According to HTF Market Intelligence, the global Rare Metals market is valued at USD  Million in 2024 and estimated to reach a revenue of USD  Million by 2031, with a CAGR of 8.7% from 2024 to 2031.

Rare Metals Market Overview

Rare metals play important role In the economic growth of the country as they are used in the production of electronics, communication networks, and military weapons. China holds the largest market share as a supplier of rare metals accounts for over 60% of the global market share. Total 17 rare metals are listed in the periodic table which is found In earth crust which has numerous application across industries such as defense, nuclear energy, and others.

Some of the companies listed in the study from the complete survey list are Luka Resources Limited (Australia), Lynas Corporation, Ltd. (Australia), Greenland Minerals and Energy (Greenland), Alkane Resources Ltd. (Australia), Canada Rare Earth Corporation (Canada), China Minmetals Rare Earth Co., Ltd (China), Ucore Rare Metals Great Western Minerals Group (Canada), Vale SA (Brazil), Avalon Rare Metals (Canada), Quest Rare Metals (Canada), Frontier Rare Earths / Kores (South Africa.

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Market Trends

Growing Consumer Goods and Automotive Industry

 Increasing Security Services across the Globe

Market Drivers

Increasing Low Carbon Technologies

Biosorption Tool for Healing Of Rare Metals

Market Opportunities:

Adoption for Low Emission Radioactive Technologies.

Emphasizing on Recycling and Reuse of Rare Metals

Rare Metals Market Segmentation

The Rare Metals Market is Segmented by Application (Magnets, Colorants, Alloys, Optical Instruments, Catalysts, Others) by Type (Cerium, Dysprosium, Erbium, Europium, Gadolinium, Holmium, Lanthanum, Lutetium, Neodymium, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA)

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