Report Highlights
The global market, in volume terms, for rare earth usage should reach 300.6 million metric tons by 2023 growing from 206.6 million metric tons in 2019, at a compound annual growth rate (CAGR) of 9.8% for the forecast period of 2019 to 2023.
Report Includes
- 70 data tables and 41 additional tables
- An overview of the global market for rare earth elements and description of its current applications
- Analyses of global market trends, with data corresponding to market size for 2019, estimates from 2020 to 2022, and projections of CAGRs through 2023
- Details about rare earth compounds and green technology and market share analysis for each of the application
- Insights into government initiatives across the geographies, regulatory framework, political implications and environmental and health regulations
- Coverage of novel technologies, R&D progress, market forecast and recent activities in the rare earth element technology
- Details of mergers & acquisitions, joint ventures, collaborations and agreements and other key market strategies
- Market share analysis of the key companies of the industry, and their detailed company profiles, including Aluminum Corp. of China, Arnold Magnetic Technologies, Gansu Rare Earth Group, Hitachi Metals Ltd., Indian Rare Earths Ltd., Mitsui Kinzoku, Rare Element Resources Ltd. and Solvay
Report Scope
This report provides an updated review of rare earth materials, sources, pricing and production processes and identifies current and emerging applications for these materials.
BCC Research delineates the current market status for rare earths, defines trends and presents growth forecasts for the next five years. Supply and sourcing issues, including the latest developments, are also discussed.
The rare earth market is analyzed based on material type and application, and it is expressed as rare earth consumption (in metric tons [t]) and revenues (in $ millions).
A detailed U.S. patent analysis provides further insight regarding market and technological developments.
More specifically, the market analysis conducted by BCC Research for this report is divided into seven sections.
In the first section (Chapter 3), an introduction to the topic and a historical review of rare earth technology are provided, including an outline of recent events. In this section, current and emerging applications for these materials are also identified and divided by sector (e.g., metallurgical/mechanical, chemical, energy and electronics).
The second section (Chapter 4) outlines the latest process developments and improvements related to rare earth production and ends with a summary of global production by country.
The third section (Chapter 5) provides a detailed analysis of the geographical distribution of rare earth sources, discussing the major rare earth mining activities in each country, including supplying an updated assessment of world reserves, a status report on the most important mining projects and global production forecasts.
Past, present and future price trends are presented and discussed in the fourth section (Chapter 6).
Chapter 7 provides a global market analysis of rare earths. Global demand for rare earths is presented by industry/application and by element, with actual data for the years 2019 and estimated data for 2023 Global rare earth revenues by industry are also provided. This analysis of the current rare earth market is followed by a detailed presentation of market growth trends based on industry growth and technological trends. The fifth section concludes by providing projected demand for rare earths within each segment, together with forecast compound annual growth rates (CAGRs) for 2019 through 2023.
The sixth section (Chapter 8) of the study, which covers global industry structure, lists rare earth suppliers and descriptions of their products. The analysis includes a description of the geographical distribution of these firms and an evaluation of other key industry players. Detailed company profiles of the top players are also provided.
The seventh and final section (Chapter 9) includes an extensive U.S. patent analysis, with a summary of patents related to rare earth materials, processes and applications issued in 2019 Patent analysis is performed by region, country, assignee, patent category, application and material type.
Analyst Credentials
Bhavna Joshi has more than 15 years of experience in healthcare and biotechnology research. In addition to business research and consulting, she has conducted corporate briefings for top players in a wide range of market segments. She holds an MBA in the marketing and finance field from Chennai University and has worked with major market research firms.
Bhavna Joshi has authored several market research studies on subjects across domains, including:
- Healthcare tracking technologies.
- Molecular diagnostics market.
- High-growth markets in healthcare and life sciences.
- Adoption rates and analysis of over-the-counter (OTC) diabetic medicines and supplements.
- Radio frequency identification (RFID), real-time locating systems (RTLS), internet protocol (IP) surveillance and other emerging technologies in the healthcare domain.
- Global Aerogel Market
- Global E-commerce Market
- Global Fuel Cells Market
Report Highlights
The global market for rare earths totaled 148,840 metric tons in 2013. The market reached 153,260 metric tons in 2014 and is expected to reach 207,205 metric tons in 2019, registering a compound annual growth rate (CAGR) of 6.2% for the period 2014-2019.
Report Includes
- An overview of the global market for rare earth materials, technologies, and applications.
- Analyses of global market trends, with data from 2012 and 2013, estimates for 2014, and projections of CAGRs through 2019.
- Details concerning rare earth technology focusing on materials, sources, and applications.
- Identification of important technological and market trends within each market segment.
- Analysis of relevant patents and patent trends.
Report Highlights
The global market for rare earths increased from 111.5 thousand metric tons of equivalent rare earth oxides (REO) in 2009 to 141.3 thousand metric tons in 2010, and is estimated to reach 158.2 thousand metric tons by the end of 2011. Consequently, the total market for rare earths is forecast to grow at a CAGR of 10.3% through 2016, leading to the consumption of nearly 258 billion tons of REO in 2016.
Report Highlights
- The global market for rare earths consumed 126,682 metric tons of materials in 2008 and an estimated 113,610 metric tons in 2009. This is expected to increase to 175,618 metric tons in 2014, for a compound annual growth rate (CAGR) of 9.1%.
- Mechanical and metallurgical applications have the largest share of the market and used 42,765 metric tons of materials in 2008. This is expected to decrease to 36,770 metric tons in 2009 and increase to 56,410 metric tons in 2014, for a CAGR of 8.9%.
- Glass and ceramics applications have the second-largest market share, and used 34,730 metric tons in 2008 and an estimated 32,500 metric tons in 2009. This is expected to increase at a CAGR of 8.5% to reach 48,890 metric tons in 2014.
Report Highlights
-
Global consumption of rare earth materials was more than 87,000 metric tons in 2004 and 96,000 metric tons in 2005. At an average annual growth rate (AAGR) of 10.1%, consumption of these materials should cross well over 155,000 metric tons.
-
Glass and ceramic materials held the highest share of the market in 2004, approximately 18.5%. Permanent magnets overtook this place in 2005 with almost 19% of the total market. This sector will maintain this position through the forecast period, crossing 32,000 metric tons in 2010 at an AAGR of 12.2%.
-
NiMH batteries held the highest AAGR with 30.5%, reaching over 27,000 metric tons in 2010. The second-highest growth rate through the forecast period was phosphors at 13.4%.
Report Highlights
-
Total worldwide production of rare earths will reach 91,325 million tonnes in 2007.
-
Asia, excluding Japan, will have the fastest average annual growth rate (AAGR) of 4.8%.
-
Future strong growth for rare earths will be for rechargeable batteries, medical applications, sensors and dental/surgical lasers.
-
Magnetic refrigeration also will emerge as a commercial market.
Report Highlights
-
In terms of market value, the leading rare earth end use is for high power permanent magnets. In 1999, $1.2 billion worth of rare earth-containing magnets will be sold. These magnets included 25,300 tons of rare earth materials (based on rare earth oxide content). Under an optimistic market scenario, this could grow to more than $2 billion over the next 10 years.
-
In terms of tonnage, the leading rare earth application is for catalysts, including gasoline cracking catalysts and air pollution abatement catalysts. In 1999, this represents a 30,000-ton market. This market is stable, and little growth is likely.
-
The fastest-growing market could be for rare earth-containing room temperature superconductors. From a commercial market of essentially zero, the rare earth-containing superconductor market in 1999 should be on the order of $25 million. Over the next 5 years, under an optimistic scenario, this could grow to a $200 million market. By 2009, $0.5 billion worth of rare earth-containing superconductors could be sold. In terms of tonnage, this could mean a 200-ton market within the 10-year scope of this report.
Related Reports
Medical Magnetic Resonance Imaging (MRI): Technologies and Global Markets
The global market for medical magnetic resonance imaging (MRI) is expected to grow from $7.2 billion in 2023 and projected to reach $9.8 billion by the end of 2028, at a compound annual growth rate (CAGR) of 6.4% during the forecast period of 2023 to 2028.
Electronic Chemicals and Materials: The Global Market
The global electronic chemicals and materials market should reach $76 billion by 2027 from $59.4 billion in 2022 at a compound annual growth rate (CAGR) of 5.0% for the forecast period of 2022 to 2027.
High-performance Ceramic Coatings: North American Markets and Technologies
The North American market for high-performance ceramic coatings is estimated to increase from $1.7 billion in 2022 to over $2.1 billion by 2027, at a compound annual growth rate (CAGR) of 5.0% during the forecast period of 2022-2027.
Sensors: Technologies and Global Markets
The global market for sensors is estimated to grow from $156.6 billion in 2021 to reach $249.6 billion by 2026 at a compound annual growth rate (CAGR) of 9.8% during the forecast period of 2021-2026.
Recent Reports
Global Aircraft Recycling Market
The global market for aircraft recycling is expected to grow from $4.7 billion in 2023 and projected to reach $9.7 billion by the end of 2028, at a compound annual growth rate (CAGR) of 15.8% during the forecast period of 2023-2028.
Global Recycled Concrete Market
The global market for recycled concrete is expected to grow from $11.1 billion in 2023 and is projected to reach $17.4 billion by the end of 2028, at a compound annual growth rate (CAGR) of 9.3% during the forecast period of 2023 to 2028.
Global Bio-based Leather Market
The global market for bio-based leather is estimated to increase from $668.6 million in 2023 to reach $902.4 million by 2028, at a compound annual growth rate (CAGR) of 6.2% from 2023 through 2028.
Global Textile Recycling Market
The global market for textile recycling is expected to increase from $8.0 billion in 2023 to $11.1 billion by the end of 2028, with a compound annual growth rate (CAGR) of 7.0% during the forecast period of 2023-2028.
Global 3D Printing High-Performance Plastics Market
The report provides an overview of the global 3D printing high-performance plastics market and its related segment. The report has been segmented based on type, technology, end-user, and region. Using 2022 as the base year, the report provides estimated market data for 2023 through 2028. The report examines the current trends, market drivers, and challenges within the 3D printing high-performance plastics market.
Top Trending Reports
Cell and Gene Therapy Tools, and Reagents: Global Markets
The global market for cell and gene therapy tools and reagents is estimated to grow from $8.3 billion in 2022 to $13.7 billion in 2027, with a compound annual growth rate (CAGR) of 10.6% for the period of 2022-2027.
ESG Trends in Chemical Industry
This report focuses on the ESG trends in the chemical industry and evaluates the ESG implementation including current and future potential. The report utilizes various databases, including sustainability reports, annual reports, and other indicators used to develop the current market. The study provides detailed information on the main factors influencing ESG growth in the chemical industry. It enables the reader to understand the industry in general while also providing insight into the inter-relationship between ESG and the sustainable chemical industry. The report describes market growth, developing trends, industry leaders, and applications of ESG implementation in the chemical industry.
Digital Pathology: Technologies and Global Markets
The global digital pathology market is estimated to increase from $5.9 billion in 2022 to reach $10.7 billion by 2027, at a compound annual growth rate (CAGR) of 12.5% from 2022 through 2027.
Smartphone-Based Patient Monitoring: Global Market
The global smartphone-based patient monitoring market should reach $21.5 billion by 2027 from $6.8 billion in 2022 at a compound annual growth rate (CAGR) of 25.9% for the forecast period of 2022 to 2027.
Non-Fungible Tokens (NFT): Global Market
The global NFTs market should reach $37.6 billion by 2022 and $125.6 billion by 2027, with a compound annual growth rate (CAGR) of 27.3% during the forecast period of 2022-2027.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More