Rare-Earth Metals Market size worth USD 14.24 Billion, Globally, by 2030 at 14.9% CAGR: Verified Market Research®

5 September 2023

The Global Rare-Earth Metals Market is projected to grow at a CAGR of 14.9% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 5.37 Billion in 2022 and is expected to reach USD 14.24 Billion by the end of the forecast period.

Rare-Earth Metals Market Set to Thrive Amidst Environmental Challenges: Key Players and Growth Drivers

The global Rare-Earth Metals market is poised for significant growth, driven by a unique blend of market drivers and a dynamic outlook. Rare-Earth Metals, a group of 17 metals with similar properties, characterized by a silvery-white appearance and exceptional magnetic properties, have carved out a vital niche in industries ranging from automotive to electronics. A recent market research report explores the current landscape, key drivers, and major players influencing this burgeoning sector.

Rare-Earth Metals Market Drivers:

  • Exceptional Properties: Rare-Earth Metals' exceptional magnetic properties and versatility have positioned them as indispensable components across diverse industries.
  • Technological Advancements: Continuous technological innovations have expanded the applications of Rare-Earth Metals, further bolstering Rare-Earth Metals Market demand.
  • Green and Eco-Friendly Energy: Increasing global demand for green and eco-friendly energy sources has accelerated the utilization of Rare-Earth Metals, especially in wind turbines and electric vehicles,
  • Consumer Electronics Boom: The proliferation of electronic devices, including smartphones, speaker systems, and hard disc drives, has led to a surge in demand for Rare-Earth Metals due to their strength-to-size ratio.
  • Disposable Income Growth: Rising disposable incomes have driven consumer demand for cutting-edge innovations and gadgets, indirectly benefiting the Rare-Earth Metals market.

Rare-Earth Metals Market Outlook:

The Rare-Earth Metals market is expected to witness robust growth in the coming years, particularly within the medical equipment manufacturing sector, as heightened research and development investments in healthcare drive the demand for these metals. However, the market's trajectory is not without challenges.

Environmental Concerns: The extraction of Rare-Earth Metals often takes place in regions with lax environmental and social regulations, resulting in environmental degradation, human rights violations, and resource contamination. The oversupply of these metals can infiltrate ecosystems, posing toxicity risks. Additionally, the extraction process involving potent acids can lead to increased water acidity, endangering aquatic ecosystems. Mismanagement of these metals can also result in the generation of radioactive tailings, introducing further hazards.

Key Players:

Prominent players in the Rare-Earth Metals market include:

  • Aluminum Corporation of China Ltd
  • ARAFURA RESOURCES
  • Avalon Advanced Materials Inc.
  • Minmetals Land Limited
  • China Nonferrous Metal Industry's Foreign Engineering and Construction Company Ltd.
  • Caeneus Minerals Ltd
  • Eutectix
  • Galaxy Resources Limited
  • Iluka Resources Limited
  • International Ferro Metals Limited

These key players are anticipated to play a pivotal role in shaping the future of the Rare-Earth Metals market through strategic initiatives, innovations, and sustainable practices.

In conclusion, the Rare-Earth Metals market is on a growth trajectory, propelled by technological advancements, increasing demand for eco-friendly energy sources, and the proliferation of electronic devices. However, environmental concerns remain a significant challenge. As key players in the industry continue to innovate and adopt sustainable practices, the Rare-Earth Metals market is poised for a promising future.

To get market data, market insights, financial statements and a comprehensive analysis of the Global Rare-Earth Metals Market, please Contact Verified Market Research®.

Based on the research, Verified Market Research® has segmented the global Rare-Earth Metals Market into Product Type, Application, And Geography.

  • Rare-Earth Metals Market, by Product Type
    • Cerium Oxide
    • Lanthanum Oxide
    • Neodymium Oxide
    • Yttrium Oxide
    • Praseodymium oxide
    • Samarium Oxide
    • Gadolinium Oxide
    • Dysprosium Oxide
    • Terbium Oxide
    • Europium Oxide
    • Other Oxides
  • Rare-Earth Metals Market, by Application
    • Permanent Magnets
    • Metal Alloys
    • Glass Polishing
    • Glass Additives
    • Catalysts
    • Phosphors
    • Ceramics
    • Others
  • Rare-Earth Metals Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Browse Related Reports:

Zinc Oxide Market By Process (Indirect (French) Process, Direct (American) Process), By End-use (Rubber, Ceramics, Agriculture), By Geography, And Forecast

Cerium Oxide Nanoparticles Market By Form (Dispersed, Powdered), By Application (Catalyst, Biomedical), By Geography, And Forecast

Styrene Oxide Market By Derivatives (Polystyrene, Epoxy Resin, SBR), By Application (Agriculture, Pharmaceutical, Consumer Goods), By Geography, And Forecast

Rare Earth Metal Scintillator Market By Product (Sodium Iodide (NaI), Cesium Iodide (CsI), Lutetium Oxyorthosilicate (LSO) and Lutetium-yttrium Oxyorthosilicate (LYSO), Bismuth Germanate Oxide (BGO), By Application (Large Enterprises, SMEs), By Geography, And Forecast

5 Leading Solid Oxide Fuel Cells generating energy by oxidizing fuel

Visualize Rare-Earth Metals Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research® is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research® provides advanced analytical research solutions while offering information-enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us

Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/

 

Source: prnewswire.com