Rare Earth Metals Market to Advance at CAGR of 13% during 2021-2031; TMR Study

-  Substantial use of rare earth metals in several permanent magnet applications bolstering revenue generation; rise in demand in consumer electronics and automotive industries to drive growth momentum

-  Growing production of electric vehicles propelling sales in rare earth metals market; Asia Pacific to offer vast lucrative avenues to producers

ALBANY, N.Y., Feb. 17, 2022 /PRNewswire/ -- The rare earth metals market is projected to reach valuation of US$ 42 Bn by 2031. Exponential increase in the production of consumer electronics has spurred the sales in the rare earth metals market. A wide array of use of permanent magnets is underpinning the revenue growth of the rare earth metals market.

Widespread use of rare earth metals in bevy of consumer and commercial applications including smartphones, motors, audio devices, electric vehicles, and medical equipment has fueled the revenue sales. Over the past few years, the strides in renewable energy sector have bolstered the uptake of products in the manufacture of wind turbine, propelling revenue streams in the rare earth metals market. Furthermore, market players are garnering sizable profits from the surge in demand for rare earth metals in electrical and electronics components.

Get PDF Brochure for More Insights – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=823 

Price fluctuations of rare earth metals, notably praseodymium and neodymium, across the world pose considerable challenge to producers and other companies in the value chain, assert the analysts in the TMR study. To address these concerns, observed the analysts, companies have been keenly strengthening the supply chain.

Key Findings of Rare Earth Metals Market Study

• Proliferating Use in Range of Consumer & Automotive Electronics: The use of rare earth metals in bevy of consumer and automotive components continue to generate incremental opportunities for companies in the rare earth metals market. End-use industries are utilizing the products for a slew of attractive characteristics mainly including attractive heat resistance, strong magnetism, remarkable electrical conductivity, and high luster. Their use in manufacture of light-emitting diodes (LEDs) and fiber optics has bolstered sales in the rare earth metals market.
• Production of Electric Vehicles to Spur Profitable Opportunities: The increasing trend of electrification of transportation sector has added robust growth momentum to the expansion of avenues in the rare earth metals market. The analysts note that rising production of electric vehicles has spurred the demand potential, thereby offering value-grab opportunities for producers of rare earth metals in key regional markets. The global demand for EVs will propel worldwide export and import of rare earth metals in the next few years.

Get Covid 19 Analysis: https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=823

• Consumption of Rare Earth Metals in Diverse Applications Propel Sales: Manufacturers and producers of rare earth metals are keen on gaining revenues from several applications areas. The demand for use in metalworking and glass is a case in point. Some metals continue to be used in cracking catalysts for oil and gas.

Rare Earth Metals Market: Key Drivers

• Proliferating manufacture of consumer electronics worldwide over the past several decades has led to enormous consumption of rare earth metals, note the analysts in a TMR study analyzing the evolution of the market.
• Advancements in separation and purification processes, along with the discovery of concentration of rare earth ores, are propelling profitable avenues for firms in the rare earth metals market.

Request a Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=823 

Rare Earth Metals Market: Regional Growth Dynamics

• Massive use of permanent magnets in the manufacture of automotive and consumer electronics in Asia Pacific has led the region to occupy a large share of the global rare earth metals market
• China is the leading producer of rare earth metals and also a prominent consumer wherein they are used to manufacture rare earth components. The country holds prominence across the value chain spanning from mining, refining, and processing.
• In addition to China, India, Russia, Australia, and the U.S. are expected to witness profitable opportunities during the forecast period

Rare Earth Metals Market: key Players

Some of the prominent players in the rare earth metals market are Avalon Rare Metals, Alkane Resources, Molycorp, China Rare Earth Holdings, Arafura Resources, Rare Elements Resources Ltd., and Great Western Minerals Group.

Make an Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=823

Global Rare Earth Metals Market: Segmentation

Rare Earth Metals Market, by Type

• Lanthanum
• Praseodymium
• Cerium
• Neodymium
• Samarium
• Promethium
• Europium
• Dysprosium
• Holmium
• Gadolinium
• Terbium
• Thulium
• Scandium
• Yttrium
• Erbium
• Ytterbium
• Lutetium

 Rare Earth Metals Market, by Application

• Magnets
• Catalysts
• Metallurgy
• Ceramics
• Phosphors
• Glass
• Polishing

Rare Earth Metals Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Chemicals & Materials Market:                     

Rare Earth Elements Market - https://www.transparencymarketresearch.com/rare-earth-elements-market.html 

Bleaching Earth Market - https://www.transparencymarketresearch.com/bleaching-earth-market.html 

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/rare-earths.htm

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg