Rare Earth Metals Market - Global Industry Analysis, Applications Size, Share, Growth, Trends and Fore
Albany,NY (PRWEB) September 26, 2014
Transparency Market Research, in its latest research report states that the global rare earth metals market will grow at a CAGR of 13.0% from 2012 to 2018. This market was valued at $ 3.93 billion in 2012, and is expected to reach $ 8.19 billion by 2018. Additionally, the volumes of global rare earth metals are expected to go beyond 290 kilo tons by 2018. The report titled, “Rare Earth Metals Market (Lanthanum, Cerium, Neodymium, Europium, Yttrium, Scandium, Terbium & Other Key Elements) - Global Industry Analysis, Applications (Magnets, Catalysts, Metallurgy, Phosphors, Ceramics & Others), Size, Share, Growth, Trends and Forecast, 2012 – 2018”, is available for sale on the company’s website.
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The rare earth metals market is expected to grow at a steady rate in the coming five years. The factors driving its growth are demand for rechargeable batteries that are preferred for being recyclable, portable equipments, electronics, permanent magnets, and computers. Increasing demand for clean energy and action taken by the government to ensure the same is another factor driving this market. Clean technology also a reason for growth in the rare earth metals market. However, in the same period, the rare earth metals market is likely to witness a few challenges such as dominance of China in the market and fluctuating costs.
One of the biggest market share holders amongst the rare earth metals is cerium oxide. Due to its application in significant quantities, it held 40% of the total demand in 2013. This material was followed by lanthanum oxide at 23.8% in the same period. Lanthanum oxide is largely used in industries such as green technology, automotive, and general industries such as electronics, and constructions.
The report by Transparency Market Research studies the rare earth metals market by its application, geography, and type. It specifically studies North America, Europe, Asia-Pacific, and Rest of the World, with focus on China. The report uses Porter’s five forces analysis to point out threat from new entrants, threat from substitute materials, bargaining power of buyers and suppliers, and intensity of competitive rivalry.
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The report is comprehensive with complete sketch of competitive landscape and company profiling. Some of the top players reviewed in this report are Lynas Corporation Ltd., Inner Mongolia Baotou Steel Rare Earth Hi-Tech Co, Indian Rare Earths, Great Western Minerals Group, China Rare Earth Holdings, and Molycorp.
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