Global Rare Earth Elements Market Research Report Information By Product By Application By End Use and By Region Forecast to 2032

Description

List of Tables

Global Rare Earth Elements Market Research Report Information By Product (Cerium, Dysprosium, Erbium, Europium, Gadolinium, Lanthanum, Neodymium, Praseodymium, Samarium, Terbium, Ytterbium, Yttrium, Others) By Application (Magnets, Catalysts, Metallurgy, Polishing, Glass, Phosphors, Ceramics, Others) By End Use (Automotive, Oil & Gas, Electronics, Renewable Energy, Defense and Aerospace, Others) and By Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa) Forecast to 2032

Market Overview

In 2023, the market size of rare earth elements was estimated to be USD 9,140.6 million. The Rare Earth Elements Market is anticipated to experience a compound annual growth rate (CAGR) of 12.1% during the forecast period, increasing from USD 10,417.5 Million in 2024 to USD 26,049.7 Million by 2032.

The aerospace and defense sectors are experiencing a significant increase in the demand for rare earth elements, as they are essential to produce sophisticated materials and components that satisfy high-performance, durability, and weight standards. Rare earth elements, including neodymium, samarium, dysprosium, and yttrium, are essential for the production of high-temperature-resistant alloys, phosphors, and potent yet lightweight permanent magnets. These materials are employed in a diverse range of aerospace and defense applications. In order to enhance efficiency and reduce aircraft weight, the aerospace industry necessitates durable components for the development of high-strength magnets for electric actuators, sensors, and power generation systems. Rare earth elements are essential for this purpose. The utilization of rare earth element-based magnets and alloys also contributes to the improvement of fuel efficiency, the reduction of emissions, and the enhancement of performance. Additionally, in the defense sector, rare earth elements are essential for the development of electronic warfare systems, radar systems, missile technology, and laser guidance. The precision, reliability, and capability to operate in challenging environments of these systems are contingent upon the use of high-performance alloys and rare earth magnets.

Market segment insights

The Rare Earth Elements Market has been segmented by product into the following categories: Cerium, Dysprosium, Erbium, Europium, Gadolinium, Lanthanum, Neodymium, Praseodymium, Samarium, Terbium, Ytterbium, Yttrium, and Others.

Magnets, catalysts, metallurgy, polishing, glass, phosphoruses, ceramics, and others comprise the market's application segmentation.

The Rare Earth Elements Market has been segmented into the following end-use sectors: Automotive, Oil & Gas, Electronics, Renewable Energy, Defense and Aerospace, and Others.

Regional Perspectives

The Rare Earth Elements Market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America, as determined by region. The Asia-Pacific Rare Earth Elements Market is anticipated to account for a substantial revenue share during the forecast period and maintained the highest market share. The global rare earth element market is primarily dominated by the Asia Pacific (APAC) region in terms of both supply and consumption. China is the world's largest producer and consumer of rare earth elements, contributing more than 60% of global production. Consequently, China is a significant participant in the market dynamics, serving as the primary exporter of rare earth elements and the primary supplier of refined rare earth products.

Major Players

Lynas Rare Earths Ltd., Iluka Resources Ltd., Arafura Rare Earths, Shenghe Resources Holding Co., Ltd., Texas Mineral Resources Corp., IREL (India) Limited, Canada Rare Earth Corporation, MP Materials, Rare Element Resources Ltd., Avalon Advanced Materials Inc., and ACS Material, LLC are the primary players in the Rare Earth Elements Market.

Product Code: MRFR/CnM/23208-HCR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 CONSUMPTION & NET TRADE APPROACH
- 3.6.2 REVENUE ANALYSIS APPROACH
3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 GROWING DEMAND IN ELECTRONICS AND RENEWABLE ENERGY INDUSTRIES
- 4.2.2 GOVERNMENT POLICIES AND INCENTIVES
- 4.2.3 INCREASING USAGE IN AEROSPACE & DEFENSE
4.3 RESTRAINTS
- 4.3.1 RISING ENVIRONMENTAL CONCERNS
- 4.3.2 AVAILABILITY OF ALTERNATIVE MATERIALS
4.4 OPPORTUNITY
- 4.4.1 ENHANCED PROCESSING TECHNOLOGIES
- 4.4.2 RAPIDLY EXPANDING AUTOMOTIVE SECTOR
4.5 IMPACT ANALYSIS OF COVID-19
4.6 RUSSIA-UKRAINE WAR IMPACT ANALYSIS
4.7 US-CHINA TRADE WAR IMPACT ON THE MARKET

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY/VALUE CHAIN ANALYSIS
- 5.1.1 EXPLORATION & MINING
  - 5.1.1.1 LIST OF KEY PLAYERS (COMPANY NAME, HEADQUARTERS, AND CONTACT DETAILS)
- 5.1.2 CONCENTRATION & PROCESSING
  - 5.1.2.1 PROCESSING & PRODUCTION
  - 5.1.2.2 PRODUCT DEVELOPMENT AND INNOVATION
- 5.1.3 REFINING & SEPARATION
  - 5.1.3.1 LIST OF KEY PLAYERS (COMPANY NAME, HEADQUARTERS, AND CONTACT DETAILS)
- 5.1.4 . MANUFACTURING & ALLOYING
  - 5.1.4.1 LIST OF KEY PLAYERS (COMPANY NAME, HEADQUARTERS, AND CONTACT DETAILS
- 5.1.5 END USERS
  - 5.1.5.1 CUSTOMER NEEDS, PREFERENCES, PAIN POINTS & APPLICATIONS
  - 5.1.5.2 LIST OF POTENTIAL CUSTOMERS/END USERS (COMPANY NAME, HEADQUARTERS, AND CONTACT DETAILS)
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 THREAT OF SUBSTITUTES
- 5.2.3 BARGAINING POWER OF SUPPLIERS
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY
5.3 PRICING ANALYSIS, BY REGION (USD/TON)
- 5.3.1 TRENDS
5.4 SUPPLY-DEMAND ANALYSIS, 2018-2023 (TONS)
- 5.4.1 SUPPLY ANALYSIS, 2018-2023
- 5.4.2 DEMAND ANALYSIS, 2018-2023
5.5 BROAD LEVEL GAP ANALYSIS TO UNDERSTAND UNTAPPED AREAS
- 5.5.1 BASED ON PRODUCT
- 5.5.2 BASED ON APPLICATION
5.6 TECHNOLOGY ADVANCEMENTS
- 5.6.1 TECHNOLOGY ROADMAP
- 5.6.2 COMPATIBILITY WITH END-USER INDUSTRIES
- 5.6.3 ADVANCED TESTING AND ANALYSIS
5.7 REGULATORY FRAMEWORK
- 5.7.1 GOVERNMENTAL POLICIES
- 5.7.2 CERTIFICATION AND STANDARDS
5.8 RESEARCH AND DEVELOPMENT UPDATE
- 5.8.1 CURRENT SCENARIO
- 5.8.2 FUTURE ROADMAP
- 5.8.3 CHALLENGES
- 5.8.4 NOVEL APPLICATIONS
- 5.8.5 KEY DEVELOPMENTS
5.9 ADJACENT MARKET ANALYSIS
5.10 OVERVIEW ON EXPANSION STRATEGIES - RARE EARTH ELEMENTS MARKET
- 5.10.1 INTEGRATION STRATEGY
- 5.10.2 DIVERSIFICATION STRATEGY
- 5.10.3 SUSTAINABILITY AND ENVIRONMENTAL RESPONSIBILITY
- 5.10.4 COOPERATION STRATEGY
5.11 FUNDING ANALYSIS
5.12 CASE STUDIES/USE CASES
- 5.12.1 CASE STUDY 1
- 5.12.2 CASE STUDY 2
5.13 PESTEL ANALYSIS

6 GLOBAL RARE EARTH ELEMENTS MARKET, BY PRODUCT

6.1 INTRODUCTION
- 6.1.1 CERIUM
- 6.1.2 DYSPROSIUM
- 6.1.3 ERBIUM
- 6.1.4 EUROPIUM
- 6.1.5 GADOLINIUM
- 6.1.6 LANTHANUM
- 6.1.7 NEODYMIUM
- 6.1.8 PRASEODYMIUM
- 6.1.9 SAMARIUM
- 6.1.10 TERBIUM
- 6.1.11 YTTERBIUM
- 6.1.12 YTTRIUM
- 6.1.13 OTHERS
  - 6.1.13.1 HOLMIUM
  - 6.1.13.2 LUTETIUM
  - 6.1.13.3 PROMETHIUM
  - 6.1.13.4 SCANDIUM
  - 6.1.13.5 THULIUM

7 GLOBAL RARE EARTH ELEMENTS MARKET, BY APPLICATION

7.1 INTRODUCTION
- 7.1.1 MAGNETS
- 7.1.2 CATALYSTS
- 7.1.3 METALLURGY
- 7.1.4 POLISHING
- 7.1.5 GLASS
- 7.1.6 PHOSPHORS
- 7.1.7 CERAMICS
- 7.1.8 OTHERS

8 GLOBAL RARE EARTH ELEMENTS MARKET, BY END-USE

8.1 INTRODUCTION
- 8.1.1 AUTOMOTIVE
- 8.1.2 OIL & GAS
- 8.1.3 ELECTRONICS
- 8.1.4 RENEWABLE ENERGY
- 8.1.5 AEROSPACE & DEFENSE
- 8.1.6 OTHERS

9 GLOBAL RARE EARTH ELEMENTS MARKET, BY REGION

9.1 INTRODUCTION
- 9.1.1 NORTH AMERICA
- 9.1.2 EUROPE
- 9.1.3 ASIA PACIFIC
- 9.1.4 SOUTH AMERICA
- 9.1.5 MIDDLE EAST & AFRICA
9.2 REGIONAL ANALYSIS BY COUNTRY
- 9.2.1 NORTH AMERICA
  - 9.2.1.1 US
  - 9.2.1.2 CANADA
  - 9.2.1.3 MEXICO
- 9.2.2 EUROPE
  - 9.2.2.1 GERMANY
  - 9.2.2.2 UK
  - 9.2.2.3 FRANCE
  - 9.2.2.4 RUSSIA
  - 9.2.2.5 ITALY
  - 9.2.2.6 SPAIN
  - 9.2.2.7 REST OF EUROPE
- 9.2.3 ASIA-PACIFIC
  - 9.2.3.1 CHINA
  - 9.2.3.2 INDIA
  - 9.2.3.3 JAPAN
  - 9.2.3.4 SOUTH KOREA
  - 9.2.3.5 MALAYSIA
  - 9.2.3.6 THAILAND
  - 9.2.3.7 INDONESIA
  - 9.2.3.8 AUSTRALIA
  - 9.2.3.9 REST OF ASIA-PACIFIC
- 9.2.4 SOUTH AMERICA
  - 9.2.4.1 BRAZIL
  - 9.2.4.2 ARGENTINA
  - 9.2.4.3 REST OF SOUTH AMERICA
- 9.2.5 MIDDLE EAST & AFRICA
  - 9.2.5.1 GCC COUNTRIES
  - 9.2.5.2 SOUTH AFRICA
  - 9.2.5.3 REST OF MIDDLE EAST & AFRICA

10 COMPETITIVE LANDSCAPE

10.1 INTRODUCTION
10.2 COMPANY MARKET SHARE ANALYSIS, 2023 (%)
10.3 COMPETITION DASHBOARD
10.4 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL, 2023
10.5 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 10.5.1 AGREEMENT
- 10.5.2 CAPACITY EXPANSION
- 10.5.3 CONTRACT

11 COMPANY PROFILES

11.1 LYNAS RARE EARTHS LTD
- 11.1.1 COMPANY OVERVIEW
- 11.1.2 FINANCIAL OVERVIEW
- 11.1.3 PRODUCTS OFFERED
- 11.1.4 KEY DEVELOPMENTS
- 11.1.5 SWOT ANALYSIS
- 11.1.6 KEY STRATEGY
11.2 ILUKA RESOURCES LTD.
- 11.2.1 COMPANY OVERVIEW
- 11.2.2 FINANCIAL OVERVIEW
- 11.2.3 PRODUCTS OFFERED
- 11.2.4 KEY DEVELOPMENTS
- 11.2.5 SWOT ANALYSIS
- 11.2.6 KEY STRATEGY
11.3 ARAFURA RARE EARTHS
- 11.3.1 COMPANY OVERVIEW
- 11.3.2 FINANCIAL OVERVIEW
- 11.3.3 PRODUCTS OFFERED
- 11.3.4 KEY DEVELOPMENTS
- 11.3.5 SWOT ANALYSIS
- 11.3.6 KEY STRATEGY
11.4 SHENGHE RESOURCES HOLDING CO., LTD.
- 11.4.1 COMPANY OVERVIEW
- 11.4.2 FINANCIAL OVERVIEW
- 11.4.3 PRODUCTS OFFERED
- 11.4.4 KEY DEVELOPMENTS
- 11.4.5 SWOT ANALYSIS
- 11.4.6 KEY STRATEGY
11.5 TEXAS MINERAL RESOURCES CORP.
- 11.5.1 COMPANY OVERVIEW
- 11.5.2 FINANCIAL OVERVIEW
- 11.5.3 PRODUCTS OFFERED
- 11.5.4 KEY DEVELOPMENTS
- 11.5.5 SWOT ANALYSIS
- 11.5.6 KEY STRATEGY
11.6 IREL (INDIA) LIMITED
- 11.6.1 COMPANY OVERVIEW
- 11.6.2 FINANCIAL OVERVIEW
- 11.6.3 PRODUCTS OFFERED
- 11.6.4 KEY DEVELOPMENTS
- 11.6.5 SWOT ANALYSIS
- 11.6.6 KEY STRATEGY
11.7 CANADA RARE EARTH CORPORATION
- 11.7.1 COMPANY OVERVIEW
- 11.7.2 FINANCIAL OVERVIEW
- 11.7.3 PRODUCTS OFFERED
- 11.7.4 KEY DEVELOPMENTS
- 11.7.5 SWOT ANALYSIS
- 11.7.6 KEY STRATEGY
11.8 MP MATERIALS
- 11.8.1 COMPANY OVERVIEW
- 11.8.2 FINANCIAL OVERVIEW
- 11.8.3 PRODUCTS OFFERED
- 11.8.4 KEY DEVELOPMENTS
- 11.8.5 SWOT ANALYSIS
- 11.8.6 KEY STRATEGY
11.9 RARE ELEMENT RESOURCES LTD.
- 11.9.1 COMPANY OVERVIEW
- 11.9.2 FINANCIAL OVERVIEW
- 11.9.3 PRODUCTS OFFERED
- 11.9.4 KEY DEVELOPMENTS
- 11.9.5 SWOT ANALYSIS
- 11.9.6 KEY STRATEGY
11.10 AVALON ADVANCED MATERIALS INC.
- 11.10.1 COMPANY OVERVIEW
- 11.10.2 FINANCIAL OVERVIEW
- 11.10.3 PRODUCTS OFFERED
- 11.10.4 KEY DEVELOPMENTS
- 11.10.5 SWOT ANALYSIS
- 11.10.6 KEY STRATEGY
11.11 ACS MATERIAL, LLC
- 11.11.1 COMPANY OVERVIEW
- 11.11.2 FINANCIAL OVERVIEW
- 11.11.3 PRODUCTS OFFERED
- 11.11.4 KEY DEVELOPMENTS
- 11.11.5 SWOT ANALYSIS
- 11.11.6 KEY STRATEGY

12 DATA CITATIONS