• Rare Earth Metals Market worldwide predicted to grow at 13 percent for the period 2012-2016
• Key geographies by consumption include China, Japan and other SE Asian Countries
The report talks about the rising global demand for rare earth metals, which has resulted in sharp increase of prices due to the decrease in the supply of rare earth metals from the key producing region, China. Exploration programs by companies are on to find more rare earth metal-containing mineral mines to bring down the prices.
Globally, over 250 firms are involved in the exploration and production of rare earth metal deposits. Mostly, minerals such as bastnaesite, monazite, ion-adsorption clays, xenotime, trachyte, fergusonite, apatite, loparite, parasite, and synchysite are in demand for the production of rare earth metals.
Catalyst manufacturing, accounts for 23.4 percent of the total consumption of rare earth metals in 2012. Metallurgical applications and permanent magnet manufacturing closely follows this, accounting for a composite 40 percent of the total market. In addition, the rising demand for permanent magnets used in hybrid vehicles and electronic products is a major growth driver for the Global Rare Earth Metals market. In 2012, the rare earth metals usage for polishing powders, phosphors, and glass additives manufacturing account for a consolidated 29 percent of the Global Rare Earth Metals market.
The Global Rare Earth Metals market is expected to grow in the future with many new players expected to enter this market during the forecast period. The major vendors in the Global Rare Earth Metals market operating in various regions are Molycorp, Avalon Rare Metals, Neo Material Technologies, VMS Ventures, Great Western Minerals Group, Rare Element Resources, Alkane Resources, Arafura Resources, Lynas Corporation, Inner Mongolia Baotou Steel Rare-Earth Group Hi-Tech, China Rare Earth Holdings, Jiangxi Copper, Showa Denko K.K. and Indian Rare Earths.
Speaking on this occasion, one of the senior analyst and co-author of this report said,“China with a market share of 55 percent in 2012 will continue to dominate the Global Rare Earth Metals Market till 2016, with Japan, other SE Asian countries and US closely following it.”
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of drivers, challenges, and trends of this market featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in order of importance.
TechNavio (technavio.com) is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Rare Earth Metals Market 2012-2016. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.
Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.