Skip to main content

Rare Earth Metals Market will witness a CAGR of 8.5% between 2021 and 2026

 Increasing application of rare earth metals in several key end-use industries is anticipated to fuel their demand over the next couple of years. In addition, major sectors such as energy and automobile are exhibiting a tremendous use of rare earth metals. This, in turn, is favouring the growth of global rare earth metals market.  Moreover, consumer electronics devices such as smartphones and tablets are among the major application areas for rare earth metals. Hence, growing popularity of such electronic devices is further propelling the demand for rare earth metals. Future Market Insights (FMI) projects that the global market for rare earth metals, which is currently valued at US$ 3,257.3 Mn will witness a CAGR of 8.5% between 2016 and 2026 to reach US$ 7,362.8 Mn by the end of the forecast period.

FMI in its report titled “Rare Earth Metals Market: Global Industry Analysis and Opportunity Assessment, 2016–2026” reveals that rare earth metals are finding robust application in electric and hybrid cars. Some the inherent properties of these rare earth metals play a crucial role in developing cutting-edge technology for automobiles.

Download the sample copy of Report with table of contents and Figures @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2290

Global Rare Earth Metals Market: Key Opportunities 

The report cites that growing practice of recycling of rare earth metals is slowly overcoming the demand-supply issues as well as ensuring a steady supply of critical rare earth metals. Moreover, recycling of rare earth metals is also considered as a positive step taken towards reducing environmental degradation from mining and processing of rare earth metals. Over the past couple of years, rare earths have emerged as important resources despite being scarce and concentrated in only a few countries. 

China accounts for a notable share in terms of overall global rare earth metal reserves. At the same time, the country is also one of the largest consumers of rare earths. In 2015, China represented nearly 83% of the global rare earths output. Some of the leading players in the global rare earth metals market such as China Northern Rare Earth (Group) High-Tech Co., Ltd, Rising Nonferrous Metals Co., Ltd, Beijing Zhongke Sanhuan High-tech Co. Ltd., China Minmetals Rare Earth Co., Ltd, Jiangxi Tungsten Industry Group Co. Ltd and Aluminum Corporation of China Limited are all having their headquarters in China. Amongst others, Lynas Corporation, Ltd., Arafura Resources Ltd., and Alkane Resources Ltd. that are based in Australia also have a healthy presence in the global market. Countries such as the U.S., Australia, Russia, and Brazil, compose the remainder of the global rare earths output.

Buy this report @ https://www.futuremarketinsights.com/checkout/2290

Global Rare Earth Metals Market: Additional Highlights

  • Application of rare earths as permanent magnets is significantly high. Which is why demand for rare earths for making permanent magnets is expected to remain strong throughout the assessment period.
  • By metal type, demand for neodymium will continue to grow at an impressive rate in 2017 and beyond. In 2016, neodymium held nearly 38.4% value share of the market and expected to represent similar figures over the next couple of years.
  • Rare earth alloys as Ni-MH batteries used in hybrid electric vehicles and other appliances is also expected to register steady growth during the forecast period.

Our advisory services are aimed at helping you with specific, customized insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-2290

More from Chemicals & Materials :

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

Comments

Post a Comment

Popular posts from this blog

Frozen Foods Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Frozen Foods Market has experienced a significant transformation in recent years and continues to be a prominent and dynamic segment of the global food industry. As we move into 2033, this market remains a crucial part of modern lifestyles, offering a wide variety of convenient and preserved food options for consumers. The growth of the Frozen Foods Market is fueled by changing consumer preferences, technological innovations, and an ever-increasing demand for convenient, time-saving, and nutritious meal solutions. In 2033, the Frozen Foods Market is expected to continue its upward trajectory, as more consumers seek the benefits of frozen products. This market encompasses an extensive range of items, from frozen vegetables and fruits to ready-to-eat meals, appetizers, and desserts. The versatility and extended shelf life of frozen foods have made them an essential staple in many households. Consumers are drawn to the convenience of having quick, easy-to-prepare, and
Post a Comment
Read more

Automotive Filters Market Share and Growth Factors Impact Analysis 2029

 The global automotive filters market is expected to experience significant growth over the forecast period, due to the increasing demand for advanced automotive systems and the rising demand for fuel-efficient and eco-friendly vehicles. Automotive filters are used to remove contaminants, such as dust, dirt, and debris, from the air, oil, and fuel in a vehicle. The market is segmented based on type, vehicle type, and region. Based on type, the market is divided into air filters, oil filters, fuel filters, and others. The air filter segment is expected to dominate the market, due to the increasing demand for advanced air filtration systems in vehicles. Based on vehicle type, the market is classified into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment is expected to dominate the market, due to the increasing demand for passenger cars and the increasing adoption of advanced filtration systems in passenger cars. Geographi
Post a Comment
Read more

Iris Biometrics Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Iris Biometrics Market stands as a testament to the ever-evolving landscape of biometric technology, offering a unique and highly secure method of identity verification and authentication. The iris, with its intricate and individualistic patterns, has captured the attention of both security experts and technology developers as a reliable means of confirming one's identity. This market has gained prominence across various industries, ranging from border control and law enforcement to access control systems in government institutions, corporate offices, and even consumer devices. The market's growth is fueled by the increasing need for robust identity verification solutions in a world where security breaches and identity theft are becoming more prevalent. Unlike traditional authentication methods such as passwords and PINs, iris biometrics offer a high level of security and accuracy, as the iris pattern is virtually impossible to replicate. The technology prov
Post a Comment
Read more