Full Text of " Rare Earth Elements Market Trend and 2020 Forecast"

Hexa Research Inc.

Industry Research,Custom Research & Consulting

Rare Earth Elements Market Analysis, Market Size,

Application Analysis, Regional Outlook, Competitive

Strategies and Forecasts, 2015 To 2020

Increasing permanent magnets demand is anticipated to augment global rare earth elements

market growth over the next five years. Rare earth elements are also known as rare earth metals

and belongs to a group of seventeen elements which comprise similar properties. The group

consists of fifteen lanthanide series elements and yttrium and scandium. Major elements include

lanthanum, praseodymium, cerium and Neodymium. These elements together constituted total

rare earth elements market accounting for over 74% in 2013. The elements have major

applications in technology products such as TVs, computers & tablets, nuclear batteries, super

conductors, miniature, laser repeaters, military technology, various medical devices, permanent

magnets and rechargeable batteries. These are also applied as catalysts in petroleum refining and

automotive industries and as pigments in ceramic and glass. Mostly Neodymium is used in

permanent magnet manufacturing process. Growing applications of permanent magnets in

automotive industries are expected to bolster the rare earth elements market growth.

Growing applications of rare earth elements as a metal catalyst is projected to drive the market

growth over the forecast period. Majorly lanthanum and cerium are used as catalyst in petroleum

refining and metallurgical process. Increasing petroleum and metals demand is anticipated to

surge the market growth over the next five years. Scarcity of these metals and depletion of

existing reserves is expected to hamper the global rare earth metals market growth.

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Industry Research,Custom Research & Consulting

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Major products in the market include...