Emphasis on Source (Permanent Magnet Scraps, Fluorescent Lamps, Batteries Nickel Metal Hydride, Industrial Waste, and Electronic Waste), Technology (Hydrometallurgy, Pyrometallurgy), Application (Catalysts, Glass, Polishing, Metal alloy conversion, Permanent magnets, Phosphors, Ceramics, Others) and Region/Country
The Rare Earth Metal Recycling Market was valued at 495 million in 2022 and is expected to grow at a steady rate of around 7.6 % in the forecasted period (2023-2030).
The rare earth metal recycling market is expected to witness significant growth in the coming years, driven by the increasing demand for clean energy technologies like wind turbines and electric vehicles which depend heavily on rare earth magnets. Recycling these magnets involves recycling of rare earth metals which further helps to sustainability by reducing reliance on virgin resources crucial for the green energy transition. Additionally, rare earth elements availability is limited to a finite number of resources with an uneven global distribution. So, to curb this recycling offers a way to secure a stable supply and reduce dependence on potentially unreliable external sources.
Some of the major players operating in the market are Solvay, Proterial, Ltd, REEGENERATE PTY LTD, Lynas, GanZhou QianDong Rare Earths Group, Mitsubishi Chemical Group Corporation., Nissan Motor Co., Ltd., Geomega Resources Inc., Shenghe Resources Holding Co., Ltd., and BASF SE. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst source, the batteries nickel metal hydride segment held significant share in the 2022.”
Based on source, the market is segmented into permanent magnet scraps, fluorescent lamps, batteries nickel metal hydride, industrial waste, and electronic waste. Amongst these, the batteries nickel metal hydride segment has a significant share in the rare earth metal recycling market because NiMH batteries are commonly used in applications such as portable electronics, power tools, and even some hybrid electric vehicles (HEVs) which are older than a decade. This indicates the growing waste stream of NiMH batteries as they reach their end-of-life, providing a steady feedstock for recycling. Additionally, compared to some newer battery technologies, NiMH battery recycling has been around for a longer time due to already established hydrometallurgical methods being used to extract the rare earth elements from spent batteries.
“Amongst application , the battery alloy segment held a significant growth in the market. ’’
Based on application, the market is segmented into permanent magnet, catalysts, battery alloy, metallurgy and alloys, glass polishing powder & additives, phosphors, ceramics, pigments & gazes, and others. Amongst these, the battery alloy segment has significant growth in the rare earth metal recycling market because Lithium-ion batteries has become a crucial component in electronics and electric vehicles (EVs) which further require specific rare earth elements like lithium, cobalt, and nickel for their manufacturing. As the demand for EVs and portable electronics is increasing due to which the need for these rare earth metals is also rising. Battery alloys concentrate these valuable elements which makes them a prime target for recycling.
“North America has significant share in the rare earth metal recycling market in 2022.”
North America is the region which has a well-established manufacturing sector which includes various products such as electronics, wind turbines, and electric vehicles which provides a large quantity of source materials for rare earth metal recycling. Additionally, Environmental regulations in North America region in countries such as United States are often stricter compared to other regions. This can make traditional mining less attractive and incentivize companies to explore recycling as a more sustainable alternative. Research institutions and private companies in North America are at the forefront of developing new and improved technologies for rare earth element recycling. These advancements can make the process has made recycling more efficient, cost-effective, and environmentally friendly.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Rare Earth Metal Recycling Market Covid-19 Impact
6. Global Rare Earth Metal Recycling Market Revenue, 2020-2030f
7. Market Insights By Source
8. Market Insights By Technology
9. Market Insights By Applicaton
10. Market Insights By Region
11. Rare Earth Metal Recycling Market Dynamics
12. Rare Earth Metal Recycling Market Opportunities
13. Rare Earth Metal Recycling Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Pricing Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Analyzing the historical market, estimating the current market, and forecasting the future market of the global rare earth metal recycling market were the three major steps undertaken to create and analyze the adoption of rare earth metal recycling in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global rare earth metal recycling market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the rare earth metal recycling market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the rare earth metal recycling market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report like source, technology, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the rare earth metal recycling market. Further, we conducted factor analysis using dependent and independent variables such as increasing demand for renewable energy. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the rare earth metal recycling market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global rare earth metal recycling market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global rare earth metal recycling market. data was split into several segments & sub-segments after studying various parameters and trends in the areas of vehicle type and technology in the global rare earth metal recycling market.
The main objective of the Global Rare Earth Metal Recycling Market Study
The current & future market trends of the global rare earth metal recycling market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the global rare earth metal recycling market?
Q2: What are the driving factors for the growth of the global rare earth metal recycling market?
Q3: Which segment has the largest share of the global rare earth metal recycling market by application?
Q4: Which region will dominate the global rare earth metal recycling Market?
Q5: Who are the key players operating in the global rare earth metal recycling market?
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