Market Overview:
Rare earth elements (REE) are a group of seventeen chemical elements in the periodic table, specifically the fifteen lanthanides plus yttrium and scandium. REEs are used in a variety of applications such as magnets, catalysts, metallurgy, polishing agents, glass production and phosphors. The global light rare earth element (LREE) market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth is attributed to the increasing demand for LREEs from various end-use industries such as automotive, electronics and renewable energy. The global LREE market has been segmented on the basis of type into lanthanum, cerium, praseodymium neodymium,, promethium,, samarium europium gadolinium . Lanthanum held the largest share in 2017 owing to its widespread use in automotive batteries and catalysts. Cerium was second-largest type segment due to its usage as an additive in fuel cells and flue gas desulfurization systems . Praseodymium was third-largest type segment due to its growing demand for permanent magnets application globally . Neodymium was fourth-largest type segment due high demand from electric vehicles industry .
Product Definition:
The light rare earth elements are a set of six elements that are considered to be the lightest members of the rare earth element family. These elements include scandium, yttrium, lanthanum, cerium, praseodymium, and neodymium. The primary use for these elements is in the production of magnets. They are also used in other applications such as glass and metal polishing, pharmaceuticals, and catalysts.
Lanthanum:
Lanthanum or La(3+), is a chemical element which occurs in several minerals including cerite, coltan, and monazite. It has an appearance like dark brown powder and has a sweetish odor. Lanthanum is used for manufacturing electronic products such as disc brakes, power windows & sunroofs, catalytic converters & oxygen sensors along with other automotive components such as fuel pumps & starter motors.
Cerium:
Cerium is a chemical element that occurs in nature as the oxide layer on the soil surface. It is a member of the lanthanide series and was first discovered in 1803. Cerium and other light rare earth elements (LREE) are used for numerous applications such as phosphors, lighting, electronic devices, glass windows, lasers etc.
Application Insights:
The market is segmented by application into magnets, catalysts, metallurgy, polishing, glass phosphors ceramics and others. The magnets segment accounted for the largest share in 2015 and this trend is expected to continue over the forecast period. The growth of various sectors such as electronics & IT; energy; automotive & transportation; medical equipment & devices are contributing to the growth of global light rare earth elements market.
Ceramics was one of the fastest-growing segments with a CAGR around 10% from 2016 to 2030 owing to increasing demand from China and India where ceramics industry has witnessed tremendous development in past few years. Neodymium magnet used in hard disk drives contains lanthanum which is one of the key raw materials for manufacturing these disks along with neodymium iron garnet (NdFeB) material which makes hard disks super strong yet lightweight compared to traditional hard disks that use steel as a base material.
Regional Analysis:
Asia Pacific dominated the global market in 2017. The region is expected to witness a CAGR of XX% over the forecast period, owing to high product demand from various end-use industries such as magnets, catalysts and metallurgy. China is estimated to be the major consumer in this region on account of rapid industrialization and increasing per capita income levels coupled with government support for domestic rare earth mining projects aimed at reducing dependency on imports from other countries.
China was followed by Asia Pacific in terms of consumption due to its large magnet production base along with growing automobile industry that requires high quality magnetic materials for manufacturing batteries as well as electric motors. Neodymium, promethium, samarium and europium are primarily mined from China while cerium is extracted mostly through recycling processes since it occurs naturally occurring in low quantities mainly associated with background radiation found throughout the world's crustal plates resulting into low availability for extraction purposes; thus making it a rare commodity.
Growth Factors:
- Increasing demand from the electronics and automotive industries
- Growing popularity of electric vehicles
- Rising demand for rare earth elements in renewable energy technologies
- Stringent environmental regulations worldwide
- Technological advancements in the extraction and refining of rare earth elements
Scope Of The Report
Report Attributes
Report Details
Report Title
Light Rare Earth Elements Market Research Report
By Type
Lanthanum, Cerium, Praseodymium, Neodymium, Promethium, Samarium, Europium, Gadolinium
By Application
Magnets, Catalysts, Metallurgy, Polishing, Glass, Phosphors, Ceramics, Others
By Companies
China Minmetals Corporation, CHALCO, BAOGANG Group, Xiamen Tungsten, Guangdong Rising, China Southern Rare Earth Group, China Rare Earth Holdings, Arafura, Avalon Rare Metals, Indian Rare Earths, Lynas, Greenland Minerals & Energy, Rare Element Resources, Molycorp, Steenkampskraal (Anglo American), Frontier Rare Earths
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Light Rare Earth Elements Market Report Segments:
The global Light Rare Earth Elements market is segmented on the basis of:
Types
Lanthanum, Cerium, Praseodymium, Neodymium, Promethium, Samarium, Europium, Gadolinium
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Magnets, Catalysts, Metallurgy, Polishing, Glass, Phosphors, Ceramics, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- China Minmetals Corporation
- CHALCO
- BAOGANG Group
- Xiamen Tungsten
- Guangdong Rising
- China Southern Rare Earth Group
- China Rare Earth Holdings
- Arafura
- Avalon Rare Metals
- Indian Rare Earths
- Lynas
- Greenland Minerals & Energy
- Rare Element Resources
- Molycorp
- Steenkampskraal (Anglo American)
- Frontier Rare Earths
Highlights of The Light Rare Earth Elements Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lanthanum
- Cerium
- Praseodymium
- Neodymium
- Promethium
- Samarium
- Europium
- Gadolinium
- By Application:
- Magnets
- Catalysts
- Metallurgy
- Polishing
- Glass
- Phosphors
- Ceramics
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Light Rare Earth Elements Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Light rare earth elements are a group of 17 elements that have relatively low concentrations in the Earth's crust. These elements are typically found in minerals and can be extracted from the ground.
Some of the major players in the light rare earth elements market are China Minmetals Corporation, CHALCO, BAOGANG Group, Xiamen Tungsten, Guangdong Rising, China Southern Rare Earth Group, China Rare Earth Holdings, Arafura, Avalon Rare Metals, Indian Rare Earths, Lynas, Greenland Minerals & Energy, Rare Element Resources, Molycorp, Steenkampskraal (Anglo American), Frontier Rare Earths.
The light rare earth elements market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Light Rare Earth Elements Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Light Rare Earth Elements Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Light Rare Earth Elements Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Light Rare Earth Elements Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Light Rare Earth Elements Market Size & Forecast, 2020-2028
4.5.1 Light Rare Earth Elements Market Size and Y-o-Y Growth
4.5.2 Light Rare Earth Elements Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Lanthanum
5.2.2 Cerium
5.2.3 Praseodymium
5.2.4 Neodymium
5.2.5 Promethium
5.2.6 Samarium
5.2.7 Europium
5.2.8 Gadolinium
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Magnets
6.2.2 Catalysts
6.2.3 Metallurgy
6.2.4 Polishing
6.2.5 Glass
6.2.6 Phosphors
6.2.7 Ceramics
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Light Rare Earth Elements Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Light Rare Earth Elements Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Lanthanum
9.6.2 Cerium
9.6.3 Praseodymium
9.6.4 Neodymium
9.6.5 Promethium
9.6.6 Samarium
9.6.7 Europium
9.6.8 Gadolinium
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Magnets
9.10.2 Catalysts
9.10.3 Metallurgy
9.10.4 Polishing
9.10.5 Glass
9.10.6 Phosphors
9.10.7 Ceramics
9.10.8 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Lanthanum
10.6.2 Cerium
10.6.3 Praseodymium
10.6.4 Neodymium
10.6.5 Promethium
10.6.6 Samarium
10.6.7 Europium
10.6.8 Gadolinium
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Magnets
10.10.2 Catalysts
10.10.3 Metallurgy
10.10.4 Polishing
10.10.5 Glass
10.10.6 Phosphors
10.10.7 Ceramics
10.10.8 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Lanthanum
11.6.2 Cerium
11.6.3 Praseodymium
11.6.4 Neodymium
11.6.5 Promethium
11.6.6 Samarium
11.6.7 Europium
11.6.8 Gadolinium
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Magnets
11.10.2 Catalysts
11.10.3 Metallurgy
11.10.4 Polishing
11.10.5 Glass
11.10.6 Phosphors
11.10.7 Ceramics
11.10.8 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Lanthanum
12.6.2 Cerium
12.6.3 Praseodymium
12.6.4 Neodymium
12.6.5 Promethium
12.6.6 Samarium
12.6.7 Europium
12.6.8 Gadolinium
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Magnets
12.10.2 Catalysts
12.10.3 Metallurgy
12.10.4 Polishing
12.10.5 Glass
12.10.6 Phosphors
12.10.7 Ceramics
12.10.8 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Lanthanum
13.6.2 Cerium
13.6.3 Praseodymium
13.6.4 Neodymium
13.6.5 Promethium
13.6.6 Samarium
13.6.7 Europium
13.6.8 Gadolinium
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Magnets
13.10.2 Catalysts
13.10.3 Metallurgy
13.10.4 Polishing
13.10.5 Glass
13.10.6 Phosphors
13.10.7 Ceramics
13.10.8 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Light Rare Earth Elements Market: Competitive Dashboard
14.2 Global Light Rare Earth Elements Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 China Minmetals Corporation
14.3.2 CHALCO
14.3.3 BAOGANG Group
14.3.4 Xiamen Tungsten
14.3.5 Guangdong Rising
14.3.6 China Southern Rare Earth Group
14.3.7 China Rare Earth Holdings
14.3.8 Arafura
14.3.9 Avalon Rare Metals
14.3.10 Indian Rare Earths
14.3.11 Lynas
14.3.12 Greenland Minerals & Energy
14.3.13 Rare Element Resources
14.3.14 Molycorp
14.3.15 Steenkampskraal (Anglo American)
14.3.16 Frontier Rare Earths
