Home » Business, Energy & Environment, Manufacturing & Industry, Marketing & Sales, Services » Rare Earth Elements Market Will Reach $10.96 billion in 2020: Hexa Reports
“Get key Market Research Reports and Insightful Company Profiles”
According to a new study by Hexa Research, high demand for rare earth elements like cerium and lanthanum in applications like automobiles, metallurgy, phosphors, glass, etc. will drive global market growth.

Rare Earth Elements or rare earth metals are a group of seventeen elements bearing similar properties. Key elements in the group include lanthanum, praseodymium, cerium and neodymium. Rising demand for permanent magnets in electronic, wind turbine and automotive sectors will translate into high demand for neodymium. Phosphor is essential to manufacture of consumer electronic components like LCD screens and CRT displays. Elements like terbium, europium and yttrium are used in the phosphors industry.

Browse Detailed Report With TOC at:

Factors like limited reserves, strict regulatory guidelines, complicated extraction process and heavy capital deployment are likely to adversely affect market growth. Creation of elements from recycled waste is an area of opportunity for future.

China, with more than 93% of the global production, was the largest producer of neodymium in 2012. The country’s potential as a key supplier of Rare Earth Elements is likely to be hampered by stringent regulatory stipulations on indiscriminate mining activities.

Hexa Research observed that Cerium was the largest consumed Rare Earth Element in 2013. It accounted for more than 40% of the total market that year. Main applications of cerium included petroleum refining and metallurgy. Application categories of Rare Earth Elements as determined by the research are catalysts, magnets, metallurgy, glass and polishing. Permanent magnets grabbed highest market share in 2013 followed by catalysts and metallurgy. Hexa Research expects permanent magnets to experience fastest growth in the coming years.

Request A Sample copy of This Report at:

Growing end-use industries in developing Asia Pacific regions like China, India, Malaysia and South Korea will accelerate demand for the Rare Earth Elements market in the near future. Asia Pacific fetched revenues close to $3.8 billion in 2013. China was both, the largest consumer and producer of Rare Earth Elements in 2013. This will contribute to Asia Pacific experiencing the fastest growth at a CAGR of 11.5% from 2014 to 2020. Growth in automotive sector in ROW countries will also contribute to market growth. Molycorp and Inner Mongolia Baotou Steel Rare Earth HI-Tech Co. were the dominant players of the Rare Earth Elements industry in 2013.

Related Reports:

United States Cold Insulation Materials Industry 2015 Market:

United States Silica Sand Industry 2015 Market:

About Us:

Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Our Website: http://www.hexareports.com

Media Contact
Company Name: Hexa Reports
Contact Person: Ryan Shaw
Email: sales@hexareports.com
Phone: 1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California
Country: United States
Website: http://hexareports.com/report/rare-earth-elements-market/details

Comments are closed.