Rare Earth Metals Market to Grow at 14% as Permanent Magnets See Demand Rising to 2019

Rare Earth Deposits & Mining / Rare Earth Exploration, Mining, Processing, & Uses

Date posted: 01/04/16

The global rare earth metal market is evincing intense interest from various market players because of its growth prospects with a rise in production capacities across the world as governments try to secure and leverage these scarce resources. This expansion in the supplier base will drastically change the supplier landscape and is expected to lead to a softening of prices going forward. Complete report on rare earth metals market spread across 99 pages, analyzing 5 major companies and providing 43 data exhibits is now available at.. http://www.reportsnreports.com/reports/450181-global-rare-earth-metals-market-2015-2019.html. Market research analysts predict the rare earth metals market to grow at a rate of 14% during the forecast period. According to the Global Rare Earth Metals Market 2015 to 2019 report, increasing use of rare earth metals in the wind energy sector and NiMH batteries stand as the prominent ones. Rare-earth elements are widely used in the manufacture of magnets for wind-turbine generators and for the electrodes in metal-hydride batteries. The rare earth metals are used in NiMH batteries where neodymium, praseodymium and lanthanum are used in combination with nickel, cobalt and aluminium. These batteries are powerful, light and occupy less space when compared to the conventional lead and lithium batteries. Recycling of rare earth metals from electronic wastes is gaining prominence and is expected to contribute to the market growth during the forecast period. The recycling process is being adopted by nations such as Germany, France and Japan that have limited reserves but high consumptions. Segmentation by application and analysis of permanent magnets, battery alloys, catalysts and ceramics. The technological advances being made in magnetic resonance imaging and superconductivity is expected to drive the growth of this segment until the end of 2019. The report offers an analysis of each of the following segments and discusses its impact.