COVID-19 Impacts: Rare Earth Metal Market will Accelerate at a CAGR of about 10% through 2020-2024 | Rising Demand for Electronic Appliances to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Jul 24, 2020--
Technavio has been monitoring the rare earth metal market and it is poised to grow by USD 5.76 billion during 2020-2024, progressing at a CAGR of about 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Rare Earth Metals Market 2020-2024 (Graphic: Business Wire)
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.Please Request Latest Free Sample Report on COVID-19 Impact
Frequently Asked Questions -
- What was the value of the rare earth metal market in 2019?
A. Technavio says that the value of the market was USD 9.36 billion in 2019 and is projected to reach USD 15.12 billion by 2024.
- At what rate is the market projected to grow during the forecast period 2020-2024?
A. Growing at a CAGR of about 10%, the market growth will accelerate in the forecast period.
- What is the key factor driving the market?
A. Rising demand for electronic appliances.
- Who are the top players in the market?
A. Alkane Resources Ltd., Arafura Resources Ltd., GREENLAND MINERALS Ltd., Hitachi Metals Ltd., Iluka Resources Ltd., Lynas Corp. Ltd., Neo Performance Materials Inc., Northern Minerals Ltd., Shin-Etsu Chemical Co. Ltd, and SHOWA DENKO K.K. are the key players in the market.
- Which region is expected to hold the highest market share?
- Based on segmentation by application, which segment is expected to witness the fastest growth in the global market?
A. Permanent magnets.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alkane Resources Ltd., Arafura Resources Ltd., GREENLAND MINERALS Ltd., Hitachi Metals Ltd., Iluka Resources Ltd., Lynas Corp. Ltd., Neo Performance Materials Inc., Northern Minerals Ltd., Shin-Etsu Chemical Co. Ltd, and SHOWA DENKO K.K. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The rising demand for electronic appliances has been instrumental in driving the growth of the market. However, the lack of skilled professionals in the mining sector might hamper the market growth.
Rare Earth Metal Market 2020-2024: Segmentation
Rare Earth Metal Market is segmented as below:
- Permanent Magnets
- Metal Alloys
- Polishing Powder
- Glass Additives
- Other Applications
- Element Type
- Light Rare Earth Metals
- Heavy Earth Metals
- Other Element Types
To learn more about the global trends impacting the future of market research, download a free sample:https://www.technavio.com/talk-to-us?report=IRTNTR43187
Rare Earth Metal Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our rare earth metal market report covers the following areas:
- Rare Earth Metal Market size
- Rare Earth Metal Market trends
- Rare Earth Metal Market industry analysis
This study identifies the rise of new production capacities as one of the prime reasons driving the rare earth metal market growth during the next few years.
Rare Earth Metal Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the rare earth metal market, including some of the vendors such as Alkane Resources Ltd., Arafura Resources Ltd., GREENLAND MINERALS Ltd., Hitachi Metals Ltd., Iluka Resources Ltd., Lynas Corp. Ltd., Neo Performance Materials Inc., Northern Minerals Ltd., Shin-Etsu Chemical Co. Ltd, and SHOWA DENKO K.K. Backed with competitive intelligence and benchmarking, our research reports on the rare earth metal market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Rare Earth Metal Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist rare earth metal market growth during the next five years
- Estimation of the rare earth metal market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the rare earth metal market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of rare earth metal market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Permanent magnets - Market size and forecast 2019-2024
- Metal alloys - Market size and forecast 2019-2024
- Catalysts - Market size and forecast 2019-2024
- Polishing powder - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Element Type
- Market segments
- Comparison by Element type
- Light rare earth elements - Market size and forecast 2019-2024
- Heavy rare earth elements - Market size and forecast 2019-2024
- Other element type - Market size and forecast 2019-2024
- Market opportunity by Element type
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Americas - Market size and forecast 2019-2024
- EMEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Alkane Resources Ltd.
- Arafura Resources Ltd.
- GREENLAND MINERALS Ltd.
- Hitachi Metals Ltd.
- Iluka Resources Ltd.
- Lynas Corp. Ltd.
- Neo Performance Materials Inc.
- Northern Minerals Ltd.
- Shin-Etsu Chemical Co. Ltd.
- SHOWA DENKO K.K.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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CONTACT: Technavio Research
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INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES
SOURCE: Technavio Research
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PUB: 07/24/2020 12:00 PM/DISC: 07/24/2020 12:01 PM