Rare-Earth Metals Market Size to Hit USD 13.52 Bn by 2030, North America Leads with 12.4% CAGR

The global Rare-Earth Metals Market Size is witnessing significant growth, driven by the rising demand for electric vehicles (EVs), green technologies, and advanced industrial applications. Valued at USD 5.96 billion in 2023, the market is expected to reach US$ 13.52 billion by 2030, registering a CAGR of 12.4% from 2024 to 2030.

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Country-Specific Market Trends and Developments:

Opportunities for Rare-Earth Metals in Vietnam:

Vietnam is starting to play a significant role in the world market for rare earth elements. It provides a significant opportunity for the mining and processing industries due to its abundant rare earth metal reserves. International investors and recent joint ventures like Vinacomin are concentrating on increasing the nation's export potential.

The Rise of Rare-Earth Metals in Thailand:

As a new centre for processing rare-earth metals, Thailand is gaining popularity. To meet the demands of the green-tech industry, the Thai Metal Trade has partnered with foreign companies to expand its refining capacity.

Market Trends for Rare-Earth Metals in Japan:

Japan is still at the forefront of rare-earth metal technology, particularly in electrical devices. Hitachi Metals' ability to produce premium magnets for electric car motors has increased as a result of recent acquisitions with smaller businesses.

South Korea's Rare-Earth Metals Consolidation:

To ensure a steady supply of rare-earth metals necessary for its tech sector, South Korea is strengthening its position by investing in recycling technologies and working with international firms like POSCO.

Singapore's Update on Rare-Earth Metal:

Taking advantage of its sophisticated infrastructure, Singapore has concentrated on growing its trade in rare-earth metals. A sustainable way to satisfy the increasing demand is provided by Trafigura's recent construction of a rare-earth metal recycling facility.

Growth of Rare-Earth Metals in the US:

Due to a boom in the production of electric vehicles, rare-earth metals are predicted to expand at a significantly higher rate in the United States. Businesses such as MP Materials are constructing the nation's biggest rare-earth mining project in order to serve the domestic market.

Opportunities for Rare-Earth Metals in China:

With robust state-sponsored programs, China continues to be the world's leading producer of rare-earth metals. Companies like China Northern Rare Earth Group will have an advantage in global supply chains because to recent legislative measures that are intended to boost local processing capabilities.

The Growth of Rare-Earth Metals in Austria:

Austria is making large investments in initiatives involving the extraction and recycling of rare earth elements. To lessen the impact on the environment, businesses like Linz AG are leading the way in research into sustainable mining techniques.

Trends in the German Rare-Earth Metal Market:

Germany is diversifying its rare-earth sources, hoping to lessen dependent on China. Recent investments by BASF and Volkswagen in rare-earth processing plants have increased its industrial capabilities.

Rare-Earth Metal Prospects in France:

By establishing alliances with African countries that possess abundant rare-earth materials, France is improving its capacity for domestic production. To keep up with its increasing demand, Areva has signed new contracts with regional vendors.

Growth of Rare-Earth Metals in Italy:

Due to its contributions to renewable energy and high-performance motors, Italy's rare-earth metal sector is expanding. Notable investments are being made in the sustainable production of rare earth metals by firms such as Fiat.

Trends in Rare-Earth Metal in Spain:

Companies like Grupo Ferrovial are investing in rare-earth extraction from waste materials as part of Spain's focus on recycling and green technologies.

The UK's Update on Rare-Earth Metal:

The UK is trying to create a rare-earth supply chain that is more self-sufficient and sustainable. Businesses like Johnson Matthey are at the forefront of metal extraction operations, which are being supported by UK government efforts.

Canada’s Rare-Earth Metal Consolidation:

Rare Earth Elements Ltd. is working with foreign companies to expand its market share, and Canada is investing in environmentally friendly mining and refining technology.

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Rare-Earth Metals Market Segmentation:

by Product

Cerium

Dysprosium

Erbium

Europium

Gadolinium

Holmium

Lanthanum

Lutetium

Others

Cerium, Dysprosium, Erbium, Europium, Gadolinium, Holmium, Lanthanum, Lutetium, Neodymium, Praseodymium, Promethium, Samarium, Scandium, Terbium, Thulium, Ytterbium, and Yttrium are the sub-segments of the Rare-Earth Metals Market based on product. In 2023, the cerium segment had the biggest market share, accounting for 42.8%. In the automobile industry, cerium is utilised as a catalyst in catalytic converters in exhaust systems to lower emissions. Nickel-metal hydride (NiMH) batteries also include it. The rising demand for hybrid cars is anticipated to positively affect the demand for rare earth elements during the projected period.

by Application

Magnets

Catalysts

Metallurgy

Polishing

Glass

Phosphors

Ceramics

Other

The rare-earth metals market is divided into several segments based on their respective applications, including Magnets, Catalysts, Metallurgy, Polishing, Glass, Phosphors, and Ceramics. In 2023, the magnet segment had the biggest share. Computer hard drives, linear actuators, servo motors, speakers, and sensors are just a few of the many devices that use them. The use of rare earth elements is anticipated to increase during the projected period due to growing demand for magnets in consumer electronics, turbines, and automobiles.

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Rare-Earth Metals Market Key Players:

The report identifies leading players in the Plastic Fasteners market and examines their strategies for increasing market share. It explores the upcoming industry applications and trends that will shape the market's future, along with the key challenges and opportunities faced by businesses in the sector.

1. Lynas Corporation

2. Alkane Resources

3. Arafura Resources

4. China Minmetals Rare

5. Avalon Advanced Materials

6. Iluka Resource

7. Canada Rare Earth

8. Shin-Etsu Chemical Co. Ltd.

9. China Northern Rare Earth

10. Molycorp Inc

11. Rare Element Resources

12. Eutectix

13. Indian Rare Earths

14. Great Western Minerals

15. Frontier Rare Earths.

16. Greenland Minerals & Energy

17. Ucore Rare Metals Inc.

18. Medallion Resources Ltd

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Key Offerings:

Market Size & Forecast: The report provides a detailed analysis of past market size (2018-2022) and forecasts market size and share by segments from 2024 to 2030.

Competitive Landscape: Profiles of major players are presented with strategic perspectives, offering insights into their market positions and growth strategies.

Market Dynamics: In-depth analysis of growth drivers, restraints, opportunities, and key trends in each region.

SWOT & PESTLE Analysis: A comprehensive review of macroeconomic factors affecting the market and the strategic positioning of players.

Value Chain & Supply Chain Analysis: Detailed insights into the operational and strategic flows within the Plastic Fasteners industry.

Strategic Insights for Growth

Maximize Market Research’s findings are a valuable resource for businesses and investors looking to strengthen their position in the Plastic Fasteners market. With insights into competitive benchmarking, market opportunities, and legal aspects by region, the report presents strategies for sustainable growth. Additionally, the study includes actionable recommendations based on a thorough understanding of the market landscape.

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