The rare earth metal market is valued at approximately US $ 13.2 billion in 2019, with a CAGR growth rate of over 10% between 2021 and 2027. Increasing demand from emerging technologies such as hybrid and electric vehicles combined with propulsion The use of magnets and optics in applications will contribute significantly to market growth during the evaluation period.
A full report of Rare Earth Metals Market available at: https://www.orionmarketreports.com/rare-earth-metals-market/26408/
The global market is highly competitive owing to the presence of major players like Shin-Etsu Chemical Co. Ltd., China Minmetals Rare Earth Co. Ltd., China Northern Rare Earth (Group) High-Tech Co., Ltd., Iluka Resources Ltd, Molycorp Inc., Lynas Corporation Ltd, and Alkane Resources Ltd.
Rare Earth Metals Market- Segmentation
By Metal
• Cerium
• Dysprosium
• Erbium
• Europium
• Gadolinium
• Holmium
• Lanthanum
By End-user
• Magnets
• Colorant
• Alloy
• Optical instrument
• Catalyst
• Others
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