Mercado mundial de tierras raras: tendencias de la industria y pronóstico hasta 2031

Análisis y tamaño del mercado de tierras raras

El mercado de tierras raras ayuda a la producción de imanes permanentes, en particular imanes basados ​​en neodimio. Estos imanes son componentes vitales en numerosas tecnologías, incluidos los motores de vehículos eléctricos, las turbinas eólicas y la electrónica de consumo . Las excepcionales propiedades magnéticas de los metales de tierras raras, como el neodimio, permiten la creación de imanes compactos, ligeros y potentes esenciales para la conversión y transmisión eficiente de energía. A medida que la demanda de vehículos eléctricos y fuentes de energía renovables sigue aumentando, la necesidad de metales de tierras raras en la producción de imanes sigue siendo crítica, lo que impulsa el crecimiento en el mercado global.

El tamaño del mercado mundial de metales de tierras raras se valoró en USD 7,58 mil millones en 2023 y se proyecta que alcance los USD 17,66 mil millones para 2031, con una CAGR del 11,15% durante el período de pronóstico de 2024 a 2031. Además de la información sobre escenarios de mercado como el valor de mercado, la tasa de crecimiento, la segmentación, la cobertura geográfica y los principales actores, los informes de mercado seleccionados por Data Bridge Market Research también incluyen un análisis experto en profundidad, producción y capacidad por empresa representada geográficamente, diseños de red de distribuidores y socios, análisis detallado y actualizado de tendencias de precios y análisis de déficit de la cadena de suministro y la demanda.

Alcance del informe y segmentación del mercado

Market Definition

Rare earth metals are a group of metallic elements with unique properties, found in the Earth's crust. Despite their name, they are not particularly rare, but they are often dispersed and difficult to extract economically. These elements play a crucial role in various technologies due to their magnetic, luminescent, and catalytic properties, contributing significantly to industries such as electronics, renewable energy, and automotive.

Rare Earth Metal Market Dynamics

Drivers

• Growing Demand for High-Tech Technologies Increases the Demand for Demand for Rare Earth Metals

Rare metals, with their unique properties, are indispensable in the production of advanced electronic devices, such as smartphones, computers, and medical equipment. As societies increasingly adopt high-tech solutions to address various challenges, the demand for rare earth metals continues to surge. This trend propels market growth as industries seek reliable and efficient sources of these essential elements to meet the evolving needs of modern technology.

• Increase in Sales of Electric Vehicles (EVs) due to Growing Environmental Concerns

Permanent magnet motors, crucial for EV propulsion systems, heavily rely on rare earth metals such as neodymium and dysprosium for their magnetic properties. As the adoption of EVs accelerates globally, driven by environmental concerns and government incentives, the demand for rare earth metals for motor production is poised to surge. This rising demand not only fuels the growth of the rare earth metal market but also underscores the critical importance of these metals in advancing sustainable transportation solutions.

Opportunities

• Expanding Renewable Energy Sector due to Heightened Permanent Magnet Production

Rare earth metals such as neodymium and dysprosium are crucial components in the production of permanent magnets used in wind turbines and electric vehicle motors, enabling efficient power generation and transmission. Additionally, rare earth metals are essential in the manufacturing of catalysts for hydrogen fuel cells, further supporting the renewable energy transition. As countries worldwide increasingly invest in renewable energy infrastructure to combat climate change, the demand for rare earth metals is expected to continue rising, propelling market growth in the foreseeable future.

The projected 25% increase in automotive demand for rare earth metals in 2022 aligns with the prevalence of neodymium-incorporated permanent magnet motors in approximately 85% of automakers in 2021. This surge in demand reflects the automotive industry's reliance on rare earth metals for manufacturing efficient electric vehicle motors, highlighting the pivotal role of rare earth metals in supporting the transition towards sustainable transportation solutions.

• Growing Stricter Environmental Regulations Expands the Demand for Rare Earth Metals

Stricter environmental regulations often mandate reductions in greenhouse gas emissions and promote the use of renewable energy sources, such as wind and solar power, which heavily depend on rare earth metals for their manufacturing processes. Regulations aimed at improving air and water quality stimulate the demand for rare earth metals in catalysts used in emission control systems and wastewater treatment plants. As governments worldwide intensify their focus on sustainability, the demand for rare earth metals is expected to continue growing, driven by the imperative to meet stringent environmental standards.

Restraints/Challenges

• High Production Costs Limits the Adoption of Rare Earth Metal

High production costs create a barrier to entry for new competitors, thereby consolidating the market power of existing producers. The high costs incentivize producers to invest in research and development to optimize extraction and refining processes, leading to technological advancements and increased efficiency. Moreover, these costs can drive up rare earth metals prices, which, in turn, encourage recycling initiatives and exploration for alternative sources of rare earth metals. High production costs highlight the strategic importance of securing a stable supply chain, prompting governments and industries to invest in diversification and resource development efforts to mitigate risks and ensure a steady supply of these critical materials.

• Supply Chain Vulnerability Hampers the Growth of Rare Earth Metals

The concentration of rare earth metal production in a few countries, notably China, exposes the market to geopolitical risks and trade disruptions. Instances of export restrictions or trade tensions can lead to supply shortages and price volatility, driving up demand for stable and diversified supply sources. This vulnerability prompts industry stakeholders to seek alternative supply chains and invest in diversification efforts, thereby stimulating market growth. Additionally, it underscores the strategic importance of rare earth metals in various high-tech industries, further intensifying efforts to secure sustainable and reliable sources of these critical materials.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In September 2022, Solvay's announcement to expand rare earth metal operations in La Rochelle, France, signifies a strategic move to establish a significant hub for rare earth magnets in Europe. This expansion aims to cater to the growing demand in sectors such as electric vehicles, clean energy, and electronics, aligning with the region's focus on sustainable technologies
• In August 2022, Lynas Rare Earths Ltd's plan to expand capacity at its Mt Weld mine in Western Australia, known for neodymium (Nd) and praseodymium (Pr) deposits, reflects the company's commitment to meeting increasing demand for rare earth metals. The expansion, set to commence in early 2023 and fully operational by 2024, underscores the importance of securing a stable supply chain for critical materials
• In April 2022, Iluka Resources Ltd's USD 1.2 billion investment in the Eneabba Phase 3 rare earth refinery in Western Australia demonstrates a strategic initiative to strengthen Australia's position in the downstream processing of rare earth resources. The investment aims to enhance Iluka's capabilities in producing rare earth oxides, positioning it as a key player in the global rare earth market while contributing to the country's economic development and resource sustainability

Rare Earth Metal Market Scope

The market is segmented on the basis of element and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Element

• Cerium
• Neodymium
• Lanthanum
• Dysprosium
• Terbium
• Erbium
• Europium
• Gadolinium
• Holmium
• Lutetium
• Praseodymium
• Promethium
• Samarium
• Thulium
• Ytterbium
• Yttrium
• Scandium
• Others

Application

• Catalysts
• Ceramics
• Phosphors
• Glass and Polishing
• Metallurgy
• Magnets
• Others

Rare Earth Metal Market Analysis/Insights

The market is analysed and market size insights and trends are provided by element and application as referenced above.

The countries covered in this market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa.  

North America dominates in the market due to the expansion of the automotive industry in the region has fueled demand for rare earth metals, particularly in the production of electric vehicles which heavily rely on these materials for their motors and batteries. Additionally, the rise in consumer electronics consumption has further boosted demand for rare earth metals, given their essential role in manufacturing electronic components. Moreover, the nuclear energy industry's presence in North America has contributed to the region's demand for rare earth metals, used in various applications such as reactor construction and fuel processing. These factors collectively position North America as a significant player in the global rare earth metal market.

The Asia-Pacific is expected to experience rapid market growth, driven primarily by the growing demand for rare earth metals in key applications. The rise in the usage of rare earth in magnets for electric vehicle batteries reflects the region's pivotal role in the global automotive industry's transition towards electrification. Additionally, the growing demand for rare earth in the polishing of television glass underscores the region's significance in the consumer electronics sector. These trends highlight Asia-Pacific's emergence as a critical market for rare earth metals, propelled by its robust manufacturing capabilities and expanding technological infrastructure.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Rare Earth Metal Market Share Analysis

The market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are:

• Alkane Resources Ltd (Australia)
• Arafura Rare Earths (Australia)
• Lynas Rare Earths Ltd (Australia)
• China Rare Earth Holdings Limited (China)
• Avalon Advanced Materials Inc. (Canada)
• IREL(INDIA) LIMITED (India)
• Rare Element Resources Ltd. (U.S.)
• Frontier Rare Earths Limited (Canadá)
• Corporación Canadiense de Tierras Raras (Canadá)
• Iluka Resources Limited (Australia)
• MINERALES DEL NORTE (Australia)
• Krakatoa Resources Ltd. (Australia)
• Ucore Rare Metals Inc. (Estados Unidos)
• Metales críticos de Namibia Inc. (Namibia)

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