Rare Earth Element Market is anticipated to reach US$ 9.8 Bn. by 2027 from US$ 5.3 Bn. in 2020 at a CAGR of 12.3 % during a forecast period.
Rare Earth Element Market Overview:
The market research report Rare Earth Element explores and evaluates the market’s position during the forecasted period. Focusing on fundamental and secondary drivers, market dominance, significant segments, and geographic analysis, it is a thorough body of research. Along with notable individuals, significant alliances, mergers, and acquisitions, the research also looks at contemporary innovation and corporate strategy.
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Market Scope:
We used primary and secondary research techniques to examine the Rare Earth Element Market from every angle. Our comprehension of current market dynamics, such as supply-demand imbalances, pricing trends, product preferences, and consumer behaviour, has improved as a result. After that, the data is collated and evaluated using a variety of market projections and data validation techniques. Additionally, our internal data forecasting engine projects market growth through 2029.
Segmentation:
Over the projected period, the market for rare-earth permanent magnets is anticipated to develop at the quickest rate. The rare-earth elements neodymium, praseodymium, dysprosium, terbium, and yttrium are the most frequently utilised in permanent magnets. These metals have unique qualities like high coercivity and remanence that stop permanent magnets from losing their magnetism over time. These magnets are heavily used in the automotive industry, and this affects their demand. Rare-earth permanent magnets are used in both conventional and hybrid vehicles.
Key Players:
• Ucore Rare Metals Inc
• Arafura Resources Limited
• Alkane Resources ltd
• Lynas Corporation
• Avalon Advanced Materials, Inc.
• Canada Rare Earth Corporation
• Iluka Resources Limited
• Baotou Jinmeng Rare Earth Co
• Northern Minerals Limited
• Shin-Etsu Chemical Co. Ltd.
• China Minmetals Rare Earth Co. Ltd.
• China Northern Rare Earth (Group) High-Tech Co., Ltd.
• Iluka Resource Ltd (Australia)
• Canada Rare Earth Corporation (Canada)
• Others
Market leaders are identified using primary and secondary research, and market revenue is estimated using primary and secondary research. As part of the core research, extensive interviews with significant thought leaders and industry experts, including CEOs, marketing experts, and seasoned front-line workers, were undertaken. In-depth interviews with well-known thought leaders and industry experts, such as CEOs, seasoned front-line employees, and marketing specialists, made up primary research, while an examination of the annual and financial reports of the major manufacturers made up secondary research. In order to compare secondary data to historical data, percentage splits, market shares, growth rates, and global market breakdowns are computed using secondary data. The following players are those who are featured in this study:
Regional Analysis:
Using both qualitative and numerical data, the study examines the local market in depth. It provides an overview and forecast of the global Rare Earth Element market segment by segment. Additionally, it provides market size and forecast projections for five important regions from 2022 to 2029 , including North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The Rare Earth Element market is further segmented into regions and sectors for each area. Numerous countries are examined and expected in the research, along with current patterns and future developments in the industry.
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COVID-19 Impact Analysis on Rare Earth Element Market:
The Global Rare Earth Element Market Development Strategy post-COVID-19, which encompasses and analyses the potential of the global Rare Earth Element market and provides statistical data on market dynamics, growth factors, significant challenges, PORTER analysis, and market entry strategy analysis, opportunities, and forecasts, was thoroughly researched and analysed. The main goal of the study is to provide industrial enterprises with a strategic analysis of the impact of COVID-19. This analysis simultaneously examined the markets of significant nations and emphasised their market potential.
Key Questions Answered in the Rare Earth Element Market Report are:
- Which regions, product categories, and end users represent the global Rare Earth Element sector’s most potential high-growth opportunities?
- Which market sectors will grow the quickest, and why?
- What sectors will grow the quickest, and why?
- What are the main factors affecting the dynamics of the ## market? What are the main factors influencing and impeding the Rare Earth Element market?
- What are the business risks and hazards in the ## market?
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