Rare Earth Metals Market Size, Share, Forecast Report 2032
Rare Earth Metals Market By Product (Cerium, Lanthanum, Neodymium, Praseodymium, and Others), By Application (Catalyst, Magnets, Ceramics, Metallurgy, and Others), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 6.59 Billion | USD 19.48 Billion | 12.8% | 2023 |
Rare Earth Metals Market: Industry Perspective
The global rare earth metals market size was worth around USD 6.59 Billion in 2023 and is predicted to grow to around USD 19.48 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 12.8% between 2024 and 2032. The report analyzes the global rare earth metals market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the rare earth metals industry.
In order to give the users of this report a comprehensive view of the rare earth metals market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to regions.
The study provides a decisive view of the rare earth metals market based on product, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. The regional segment includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Rare Earth Metals Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | Rare Earth Metals Market |
| Market Size in 2023 | USD 6.59 Billion |
| Market Forecast in 2032 | USD 19.48 Billion |
| Growth Rate | CAGR of 12.8% |
| Number of Pages | 210 |
| Key Companies Covered | Lynas Corporation Ltd., Molycorp, Inner Mongolia Baotou Steel, Chinalco Yunnan Copper Resources Ltd., Rare Elements Resources Ltd., Greenland Rare Earth and Energy Ltd., Alkane Resources, Indian Rare Earths, Arafura Resources, Avalon Rare Metals, Great Western Minerals Group, Rare-Earth Hi-Tech Co, and China Rare Earth Holdings |
| Segments Covered | By Product, By Application and By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 to 2022 |
| Forecast Year | 2024 - 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Rare Earth Metals Market: Competitive Analysis
Some of the major players in the global rare earth metals market include:
- Lynas Corporation Ltd.
- Molycorp
- Inner Mongolia Baotou Steel
- Chinalco Yunnan Copper Resources Ltd.
- Rare Elements Resources Ltd.
- Greenland Rare Earth and Energy Ltd.
- Alkane Resources
- Indian Rare Earths
- Arafura Resources
- Avalon Rare Metals
- Great Western Minerals Group
- Rare-Earth Hi-Tech Co
- China Rare Earth Holdings
The global rare earth metals market is segmented as follows;
Global Rare Earth Metals Market: Product Analysis
- Cerium
- Lanthanum
- Neodymium
- Praseodymium
- Others
Global Rare Earth Metals Market: Application Analysis
- Catalyst
- Magnets
- Ceramics
- Metallurgy
- Others
Global Rare Earth Metals Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
Table Of Content
Methodology
Free Analysis
FrequentlyAsked Questions
Rare earth metals are a group of 17 chemical elements, including the 15 lanthanides and scandium and yttrium. Despite their name, they are not actually rare in the Earth's crust, but they are often found dispersed rather than concentrated in economically viable deposits.
According to a study, the global rare earth metals market size was worth around USD 6.59 billion in 2023 and is expected to reach USD 19.48 billion by 2032.
The global rare earth metals market is expected to grow at a CAGR of 12.8% during the forecast period.
Asia Pacific is expected to dominate the rare earth metals market over the forecast period.
Leading players in the global rare earth metals market include Lynas Corporation Ltd., Molycorp, Inner Mongolia Baotou Steel, Chinalco Yunnan Copper Resources Ltd., Rare Elements Resources Ltd., Greenland Rare Earth and Energy Ltd., Alkane Resources, Indian Rare Earths, Arafura Resources, Avalon Rare Metals, Great Western Minerals Group, Rare-Earth Hi-Tech Co, and China Rare Earth Holdings, among others.
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