Rare Earth Metals Market

Global rare earth metals market is estimated to be valued at USD 5,648.83 Mn in 2024, exhibiting compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. Global rare earth metals market has witnessed significant growth in recent years due to their wide applications across several industries such as renewable energy, electric vehicles, consumer electronics and more. Rare earth metals refer to a group of 17 elements - scandium, yttrium, and the lanthanides. These are indispensable for manufacturing everything from computer hard drives and camera lenses to weaponry and wind turbines.

 Market Dynamics:

Global rare earth metals market is expected to witness moderate growth due to factors such as growing demand for rare earth permanent magnets from areas like electric vehicles and wind turbines, increasing consumption of rare earth metals in consumer electronics, and rapid industrialization. However, factors such as vulnerability in supply due to geopolitical issues, high costs associated with rare earth mining due to complex extraction and separation processes, and environmental concerns related to rare earth mining can restrain the market growth. On the other hand, ongoing research and development activities towards developing new alternatives and recycling processes of rare earth metals can present lucrative opportunities in the near future.

 Key Features of the Study:

• This report provides in-depth analysis of the global rare earth metals market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global rare earth metals market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include China Northern Rare Earth (Group) High-Tech Co., Ltd, Rising Nonferrous Metals Co., Ltd, China Minmetals Rare Earth Co., Ltd, Aluminum Corporation of China Limited, Lynas Corporation, Ltd., Beijing Zhongke Sanhuan High-tech Co. Ltd., Jiangxi Tungsten Industry Group Co. Ltd., Arafura Resources Ltd., and Alkane Resources Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global rare earth metals market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global rare earth metals market

Detailed Segmentation

• By Metal:
• • Neodymium
  • yttrium
  • Dysprosium
  • Terbium
  • Europium
  • Cerium
  • Lanthanum
• By Application:
• • Catalysts
  • Permanent Magnets
  • Metallurgy & Alloy
  • Polishing
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • China Northern Rare Earth (Group) High-Tech Co., Ltd
  • Rising Nonferrous Metals Co., Ltd
  • China Minmetals Rare Earth Co., Ltd
  • Aluminum Corporation of China Limited
  • Lynas Corporation, Ltd.
  • Beijing Zhongke Sanhuan High-tech Co. Ltd.
  • Jiangxi Tungsten Industry Group Co. Ltd.
  • Arafura Resources Ltd.
  • Alkane Resources Ltd.