New York, According to a new market research report published by Global Insight Services “Rare Earth Metals Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Rare earth metals are a set of seventeen chemical elements in the periodic table, specifically the fifteen lanthanides plus scandium and yttrium. Scandium and yttrium are considered rare earth elements because they tend to occur in the same ore deposits as the lanthanides and exhibit similar chemical properties. Rare earth metals are used in a variety of applications, including:
-Electronics: rare earth metals are used in various electronic devices, including televisions, computers, cell phones, and rechargeable batteries.
– Magnets: rare earth metals are used in magnets, which are essential for many modern technologies, including electric vehicles, wind turbines, and MRI machines.
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Key Trends
The key trends in Rare Earth Metals technology are the increasing demand for these metals and the development of new extraction and production methods.
Rare earth metals are a group of 17 chemical elements in the periodic table, including scandium and yttrium, which are used in a variety of high-tech applications. They are critical components in many of the world’s most popular consumer electronics, including smartphones, laptops, and flat-screen TVs. They are also used in a variety of other industries, such as automotive, defense, and renewable energy.
The demand for rare earth metals has been increasing rapidly in recent years due to the growing popularity of high-tech consumer electronics and the increasing use of these metals in other industries. This has led to a sharp increase in the price of rare earth metals.
Key Drivers
The key drivers of the rare earth metals market are the increasing use of rare earth metals in various industries such as automotive, electronics, and energy, and the growing demand for these metals from China.
These metals are used in a variety of applications in the automotive industry, such as in catalytic converters, electric motors, and batteries. The electronics industry is the second largest consumer of rare earth metals, accounting for around 20% of total demand. These metals are used in a variety of applications in the electronics industry, such as in flat-panel displays, computer hard drives, and magnets.
These metals are used in a variety of applications in the energy industry, such as in wind turbines, solar panels, and batteries.
Market Segments
The rare earth metals market bifurcated on the basis of metal, application, and region. On the basis of metal, it is segmented into yttrium, dysprosium, terbium, and others. By application, it is analyzed across catalysts, phosphors, ceramics, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Players
The rare earth metals market report includes players such as Lynas Corporation, Alkane Resources, Iluka Resource Ltd., Avalon Advanced Materials, Inc., Arafura Resources Ltd., Beijing Zhongke Sanhuan, Eutectix, LLC, Greenland Minerals Ltd., Ucore Rare Metals Inc., and Neo Materials.
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Reasons to buy Rare Earth Metals Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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