Browse in-depth TOC on “Rare-Earth Metals Market”
324 – Tables
52 – Figures
303 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=121495310
Praseodymium Oxide type segment accounted for the second highest CAGR by volume during the forecast period.
Praseodymium is a soft, silvery metal initially used for creating a yellow-orange stain in ceramics. While still used to color certain glasses and gems, its main application is in rare-earth magnets. Praseodymium is also used in high-strength metals for aircraft engines and as flint for fire starters. Known for its magnetic, electrical, chemical, and optical properties, it occurs at an average of eight parts per million, primarily sourced from the mineral bastnaesite in China and the US. Praseodymium’s excellent properties make it vital in a range of applications, including its use with neodymium to create super-strong permanent magnets for clean energy applications. It forms high-strength alloys with magnesium for aircraft use and serves as a glass additive for its characteristic yellow color. Praseodymium oxide is also employed as a catalyst in producing plastics and polyethylene products like soda bottles, bubble wrap, and milk packaging.
Phosphors application segment accounted for the second highest CAGR by value during the forecast period.
Phosphors is crucial for applications such as cathode ray tube displays and fluorescent lamps, require specific light colors. Europium, terbium, and yttrium are key elements in this sector, converting radiation into light of desired hues. REO phosphors (Rare Earth Oxide phosphors) are used in instrument panels for backlighting, while phosphor coatings can tailor fluorescent lamp emissions to any required lighting. The lighting industry can handle high REO prices, which may impact its economics. Demand for REO phosphor products is expected to rise as countries like the U.S., Canada, China, and the European Union phase out incandescent lamps in favor of fluorescent and LED lamps due to government policies.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=121495310
North America is projected to be the second largest region in terms of value during the forecast period.
The rare-earth metals market in North America is driven by technological advancements in electronics and telecommunications, the growing renewable energy sector, and the significant defense and aerospace industries. Increased demand for rare-earth metals stems from the expanding electric vehicle market and the medical device industry. Additionally, efforts to tap domestic reserves and reduce reliance on imports have driven interest and investment in the market. Supportive government initiatives and policies aimed at promoting advanced manufacturing and securing supply chains also contribute to the market’s growth.
Market Players
Major companies such as Lynas Rare Earths Ltd. (Australia), Australian Strategic Materials Ltd. (Australia), Arafura Rare Earths (Australia), China Rare Earth Holdings Limited (China), Avalon Advanced Materials Inc. (Canada), Bataou HEFA Rare Earth Co. Ltd (China), Canada Rare Earth Corporation (Canada), Northern Minerals Limited (Australia), MP Materials (US), Shenghe Resources Hording Co., Ltd (China) and other leading companies in rare earth metal market.
Request Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=121495310
Browse Adjacent Market: Mining, Minerals and Metals Market Research Reports
Related Reports:
Rare Earth Metals Leaching Chemicals Market – Global Forecast to 2027
Rare Earth Metals Recycling Market – Global Forecast to 2026
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/rare-earth-metals-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/rare-earth-metals.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
SOURCE MarketsandMarkets
