Rare Earth Metals Market to cross $20bn by 2024: Global Market Insights, Inc.

Rare Earth Metals Market Size By Metal (Cerium, Dysprosium, Erbium, Europium, Gadolinium, Holmium, Lanthanum, Lutetium, Neodymium, Praseodymium, Promethium, Samarium, Scandium, Terbium, Thulium, Ytterbium, Yttrium), By Application (Magnets, Colorants, Alloys, Optical Instruments, Catalysts), Industry Analysis Report, Regional Outlook (U.S., Canada, France, Germany, UK, Russia, Italy, China, India, Japan, Australia, Thailand, Malaysia, Brazil, Mexico, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024


Selbyville, Delaware, Jan. 09, 2018 (GLOBE NEWSWIRE) --

Rare Earth Metals Market is expected to surpass USD 20 billion by 2024; according to a new research report by Global Market Insights, Inc. Rare earth metals are a group of 17 elements, which are found in geological deposits, and share similar properties. Some of the most abundant metals in the world are neodymium, cerium, and lanthanum. All the rare earth metals are classified into two groups, namely light rare earth’s (LRE’s), and heavy rare earth’s (HRE’s).

Growing demand for magnets in automobiles, and energy generation will majorly contribute to the growth of global rare earth metals market over the forecast period. The demand for rare earth magnets is majorly increasing by their consumption in electric and hybrid vehicles, and wind turbines. Increasing focus on utilizing clean and renewable energy is giving a substantial pressure on the electricity providers, to generate energy through renewable sources, which in turn will show a positive impact on the growth of this market.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2303

High performance of rare earth magnets at very high temperatures, coupled with high corrosion resistance will significantly help the market to grow at a higher rate over the forecast period. These factors will also increase the demand for rare earth’s in wind turbine applications, as other metals cannot substitute them.

Inconsistencies in rare earth metal supply and demand is the significant restraint to the growth of global rare earth metals market over the forecast period. As majority of the global rare earth production capacity is in China, it is becoming difficult for the other countries to rely more on China, and causing huge disturbances in trading. Also, small changes in the production of rare earth metals, will show some bigger changes in the prices of these metals, as the demand for these metals is established globally.

Browse key industry insights spread across 1030 pages with 1945 market data tables & 27 figures & charts from the report, “Rare Earth Metals Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/rare-earth-metals-market

Cerium, and lanthanum are found out to be the major metals in terms of volume over the forecast period. Growing consumption in catalytic, and battery applications has led the segmental market to grow over the forecast period. By revenue, neodymium had the highest market share in 2016, with a market share of over 30%. It will dominate the global rare earth metals market till the end of projected period. Neodymium market will grow at a CAGR of 8.2% from 2017 to 2024.

By applications, magnets held the dominant market share in terms of both volume, and revenue over the forecast period. This segment grows at a CAGR of more than 8.2% in terms of revenue, and 7.2% in terms of market volume. Catalysts application segment has the second largest market share in terms of both volume, and revenue in the global rare earth metals market. In 2016, the catalysts application segment contributed a share of more than 23% share of the global rare earth metals market.

In terms of region, the Asia Pacific region has the lion’s share of the global rare earth metals market. Rapid industrialization in the developing countries like India, and China, coupled with high consumption in China, due to strict regulations regarding clean energy production drives the regional rare earth metals market till the end of the forecast period.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2303

Some of the key companies in the global rare earth metals market are Great Western Minerals, India Rare Earth Ltd., Avalon Rare Metals, and Canada Rare Earth Corporation among others.

Browse Related Reports:

Fiber Reinforced Polymer (FRP) Rebars Market Forecast, 2016 – 2024

Global FRP Rebars Market size was over USD 590 million in 2015, and will witness CAGR over 8.5% from 2016 to 2024. Rapid infrastructure development along with increase in construction spending are the key trending factors driving FRP rebar market size. Increasing corrosion issues in conventional reinforcement techniques has enhanced the product penetration in the infrastructure repairing industry.  

https://www.gminsights.com/industry-analysis/fiber-reinforced-polymer-frp-rebars-market

Precious Metals Market Forecast, 2017 – 2024

Precious Metals Market size is expected to witness a surge in demand owning to their rare or high economic value. Higher comparative values of these products are driven by several factors including use in industrial different industrial processes, their rarity and consideration as investment vehicles with the intention of gaining positive returns.

https://www.gminsights.com/industry-analysis/precious-metals-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://www.gminsights.com/blogs
Connect with us: Facebook | Google+ | LinkedIn | Twitter