21:23 | 21.04.2017
Rare Earth Metals Market – Global Assessment by Application and Forecasts from Technavio

According to the latest market study released by Technavio,
the global
rare earth metals market is expected to reach USD 12.26 billion
by 2021, growing at an impressive CAGR of more than 9%.

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Technavio has published a new report on the global rare earth metals market from 2017-2021.(Graphic: Business Wire)
This research report titled ‘Global
Rare Earth Metals Market 2017-2021’ provides an in-depth
analysis of the market in terms of revenue and emerging market trends.
The analysts have presented the various facets of the market with a
particular focus on identifying the key industry influencers.
The rising global demand for rare earth metals has resulted in sharp
increases in their prices due to a flat to negative supply growth from
the key producing region, China. In order to capitalize on this rising
demand, various companies across the world are aggressively embarking
upon mineral exploration programs.Looking for more information on this market? Request
a free sample reportTechnavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.
Technavio’s analysts categorize the global rare earth metals market into
eight major segments by technology. They are:

Permanent magnets

Metal alloys


Polishing powder


Glass additives



The top three application segments for the global rare earth metals
market are:
Global rare earth metals market for permanent magnets
The global rare earth metals market for permanent magnets comprises of
around 25.35% of the global market share. Major rare earth metals used
in this application are neodymium, praseodymium, dysprosium, gadolinium,
terbium, and samarium. The main rare earth magnets used in this context
are the SmCo magnets and the NdFeB magnets. These magnets
are widely used in military technologies including precision-guided
missiles and bombs in aircraft and warships, because of their high
thermal stability.

According to Ajay Adhikary, a lead metals
and minerals research analyst from Technavio, “China stands
as the leading consumer and supplier of NdFeB magnets with the
country being a key exporter of these magnets. Rare earth magnets are
preferred in various applications pertaining to audio components, video
components, automobiles, military gear, and communication systems
because of their light weight and high strength.”
Global rare earth metals market for metal alloys
The global rare earth metals market for metal alloys comprised of around
18.70% of the global market share in 2016. Rare earth metals are
relatively less toxic than conventional materials such as cadmium and
lead. Therefore, they preferred for use in rechargeable batteries.
La-Ni-H batteries are increasingly being used in computers and
communication applications, and could potentially replace lead acid
batteries in automobiles.

“The La-Ni-H batteries offer greater energy density,
exceptionally long life cycles and pose minimal environmental impact
upon recycling. These battery types are widely being used in hybrid
electric cars because they promise better performance while
constituting only a minor portion of the weight of the electric vehicles,”
says Ajay.
Global rare earth metals market for catalysts
The global rare earth metals market for catalysts comprised of around
16.45% of the global market share in 2016. Lanthanum-based catalysts
are used in petroleum refining while cerium-based catalysts are used in automotive
catalytic converters. The refining process involves fluid cracking
wherein catalysts play a major role in converting heavy hydrocarbons
into lighter hydrocarbon streams.

Catalytic converters, on the other hand, are emission control systems
fitted to vehicles wherein they reduce the emissions of harmful
pollutants through catalyst-aided reactions. Rare earth elements are
used as catalysts in these converters.

The top vendors highlighted by Technavio’s research analysts in this
report are:

Alkane Resources

Arafura Resources

Avalon Advanced Materials

China Minmetals Rare Earth

Lynas Corporation
Browse Related Reports:Global
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Metal Oxide Nanoparticles Market 2017-2021Become a Technavio
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informed business decisions more efficiently.About TechnavioTechnavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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