Dysprosium Market by Type (Oxide, Metal, Acetate, Chloride, and Others) and by Application (Permanent Magnet, Laser Material, Commercial Lightning, Nuclear Reactor, and Others) Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global dysprosium market expected to reach around USD 752 million by 2025, at a CAGR of 5.7% between 2019 and 2025. The global dysprosium market is projected to witness significant growth over the forecast time period, owing to the increasing demand from automotive and electronics industries.

22-Jul-2019 | Number of pages: 110 | Report Code: ZMR-4465 | Report Format : | Status : Published

Analysis

Dysprosium is a rare earth component that has a bright silver-metallic appearance with low toxicity, which is extremely smooth to cut with a knife. Dysprosium has been in use in commercial lighting applications to produce laser products and study chemical reactions. It is also used as neutron-absorbing bars in nuclear reactors and in hard disks and wind turbines.

The global dysprosium market is projected to witness substantial growth over the next few years, owing to the rising applications of dysprosium in the automotive sector. Dysprosium is widely used to manufacture batteries and in permanent magnets. Moreover, the emerging trends of electric mobility, clean energy, energy efficiency, and automation are likely to also enhance the use of dysprosium, which, in turn, will propel the global dysprosium market growth. However, the fluctuating prices of dysprosium may hinder the global dysprosium market in the future. Alternatively, various technological advancements in the production of dysprosium are projected to offer lucrative opportunities for the development of dysprosium market in the upcoming years.

The dysprosium market is classified based on type and application. The type segment of dysprosium market includes oxide, metal, acetate, chloride, and others. Dysprosium oxide is projected to be the most dominating segment among others. Dysprosium oxide is widely used in various applications, such as laser material and commercial lighting. The dysprosium market is segmented on the basis of the application into permanent magnet, laser material, commercial lightning, nuclear reactor, and others. The permanent magnet segment is anticipated to be the fastest growing in the future, owing to the rising demand for permanent magnets in electric vehicle traction motors and wind power generators.

In 2018, the Asia Pacific region dominated the global dysprosium market. The region is projected to continue its dominance over the forecast period as well. This regional dominance can be attributed to the rapidly flourishing automotive industry in the region, which has propelled the production of electric vehicles that is the regional demand for dysprosium. Moreover, the surging electronics industry is another key driving factor for the region’s dysprosium market. The dysprosium market in European and North American regions is projected to grow significantly over the upcoming years, owing to the rising demand for laser materials and permanent magnets.

Some key manufacturers operating in the global dysprosium market are Greenland Minerals, Lynas, Molycorp, Arafura, Tasman Metals, Avalon Advanced Materials, Quest Rare Minerals, Metall Rare Earth, Canada Rare Earth, and HEFA Rare Earth Canada.


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