DUBLIN, December 07, 2021--(BUSINESS WIRE)--The "Rare Earth Metals Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
The global rare earth metals market is expected to grow from $5.22 billion in 2020 to $5.72 billion in 2021 at a compound annual growth rate (CAGR) of 9.6%. The market is expected to reach $8.88 billion in 2025 at a CAGR of 11.6%.
The main types of products of rare earth metals are light rare earth metals, heavy earth metals, and others. The lanthanides with the lowest atomic numbers are known as light rare earth metals and include praseodymium, cerium, samarium, lanthanum, scandium, and neodymium. The different types of metals include neodymium, yttrium, dysprosium, terbium, europium, cerium, lanthanum, others and are used in magnets, catalysts, metallurgy, polishing, glass, phosphors, ceramics, others.
The rare earth metals market consists of sales of rare earth metals by entities (organizations, sole traders, and partnerships) that are used as components in high technology devices in wind turbines, computer hard drives, electric car motors, solar panels, and lithium-ion batteries. Rare earth metals are a group of 17 chemical elements that are all metals and play a vital role in a clean-tech-driven economy.
An increase in the demand for electronics is expected to serve as a major driver of the rare earth metals market in the forecast period. Rare earth metals are widely used in the manufacturing of electronic products such as cellular telephones, computer hard drives, flat-screen monitors, and televisions.
According to data by StockApps.com, a UK-based centric brokerage firm that allows users to trade online, global consumer spending in electronics is expected to reach $1.06 trillion in 2021. This will create a significant surge in demand for the rare earth metals market and thus will propel the growth of the rare earth elements.
The development of ultrathin 2D magnets is shaping the rare earth metals market, leading to new applications in computing and electronics. This ultrathin 2D magnet can operate at room temperature and can be used in computing and electronics.
For instance, in July 2021, Scientists at the Department of Energy, Lawrence Berkeley National Laboratory recently developed an ultrathin 2D magnet that is chemically stable under ambient conditions and can be used in high-density, compact spintronic memory devices.
Major players in the rare earth metals market are
Lynas Rare Earths
Arafura Resources limited
Neo Performance Materials
MP Materials Corp.
Australian Strategic Materials Limited
Hitachi Metals Ltd
Energy Fuels Inc.
Pensana Rare Earths PLC
Hastings Technology Metals Limited
Texas Mineral Resources
Shin-Etsu Chemical Co. Ltd
Showa Denko K. K.
Rare Elements Resources limited
Ucore Rare Metals
Rainbow Rare Earths
Leading Edge Materials Corp
Ionic Rare Earths
Key Topics Covered:
1. Executive Summary
2. Rare Earth Metals Market Characteristics
3. Rare Earth Metals Market Trends and Strategies
4. Impact Of COVID-19 On Rare Earth Metals
5. Rare Earth Metals Market Size and Growth
5.1. Global Rare Earth Metals Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Rare Earth Metals Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Rare Earth Metals Market Segmentation
6.1. Global Rare Earth Metals Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Light Rare Earth Metals
Heavy Earth Metals
6.2. Global Rare Earth Metals Market, Segmentation by Metal Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Rare Earth Metals Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Rare Earth Metals Market Regional and Country Analysis
7.1. Global Rare Earth Metals Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Rare Earth Metals Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/5n1p5g
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