Rare Earth Elements Market Size, Analysis, Competitive Strategies and Forecasts, 2012 to 2020

Hexa Research Inc.
Industry Research,Custom Research & Consulting

Rare Earth Elements Market Analysis, Market Size,
Application Analysis, Regional Outlook, Competitive
Strategies And Forecasts, 2012 To 2020

Increasing permanent magnets demand is anticipated to augment global rare earth elements market
growth over the next five years. Rare earth elements are also known as rare earth metals and belongs to
a group of seventeen elements which comprise similar properties. The group consists of fifteen
lanthanide series elements and yttrium and scandium. Major elements include lanthanum,
praseodymium, cerium and Neodymium. These elements together constituted total rare earth elements
market accounting for over 74% in 2013.
The elements have major applications in technology products such as TVs, computers & tablets, nuclear
batteries, super conductors, miniature, laser repeaters, military technology, various medical devices,
permanent magnets and rechargeable batteries. These are also applied as catalysts in petroleum
refining and automotive industries and as pigments in ceramic and glass. Mostly Neodymium is used in
permanent magnet manufacturing process. Growing applications of permanent magnets in automotive
industries are expected to bolster the rare earth elements market growth.
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Hexa Research Inc.
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Growing applications of rare earth elements as a metal catalyst is projected to drive the market growth
over the forecast period. Majorly lanthanum and cerium are used as catalyst in petroleum refining and
metallurgical process. Increasing petroleum and metals demand is anticipated to surge the market
growth over the next five years. Scarcity of these metals and depletion of existing reserves is expected
to hamper the global rare earth metals market growth. The expected depletion of the...