DUBLIN, May 3, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Rare Earth Metals Market 2017-2021" report to their offering.
The global rare earth metals market to grow at a CAGR of 13.67% during the period 2017-2021.
Global Rare Earth Metals Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
One trend in market is rise in production capacities and emergence of alternative suppliers. Lucrative trade and the growing demand for rare earth metals has resulted due to the intense evaluation of domestic reserves for exploitation and leveraging them for strategic uses by several countries. This is being encouraged by large rare earth metal consuming nations in order to leverage their supply risks.
The analyst observes an increased investment in this sector in India, South Africa, Brazil, Australia, Canada, Vietnam, and Malaysia. These countries are likely to emerge as reliable alternative suppliers to China. New developments in North America (mainly Canada), Australia, and Africa are contributing to the new rare earth element resources. Japan has committed huge investments in these nations in order to reduce its import dependence on China. Most of the mines currently being developed are expected to come on-stream by 2017-2020. Therefore, the analyst expects a further drop in the supply share of China.
According to the report, one driver in market is elevated usage in direct-drive turbines for wind energy production. Wind energy has become one of the most recognized, cost-effective, and clean solutions for generating electricity. A clean alternative to non-renewable fuels, wind energy farms provide an alternative method to generate electricity and reduce the emission of greenhouse gases. Wind energy generation is expected to be one of the fastest-growing markets in the future because of growing federal incentives for renewable energy production and easing regulations.
Further, the report states that one challenge in market is demand-supply outages and the rise of substitutes. The global supply of rare earth metals is heavily concentrated in certain geographies while the demand is widely spread across the world. As a result, trade plays a major role in the reach of rare earth oxides to various end-use industries across the world. The current production is mainly restricted to the US and China with other geographies having scarce produce. As a result of this overdependence on a limited number of mining sites, any disruption to production often results in huge price fluctuations and challenges the availability to various sensitive end uses.
- Alkane Resource
- Arafura Resources
- Avalon Advanced Materials
- China Minmetals Rare Earth
- Lynas Corporation
Other prominent vendors
- Baogang Group
- Canada Rare Earth Corp
- China Rare Earth Holdings
- Frontier Rare Earths
- Greenland Minerals and Energy
- Indian Rare Earths
- Jiangxi Copper Company
- Montero Mining and Exploration
- Namibia Rare Earths
- Quest Rare Minerals
- Rare Element Resources
- Showa Denko K.K
- Ucore Rare Metals
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by element type
Part 07: Market segmentation by application
Part 08: Geographical segmentation
Part 09: Decision framework
Part 10: Drivers and challenges
Part 11: Market trends
Part 12: Vendor landscape
Part 13: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/5wn7v9/global_rare_earth
Laura Wood, Senior Manager
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SOURCE Research and Markets