The global rare earth metals market size is estimated to reach USD 32 Billion by 2030.
The global rare earth metals market is estimated to expand at a CAGR of 10.2% through 2030.
Many rechargeable batteries are made of compounds from rare earth metals. Charger demand is expected to drive market growth for portable electronic devices such as cell phones, readers, tablets, and cameras. The global rare earth metals market is anticipated to grow steadily during the forecast period.
Asia Pacific contributed a dominating share to the global rare earth metal market. The rare earth metal processors and customers in the region, the presence of the largest rare earth reserve is projected to further raise the market demand of rare earth metals.
Based on metal type, the rare earth metals market is segmented into lutetium, neodymium, praseodymium, promethium, samarium, scandium, terbium, thulium, ytterbium, yttrium, cerium, dysprosium, erbium, europium, gadolinium, holmium, lanthanum and others.
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