The rare earth metals market is expected to increase at a high CAGR of 14.6% for the next five years. North America is identified to be an upcoming rare earth metals market.
Dallas, TX -- (SBWIRE) -- 06/24/2014 -- The report ”Rare Earth Metals Market by Type (Lanthanum, Cerium, Neodymium, Praseodymium, Samarium, Europium, & Others), and Application (Magnets, Metals Alloys, Polishing, Additives, Catalysts, Phosphors, & Others) - Global Trends & Forecast to 2018” defines and segments the global rare earth metal market with analysis and forecasting of the global volume and revenue. The rare earth metals market demand will grow at a CAGR of 9% from 2013 to 2018 and reach 192,000 tons.
Browse 103 market data tables, 30 figures spread through 228 pages and in-depth TOC on “Rare Earth Metals Market”. http://www.marketsandmarkets.com/Market-Reports/rare-earth-metals-market-121495310.html
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The rare earth metals market is driven by factors such as high demand in the current and emerging applications, increasing demand of clean energy, and initiatives taken by governments and associations. The rising demand for clean technology is also a driving factor for the rare earth metals market. The overdependence on conventional forms of energy has led to increased demands for alternative sources of energy. This is likely to help grow the rare earth metals market as these form key components for relevant green applications. The factors affecting the growth of this market are the fluctuating costs of the rare earth materials and dominance of China in the rare earth metals market.
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Cerium oxide is used in almost all of the applications in significant quantities. Hence, it holds the largest market share among the rare earth metals with almost 40% of the total demand in 2013. After cerium oxide, lanthanum oxide captured a maximum share of around 23.8% in 2013. Lanthanum oxide is widely used in almost all industries such as green technology, automotive, and general industries such as electronics, constructions, and others.
The report forecasts volume and revenue of the global rare earth metals market with respect to main regions such as North America, Europe, Asia-Pacific, and Rest of the World. Major countries such as China, the U.S., Canada, Brazil, and others were analyzed.
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The report segments the global rare earth metals market by type, application, and geography. It also focuses on market share analysis and market metrics such as drivers, restraints, and opportunities. Top and local players in the global rare earth metals market have been identified and profiled.
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