Rare Earth Metals Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Rare Earth Metals Market is segmented By Type (Cerium, Lanthanum, Neodymium, Praseodymium, Samarium, Gadolinium, Europium, Terbium, Dysprosium, Yttrium), By Application (Permanent Magnets, Catalysts, Metallurgy, Glass Polishing, Phosphors, Ceramics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

Report on Global Rare Earth Metals by DataM Intelligence estimates the market to grow at a CAGR of 9.0% during the forecast period 2024- 2031. Rare Earth Metals usage in innovative and technologies is on the rise. Demand from Electronic Industries in Asia Pacific is booming. Competitive rivalry intensifies with Lynas Corporation, Alkane Resources Ltd, Medallion Resources and others operating in the market.

Rare Earth Metals are a group of 17 chemical elements of the periodic table that find application in innovative and emerging technologies, thus increasing their strategic and commercial importance.

Market Scope

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Rare Earth Metals Market Dynamics and Trends

• The primary drivers for the Rare Earth Metals market include its applications in making technologies perform with reduced energy consumption and weight, improving their efficiency, durability, and thermal stability.
• For instance, Rare Earth Permanent Magnets have been used in healthcare systems like diagnostic imaging and robot-assisted surgeries.
• Rare Earth Metals used in fluid catalytic cracking in Oil and Gas fields have also enhanced demand for these metals.
• Although valuable for scientific and technological advancement, the extraction and processing of Rare Earth Metals costs are a significant barrier to entry.

Rare Earth Metals Market Segmentation Analysis

• China's significant price undercutting of costs coupled with its share of 40% of the rare earth metal reserves makes it the undisputed global market leader. China's aggressive policies like limiting rare earth exports also deter
• The market is further categorized based on Application, which includes Permanent Magnets, Auto Catalysts, Metallurgy, Glass Polishing, Phosphors, Ceramics, and Others.
• The report segments the geographies by region, which include Asia Pacific, North America, South America, Europe, and RoW.
• Based on Type, the market is segmented into Cerium, Lanthanum, Neodymium, Praseodymium, Samarium, gold price, aluminum, elementary, gallium, molybdenum Gadolinium, Europium, Terbium, Dysprosium, Yttrium, and Others. Cerium and Lanthanum lead the market share owing to their applications as Phosphors, Metallurgy, Ceramics, and Fuel Cracking Catalysts. Neodymium, Terbium, and Dysprosium are expected to occupy a higher market share in the coming years as these are used in rare earth magnets, lasers, and magnetostrictive alloys.

Global Rare Earth Metals Market Geographical Share

• Geographically, Asia Pacific leads the market share by region due to the strong presence of countries like China and India which have sizeable rare earth metals reserves and easy availability of low-cost labor. China enjoys undisputed control over the market and has been dictating market terms.
• The region will also see a higher growth rate in the coming years since export volumes to countries in the North American region are also on the rise.
• data analyses the complete scenario of the Global Rare Earth Metals market, market segmentation, geographical analysis, companies, trends, and opportunities in the market.
• The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.

Rare Earth Metals Market Companies

The report profiles the following companies, which includes Lynas Corporation, Neo Performance Materials, Inc., Arafura Resources Limited, Avalon Advanced Materials Inc., Rare Elements Resources Ltd., Greenland Minerals and Energy Ltd., Alkane Resources Ltd., Hefa Rare Earth Co. Ltd., Medallion Resources and Indian Rare Earths Limited.