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Rare Earth Metals Market Share

  • Report ID: GMI2303
  • Published Date: Oct 2024
  • Report Format: PDF

Rare Earth Metals Market Share

Companies include, Linde Ucore Rare Metals Inc. is focused on developing its Bokan-Dotson Ridge project in Alaska, which aims to produce high-purity rare earth elements, addressing the growing demand for domestic sources in North America. Arafura Resources Limited is advancing its Nolans project in Australia, which will supply key rare earths like neodymium and praseodymium, vital for clean energy technologies.
 

Iluka Resources Limited is leveraging its expertise in mineral sands to explore rare earth extraction from its Australian operations, emphasizing sustainable practices and environmental responsibility. Lynas Corporation is one of the largest producers of rare earths outside China, operating a processing facility in Malaysia and expanding its production capabilities to meet global demand. Baotou Jinmeng Rare Earth Co. plays a crucial role in the Chinese market, focusing on the production and processing of various rare earth metals, thus contributing significantly to the global supply chain.
 

Rare Earth Metals Market Companies

Major players operating in the rare earth metals industry are:

  • Arafura Resources Ltd
  • Alkane Resources Ltd
  • Baotou Jinmeng Rare Earth Co
  • Canada Rare Earth Corporation
  • China Minmetals Rare Earth Co., Ltd
  • Greenland Minerals and Energy Ltd
  • Iluka Resources Limited
  • Indian Rare Earths Limited
  • Lynas Corporation Ltd.
  • Northern Minerals Limited
  • Rising Nonferrous Metals Co., Ltd
Authors: Kiran Pulidindi, Manish Dhiman

Frequently Asked Questions (FAQ) :

The global market size for rare earth metals was valued at USD 15.3 billion in 2023 and is expected to reach USD 30.1 billion by 2032, driven by a CAGR of over 10.8% from 2024 to 2032.

The magnet segment held a 26.7% market share in 2023, amounting to USD 4.2 billion, and is projected to grow at a 9% CAGR from 2024 to 2032, driven by the increasing demand for high-performance, lightweight solutions in electric vehicles and renewable energy systems.

U.S. market is projected to achieve USD 3.4 billion by 2032, driven by a CAGR of 11% from 2024 to 2032, fueled by increased domestic demand and strategic initiatives to reduce reliance on foreign supplies.

Major players in the industry include Arafura Resources Ltd, Alkane Resources Ltd, Baotou Jinmeng Rare Earth Co, Greenland Minerals and Energy Ltd, Iluka Resources Limited, Indian Rare Earths Limited, and Lynas Corporation Ltd.

Rare Earth Metals Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 172
  • Countries covered: 16
  • Pages: 200
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