Global Rare Earth Elements Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Rare Earth Elements Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Element (Cerium (Oxide, Sulfide, and Other Elements), Neodymium (Alloy), Lanthanum (Alloy, Oxide, and Other Elements), Dysprosium, Terbium, Yttrium, Scandium, and Other Elements), Application (Catalysts, Ceramics, Phosphors, Glass and Polishing, Metallurgy, Magnets, and Other Applications), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Rare Earth Elements Market was valued at USD 3,610.5 million in 2023 and is expected to reach USD 7,967.5 million by 2031 while growing at a CAGR of 10.4% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global rare earth elements market growth. Rare Earth Elements (REE), comprising 17 chemically similar elements in the periodic table, include the 15 lanthanides (lanthanum through to lutetium) along with scandium and yttrium. Despite being relatively abundant in the Earth's crust, these elements are usually dispersed and not commonly found in concentrated deposits.
Increasing demand in high-tech industries, electronics, and magnets manufacturing propels the growth of the rare earth elements market. Nevertheless, obstacles like environmental concerns, mining challenges, and geopolitical dependence, along with supply chain vulnerability, may impede market expansion.
Furthermore, the global rare earth elements industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Element Analysis
The Global Rare Earth Elements Market is segmented among Cerium, Neodymium, Lanthanum, Dysprosium, Terbium, Yttrium, Scandium, and Other Elements, based on Element. In 2023, Cerium accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Application Analysis
The Global Rare Earth Elements Market is segmented among Catalysts, Ceramics, Phosphors, Glass and Polishing, Metallurgy, Magnets, and Other Applications, based on Application. In 2023, Magnets accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Rare Earth Elements Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are Aluminum Corporation of China Ltd, Arafura Resources, Avalon Advanced Materials Inc., Minmetals Land Limited, China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd, Eutectix, Iluka Resources Limited, Lynas Rare Earths Ltd, Medallion Resources Ltd, Northern Minerals, and Peak Resources.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Rare Earth Elements Market Dynamics
Drivers
Restraints
Opportunity
4. Global Rare Earth Elements Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Rare Earth Elements Market Segmentation, By Element
Global Rare Earth Elements Market Share Analysis, By Element
Global Rare Earth Elements Market Growth Analysis, By Element
Global Rare Earth Elements Market Trends, By Element
o Cerium
Ø Oxide
Ø Sulfide
Ø Other Elements
o Neodymium
Ø Alloy
o Lanthanum
Ø Alloy
Ø Oxide
Ø Other Elements
o Dysprosium
o Terbium
o Yttrium
o Scandium
o Other Elements
6. Global Rare Earth Elements Market Segmentation, By Application
Global Rare Earth Elements Market Share Analysis, By Application
Global Rare Earth Elements Market Growth Analysis, By Application
Global Rare Earth Elements Market Trends, By Application
o Catalysts
o Ceramics
o Phosphors
o Glass and Polishing
o Metallurgy
o Magnets
o Other Applications
7. Global Rare Earth Elements Market Segmentation, By Region
Global Rare Earth Elements Market Share Analysis, By Region
Global Rare Earth Elements Market Growth Analysis, By Region
Global Rare Earth Elements Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
8. Competitive Landscape
Aluminum Corporation of China Ltd.*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Arafura Resources
Avalon Advanced Materials Inc.
Minmetals Land Limited
China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd
Eutectix
Iluka Resources Limited
Lynas Rare Earths Ltd
Medallion Resources Ltd
Northern Minerals
Peak Resources
*Similar analysis will be provided for each company listed above.
