Rare Earth Metals Market research report by 2017 to 2024

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Rare Earth Metals industry analysis research and
trends report for 2017- 2024 Global Market
Insights, Inc.
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• Global Market Scenario of Metal Industry

• Rare Earth Metals Market to exceed USD 20 billion
  by 2024 according to a new research report by
  Global Market Insights, Inc.
• Rare earth metals are a group of 17 elements,
  which are found in geological deposits, and share
  similar properties. Some of the most abundant
  metals in the world are neodymium, cerium, and
  lanthanum. All the rare earth metals are
  classified into two groups, namely light rare
  earths (LREs), and heavy rare earths (HREs).
• Growing demand for magnets in automobiles, and
  energy generation will majorly contribute to the
  growth of global rare earth metals market over
  the forecast period. The demand for rare earth
  magnets is majorly increasing by their
  consumption in electric and hybrid vehicles, and
  wind turbines.
• Increasing focus on utilizing clean and renewable
  energy is giving a substantial pressure on the
  electricity providers, to generate energy through
  renewable sources, which in turn will show a
  positive impact on the growth of this market.

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• High performance of rare earth magnets at very
  high temperatures, coupled with high corrosion
  resistance will significantly help the market to
  grow at a higher rate over the forecast period.
  These factors will also increase the demand for
  rare earths in wind turbine applications, as
  other metals cannot substitute them.
• Inconsistencies in rare earth metal supply and
  demand is the significant restraint to the growth
  of global rare earth metals market over the
  forecast period. As majority of the global rare
  earth production capacity is in China, it is
  becoming difficult for the other countries to
  rely more on China, and causing huge disturbances
  in trading.
• Also, small changes in the production of rare
  earth metals, will show some bigger changes in
  the prices of these metals, as the demand for
  these metals is established globally.

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• 360 Industry Analysis

• Cerium, and lanthanum are found out to be the
  major metals in terms of volume over the forecast
  period. Growing consumption in catalytic, and
  battery applications has led the segmental market
  to grow over the forecast period. By revenue,
  neodymium had the highest market share in 2016,
  with a market share of over 30. It will dominate
  the global rare earth metals market till the end
  of projected period. Neodymium market will grow
  at a CAGR of 8.2 from 2017 to 2024.
• By applications, magnets held the dominant market
  share in terms of both volume, and revenue over
  the forecast period. This segment grows at a CAGR
  of more than 8.2 in terms of revenue, and 7.2
  in terms of market volume. Catalysts application
  segment has the second largest market share in
  terms of both volume, and revenue in the global
  rare earth metals market. In 2016, the catalysts
  application segment contributed a share of more
  than 23 share of the global rare earth metals
  market.

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• Regional Analysis

• In terms of region, the Asia Pacific region has
  the lions share of the global rare earth metals
  market. Rapid industrialization in the developing
  countries like India, and China, coupled with
  high consumption in China, due to strict
  regulations regarding clean energy production
  drives the regional rare earth metals market till
  the end of the forecast period

• Competitive Analysis

Some of the key companies in the global rare
earth metals market are Great Western Minerals,
India Rare Earth Ltd., Avalon Rare Metals, and
Canada Rare Earth Corporation among others.
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