Research and Markets: Global Rare Earth Market Expected to Witness High Growth by Volume and Reach an Estimated 192 Thousand Tons by 2018
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/kfj5bx/global_rare_earth) has announced the addition of the "Global Rare Earth Industry 2013-2018: Trends, Forecast and Opportunity Analysis" report to their offering.
“Global Rare Earth Industry 2013-2018: Trends, Forecast and Opportunity Analysis”
The global rare earth industry is growing at a remarkable rate and is expected to depict the same growth momentum in near future. The use of rare earth material is surging in applications where power savings, reduction of carbon emission, and other performance benefits are quite difficult. There is a tremendous growth in demand due to increasing penetration of rare earths in myriad of applications. The market is expected to witness high growth by volume and reach an estimated 192 thousand tons by 2018.
Rare earth elements are used in a variety of markets such as catalysts, phosphors, ceramics, glass, metal alloys, magnets, polishing, and others.
Asia Pacific (APAC) is the top region in terms of total rare earth material consumption due to rapidly increasing demand in China which accounts for approximately 60% of global rare earth consumption. North America (NA) and Europe; however, saw average growth rate due to increased use of hybrid electric vehicles and low carbon technologies. Increased sales of consumer electronics devices, such as smartphones, laptops, LED TVs, etc. helped to boost the demand for rare earth material in the APAC region, whereas growing effort for low carbon technologies in North America and Europe played major role in the growth of rare earth market.
The author indicates that remarkable differences in growth potential among the application markets and/or regions; however, exist and should yield better than average returns for suppliers who are well-positioned in them. The wide number and variety of rare earth products and applications under development is a positive factor for continued growth of rare earth and helps to capture the market share from competing materials. Alignment of suppliers through collaborative activities or other support of those who are pursuing such developments should pay dividends in the long run.
The report includes regional (NA, Europe, APAC, and ROW) analysis of rare earth market for the fast five years (2007-2012) and it also gives insights into the growth and opportunities of those regions.
For more information visit http://www.researchandmarkets.com/research/kfj5bx/global_rare_earth
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