Rare Earth Element Market Overview:
Rare Earth Element Market Research provides a comprehensive overview of Rare Earth Element to provide a current understanding of the market and its features. The report also includes detailed information on forecasted statistics, significant advancements, and revenue.
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Rare Earth Element Market Scope:
The global Rare Earth Element market report provides statistics and analytical insights to give a comprehensive understanding of the market size, share, trend, growth, demand, market player and industry profile, opportunities, value chain, end-users, types, and applications. It also includes accessible opportunities in micro and macro markets for stakeholders to invest, as well as a detailed analysis of the competitive landscape and product offerings of major competitors.
The qualitative and quantitative data in the report help decision-makers identify market segments, regions, and variables that are likely to drive the Rare Earth Element market at a faster pace, as well as major opportunity areas. SWOT analysis, PESTLE analysis, and PORTER analysis have been used to provide an in-depth analysis of the Rare Earth Element market.
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Regional Analysis:
The research has been conducted on each regional Rare Earth Element market to determine its current and future growth potential. The Rare Earth Element market report covers all five regions and their country-specific distribution. Their market size and trends are also included in the Rare Earth Element report.
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Rare Earth Element Market Dynamics:
Rare earth elements are a set of seventeen elements discovered in the earth’s crust that have similar chemical and physical properties. Common rare earth elements include cerium, neodymium, erbium, holmium, lanthanum, praseodymium, yttrium, and dysprosium. High electrical conductivity, improved magnetism, and weight reduction are only a few of the advantages provided by these components. As a result, rare earth elements are used in a wide range of industries, including automobiles, transportation, power generation, construction, medical, and military applications.
Rare Earth Element Market Segmentation:
by Metal
• Lanthanum
• Cerium
• Neodymium
• Praseodymium
• Samarium
• Europium
by Application
• Permanent Magnets
• Metals Alloys
• Polishing
• Additives
• Catalysts
• Phosphors
The rising popularity of hybrid vehicles is expected to boost rare earth demand during the forecast period. From 2023 to 2029, praseodymium volume is expected to grow at a CAGR of 6.4 percent. It is used as an alloying agent with magnesium in aviation engines to make high-strength metals. As the number of passengers from all over the world increases, so does the need for flights. GE Aviation, a part of General Electric, promised USD 12.3 billion in February 2017 to increase its aircraft engine production capacity. This is expected to raise praseodymium demand during the forecast period.
By Application, The magnet was the most popular application segment in terms of volume and income in 2022. Computer hard drives, linear actuators, servo motors, speakers, and sensors are all examples of where they’re used. Rising demand for magnets in automobiles, turbines, and consumer electronics is expected to boost rare earth element utilization throughout the forecast period. Revenue for the application of ceramic is expected to expand at a CAGR of 7.0 percent from 2023 to 2029. Yttrium, lanthanum, cerium, neodymium, and praseodymium are frequently used in the ceramics industry in applications such as tiles, electronics, and engineering. According to numbers supplied by the Ceramic World Web, the output of ceramic tiles increased by 2.2 percent from 2016 to 2017. Expanding ceramic output as a result of increasing building activity in developing countries is expected to have a positive impact during the forecast period.
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Rare Earth Element Market 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
Key Questions answered in the Rare Earth Element Market Report are:
- What is the forecast period of the Rare Earth Element Market?
- What is the growth rate of the Rare Earth Element Market?
- What are the Rare Earth Element Market segments?
- Which region held the largest Rare Earth Element market share in 2022?
- What are the opportunities for the Rare Earth Element Market?
- What factors are affecting the Rare Earth Element market growth?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2023-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis of each segment and their sub-segments
- Landscape- Leading key players and other prominent key players.
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