Global Rare Earth Metals Market Outlook Report 2022: A $15.47 Billion Market by 2030

DUBLIN, Feb. 1, 2023 /PRNewswire/ — The “Rare Earth Metals Market Outlook by Type, Application – Industry Analysis and Growth Forecast to 2030” report has been added to’s offering.Research and Markets Logo In 2021, the rare earth metals market was worth around $7,063.9 million, which is projected to touch $15,473.3 million by 2030, growing at a 9.1% CAGR from 2021 to 2030. In the coming years, Europe is predicted to become the second-fastest-growing market after APAC , because European countries hold a significant share in rare earth metal imports. Key Opportunity in Rare Earth Metals Market Several factors are driving the rare earth metals market, such as the growing use of neodymium magnets in MRI machines to image the internal anatomy without any radiation. Furthermore, government and private organizations are investing in the sector. Furthermore, the demand for these elements is driven by their various applications in defense equipment, such as night-vision glasses, communication equipment, stealth technology, and precision-guided weapons. Defense spending was 2.4% of the global GDP in 2020, indicating a considerable demand for diverse military equipment. Furthermore, the demand for rare earth elements will be fueled by the growing manufacturing of consumer durables in developing nations. For example, in India, HP has begun manufacturing laptops with the assistance of the government’s Make in India initiative. The company, which holds an around 35% share of the market, has planned to expand its product line. Rare Earth Metal Demand in APAC Is Predicted To Grow at Highest CAGR The APAC rare earth metals market is expected to grow at a CAGR of more than 9% in the coming years. China has the largest stock of these elements, and it is also their largest producer and exporter, accounting for more than 60% of the global output. Moreover, the market continues to develop owing to the increasing automobile production and growing construction industry. Story continues Magnets Category Holds Largest Share Magnets hold around 30% share in the rare earth metals market due to the snowballing demand for these elements in electronics, including speakers, headphones , and sensors. Dysprosium and cerium are extremely magnetic and used in the production of lasers, computers, turbine generators, commercial lights, energy-efficient automobiles, and electric motors. Similarly, catalysts hold the second-largest share in the market. The primary function of these compounds as catalysts is to store, release, and absorb oxygen. Furthermore, they are used in air pollution control systems, e-polishing of optical glass, and electronic gadgets’ illuminated displays. Companies Engaged in Numerous Strategic Developments to Be More Competitive In the past, Ucore reported that the RapidSX Rare Earth Separation Technology has had a Successful independent evaluation.Source Certain International and USA Rare Earth recently started a partnership to produce a transparent and efficient vital mineral supply chain.Key Topics Covered:Chapter 1. Research Background1.1 Research Objectives1.2 Market Definition1.3 Analysis Period1.4 Market Data Reporting Unit1.5 Market Size Breakdown by Segment1.6 Key StakeholdersChapter 2. Research Methodology2.1 Secondary Research2.2 Primary Research2.3 Market Size Estimation2.4 Data Triangulation2.5 Currency Conversion RatesChapter 3. Executive SummaryChapter 4. Market IndicatorsChapter 5. Definition of Market Segments5.1 By Type5.1.1 Cerium5.1.2 Neodymium5.1.3 Praseodymium5.1.4 Lanthanum5.1.5 Dysprosium5.1.6 Terbium5.1.7 Promethium5.1.8 Yttrium & Scandium5.1.9 Others5.2 By Application5.2.1 Catalysts5.2.2 Ceramics5.2.3 Phosphors5.2.4 Glass and Polishing5.2.5 Metallurgy5.2.6 Magnets5.2.7 OthersChapter6.IndustryDynamics Outlook6.1 MarketDynamics .1.1 Trends6.1.1.1 Increase in demand for semiconductors6.1.2 Drivers6.1.2.1 Rising demand for rare earth metal magnets for technology-driven products6.1.2.2 Increasing need for catalysts6.1.3 Impact Analysis of Drivers on Market Forecast6.1.4 Restraints6.1.4.1 Illegal mining6.1.4.2 Effects on the environment6.1.5 Impact Analysis of Restraints on Market Forecast6.2 Impact of COVID-196.3 Value Chain Analysis6.4 Porter’s Five Forces AnalysisChapter 7. Global Market Size and Forecast7.1 Overview7 .2 Market Revenue, by Type (2017-2030)7.3 Market Volume, by Type (2017-2030)7.4 Market Revenue, by Application (2017-2030)7.5 Market Revenue, by Region (2017-2030)7.6 Market Volume, by Region (2017-2030)Companies CoveredEnergy Fuels Inc.Iluka Resources LimitedAustralian Strategic Materials Ltd.Neo Performance Materials Inc.MP Materials Corp.American Rare Earths Ltd.Ucore Rare Metals Inc.Mitsubishi Corporation Rtm Japan Ltd.Shin-Etsu Chemical Co. Ltd.Lynas Rare Earths Ltd.Medallion Resources LTD.For more information About this report visit is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Media Contact: Laura Wood | +353-1-481-1716 | press@researchandmarkets.netLogo: original content: outlook-report-2022-a-15-47-billion-market-by-2030—increase-in-demand-for-semiconductors-bodes-well-for-the-sector-301736562.htmlSOURCE Research and Markets

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