Future Market Insights, Inc. presents the latest analysis

Future Market Insights Global and Consulting Pvt. Limited.

Future Market Insights Global and Consulting Pvt. Limited.

The increasing scope of rare earth metal applications in a variety of pathways, including electronics, ceramics, glass and defense, is boosting sales prospects. Growing demand from various industries, including defense, consumer goods, electronics, among others, is boosting sales prospects.

NEWARK, Del, Dec. 27, 2022 (GLOBE NEWSWIRE) — The rare earth metals market is valued at $5.6 billion as of 2023. The market is anticipated to grow at a CAGR of 10.1% during the forecast period, and by 2033, the market is expected to reach a valuation of $14.6 billion.

The growing demand for rare earth metals can be attributed to increased sales of consumer electronics. Whether smartphones or laptops. These metals are used in the speakers of these devices. In addition, the main players in the electronics sector are committed to the resistance to high temperatures offered by these metals, which allows them to function more efficiently.

In addition, the growth in electric vehicle sales is also expected to increase the demand for rare earth metals during the forecast period. This is due to the fact that rare earth metals help to miniaturize the size of the circuit, making electric vehicles run with fewer components.

In addition, rapid urbanization around the world is also expected to increase the growth of the rare earth metals market. This is due to the fact that rare earth metals are also used in the construction industry. Apart from this, rare earth metals are also used in the digitization process, which is happening at a fast pace in developing countries.

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Even the healthcare sector has seen an increase in the application of rare earth metals. These are specifically used for manufacturing MRI machines, insulin pumps, pacemakers, etc. In addition, high-strength aluminum alloys, metal halide lamps, etc. are also used as.

Additionally, most companies seek to work on the idea of ​​sustainability, which is why they are developing emission reduction plans. Therefore, these companies have started to adopt renewable energy sources. The implementation of rare earth metals supports the operation of renewable energy systems, which are expected to further increase the growth of their market.

Therefore, based on the knowledge provided by the FMI researchers, it can be inferred that “An increase in EV adoption, coupled with increased application across all sectors and a host of other factors are expected to increase the rare earth metals market share over the forecast period.”

Key takeaways:

  • The rare earth metals market is expected to rise at a CAGR of 10.1% over the period 2023-2033.

  • The rare earth metals market is valued at $5.6 billion as of 2023.

  • By 2033, the market is expected to reach a valuation of $14.6 billion.

  • Based on regional analysis, Asia Pacific is the largest rare earth metals market, with a share of nearly 70% by 2022.

  • Based on the country analysis, the China market is the largest market and is expected to grow at a CAGR of 11.6%.

  • The US market is forecast to grow at a CAGR of 7.5%.

  • The Brazil market is expected to grow at a CAGR of 5.3%.

  • India’s rare earth metals market is expected to grow at a CAGR of 10%.

  • The Japan market is expected to grow at a CAGR of 7.4%.

  • According to the app, the magnets segment is expected to have the highest market share during the forecast period, with a CAGR of 10.2%.

  • Based on metal type, the neodymium segment is expected to have the highest market share during the forecast period, growing at a CAGR of 10.8%.

Profiled companies

  • Arafura Resources

  • Rare Earth Lynas

  • alkanes resources

  • China Northern Rare Earth (Group) High-Tech Co., Ltd,

  • RISING NON-FERROUS METALS CO., LTD,

  • China Minmetals Rare Earth Co., Ltd,

  • Beijing Zhongke Sanhuan High-tech Co. Ltd.

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competitive landscape

The key players operating in the rare earth metals market are primarily focused on merging with other key players to take advantage of each other’s crucial resources. Apart from that, the market is also witnessing strategic collaborations with players from other niches.

Some of the recent developments in the rare earth metals market are:

  • In August 2022, Arafura Resources examined pathways to decarbonization and how mining, oil, and gas companies can thrive in a low-carbon world using innovative solutions and emerging cost-effective technologies.

  • In July 2022, Lynas Rare Earth was shortlisted for the prestigious WA Golden Gecko Environmental Excellence Award.

Segmentation of the rare earth metals market

By application:

  • catalysts,

  • permanent magnets,

  • Metallurgy and Alloys,

  • Polished,

  • Glass,

  • matches,

  • Ceramics,

  • Others

By type of metal:

  • neodymium,

  • Yttrium,

  • dysprosium,

  • terbium,

  • Europe,

  • wax

  • Lanthanum

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Table of Contents

1. Executive Summary

1.1. World Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Technology roadmap analysis

1.5. Analysis and Recommendations

2. Market overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market background

3.1. Market dynamics

3.1.1. drivers

3.1.2. restrictions

3.1.3. Chance

3.1.4. Trends

3.2. scenario forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Probable Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity map analysis

3.4. Product life cycle analysis

3.5. Supply Chain Analysis

C.Full TOC with report preview @ https://www.futuremarketinsights.com/reports/rare-earth-metals-market

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting and market research firm, a member of the Greater New York Chamber of Commerce, and is headquartered in Delaware, USA. We received the 2022 Clutch Leaders Award due to Due to the high customer score (4.9/5), we have been collaborating with global companies on their business transformation journey and helping them fulfill their business ambitions. 80% of the largest companies on the Forbes 1000 are our clients. We serve global clients in all leading and niche market segments in all major industries.

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