Rare Earth Metals Market, By Metals (Neodymium, yttrium, Dysprosium, Terbium, Europium, Cerium, Lanthanum), By Application (Catalysts, Permanent Magnets, Metallurgy & Alloy, Polishing), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

Published In : Mar 2024

Code : CMI293

Pages :110

Formats :

Excel and PDF

Industry : Advanced Materials

Market Challenges: Environmental Risk

Global rare earth metals market faces several challenges. The mining and processing of rare earth metals is an environmental risk due to the use of hazardous chemicals. Fluctuating prices and supply issues can impact the demand and costs for end products. Many rare earth reserves are controlled by China, which has imposed export quotas to domestic suppliers. This reliance on Chinese supply presents a geo-political challenge. Securing alternative sources of rare earths is difficult as mining and processing requires considerable capital and there are environmental hurdles to opening new mines.

Market Opportunities: Demands from Clean Energy and High-Tech Industries

The demands from clean energy and high-tech industries ensure opportunities for growth. Electric vehicles, wind turbines and smart devices require rare earth components in their design and manufacturing. Investments into recycling could secure a secondary supply of rare earths. Countries are exploring reserves within their borders to diversify supply.