earth metals by entities (organizations, sole traders, and partnerships) that are used as components in high technology devices in wind turbines, computer hard drives, electric car motors, solar panels, and lithium-ion batteries. Rare earth metals are a group of 17 chemical elements that are all metals and play a vital role in a clean-tech-driven economy.

Global rare earth metals market segments include:

By Product Type: Light Rare Earth Metals, Heavy Earth Metals, Others

By Metal Type: Neodymium, Yttrium, Dysprosium, Terbium, Europium, Cerium, Lanthanum, Others

By Application: Catalysts, Ceramics/Glass, Glass Polishing, Metallurgy, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the rare earth metals market in 2020.

The development of ultrathin 2D magnets is shaping the rare earth metals market, leading to new applications in computing and electronics. This ultrathin 2D magnet can operate at room temperature and can be used in computing and electronics.

TBRC’s rare earth metals market report covers:

Major Market Players: Lynas Rare Earths, Iluka Resources, Greenland Minerals, Northern Minerals, Arafura Resources limited, Neo Performance Materials, MP Materials Corp., Australian Strategic Materials Limited, Hitachi Metals Ltd, Energy Fuels Inc., Pensana Rare Earths PLC, Hastings Technology Metals Limited, Texas Mineral Resources, Shin-Etsu Chemical Co. Ltd, Showa Denko K. K., Rare Elements Resources limited, Ucore Rare Metals, Rainbow Rare Earths, RareX Limited, Leading Edge Materials Corp, and Ionic Rare Earths.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Rare Earth Metals Global Market Report 2021: COVID-19 Growth And Change to 2030 is one of a series of new reports from The Business Research Company that provides rare earth metals market overviews, analyzes and forecasts market size, share, rare earth metals market players, rare earth metals market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s rare earth metals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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