iCrowdNewswire Nov 2, 202012:32 PM ET
Wiseguyreports.Com Adds “Rare Earths -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2025” To Its Research Database
Rare earths are a group of 17 elements that include all the lanthanoids (15 elements with atomic numbers between 57 and 71), plus yttrium and scandium. These elements have similar chemical structures, which confer on them unique mechanical, chemical, metallurgical, optical, catalytic, nuclear,magnetic and abrasive properties.
These materials started becoming popular in the advanced materials industry in the 1960s, and since then, the number of applications for rare earths has increased significantly. The world’s largest rare earth metal deposits occur in the form of bastnäsite and monazite and are located in China and the U.S. Since 1965 to the mid-1980s, Mountain Pass in California, U.S., was a leading source of rare earth elements (REE). From the mid-1980s, production of REE in China grew dramatically, and now China controls more than 90% of the global supply of rare earth minerals. Today, these elements are found in many advanced products within the following sectors: mechanical/metallurgical; glass and ceramics; electronics, optics and optoelectronics; chemical; energy; life sciences; sensors and instrumentation; and consumer.
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This study provides an updated and comprehensive review of these materials and their applications and sources. It also outlines current technical issues and the latest technological developments
This study provides an updated and comprehensive review of these materials and their applications and sources. It also outlines current technical issues and the latest technological developments.
As shown in the Summary Table, the global market for rare earths, in terms of volume, increased from REDACTED metric tons (t) of equivalent rare earth oxides (REOs) in 2019 to REDACTED t in 2023.
The global market, in volume terms, for rare earth usage should reach 300.6 million metric tons by 2023 growing from 206.6 million metric tons in 2019, CAGR of 9.8% for the forecast period of 2019 to 2023.
The largest segment of the rare earth market is the mechanical/metallurgical sector, where rare earths are primarily used for the fabrication of permanent magnets. The mechanical/metallurgical sector is estimated to account for REDACTED of total REO consumption in 2019.
Additional key fields of application are within the glass and ceramics; energy; chemical; and electronics, optics and optoelectronics sectors, which combined account for REDACTED of total REO consumption. Other sectors (such as life sciences, sensors and instrumentation, and consumer) currently account for a combined share of REDACTED.
Growth in the consumption of rare earths is projected to gain momentum during the next five years despite the moderate rate, as users continue to adopt more efficient manufacturing processes and make use of substitute products to reduce their dependence on China. Given the fact that China is currently the main supplier of rare earths, users are also waiting for new players to gear up production or enter the market. Increased demand for rare earths during the next five years will be driven primarily by the mechanical/metallurgical, chemical and energy sectors.
This report provides an updated review of rare earth materials, sources, pricing and production processes and identifies current and emerging applications for these materials.
WGR Research delineates the current market status for rare earths, defines trends and presents growth forecasts for the next five years. Supply and sourcing issues, including the latest developments, are also discussed.
The rare earth market is analyzed based on material type and application, and it is expressed as rare earth consumption (in metric tons [t]) and revenues (in $ millions).
A detailed U.S. patent analysis provides further insight regarding market and technological developments.
More specifically, the market analysis conducted by WGR Research for this report is divided into seven sections.
In the first section (Chapter 3), an introduction to the topic and a historical review of rare earth technology are provided, including an outline of recent events. In this section, current and emerging applications for these materials are also identified and divided by sector (e.g., metallurgical/mechanical, chemical, energy and electronics).
The second section (Chapter 4) outlines the latest process developments and improvements related to rare earth production and ends with a summary of global production by country.
The third section (Chapter 5) provides a detailed analysis of the geographical distribution of rare earth sources, discussing the major rare earth mining activities in each country, including supplying an updated assessment of world reserves, a status report on the most important mining projects and global production forecasts.
Past, present and future price trends are presented and discussed in the fourth section (Chapter 6).
Chapter 7 provides a global market analysis of rare earths. Global demand for rare earths is presented by industry/application and by element, with actual data for the years 2019 and estimated data for 2023 Global rare earth revenues by industry are also provided. This analysis of the current rare earth market is followed by a detailed presentation of market growth trends based on industry growth and technological trends. The fifth section concludes by providing projected demand for rare earths within each segment, together with forecast compound annual growth rates (CAGRs) for 2019 through 2023.
The sixth section (Chapter 8) of the study, which covers global industry structure, lists rare earth suppliers and descriptions of their products. The analysis includes a description of the geographical distribution of these firms and an evaluation of other key industry players. Detailed company profiles of the top players are also provided.
The seventh and final section (Chapter 9) includes an extensive U.S. patent analysis, with a summary of patents related to rare earth materials, processes and applications issued in 2019 Patent analysis is performed by region, country, assignee, patent category, application and material type.
– 70 data tables and 41 additional tables
– An overview of the global market for rare earth elements and description of its current applications
– Analyses of global market trends, with data corresponding to market size for 2019, estimates from 2020 to 2022, and projections of CAGRs through 2023
– Details about rare earth compounds and green technology and market share analysis for each of the application
– Insights into government initiatives across the geographies, regulatory framework, political implications and environmental and health regulations
– Coverage of novel technologies, R&D progress, market forecast and recent activities in the rare earth element technology
– Details of mergers & acquisitions, joint ventures, collaborations and agreements and other key market strategies
– Market share analysis of the key companies of the industry, and their detailed company profiles, including Aluminum Corp. of China, Arnold Magnetic Technologies, Gansu Rare Earth Group, Hitachi Metals Ltd., Indian Rare Earths Ltd., Mitsui Kinzoku, Rare Element Resources Ltd. and Solvay
AGC SEIMI CHEMICAL
ALKANE RESOURCES LTD.
ALUMINUM CORP. OF CHINA
ARNOLD MAGNETIC TECHNOLOGIES
AVALON ADVANCED MATERIALS INC.
CHINA NORTHERN RARE EARTH HI-TECH CO., LTD.
CHINA RARE EARTH HOLDINGS
GANSU RARE EARTH GROUP
GANZHOU RARE EARTH GROUP
GREENLAND MINERALS LTD.
HEXI INDUSTRIAL PARK
HITACHI METALS LTD.
HUDSON RESOURCES INC.
INDIAN RARE EARTHS
IRTYSH RARE EARTHS
NAMIBIA CRITICAL METALS INC.
NORTHERN MINERALS LTD.
RAINBOW RARE EARTHS
RARE ELEMENT RESOURCES LTD.
SUMMIT ATOM RARE EARTH COMPANY
UCORE RARE METALS INC.
Ph: +1-646-845-9349 (Us)
Ph: +44 208 133 9349 (Uk)
Keywords: Rare Earths, Rare Earths Market, Rare Earths Industry, Rare Earths Market Size, Rare Earths market Share, Rare Earths Market 2020