市场调查报告书
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1423172
按应用分類的稀土元素市场报告(磁铁、镍氢电池、汽车催化剂、柴油引擎、流体裂解催化剂、磷光体、玻璃、抛光粉等)和地区 2024-2032Rare Earth Elements Market Report by Application (Magnets, NiMH Batteries, Auto Catalysts, Diesel Engines, Fluid Cracking Catalyst, Phosphers, Glass, Polishing Powders, and Others), and Region 2024-2032 |
2023年全球稀土元素市场规模达到110亿美元。展望未来, IMARC Group预计到2032年市场规模将达到343亿美元,2024-2032年复合年增长率(CAGR)为13.1%。人们对稀土元素在不同领域的实用性、各种工业应用、消费性电子产品的广泛采用以及向可持续和清洁能源解决方案的转变的认识不断增强,是推动市场的一些主要因素。
稀土元素是由 15 种镧系元素以及钪和钇组成的 17 种化学元素。儘管有它们的名字,大多数稀土元素在地壳中并不是特别稀有。它们之所以“稀有”,是因为开采和提炼它们的难度很高。这些元素以其独特的磁性、催化和发光特性而闻名,这使得它们在各种高科技应用中至关重要。它们是各种产品的重要组成部分,从智慧型手机和消费性电子产品到再生能源系统和先进军事技术。
消费性电子、汽车和再生能源等各行业的重大技术创新是推动全球稀土元素市场成长的关键因素之一。稀土元素对于製造电池、磁铁和电子显示器等组件至关重要,这些组件的需求随着技术的进步而不断增长。市场也受到它们在国防应用中的作用的推动,因为这些元素对于生产用于雷达系统、喷气发动机和导弹导引系统的高性能材料至关重要。对绿色能源的日益重视也是一个主要的成长诱导因素。稀土元素对于风力涡轮机和电动车的生产至关重要,符合减少碳排放的全球永续发展目标。此外,地缘政治和贸易关係对市场产生重大影响,因为许多稀土元素供应集中在特定地区,这在供应链中造成了潜在的瓶颈。此外,政府政策,包括使用稀土元素的技术的补贴和战略储备,正在为全球市场创造积极的前景。
重大技术进步
稀土元素需求最有力的驱动因素之一是技术创新的持续步伐。这些元素在众多高科技应用中都是不可或缺的。例如,风力涡轮机中使用的强力磁铁需要钕,而混合动力和电动车电池通常使用镧。除此之外,许多电子设备(例如智慧型手机、平板电脑和笔记型电脑)都含有稀土元素,可实现更小、更有效率的组件。随着这些技术的不断发展和采用率的上升,对稀土元素的需求不断升级,这进一步推高了市场价值。
不断涌现的绿色能源倡议
环境永续性正成为世界各国政府和组织的焦点,刺激了对清洁能源技术的需求。稀土元素在该领域发挥关键作用。钕和镝等元素用于生产永久磁铁,这些永久磁铁是风力涡轮机功能不可或缺的一部分。同样,交通运输业电气化的推动也增加了对电池和电动马达中使用的稀土元素的需求。随着各国努力实现雄心勃勃的气候目标并过渡到再生能源,这些元素的市场正在蓬勃发展。
国防应用不断增加
国防应用对稀土元素的需求极大地促进了市场成长。这些要素对于各种先进军事技术来说都是不可或缺的。例如,稀土是製造精确导引弹药、雷达系统和航空电子设备的重要组成部分。它们也用于生产夜视镜和其他光学设备的专用玻璃。随着地缘政治紧张局势升级以及各国在国防能力现代化方面投入更多资金,对稀土元素的需求不断增加。军事上对高性能材料的依赖使这些元素成为战略优先事项,通常导致库存和长期采购合约。
The global rare earth elements market size reached US$ 11.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.3 Billion by 2032, exhibiting a growth rate (CAGR) of 13.1% during 2024-2032. The increasing awareness of the utility of rare earth elements across different sectors, various industrial applications, widespread adoption of consumer electronics, and the shift toward sustainable and clean energy solutions are some of the major factors propelling the market.
Rare earth elements are a group of 17 chemical elements that consist of the 15 lanthanides, along with scandium and yttrium. Despite their name, most rare earth elements are not particularly rare in the Earth's crust. What makes them "rare" is the difficulty associated with mining and refining them. These elements are known for their unique magnetic, catalytic, and luminescent properties, which make them critical in various high-technology applications. They are essential components in a wide array of products, ranging from smartphones and consumer electronics to renewable energy systems and advanced military technologies.
Significant technological innovations across various industries, including consumer electronics, automotive, and renewable energy, represent one of the key factors driving the growth of the rare earth elements market across the globe. Rare earth elements are crucial in manufacturing components like batteries, magnets, and electronic displays, whose demand is rising with technological advancements. The market is also driven by their role in defense applications as these elements are essential in producing high-performance materials used in radar systems, jet engines, and missile guidance systems. The growing emphasis on green energy is also acting as a major growth-inducing factor. Rare earth elements are vital in the production of wind turbines and electric vehicles, aligning with global sustainability goals to reduce carbon emissions. Additionally, geopolitics and trade relations significantly impact the market, as many rare earth element supplies are concentrated in specific regions, which are creating potential bottlenecks in supply chains. Moreover, government policies, including subsidies for technologies that use rare earth elements and strategic stockpiling, are creating a positive outlook for the market across the globe.
Significant technological advancements
One of the most potent drivers of demand for rare earth elements is the relentless pace of technological innovation. These elements are indispensable in a plethora of high-tech applications. For instance, the powerful magnets used in wind turbines require neodymium, while hybrid and electric vehicle batteries often employ lanthanum. In addition to this, many electronic devices, such as smartphones, tablets, and laptops contain rare earth elements that enable smaller, and more efficient components. As these technologies continue to evolve and adoption rates climb, the demand for rare earth elements is escalating, which is further driving up the market value.
Rising green energy initiatives
Environmental sustainability is becoming a focal point for governments and organizations worldwide, stimulating the demand for clean energy technologies. Rare earth elements play a critical role in this sector. Elements like neodymium and dysprosium are used in the production of permanent magnets that are integral to the function of wind turbines. Similarly, the drive for electrification of the transport sector also boosts demand for rare earth elements used in batteries and electric motors. As nations strive to meet ambitious climate targets and transition to renewable energy sources, the market for these elements is fueling.
Rising defense applications
The demand for rare earth elements in defense applications significantly contributes to the market growth. These elements are indispensable for a variety of advanced military technologies. For instance, rare earths are essential components in the manufacturing of precision-guided munitions, radar systems, and avionics. They are also used in the production of specialized glass for night-vision goggles and other optical equipment. As geopolitical tensions escalate and nations invest more in modernizing their defense capabilities, the need for rare earth elements rises. Military reliance on high-performance materials makes these elements a strategic priority, often leading to stockpiling and long-term procurement contracts.
IMARC Group provides an analysis of the key trends in each segment of the global rare earth elements market report, along with forecasts at the global and regional levels for 2024-2032. Our report has categorized the market based on application.
Magnets
NiMH Batteries
Auto Catalysts
Diesel Engines
Fluid Cracking Catalyst
Phosphers
Glass
Polishing Powders
Others
Magnets dominate the market
A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes the magnets, NiMH batteries, auto catalysts, diesel engines, fluid cracking catalyst, phosphers, glass, polishing powders, and others. According to the report, the magnets accounted for the largest market share.
Rare earth elements, particularly neodymium, dysprosium, and samarium, play a critical role in the development of high-performance magnets. These are not ordinary magnets; they offer superior magnetic properties as compared to traditional ferrite or alnico magnets. Neodymium magnets, often combined with small amounts of dysprosium to improve temperature stability, are widely used in a variety of applications requiring strong, compact magnets. In the renewable energy sector, these magnets are essential components in wind turbine generators. Their high magnetic force allows for more efficient energy conversion, thereby maximizing the electrical output. In the automotive industry, they are used in electric and hybrid vehicle motors, contributing to both power and efficiency. These magnets are also prevalent in consumer electronics like headphones, smartphones, and hard disk drives, where their small size and high magnetic strength are particularly beneficial. Additionally, they are crucial in medical technologies such as MRI machines, which rely on strong magnetic fields for imaging.
China
Japan & Northeast Asia
United States
China represents the largest market segment
The report has also provided a comprehensive analysis of all the major regional markets, which include China, Japan & Northeast Asia, and the United States. According to the report, China accounted for the largest market share.
In China, which controls a significant portion of the global supply of rare earth elements, several factors drive the market, both domestically and internationally. China has a booming electronics manufacturing sector that heavily relies on rare earth elements. As a global hub for consumer electronics, the internal demand for these elements is high. The Chinese government is implementing strategic policies to regulate and promote the rare earth industry. These include export quotas, strategic stockpiling, and subsidies to encourage domestic production. China's dominant position in the rare earth supply chain allows it to impact global prices and availability. This creates a virtuous cycle, which is attracting further investment into mining and processing facilities within the country. China is heavily investing in renewable energy technologies, such as wind turbines and electric vehicles, which require rare earth elements. This aligns with the country's ambitious environmental goals. Investments in research and technology aim to make the extraction and processing of rare earth elements more efficient and environmentally sustainable, which is maintaining China's competitive edge.
In the rare earth elements market, key players are engaging in a range of strategic initiatives to strengthen their position and capitalize on growing demand. This includes investments in research and development to enhance extraction technologies and improve the efficiency of refining processes. Companies are also exploring partnerships and collaborations, not just with other mining and chemical firms, but also with end-users like technology companies, defense contractors, and renewable energy providers. Some leading players are working closely with governments to ensure stable supply chains, especially given the geopolitical sensitivities surrounding rare earth elements. Strategic stockpiling and long-term contracts are becoming more common as both companies and nations aim to mitigate supply risks. Additionally, market leaders are expanding their geographical footprint to tap into emerging markets where demand is rising due to technological adoption and industrial growth. Diversification of supply sources is also a key strategy, aimed at reducing dependence on specific regions.
Lynas Corporation Ltd.
Arafura Resources Limited
Great Western Minerals Group Ltd.
Avalon Advanced Materials Inc.
Greenland Minerals Ltd
Alkane Resources Ltd
Neo Performance Materials
Iluka Resource Limited
IREL (India) Limited
Canada Rare Earths Corporation
In April 2023, Hyderabad-based National Geophysical Research Institute has found large deposits of 15 Rare Earth Elements (REE) in Andhra Pradesh's Anantapur city. REE is a key component in many electronic devices and various industrial applications, including medical technology, aerospace, and defense.
In December 2021, China Rare Earth Group Co. Ltd, a state-owned enterprise (SOE) directly supervised by China's state assets regulator was formally established in East China's Ganzhou, Jiangxi Province. The newly launched rare earth mega SOE is a conglomerate of some top industrial producers, including the rare earth units of three of the "Big Six" SOEs that dominate the rare earth industry - Aluminum Corporation of China (CHALCO), China Minmetals Corporation, and Ganzhou Rare Earth Group Co., Ltd and two research companies - China Iron & Steel Research Institute Group and Grinm Group Corporation Ltd.
In December 2022, Japan to begin extracting rare earth metals from seabed in 2024 for electric vehicles and hybrids from the mud on the deep-sea bottom in an area off Minami-Torishima Island, a coral atoll in the Pacific Ocean about 1,900 kilometers southeast of Tokyo. Japan is aiming to reduce its reliance on China for rare earth metals.