High Demand for Rare Earth Materials Promotes a Robust CAGR of 7% From 2018 to 2025

London, July 23, 2019/AP-PR Newswire/Frost & Sullivan's latest analysis, Global Rare Earth Material Market, forecasts that by 2025, global growth in infrastructure development and e-Car demand is the key factor driving global growth of 5.4 billion U.S. dollars in rare earth materials. In China, Japan, Korea, the United States, Brazil and Western Europe, the demand for neodymium magnets, lanthanum and cerium based applications has increased, and the need for rare earth materials in metallurgical and battery applications has increased. Frost & Sullivan expects the market to grow at a strong CAGR of 7.0% from 2018 to 2025.

"There is a great demand for rare earth materials, especially for the production of high-end permanent magnets. The demand is characterized by niche requirements - high purity, professional rare earth material products, with extremely personalized application characteristics. The electronics, technology and automotive industries prefer these products, even if they are expensive to purchase," said Ganesh Dabholkar, senior analyst, chemicals & materials in infrastructure & mobility.

"Despite significant growth prospects, the rare earth material market is constrained by China's dominant position in reserves, product supply, project investment and consumption," Dabholkar pointed out. "There is an increasing trend in the extraction and use of rare earth materials, as well as in the research of alternative materials, recycling or the search for other low-cost rare earth products, which further hinder the growth of the market."

• < Prev
• Next >