Rare Earth Metal Market Share: -Industry Segments, Size, Share, Growth Analysis, Demand, Key Player profile and Regional Outlook by 2023

12/feb/2020 13:30:19 Tejas Amale Contatta l'autore

Rare Earth Metal Market- Key Players:

The key players of rare earth metal market are Lynas Corporation, Ltd.( Australia), Molycorp Inc. (U.S.), Alkane Resources Ltd (Australia), Baotou Steel Rare-earth (China), Ucore Rare Metals Inc.(Canada), Tantalus Rare Earths AG (Germany), Tasman Metals Ltd. (Canada), Greenland Minerals and Energy Ltd. (Australia), Avalon Advanced Materials Inc. (Canada) and others.

Regional Analysis of Rare Earth Metal Market:

The Rare Earth Metal Market Share can be geographically segmented as North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). Asia pacific is expected to be the largest consumer and producer of global rare earth metals with the high consumption of these metals in China. North America is also expected to grow rapidly as it is a leading importer of rare earth metals from China, the largest extraction region of rare earth metals.

Market Scenario:

Rare earth elements are the set of seventeen chemical elements found in the periodic table.  These elements include europium, holmium, erbium, lanthanum, terbium and others, and are found in huge quantities in the earth’s crust, despite their name. These elements are found together in the earth’s crust and are difficult to separate from each other.

The global rare earth metals market is majorly driven by the increase in demand of rare metals such as Neodymium and Praseodymium, for the production of high power metals which are used especially in electric vehicles and wind turbines. The market is further expected to be driven by the increase in use of large number of rare earth metals in offshore wind turbines in the forecast period. The demand for electric vehicles is expected to increase with the application of strict regulations on greenhouse gas emissions, across the globe. This increase in the production of electric vehicles is expected to further drive the market for rare earth metals over the forecast period.

 

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