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Global Rare Earth Metal Market 2020-2024

Technavio has been monitoring the global rare earth metal market size and it is poised to grow by USD 5.76 billion during 2020-2024, progressing at a CAGR of about 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Rare Earth Metal Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist rare earth metal market growth during the next five years
  • Estimation of the rare earth metal market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the rare earth metal market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of rare earth metal market vendors

Frequently Asked Questions:

  • Based on segmentation by application, which is the leading segment in the market?
    Permanent magnets segment is the leading segment in the market.
  • What are the major trends in the market?
    The rise of new production capacities is a key trend in the market.
  • At what rate is the market projected to grow?
    The market is expected to grow at a CAGR of about 10% during the forecast period.
  • Who are the top players in the market?
    Alkane Resources Ltd., Arafura Resources Ltd., GREENLAND MINERALS Ltd., Hitachi Metals Ltd., Iluka Resources Ltd., Lynas Corp. Ltd., Neo Performance Materials Inc., Northern Minerals Ltd., Shin-Etsu Chemical Co. Ltd, and SHOWA DENKO K.K. are some of the major market participants.
  • What are the key market drivers and challenges?
    The rising demand for electronic appliances will offer immense growth opportunities. The demand-supply outages and the rise of substitutes might hamper the market growth.
  • How big is the APAC market?
    APAC region will contribute 86% of the market growth.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alkane Resources Ltd., Arafura Resources Ltd., GREENLAND MINERALS Ltd., Hitachi Metals Ltd., Iluka Resources Ltd., Lynas Corp. Ltd., Neo Performance Materials Inc., Northern Minerals Ltd., Shin-Etsu Chemical Co. Ltd, and SHOWA DENKO K.K. are some of the major market participants. The rising demand for electronic appliances will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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