Global Rare Earth Metals Market Is Expected To Reach USD 8.19 Billion By 2018: Transparency Market Research

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Mar 19, 2013, 05:30 ET

ALBANY, New York, March 19, 2013 /PRNewswire/ --

Transparency Market Research (http://www.transparencymarketresearch.com) has released a new market report titled "Rare Earth Metals (Lanthanum, Cerium, Neodymium, Europium, Yttrium, Scandium, Terbium & Other Key Elements) Market - Global Industry Analysis, Applications (Magnets, Catalysts, Metallurgy, Phosphors, Ceramics & Others), Size, Share, Growth, Trends and Forecast, 2012 - 2018," which observes that the rare earth metals demand was worth USD 3.93 billion in 2012 and is expected to reach USD 8.19 billion by 2018, growing at a CAGR of 13.0% from 2012 to 2018. In terms of volumes, global rare earth metals demand is expected to cross 290 kilo tons by 2018.

Browse the full report athttp://www.transparencymarketresearch.com/rare-earths.html

Increasing applications in permanent magnets, rechargeable batteries and catalysts for reducing pollution, electronics, portable equipments and computers are expected to drive rare earth metals demand over the next five years.

Key application segments analyzed in this study include magnets, catalysts, metallurgy, ceramics, phosphors, and glass and polishing. Magnets and metallurgy applications dominated the rare earth metals consumption, together accounting for 40.9% of the total consumption in 2011. This study provides a comprehensive analysis of seventeen key rare earth metals including lanthanum, praseodymium, cerium, neodymium, samarium, promethium, europium, dysprosium, holmium, gadolinium, terbium, thulium, scandium, yttrium erbium, ytterbium, and lutetium. Cerium, lanthanum and neodymium are the most widely consumed rare earth metals and together accounted for 82.9% of the total volumes consumed in 2011. The demand for praseodymium, neodymium, and dysprosium is primarily driven by the increasing demand for permanent magnets and rechargeable batteries. Europium, yttrium and terbium are extensively used in phosphors for a host of applications in the electronic industry.

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Asia Pacific dominated the global market, accounting for 79.5% of global volumes in 2011, followed by North America and Europe. China was the largest regional market for rare earth metals in Asia, accounting for over 50% of total volumes in 2011, both in terms of consumption as well as production. Regional demand for magnets and the growing metallurgy industry are expected to drive the Asia Pacific market in the near future.

Inner Mongolia Baotou Steel Rare Earth Hi-Tech Co, Arafura Resources, Alkane Resources, Great Western Minerals Group, Avalon Rare Metals, Rare Elements Resources Ltd, Greenland Rare Earth and Energy Ltd, China Rare Earth Holdings, Indian Rare Earths, Lynas Corporation Ltd., Molycorp, and Chinalco Yunnan Copper Resources Ltd., are some of the major manufacturers of rare earth metals.

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Rare earth metal market by product type:

Lanthanum
Praseodymium
Cerium
Neodymium
Samarium
Promethium
Europium
Dysprosium
Holmium
Gadolinium
Terbium
Thulium
Scandium
Yttrium
Erbium
Ytterbium
Lutetium

Rare earth metals market by application:

Magnets
Catalyst
Metallurgy
Ceramics
Phosphors
Glass
Polishing

Rare earth metals market by geography:

North America
Europe
Asia-Pacific
Rest of the World (RoW)

Browse all Chemical Industry Research Reports @ http://www.transparencymarketresearch.com/chemical-market-reports-2.html

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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