According to the latest report by IMARC Group, titled “Rare Earth Elements Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global rare earth elements market size grew at a CAGR of around 7% during 2015-2020. Looking forward, IMARC Group expects the global rare earth elements market to continue its strong growth during 2021-2026. Rare earth elements (REEs), also known as rare-earth oxides, represent a group of seventeen elements that exhibit similar chemical and physical properties. Some of the commonly utilized REEs include neodymium, cerium, erbium, holmium, lanthanum, praseodymium, yttrium, dysprosium, etc. Rare earth elements offer several benefits, such as enhanced heat resistance, electrical conductivity, improved magnetism, weight reduction, etc.
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The widespread product adoption for manufacturing catalysts and magnets for motor vehicles, on account of the expanding automobile industry, is primarily driving the rare earth elements market. Additionally, the growing consumer environmental concerns towards the increasing CO2 emissions from fuel-driven automobiles are propelling the need for electric vehicles (EVs), which is further catalyzing the market growth. In line with this, the implementation of numerous stringent regulations by government bodies across countries for minimizing emissions and mandating the installation of catalytic converters in automobiles is acting as another significant growth-inducing factor. Moreover, the increasing utilization of rare earth elements in manufacturing turbines, reactors, generators, transformers, etc., owing to the rising need for advanced energy generation facilities, is also augmenting the global market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global rare earth elements market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region and type.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Lynas Corporation Ltd.
- Arafura Resources Limited
- Great Western Minerals Group Ltd.
- Avalon Advanced Materials Inc.
- Greenland Minerals Ltd
- Alkane Resources Ltd
- Neo Performance Materials
- Iluka Resource Limited
- IREL (India) Limited
- Canada Rare Earths Corporation
Breakup by Type:
- NiMH Batteries
- Auto Catalysts
- Diesel Engines
- Fluid Cracking Catalyst
- Polishing Powders
Breakup by Region:
- Japan & Northeast Asia
- United States
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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