The Rare-Earth Metals Market is projected to grow from USD 5.3 billion in 2021 to USD 9.6 billion by 2026, at a CAGR of 12.33% during the forecast period.
Browse 99
market data Tables and 43 Figures spread through 156 Pages and
in-depth TOC on "Rare-Earth
Metals Market by (Lanthanum, Cerium, Neodymium, Praseodymium, Samarium,
Europium, & Others), and Application (Permanent Magnets, Metals Alloys,
Polishing, Additives, Catalysts, Phosphors), Region – Global Forecast to
2026"
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The Neodymium Oxide segment is projected to lead
the global rare-earth metals market through 2026
Neodymium oxide is used to produce magnets which are found in most modern vehicles and aircraft as well as popular consumer electronics, such as headphones, microphones, and computer discs . It is used in high-strength permanent magnets that are also known as neodymium-iron-boron (NdFeB) magnets and are one of the strongest magnets in the world. Incresing use of Clean energy application has driven the market.
The Phosphors segment is projected to grow at the
highest CAGR during the forecast period.
The Phosphors segment, by application, is projected
to grow at the highest CAGR during the forecast period. Phosphors used in
many applications that require color in the light exhibited, namely, cathode
ray tube displays, fluorescent lamps, and other applications. The important
elements in this sector are europium, terbium, and yttrium. Phosphors are used
to convert the incident radiation into the light of designed colors. This is
based on the properties of the elements that are included in the
phosphors. The demand for rare-earth oxide phosphor products is expected
to increase, due to the government policies in US, Canada, China, among other
countries, and the European Union, where the incandescent lamps are being
replaced with fluorescent and LED lamps.
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Lynas Corporation Ltd (Lynas Corporation) is a
minerals explorer. The company offers rare earth oxides from mines. Its rare
earths are a group of chemical elements with unique magnetic, luminescent, and
electrochemical properties. Lynas Corporation’s rare earth elements includes
europium, lutetium, lanthanum, samarium, scandium, yttrium, lanthanum, cerium,
praseodymium, neodymium, dysprosium, lutetium, among others. Its products find
application across aero space, metal alloys, batteries, fibre optic technology,
solar panel, lasers and glass colourant sectors. The company operates in
Malaysia and Australia. Lynas Corporation is headquartered in East Perth West
Australia, Australia.
Arafura Resources Ltd (Arafura) is a rare-earth
metals mining and exploration company. It is involved in exploration and
development of various mineral sources including rare earths, phosphate,
uranium, iron, vanadium and gold. It primarily focuses on Nolans Rare Earths
project, which includes a proposed rare earth mine and processing operation
near Aileron, in Central Australia. The company also owns other exploration
projects including the Aileron-Reynolds project. Its rare-earth products are
used in magnetic, optical, catalytic and electronic applications in key growth
sectors, such as automotive technology, clean energy technology, and consumer
electronics. These are also used in oil refining, healthcare, lighting,
robotics, industrial, and aerospace sectors. Arafura is headquartered in Perth,
Australia.
Arafura Resources Ltd (Arafura) is a
rare-earth metals mining and exploration company. It is involved in exploration
and development of various mineral sources including rare earths, phosphate,
uranium, iron, vanadium and gold. It primarily focuses on Nolans Rare Earths
project, which includes a proposed rare earths mine and processing operation
near Aileron, in Central Australia. The company also owns other exploration
projects including the Aileron-Reynolds project. Its rare-earth products are
used in magnetic, optical, catalytic and electronic applications in key growth
sectors, such as automotive technology, clean energy technology, and consumer
electronics. These are also used in oil refining, healthcare, lighting,
robotics, industrial, and aerospace sectors. Arafura is headquartered in Perth,
Australia.
The Asia Pacific is projected to hold the largest
share in the rare-earth metals market during the forecast period
APAC is the top region in terms of total rare-earth
material consumption due to rapidly increasing demand in China, which accounts
for maximum global rare-earth consumption. It was the largest consumer of
rare-earth elements in 2019, with an estimated market revenue of over USD 5.2
billion. The region is also expected to witness the fastest-growth in terms of
consumption due to growing industrialization and extraction activities in
China.
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