The Global Rare Earth Metal Market is Expected to Reach an Estimated $13 Billion by 2030
The Global Rare Earth Metal Market is Expected to Reach an Estimated $13 Billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global rare earth metal market looks promising with opportunities in the permanent magnet, catalysts, glass polishing, phosphors, ceramics, metal alloy, and glass additive markets. The global rare earth metal market is expected to reach an estimated $13 billion by 2030 from $6 billion in 2023 at a CAGR of 11.6% from 2023 to 2030. The major drivers for this market are rising demand for high-tech products and clean energy solutions, growing investment in exploration & mining activities, and increasing use of this material in various end use industries, electronics, renewable energy, automotive, aerospace, and medical.
In this market, lanthanum, cerium, praseodymium, neodymium, samarium, europium, gadolinium, and terbium are the major segments of rare earth metal market by type.
Lucintel forecasts that neodymium will remain the largest segment over the forecast period.
Within this market, permanent magnet is expected to witness the highest growth.
APAC will remain the largest region over the forecast period.
Lynas Rare Earths, Australian Strategic Materials, Arafura Rare Earths, China Rare Earth, Avalon Advanced Materials, Bataou HEFA Rare Earth, copyright Rare Earth, Northern Minerals, MP Materials, and Shenghe Resources are the major suppliers in the rare earth metal market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cast visit Lucintel’s Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056