The changing dynamics in Rare Earth Metals Market with covid-19 impact assessment
The unexpected shifts in the global markets
because of the sudden outbreak of the COVID-19 virus have brought many major
and minor tremors to industries of all sizes including the Rare Earth Metals Market.
It was estimated prior to this unanticipated
outbreak that the Rare
Earth Metals Market was expected to grow at a CAGR of >5.0% by 2025. However, the gradual slowing down of industries will
undoubtedly impose limits on the previously estimated growth rate.
For a more detailed breakdown of the COVID-19
impact on the Rare Earth Metals
Market, request a free sample of the
report here:
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Cerium
oxide is the most dominant rare earth metal accounting for 38% of the market in
2015, followed by Lanthanum oxide with 24% share. Cerium oxide and Lanthanum
oxide are cheaper than other rare earth metals and are widely used in the metal
alloys, catalysts, and glass phosphors.
Top
three applications (permanent magnets, metal alloys, and catalysts), together
accounted for 60% of the global rare earth metals market in 2015 and will
continue to remain the dominant applications during the forecast period.
Permanent magnets are likely to remain the growth engine during the forecast
period driven by increasing penetration in traditional applications as well as
emerging applications.
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Asia-Pacific is expected to remain
the largest consumer of the global rare earth metals market. China owns the
largest reserves of the rare earth metals worldwide. China is both the leading
producer as well as the consumer of rare earth metals. Imposition of
restrictions on China’s export and growing rare earth metals demand within
China would create a demand supply gap in the rare earth metals market
worldwide.
The global rare earth metals market
is likely to witness significant changes in the coming years. New sources of
supply are scheduled to be developed across the globe. China, which is the
major producer of rare earth metals worldwide, is witnessing consolidation by
state owned enterprises. China owns the largest reserves of the rare earth
metals followed by Brazil. China will continue to remain the largest producer
during the forecast period.
Key Players:
There is a presence of small to large
scale producers of rare earth metals in China and worldwide. The key rare earth
metal manufacturers are Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co Ltd.,
Molycorp Inc, China Minmetals Rare Earth Co. Ltd, Great Western Minerals Group
Ltd., Alkane Resources Ltd, Arafura Resources Ltd., Lynas Corp., Avalon Rare
Metals, Canada Rare Earth Corporation, and India Rare Earth Ltd.
Features of the Report
This report
offers high-quality insights and is the outcome of detailed research
methodology comprising extensive secondary research, rigorous primary
interviews with industry stakeholders and validation and triangulation with
Stratview Research’s internal database and statistical tools.
The Rare Earth Metals Market analysis report discusses the
following heads in great detail:
- Market structure:
Overview, industry life cycle analysis, supply chain analysis
·
COVID-19 Impact Assessment
·
Market environment
analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT
analysis
·
Market trend and forecast
analysis
·
Market segment trend and
forecast
·
Competitive landscape and
dynamics: Market share, product portfolio, product launches, etc.
·
Attractive market segments
and associated growth opportunities
·
Emerging trends
·
Strategic growth
opportunities for the existing and new players
·
Key success factors
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