Rare Earth Metals Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Metal (Lanthanum, Cerium, Neodymium, Praseodymium, Samarium, Europium, Others); Application (Magnets, Metal Alloys, Batteries, Polishing Agents, Catalysts, Phosphors, Others); and Region/Country
The global rare earth metals market is expected to cross the market valuation of US$ 10 billion by 2027 expanding at a reasonable CAGR of more than 10% during the forecast period (2021-2027). Rare earth metals are extracted from their ores and unlike other goods they are not sold in the open market thereby tracking their price is a difficult task. The rising demand for consumer electronics like laptops, smartphones, loudspeakers, headphones is a major driver for rare earth metals. Since the trend is moving towards low carbon emission as result governments and consumers are increasingly focusing on electrical vehicles. Rare earth metals are extensively used in electric as well as hybrid vehicles batteries owing to which demand for rare earth metals would increase with rising demand for electric and hybrid vehicles. For example, in 2018, the global stock of electric cars stock accounted for 3.27 Mn which increased to 4.79 Mn in 2019. Furthermore, the market is driven by the rising demand of LED, glass industry, wind turbine manufacturers, and ceramic industry where rare earth metals are widely used.
During the Covid-19 pandemic in early 2020, the majority of the countries and region witnessed a country-wide lockdown. This has impacted the overall demand for the rare earth metals market. The majority of the decline was witnessed in the industrial sector, where countries had imposed shut down of manufacturing facilities to reduce the spread of Covid-19. However, demand for rare earth metals is expected to come to normal post-2020.
Insights Presented in the Report
“Amongst Metal, Neodymium held prominent market share in 2020.”
Based on metal, the rare earth metal market is divided into lanthanum, cerium, neodymium, praseodymium, samarium, europium, and others. Neodymium held a significant market share in 2020. Since the market trend is moving towards battery electric vehicles and hybrid electric vehicles owing to low carbon footprints release therefore this would drive the market significantly. Currently, rare earth metals are extensively used as a catalyst in fluid catalytic cracking which is an important process petroleum refining process. Furthermore, the demand for consumer durables is growing robustly with growing digitalization. Owing to these factors demand for the rare earth metals market would show lucrative growth.
“Amongst Applications, Magnets held lucrative market share in 2020.”
Based on Application, the segment is categorized as magnets, metal alloys, batteries, polishing agents, catalysts, phosphors, and others. Among all, magnets held a lucrative market share owing to their high demand from manufacturers of headphones, loudspeakers, dynamos, televisions, hard drives, motors, and refrigerators. Since magnets are extensively used in consumer electronics, therefore, with an increase in market size of consumer electronics demand for magnets would grow.
“Asia Pacific represents considerable revenue share in the Global Rare Earth Metals Market.”
For a better understanding of the market adoption, the report provides detailed analysis for major regions and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. The Asia Pacific is expected to see high growth of rare earth metals owing to manufacturing companies focus on the market with rising investment in research and development coupled with favorable government policy for reducing carbon footprints and increasing foreign direct investment in developing countries like India.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive country-level analysis of the industry
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1.1. Market Definitions
1.3. Stake Holders
1.4. Currency used in Report
2.1. Research Process of the Plant-based Meat Market
2.2. Research Methodology of the Plant-based Meat Market
2.3. Forecasting Method
2.4. Respondent Profile
2.5. Main Objective of the Plant-based Meat Market Study
|5||GLOBAL RARE EARTH METALS MARKET AMID COVID-19|
|6||GLOBAL RARE EARTH METALS MARKET REVENUE, 2019-2027F|
|9.1.||North America Rare Earth Metals Market|
|9.1.3.||Rest of North America|
|9.2.||Europe Rare Earth Metals Market|
|9.2.5.||Rest of Europe|
|9.3.||Asia-Pacific Rare Earth Metals Market|
|9.4.||Rest of World|
|11||RARE EARTH METALS MARKET OPPORTUNITIES|
|12||RARE EARTH METALS MARKET TRENDS|
|13||LEGAL & REGULATORY FRAMEWORK|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|14.2.1.||Top Product Launches|
|14.2.2.||Top Business Partnerships|
|14.2.3.||Top Business Expansions, Investments and Divestitures|
|14.2.4.||Top Merger and Acquisitions|
|15||VALUE CHAIN ANALYSIS|
|16.1.||Porter’s Five Forces Analysis|
|16.1.1.||Bargaining power of Supplier|
|16.1.2.||Bargaining power of Buyer|
|16.1.4.||Availability of Substitute|
|16.1.5.||Threat of new Entrants|
|16.2.1.||Company Shares, By Revenue|
|17.2.||Alkane Resources Ltd.|
|17.3.||Arafura Resources Ltd.|
|17.4.||China Minmetals Rare Earth Co Ltd.|
|17.5.||Avalon Advanced Materials Inc.|
|17.6.||Iluka Resource Ltd.|
|17.7.||Metall Rare Earth Limited|
|17.8.||Northern Minerals Ltd.|
|17.9.||Canada Rare Earth Corporation|
|17.10.||India Rare Earths Corporation|
Analyzing the historical market, estimation of the current market, and forecasting the future market of rare earth metals were the three major steps undertaken to create and analyze its adoption across the globe. 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 rare earth metal industry. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast 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 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 Metals 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 metals market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segments included in the report are metals and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of rare earth metals globally.
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 rare earth metals. Further, we conducted factor analysis using dependent and independent variables such as the growing industrial sector, rising demand for consumer electronics products, and increasing adoption of electric vehicles. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the rare earth metals industry.
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 metals market, and market shares of each segment. 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., top-down/bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and sub-segments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of rare earth metals across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the rare earth metals in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global rare earth metals market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of metals and application.
The Main Objective of the Rare Earth Metals Market Study
The current & future market trends of global rare earth metals were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of rare earth metals in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of metals and applications
- Defined analysis of the regulatory framework for the rare earth metals industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the rare earth metals for the major countries
- Major regions/countries analyzed in the report include North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World.
- Company profiles of the rare earth metals players and the growth strategies adopted by them to sustain in the fast-growing market
Deep dive country-level analysis of the industry