Dublin, Aug. 19, 2021 (GLOBE NEWSWIRE) -- The "Rare Earth Elements - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Rare Earth Elements estimated at 221.3 Thousand Tons in the year 2020, is projected to reach a revised size of 368.4 Thousand Tons by 2027, growing at a CAGR of 7.6% over the analysis period 2020-2027.
Cerium, one of the segments analyzed in the report, is projected to record a 7% CAGR and reach 144.7 Thousand Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lanthanum segment is readjusted to a revised 9% CAGR for the next 7-year period.
The U.S. Market is Estimated at 65.4 Thousand Tons, While China is Forecast to Grow at 7.1% CAGR
The Rare Earth Elements market in the U.S. is estimated at 65.4 Thousand Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 64.5 Thousand Tons by the year 2027 trailing a CAGR of 7.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 6.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.2% CAGR.
Praseodymium Segment to Record 8.5% CAGR
In the global Praseodymium segment, USA, Canada, Japan, China and Europe will drive the 8.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of 20.5 Thousand Tons in the year 2020 will reach a projected size of 36.4 Thousand Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 42.7 Thousand Tons by the year 2027.
Select Competitors (Total 36 Featured):
Alkane Resources Ltd
Arafura Resources Ltd
Arnold Magnetic Technologies
Avalon Advanced Materials Inc.
China Northern Rare Earth (Group) High-Tech Co., Ltd.
Greenland Minerals Ltd
Hitachi Metals Ltd.
Iluka Resources Limited
Indian Rare Earth Limited
Lynas Corporation Ltd
Namibia Critical Metals Inc.
Northern Minerals Ltd
Rare Element Resources Ltd.
Shin-Etsu Chemical Co., Ltd.
Ucore Rare Metals Inc.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/lihhra
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900