The global Rare Metals market was valued at US$ 10660 million in 2020 and it is expected to reach US$ 19040 million by the end of 2027, growing at a CAGR of 8.2% during 2021-2027.
A rare-earth element (REE) or rare-earth metal (REM), as defined by IUPAC, is one of a set of seventeen chemical elements in the periodic table, specifically the fifteen lanthanides, as well as scandium and yttrium. Scandium and yttrium are considered rare-earth elements because they tend to occur in the same ore deposits as the lanthanides and exhibit similar chemical properties. For the same set of mineralogical, chemical, physical (especially electron shell configuration), and related reasons, a broader definition of rare earth elements including the actinides is encountered in some cases. Thorium is a significant component of monazite and other important rare earth minerals, and uranium and decay products are found in others. Both series of elements begin on the periodic table in group 3 under yttrium and scandium.
Growing demand for magnets in automobiles, and energy generation will majorly contribute to the growth of global rare earth metals market over the forecast period. The demand for rare earth magnets is majorly increasing by their consumption in electric and hybrid vehicles, and wind turbines. Increasing focus on utilizing clean and renewable energy is giving a substantial pressure on the electricity providers, to generate energy through renewable sources, which in turn will show a positive impact on the growth of this market.
Global Rare Metals Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Rare Metals Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Iluka Resources Limited, Lynas Corporation, Ltd., Greenland Minerals and Energy Ltd., Northern Minerals Limited, Alkane Resources Ltd, Rising Nonferrous Metals Co., Ltd, Arafura Resources Ltd., Canada Rare Earth Corporation, China Minmetals Rare Earth Co., Ltd, Indian Rare Earths Limited, Neo Performance Materials Inc., Avalon Rare Metals, Great Western Minerals Group Ltd. and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Find more details at: https://www.themarketreports.com/report/global-rare-metals-market-research-report
Segment by Type
Segment by Application
Table of Content:
1 Rare Metals Market Overview
2 Market Competition by Manufacturers
3 Production and Capacity by Region
4 Global Rare Metals Consumption by Region
5 Production, Revenue, Price Trend by Type
6 Consumption Analysis by Application
7 Key Companies Profiled
8 Rare Metals Manufacturing Cost Analysis
9 Marketing Channel, Distributors and Customers
10 Market Dynamics
11 Production and Supply Forecast
12 Consumption and Demand Forecast
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta