Rare Earth Elements Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2020 - 2025

Report Code: CMR 95362 Report Format: PDF + Excel (Delivery in 48 Hrs)

Overview

Rare Earth Elements Market is forecast to reach $5.52 billion by 2025, after growing at a CAGR of 10.7% during 2020-2025. Rare earth elements are a group of seventeen chemical elements that occur together in the periodic table. Permanent magnets are the largest end-user of the rare earth elements due to which the market of rare earth elements is expected to grow during the forecast period. A neodymium magnet, made from an alloy of neodymium, boron and iron is the most widely used type of rare-earth magnet. Rare earth elements are almost used in every advanced industrial product as they are a key component in the fluid cracking catalysts.The report covers Rare Earth Elements Market size by type and Applications, Rare Earth Elements Market share by top 5 companies and also the market share by start-ups during the forecast period.

Report Coverage

The report: “Rare Earth Elements Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Rare Earth Elements Market.


Key Takeaways

  • The increasing scandium usage in aerospace applications are likely to provide opportunities for the studied market, during the forecast period.
  • Asia-Pacific dominated the global market, owing to the increasing production of rare earth metals and rising demand from industries, such as consumer electronics and others.
  • Gadolinium is expected to be driven by its increasing demand for nuclear reactors. It is used as a neutron absorber in the fresh fuel to control and regulate the reactivity of the nuclear reactor core.
  • Dysprosium is majorly used as an alloying agent in Neo permanent magnets. Neo magnets are widely used in various end-use industries including power generation, transportation, medical, aerospace, defense, and industrial.

By Type - Segment Analysis

Cerium segment held the largest share of the rare earth elements market in 2019. The growth in the automotive industry is anticipated to drive the demand for cerium, which in turn drives the rare earth elements market. Cerium is used as a catalyst in the automotive industry, catalytic converters, in exhaust systems to decrease emissions. It is also used in nickel-metal hydride batteries. The largest increases came from cerium demand in autocatalysts and polishing as well as the demand in magnets.

As per the data published by OICA, the overall sales of the automotive industry increased by 3% from 2016 to 2017. The increasing demand for automobiles enables the manufacturers to maintain the supply-demand balance, thus increasing the production. This is expected to boost the demand for catalytic converters as they are used to reduce harmful vehicle exhaust emissions, thereby propelling the utilization of rare earth elements over the forecast period. The growing demand for hybrid vehicles is expected to have a positive influence on demand for rare earth in the coming years. Despite a recent uptick, prices of cerium remain low as the element is an insignificant supply surplus.

By Application - Segment Analysis

Magnets segment held the largest share of the rare earth elements market in 2019. Magnets are used in various applications such as in linear actuators, computer hard disc drives, servo motors, sensors, and speakers & headphones. The increasing demand for magnets in consumer electronics, automobiles and turbines are expected to boost the consumption of rare earth elements. Additionally, magnets are used in medical equipment, such as heart pumps, sleep apnea machines, pacemakers, MRI machines, and insulin pumps. The healthcare industry has been witnessing huge investments in the regions, such as Asia-Pacific and the Middle East & Africa, which may drive the demand for the medical equipment which in turn drives the rare earth elements market.

As per the International Energy Agency, the global stock of electric cars was over 5 million in 2018 with more than a 63% increase from 2017. Rising demand for electric vehicles in order to reduce the CO2 emissions is expected to propel the use of magnets in the production of batteries.

Geography - Segment Analysis

Asia Pacific dominated the rare earth elements market with a share of more than 70% during the forecast period. Automotive industry and consumer electronics holds significance in Asia Pacific rare earth elements market. This is owing to rising application of rare earths in magnets for manufacturing batteries in the electric vehicles and polishing of television glass to smoothen the surface & reduce the weight of the product.

China is the world’s largest producer of rare earth elements and also a dominant consumer. According to U.S. Geological Survey, China is the world leader in the rare earth elements production followed by the US and Australia. China produced 120,000 metric tonnes of rare earth elements in 2019, followed by 15,000 and 20,000 metric tonnes by U.S. and Australia. Currently, around 80% of the precious metals used by the United States are imported from China. Even if the US’ production is one of the biggest in the world it's still insignificant compared to China’s rare elements production. Rare earth elements are mainly used in manufacturing of electronics products for domestic and export markets. It is possible that China's reluctance to sell rare earths is a defense of their value-added manufacturing sector.

Drivers – Rare Earth Elements Market

  • Growing electronics demand

Rare Earths well suited for use in a variety of products, including cellphones, batteries, loudspeakers, lights, magnets, and even wind turbines. Rare earth elements are often key elements used in the creation of components used in everyday objects, such as fiber optics, light-emitting diodes (LEDs),  compact fluorescent lights, and are used as phosphors, catalysts,  and polishing compounds for illuminated screens on electronic devices, air pollution control and the polishing of optical-quality glass.

The production of consumer electronics is increasing worldwide, especially in APAC. According to India Brand Equity Foundation, the production of LCD/LED TVs in India reached 16 million units in 2018 from 8.75 million units in 2015. This is likely to fuel the utilization of rare earth elements such as lanthanum, cerium and praseodymium over the forecast period.

Challenges – Rare Earth Elements Market

  • Growing trade tension

Amid the ongoing trade war with the US, the Chinese development and reform commission is currently developing new state policies on rare earth elements, and intends to make them public as soon as possible. China dominates the global supply chain for rare earths as it produces more than 80 % of them. The US relies on China for about 80% of its rare earths supplies. 

In 2010, China significantly restricted their rare earth exports. That was done to ensure a supply of rare earths for domestic manufacturing and for environmental reasons. This shift by China triggered panic buying, and some rare earth prices shot up exponentially. In addition, United States, Japan and the European Union complained to the World Trade Organization about China's restrictive rare earth trade policy.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the rare earth elements market. In 2019, the market of rare earth elements has been consolidated by the top five players accounting for xx% of the rare earth elements market share. Major top 10 companies of rare earth elements market are Shin-Etsu Chemical Co. Ltd., China Minmetals Rare Earth Co. Ltd., China Northern Rare Earth (Group) High-Tech Co., Ltd., Iluka Resources Ltd, Molycorp Inc., Lynas Corporation Ltd, and Alkane Resources Ltd. among others.

1. Rare Earth Elements Market - Overview
        1.1 Definitions and Scope
2. Rare Earth Elements Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Rare Earth Elements Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Rare Earth Elements Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Rare Earth Elements Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Rare Earth Elements Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Rare Earth Elements Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Rare Earth Elements Market - By Product Type (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
9. Rare Earth Elements Market - By Type (Market Size -$Million / $Billion)
9.1 Cerium
9.1.1 Oxide
9.1.2 Sulfide
9.2 Neodymium
9.2.1 Alloy
9.3 Lanthanum
9.3.1 Alloy
9.3.2 Oxide
9.4 Dysprosium
9.5 Terbium
9.6 Yttrium
9.6.1 Alloy
9.6.2 Oxide
9.7 Scandium
9.7.1 Alloy
9.7.2 Oxide
9.7.3 Fluoride
9.7.4 Chloride
9.7.5 Nitrate
9.7.6 Iodide
9.7.7 Carbonate and Others
10. Rare Earth Elements - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
10.3.1 Catalysts
10.3.2 Ceramics
10.3.3 Phosphors
10.3.4 Glass & Polishing
10.3.5 Metallurgy
10.3.6 Magnets
11. Rare Earth Elements- By Geography (Market Size -$Million / $Billion)
        11.1 Rare Earth Elements Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Rare Earth Elements- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Rare Earth Elements- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Rare Earth Elements - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Rare Earth Elements - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Rare Earth Elements Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Rare Earth Elements Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at a global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Rare Earth Elements Market - Key Company List by Country Premium
15. Rare Earth Elements Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Alkane Resource Ltd
        15.3 Aluminum Corporation Of Ltd
        15.4 Arafura Resource Limited
        15.5 Avalon Advanced Material Inc
        15.6 Caeneus Mineral Ltd
        15.7 Eutectix
        15.8 Galaxy Resource Ltd
        15.9 Ganzhou Rare Earth Group Co. Ltd
        15.10 Iluka Resource Ltd
        15.11 Inner Baotou Steel Rare-Earth Hi-Tech Co. Ltd
        15.12 International Ferro Metal Limited
        15.13 Lynas Corporation Ltd
        15.14 Medallion Resource
        15.15 Minmetals Corporation
        15.16 Nonferrous Metal Industry'S Foreign Engineering And Construction Co. Ltd
        15.17 Northern Mineral Limited
        15.18 Northern Rare Earth
        15.19 Orbite Technology Inc
        15.20 Peak Resource Limited
        15.21 Quest Rare Mineral Ltd
        15.22 Rare Element Resource
        15.23 Rising Nonferrous Metal Share Co. Ltd
        15.24 Shin-Etsu Chemical Company
        15.25 Stans Energy Corp
        15.26 Tantalus Rare Earth Ag
        15.27 Ucore Rare Metal Inc
        15.28 Xiamen Tungsten Co. Ltd
        15.29 Company 28
        15.30 Company 29 & More
*Financials would be provided on a best efforts basis for private companies
16. Rare Earth Elements Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Rare Earth Elements Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

List of Tables

1 US Rare Earth Elements Market Size 2018
2 Canada Rare Earth Elements Market Share 2018
3 Brazil Rare Earth Elements Market Outlook 2019 - 2023
4 Mexico Rare Earth Elements Market Research 2018
5 Germany Rare Earth Elements Market Trends 2019 - 2023 
6 France Rare Earth Elements Market Growth 2019 - 2023 
7 UK Rare Earth Elements Market Demand 2019 - 2023 
8 Italy Rare Earth Elements Market Segmentation 2018
9 Russia Rare Earth Elements Market Analysis 2019 - 2023
10 China Rare Earth Elements Market Revenue 2019 - 2023
11 Japan Rare Earth Elements Market Volume 2019 - 2023
12 South Korea Rare Earth Elements Market Potential 2019 - 2023
13 India Rare Earth Elements Market Leaders 2018
14 Saudi Arabia Rare Earth Elements Market Forecast 2019 - 2023 
15 Kuwait Rare Earth Elements Market Value 2018

List of Figures

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