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.
Rare Earth Element Market Dynamics:
The term “rare earth elements” refers to a group of seventeen elements identified in the earth’s crust that have similar chemical and physical properties. Cerium, neodymium, erbium, holmium, lanthanum, praseodymium, yttrium, and dysprosium are examples of common rare earth elements. These components have numerous benefits, including increased electrical conductivity, enhanced magnetic, and weight reduction. As a result, rare earth elements are employed in a variety of industries, including automotive, transportation, power generation, building, 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
Cerium was the most popular element by metal in 2022, accounting for xx% of total volume. During the projection period, the increased popularity of hybrid vehicles is expected to raise rare earth demand. The volume of praseodymium is predicted to expand at a CAGR of 6.4 percent between 2023 and 2029. It is utilised in aviation engines as an alloying agent with magnesium to create high-strength metals. The demand for flights grows in tandem with the number of passengers from around the world. In February 2017, GE Aviation, a division of General Electric, promised USD 12.3 billion to boost its aircraft engine production capacity. During the projected period, this is expected to increase praseodymium demand.
By way of example, In terms of volume and money, the magnet was the most popular application segment in 2022. Examples include computer hard drives, linear actuators, servo motors, speakers, and sensors. Increasing demand for magnets in autos, turbines, and consumer electronics is likely to drive up rare earth element utilisation over the projection period. Ceramic application revenue is predicted to grow at a CAGR of 7.0 percent from 2023 to 2029. In the ceramics sector, yttrium, lanthanum, cerium, neodymium, and praseodymium are frequently utilised in applications such as tiles, electronics, and engineering. Ceramic tile output climbed by 2.2 percent between 2016 and 2017, according to data provided by the Ceramic World Web.
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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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