Rare Earth Element Market is anticipated to reach US$ 16.90 Bn. by 2030 from US$ 7.50 Bn. in 2023 at a CAGR of 12.3 % during a forecast period.

Rare Earth Element Market Overview:

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the Rare Earth Element Market. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The report provides the current state of the Rare Earth Element market by thorough analysis, and projections are made up to 2030.

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In-depth analysis of the market scope and research methodology for the emerging sector of Rare Earth Element Market:

The Rare Earth Element market report covers a wide range of topics that impact market dynamics, trends, opportunities, and challenges. It also includes a thorough analysis of the worldwide landscape. This comprehensive analysis also looks at how the market is divided into segments according to services category, company size, end-user sector, and geographical regions. The study also closely examines major industry participants, assessing their approaches, line of business, results, and place in the Rare Earth Element market. To give a comprehensive picture of the market environment, a thorough evaluation of macroeconomic variables, regulatory frameworks, and technical developments is also carried out.

Also, the research offers detailed insights into the dynamics of the Rare Earth Element market, including opportunities, challenges, constraints, and drivers. Using a bottom-up methodology, estimates of the size of the worldwide and regional Rare Earth Element market were developed. The study provides a thorough value chain analysis that clarifies the Rare Earth Element production process and incorporates information about distributors, consumers, and raw materials. Furthermore, the use of PORTER and PESTLE studies, in conjunction with evaluations of market attractiveness, enhances comprehension of the Rare Earth Element market on a global and micro level.

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Rare Earth Element Market Segmentation:

by Metal

Lanthanum
Cerium
Neodymium
Praseodymium
Samarium
Europium

By volume, cerium was the most widely used element in 2023. The demand for rare earths is anticipated to increase during the projected period due to the growing popularity of hybrid automobiles. The volume of praseodymium is anticipated to increase at a CAGR of 6.4% between 2024 and 2030. In aviation engines, it is utilized as an alloying agent with magnesium to create high-strength metals. The demand for flights rises in tandem with the number of travelers from around the globe. In February 2017, General Electric subsidiary GE Aviation pledged USD 12.3 billion to expand its capability for producing airplane engines. During the projection period, this is anticipated to increase demand for praseodymium.

by Application

Permanent Magnets
Metals Alloys
Polishing
Additives
Catalysts
Phosphors

In terms of volume and revenue in 2023, the magnet application segment was the most widely used. Examples of their applications include speakers, sensors, servo motors, linear actuators, and computer hard drives. Throughout the projected period, increased use of rare earth elements is anticipated due to growing demand for magnets in consumer electronics, turbines, and vehicles. From 2024 to 2030, revenue from ceramic applications is anticipated to grow at a compound annual growth rate (CAGR) of 7.0 percent. In the ceramics sector, yttrium, lanthanum, cerium, neodymium, and praseodymium are commonly utilized in engineering, electronics, and tiling applications.

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Rare Earth Element Market Key Players:

1. Ucore Rare Metals Inc
2. Arafura Resources Limited
3. Alkane Resources ltd
4. Lynas Corporation
5. Avalon Advanced Materials, Inc.
6. Canada Rare Earth Corporation
7. Iluka Resources Limited
8. Baotou Jinmeng Rare Earth Co
9. Northern Minerals Limited
10. Shin-Etsu Chemical Co. Ltd.
11. China Minmetals Rare Earth Co. Ltd.
12. China Northern Rare Earth (Group) High-Tech Co., Ltd.
13. Iluka Resource Ltd (Australia)

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Rare Earth Element Market Regional Insights :

The size and trends in the Rare Earth Element market in each of the following regions are thoroughly examined in this research: North America (which includes the United States, Canada, and Mexico); Europe (which includes France, Spain, Germany, Italy, and other European countries); Asia-Pacific (which includes China, Japan, India, Australia, South Korea, ASEAN countries, and others APAC countries); South America (which includes Argentina, Brazil, and other South American countries); and Middle East and Africa (which includes South Africa, Egypt, and other MEA countries).

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Your Ultimate Guide: Key Questions Answered in the Latest Market Report:

• What is Rare Earth Element?
• What was the Rare Earth Element market size in 2023?
• Which are the factors expected to drive the Rare Earth Element market growth?
• Who are the leading companies and what are their portfolios in Rare Earth Element Market?
• What growth strategies are the players considering to increase their presence in Rare Earth Element?
• What are the upcoming industry applications and trends for the Rare Earth Element Market?
• What will be the CAGR at which the Rare Earth Element market will grow?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Rare Earth Element Market?
• What are the different segments of the Rare Earth Element Market?
• What is the growth rate of the Rare Earth Element Market?
• What segments are covered in the Rare Earth Element Market?
• Who are the key players in the Rare Earth Element market?
• What are the key challenges and opportunities in the Rare Earth Element market?
• Which application holds the highest potential in the Rare Earth Element market?

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Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by different segment | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• Competitive landscape – Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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