Rare Earth Metals market research is provided on major factors such as consumer needs and changes observed in them over time, market sales in terms of value and volume, emerging opportunities, market growth trends, factors driving this market, threats associated with them and market performance of key vendors along with key regions. This research will help you out to determine how the market will evolve, to make confident decisions to capture new opportunities. The insights of market over past 5 years and a forecast until 2021 is provided. Report also contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. Industry experts project Rare Earth Metals market to grow at a CAGR of 13.67% during the period 2017-2021.
Firstly, the Rare Earth Metals market research report provides a basic overview of the industry including definitions, market status and industry chain structure. The Rare Earth Metals market analysis is provided for the international market including development history, competitive landscape analysis, and major regions’ development status. What’s more, the Rare Earth Metals industry development trends and growth patterns are analyzed.
Rare Earth Metals Market Drivers and Trends: –
Rare Earth Metals Market Driver: – One driver in market is elevated usage in direct-drive turbines for wind energy production. Wind energy has become one of the most recognized, cost-effective, and clean solutions for generating electricity. A clean alternative to non-renewable fuels, wind energy farms provide an alternative method to generate electricity and reduce the emission of greenhouse gases. Wind energy generation is expected to be one of the fastest-growing markets in the future because of growing federal incentives for renewable energy production and easing regulations. Wind turbines involve the use of large gear boxes for generating electricity. Conventional gear-driven turbines are being replaced by direct-drive permanent magnet generators because of the latter’s efficiency and lesser downtime during maintenance. Some direct-drive turbines are as much as 25%-30% more efficient than gear-driven turbines. A typical large wind turbine generator requires nearly two tons of high-strength magnets that are usually alloys of boron, iron, and didymium metal. Each MW of turbine uses about half a ton of permanent magnet and in turn involves the use of 150-200 kg of didymium metal, which is a mixture of praseodymium, dysprosium, and neodymium.
Rare Earth Metals Market trend: – One trend in market is rise in production capacities and emergence of alternative suppliers. Lucrative trade and the growing demand for rare earth metals has resulted due to the intense evaluation of domestic reserves for exploitation and leveraging them for strategic uses by several countries. This is being encouraged by large rare earth metal consuming nations in order to leverage their supply risks. Technavio observes an increased investment in this sector in India, South Africa, Brazil, Australia, Canada, Vietnam, and Malaysia. These countries are likely to emerge as reliable alternative suppliers to China. New developments in North America (mainly Canada), Australia, and Africa are contributing to the new rare earth element resources. Japan has committed huge investments in these nations in order to reduce its import dependence on China. Most of the mines currently being developed are expected to come on-stream by 2017-2020. Therefore, Technavio expects a further drop in the supply share of China
Rare Earth Metals market potential is analysed for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, demand and present scenarios in Rare Earth Metals industry. To determine the Rare Earth Metals market size the report considers detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments Further the Rare Earth Metals market report focuses on global major leading industry players with information. Report contains vendor landscape in addition to a SWOT analysis of the key vendors operating in Rare Earth Metals market space like Alkane Resource, Arafura Resources, Avalon Advanced Materials, China Minmetals Rare Earth, Lynas Corporation and many more.
Rare earth metals comprise 17 chemical elements in the periodic table, which include fifteen elements of the lanthanide series, and scandium and yttrium. Scandium and yttrium are also considered rare earth metals as they are found in the same mineral ore deposits as the other elements of the lanthanide series. Rare earth metals have unique physical and chemical properties, which make them suitable to alloy with other metals in applications that require properties such as enhanced magnetic strength and high-temperature resistance.
Market segmentation by element type:- by element type, share by application, by light rare earth elements, by heavy rare earth elements, by other element type; Market segmentation by application: -share by application, for permanent magnets, for metal alloys, for catalysts, for polishing powder, for phosphors, for glass additives, for ceramics, for other applications ; Geographic Segmentation: – China, Rest of Asia, ROW, US
The objective of this Rare Earth Metals market research report is: –
- To provide actionable intelligence alongside the market size of various segments.
- To detail major factors influencing the market (drivers, opportunities, industry specific challenges, and other critical issues).
- To determine the geographic breakdown of the market in terms of detailed analysis and impact.
- To analyze business dimensions with an eye on individual growth trends and contribution of upcoming market segments.
- To track the competitive landscape of the market.
