Report Scope:
This report provides an updated review of rare earth materials, sources, pricing, and production processes and identifies current and emerging applications for these materials.
The publisher delineates the current market status for rare earths, defines trends, and presents growth forecasts for the next five years. Supply and sourcing issues, including the latest developments, are also discussed.
The rare earth market is analyzed based on material type and application, and it is expressed as rare earth consumption (in metric tons [t]) and revenues (in $ millions).
A detailed U.S. patent analysis provides further insight regarding market and technological developments.
More specifically, the market analysis conducted for this report is divided into seven sections.
In the first section (Chapter 3), an introduction to the topic and a historical review of rare earth technology are provided, including an outline of recent events. In this section, current and emerging applications for these materials are also identified and divided by sector (e.g., metallurgical/mechanical, chemical, energy, and electronics).
The second section (Chapter 4) outlines the latest process developments and improvements related to rare earth production and ends with a summary of global production by country.
The third section (Chapter 5) provides a detailed analysis of the geographical distribution of rare earth sources, discussing the major rare earth mining activities in each country, including supplying an updated assessment of world reserves, a status report on the most important mining projects, and global production forecasts.
Past, present, and future price trends are presented and discussed in the fourth section (Chapter 6).
Chapter 7 provides a global market analysis of rare earths. Global demand for rare earth is presented by industry/application and by element, with actual data for the years 2019 and estimated data for 2023 Global rare earth revenues by industry are also provided. This analysis of the current rare earth market is followed by a detailed presentation of market growth trends based on industry growth and technological trends. The fifth section concludes by providing projected demand for rare earths within each segment, together with forecast compound annual growth rates (CAGRs) for 2019 through 2023.
The sixth section (Chapter 8) of the study, which covers global industry structure, lists rare earth suppliers and descriptions of their products. The analysis includes a description of the geographical distribution of these firms and an evaluation of other key industry players. Detailed company profiles of the top players are also provided.
The seventh and final section (Chapter 9) includes an extensive U.S. patent analysis, with a summary of patents related to rare earth materials, processes and applications issued in 2019 Patent analysis is performed by region, country, assignee, patent category, application, and material type.
The Report Includes:
- 70 data tables and 41 additional tables
- An overview of the global market for rare earth elements and description of its current applications
- Analyses of global market trends, with data corresponding to market size for 2019, estimates from 2020 to 2022, and projections of CAGRs through 2023
- Details about rare earth compounds and green technology and market share analysis for each of the application
- Insights into government initiatives across the geographies, regulatory framework, political implications, and environmental and health regulations
- Coverage of novel technologies, R&D progress, market forecast, and recent activities in the rare earth element technology
- Details of mergers & acquisitions, joint ventures, collaborations and agreements, and other key market strategies
- Market share analysis of the key companies of the industry, and their detailed company profiles, including Aluminum Corp. of China, Arnold Magnetic Technologies, Gansu Rare Earth Group, Hitachi Metals Ltd., Indian Rare Earths Ltd., Mitsui Kinzoku, Rare Element Resources Ltd. and Solvay
Table of Contents
Chapter 1 Introduction
- Study Goals and Objectives
- Reasons for Doing This Study
- Intended Audience
- Scope of Report
- Methodology and Information Sources
- Analyst's Credentials
- Custom Research
- Related Reports
Chapter 2 Executive Summary
Chapter 3 Market Overview
- Introduction
- Milestones in the History of Rare Earths and Recent Events
- Patent Trends: Past, Present and Future
- Current and Emerging Applications for Rare Earths
- Metallurgical/Mechanical
- Glass/Ceramics
- Electronics, Optics and Optoelectronics
- Chemical
- Energy
- Life Sciences
- Sensors and Instrumentation
- Consumer
- Others
- Rare Earth Compounds and Green Technology - Biggest Opportunity
- Novel Technologies and R&D Progress
- End User Industry Analysis and Rare Earths Value Chain by Industry
- Electric Vehicles (EV) and Rare Earths
- Government Initiatives Across Geographic Regions
- Regulatory Framework and Political Implications
- Environmental and Health Regulations Impacting the Rare Earth Element Industry
- Investment Analysis
- U.S. Army: Investment Analysis for Defense
- Analysis of Supply Demand for REE (India)
- Key Market Trends
- Porter's Five Forces Model
- Pestel Analysis
- Political
- Economic Factors
- Social Factors
- Environmental Factors
Chapter 4 Rare Earth Production Technology
- Introduction
- Rare Earth Elements Processing
- Extraction of Rare Earths from Phosphogypsum
- Metallurgical Process for Recovery of Rare Earth Elements from Low-Grade Ores
- Mechanochemical Methods for Recovery, Extraction and Separation of Rare Earths
- Hydrometallurgical Separation of Rare Earth Elements from Uranium-Rich Concentrates
- Refining Methods for Rare Earths Based on Organic Amine Lixiviants
- Simplified Metallurgical Treatment for Extraction of Rare Earths
- Latest Technological Developments, 2012 to Present
- Organic/Inorganic Composite Containing Rare Earths
- Transparent Ceramics
- Bioceramic Coatings Based on Rare Earths
- Thermoelectric Materials Containing Rare Earths
- Rare-Earth-Based Magneto-Optical Nanocrystalline Oxides
- Global Production of Rare Earths
- Summary of Global Production
Chapter 5 Geographical Distribution of Rare Earth Resources
- Introduction
- North America
- U.S.
- Canada
- South America
- Brazil
- Argentina
- Europe
- Sweden
- Finland
- Norway
- Greenland
- Africa
- South Africa
- Commonwealth of Independent States (CIS)
- Russia
- Kyrgyzstan
- Kazakhstan
- Asia
- India
- China
- Vietnam
- Other Asian Resources
- Oceania
- Australia
- Global Production Forecast
- Production Forecast by Country
- Production Forecast by Element
Chapter 6 Rare Earth Prices
- Historical Prices of Basic Rare Earth Oxides
- Early 1990s to 2003
- 2003 to 2011
- Prices 2011 to 2014
- Future Price Trends
- China's Production and Export Policies
- Production Outside China
Chapter 7 Global Markets
- Outline of Analysis
- Global Market Summary
- Market Segmentation by Industry
- Market Segmentation by Element
- Metallurgical/Mechanical Sector
- Ceramics Application
- Permanent Magnets
- Consumption and Revenues of Rare Earths by Magnet Type
- Metallurgical Alloys
- Glass/Ceramics Sector
- Fluorescence and Rare Earth Oxides
- Current Market Summary
- Market Growth Trends
- Electronics, Optics and Optoelectronics
- Current Market Summary
- Market Growth Trends
- Market Forecast
- Consumption and Revenues of Rare Earths by Element
- Chemical Sector
- Historic Market Summary
- Market Forecast
- Energy Sector
- Current Market Summary
- Market Growth Trends
- Market Forecast
- Other Sectors
- Current Market Summary
- Market Growth Trends
- Market Forecast
Chapter 8 Global Industry Structure
- Miners and Suppliers of Rare Earths
- Other Key Players in the Rare Earth Industry
- Miners and Suppliers of Rare Earths
- Company Profiles and Recent Developments
- AGC Seimi Chemical
- Aluminum Corp. Of China
- Alkane Resources Ltd.
- Arafura Resources
- Arnold Magnetic Technologies
- Avalon Advanced Materials Inc.
- China Minmetals
- China Northern Rare Earth Hi-Tech Co., Ltd.
- China Rare Earth Holdings
- Ferro
- Gansu Rare Earth Group
- Ganzhou Rare Earth Group
- Greenland Minerals Ltd.
- Hexi Industrial Park
- Hitachi Metals Ltd.
- Hudson Resources Inc.
- Indian Rare Earths
- Irtysh Rare Earths
- Iluka Resources
- Lynas Corp.
- Mitsui Kinzoku
- Molycorp
- Namibia Critical Metals Inc.
- Northern Minerals Ltd.
- Rainbow Rare Earths
- Rare Element Resources Ltd.
- Santoku Corp.
- Shin-Etsu Chemical
- Showa Denko
- Solvay
- Summit Atom Rare Earth Company
- Treibacher Industrie
- Ucore Rare Metals Inc.
Chapter 9 Patent Analysis
- Introduction
- Summary of Patents Awarded in 2015
- Global Patents
- U.S.
- European Rare Earth-Related Patents
- European Rare Earth-Related Patents by Specialty
- European Rare Earth-Related Patents by Key Company
- European Rare Earth-Related Patents by Key Company and Specialty Segment
- Japanese Patents
- Japanese Rare Earth-Related Patents by Specialty
- Japanese Rare Earth-Related Patents by Key Company
- Japanese Rare Earth-Related Patents by Key Company and Specialty Segment
- Historic Analysis of Patent Analysis
- General Trends
- Trends by Country and Region
- Trends by Assignee
- Trends by Patent Category
- Patent Trends by Application
- Patent Trends by Rare Earth Type
- Patent Trends by Form of Rare Earth
List of Tables
Summary Table: Global Market Volumes of Rare Earth Usage, by Industry, Through 2023
Table 1: Lanthanoids
Table 2: Typical Properties of Lanthanoids
Table 3: Scandium and Yttrium
Table 4: Technological and Commercial Milestones in Rare Earth Developments
Table 5: Rare Earth Discoveries
Table 6: Number of Patents Granted to Chinese Companies versus Other Global Companies, 1986-2019
Table 7: Applications of Rare Earths in the Metallurgical and Mechanical Industry, 2014
Table 8: Applications of Rare Earths in the Glass/Ceramics Industry
Table 9: Applications of Rare Earths in Electronics, Optics and Optoelectronics
Table 10: Applications of Rare Earths in the Chemical Industry, 2014
Table 11: Applications of Rare Earths in the Energy Sector, 2014
Table 12: Applications of Rare Earths in the Life Sciences, 2014
Table 13: Applications of Rare Earths in the Sensors and Instrumentation Industry, 2014
Table 14: Applications of Rare Earths in the Consumer Sector, 2014
Table 15: Other Applications of Rare Earths, 2014
Table 16: Basic Processing Steps in the Rare Earth Industry, 2014
Table 17: Rare Earth Reserves, by Country, 2019
Table 18: Mountain Pass, California, U.S. - Typical Ore Composition
Table 19: Iron Hill, Colorado, U.S. - Carbonatite Ore Composition
Table 20: Iron Hill, Colorado, U.S. - Piroxenite Ore Composition
Table 21: Lemhi Pass, Idaho/Montana, U.S. - Typical Ore Composition
Table 22: Elk Creek, Nebraska, U.S. - Typical Ore Composition
Table 23: Round Top Mountain, Texas, U.S. - Typical Ore Composition
Table 24: Bear Lodge, Wyoming, U.S. - Typical Ore Composition
Table 25: Bokan Mountain, Alaska, U.S. - Dotson Ore Composition
Table 26: U.S. Rare Earth Resources
Table 27: Thor Lake, Canada - Nechalacho Ore Composition
Table 28: Eldor, Canada - Ashram Zone Ore Composition
Table 29: Strange Lake, Canada - B-Zone Ore Composition
Table 30: Oka, Canada - Typical Ore Composition
Table 31: Kipawa, Canada - Typical Rare Earth Ore Composition
Table 32: Elliot Lake, Canada - Eco Ridge Rare Earth Ore Composition
Table 33: Hoidas Lake, Canada - Typical Rare Earth Ore Composition
Table 34: Canadian Rare Earth Resources
Table 35: Araxá, Brazil - Typical Rare Earth Ore Composition
Table 36: Catalão, Brazil - Typical Rare Earth Ore Composition
Table 37: Tapira, Brazil - Typical Rare Earth Ore Composition
Table 38: Morro do Ferro, Brazil - Typical Rare Earth Ore Composition
Table 39: Mato Preto, Brazil - Typical Rare Earth Ore Composition
Table 40: Brazilian Rare Earth Resources
Table 41: Norra Kärr, Sweden - Typical Rare Earth Ore Composition
Table 42: Olserum, Sweden - Typical Rare Earth Ore Composition
Table 43: Katajakangas, Finland - Typical Rare Earth Ore Composition
Table 44: Kvanefjeld, Greenland Typical Rare Earth Ore Composition
Table 45: Motzfeldt, Greenland - Typical Rare Earth Ore Composition
Table 46: Zandkopsdrift, South Africa-Typical Rare Earth Ore Composition
Table 47: Pilanesberg, South Africa-Typical Rare Earth Ore Composition
Table 48: Steenkampskraal, South Africa-Typical Rare Earth Ore Compositions
Table 49: South African Rare Earth Resources
Table 50: Lovozero, Russia-Typical Rare Earth Ore Composition
Table 51: Khibina, Russia-Typical Rare Earth Ore Composition
Table 52: Russian Rare Earth Resources, 2014
Table 53: Kutessai II, Kyrgyzstan-Typical Rare Earth Ore Composition
Table 54: Kyrgyzstan Rare Earth Resources, 2014
Table 55: India-Typical Monazite Ore Composition
Table 56: Bayan Obo, Inner Mongolia, China-Typical Bastnäsite Ore Composition
Table 57: Maoniuping, Sichuan, China-Typical Ore Composition
Table 58: Southern China-Typical Monazite Ore Composition
Table 59: Chinese Rare Earth Resources, 2014
Table 60: Vietnamese Rare Earth Resources, 2014
Table 61: Mt. Weld, Australia-Typical Rare Earth Ore Composition
Table 62: Nolans Bore, Australia-Typical Rare Earth Ore Composition
Table 63: Toongi, Australia-Typical Rare Earth Ore Composition
Table 64: Brockman, Australia-Typical Ore Composition
Table 65: Cummins Range, Australia-Typical Rare Earth Ore Composition
Table 66: Yangibana, Australia-Typical Rare Earth Ore Composition
Table 67: Australian Rare Earth Resources, 2014
Table 68: Rare Earth Production, by Country, 2019-2023
Table 69: Rare Earth Production, by Element, 2019
Table 70: Average Unit Prices of Rare Earths, 99% Purity FOB, 2011-2014
Table 71: Forecast Average Unit Prices of Rare Earths, 99% Purity FOB, Through 2023
Table 72: Global Consumption of Rare Earths, by Industry, Through 2023
Table 73: Global Market for Rare Earth Usage, by Industry, Through 2023
Table 74: Global Consumption of Rare Earths, by Element, 2019-2023
Table 75: Main Types of Permanent Magnets
Table 76: Current Applications for Permanent Magnets
Table 77: Current Rare Earth Magnet Applications
Table 78: Rare Earth Elements for Metallurgy, 2014
Table 79: Global Consumption of Rare Earths for Metallurgy, Through 2023
Table 80: Global Consumption of Rare Earths for Metallurgy, by Element, Through 2023
Table 81: Global Market for Rare Earths for Metallurgy, by Element, Through 2023
Table 82: Rare Earth Elements for Glass and Ceramics, 2019
Table 83: Global Consumption of Rare Earths for Glass and Ceramics, by Application, Through 2023
Table 84: Global Consumption of Rare Earths for Glass and Ceramics, by Element, Through 2023
Table 85: Global Market for Rare Earths for Glass and Ceramics, by Element, Through 2023
Table 86: Rare Earth Elements for Electronics, Optics and Optoelectronics, 2014
Table 87: Global Consumption of Rare Earths for Electronics, Optics and Optoelectronics, by Application, Through 2023
Table 88: Global Consumption of Rare Earths for Electronics, Optics and Optoelectronics, by Element, Through 2023
Table 89: Global Market for Rare Earths for Electronics, Optics and Optoelectronics, by Element, Through 2023
Table 90: Applications of Rare Earth Elements in the Chemical Industry, 2014
Table 91: Global Consumption of Rare Earths in the Chemical Industry, by Application, Through 2023
Table 92: Global Consumption of Rare Earths in the Chemical Industry, by Element, Through 2023
Table 93: Global Market for Rare Earths in the Chemical Industry, by Element, Through 2023
Table 94: Applications of Rare Earth Elements in the Energy Sector, 2014
Table 95: Global Consumption of Rare Earths in the Energy Sector, by Application, Through 2023
Table 96: Global Consumption of Rare Earths in the Energy Sector, by Element, Through 2023
Table 97: Global Market for Rare Earths in the Energy Sector, by Element, Through 2023
Table 98: Applications of Rare Earth Elements in Other Sectors, 2014
Table 99: Global Consumption of Rare Earths in Other Sectors, by Application, Through 2023
Table 100: Global Consumption of Rare Earths in Other Sectors, by Element, Through 2023
Table 101: Global Market for Rare Earths in Other Sectors, by Element, Through 2023
Table 102: Miners and Suppliers of Rare Earths
Table 103: Geographical Distribution of Key Players
Table 104: Other Relevant Industry Players
Table 105: U.S. Rare Earth-Related Patents
Table 106: European Rare Earth-Related Patents
Table 107: Japanese Rare Earth-Related Patents
Table 108: U.S. Rare Earth-Related Patents, 2014
Table 109: Rare Earths U.S. Patent Trends, 2012-2014
Table 110: Assignees of U.S. Rare Earth-Related Patents, 2014
List of Figures
Summary Figure: Global Market Volumes of Rare Earth Usage, by Industry, 2019-2023
Figure 1: Rare Earths in the Periodic Table
Figure 2: Number of Patents Granted to Chinese Companies versus Other Global Companies, 1986-2019
Figure 3: Rare Earth Production Share, by Country, 2019
Figure 4: Prices of the Major Rare Earth Oxides, 99% Purity, 1992-2003
Figure 5: Prices of the Major Rare Earth Oxides, 99% Purity FOB, 2003-2011
Figure 6: Global Consumption of Rare Earths, by Industry, 2019-2023
Figure 7: Global Shares of the Consumption of Rare Earths, by Industry, 2019
Figure 8: Industry Shares of Overall Rare Earth Consumption, 2023
Figure 9: Global Shares of the Consumption of Rare Earths, by Element, 2019
Figure 10: Global Shares of the Consumption of Rare Earths, by Element, 2023
Figure 11: Global Shares of the Consumption of Rare Earths for Metallurgy, by Element, 2023
Figure 12: Global Shares of the Consumption of Rare Earths for Glass and Ceramics, by Element, 2023
Figure 13: Global Shares of the Consumption of Rare Earths for Electronics, Optics and Optoelectronics, by Element, 2023
Figure 14: Global Shares of the Consumption of Rare Earths in the Chemical Industry, by Element, 2023
Figure 15: Global Shares of the Consumption of Rare Earths in the Energy Sector, by Element, 2023
Figure 16: Global Shares of the Consumption of Rare Earths in Other Sectors, by Element, 2023
Figure 17: Global Shares of Rare Earth-Related Patents
Figure 18: Shares of U.S. Rare Earth-Related Patents, by Specialty
Figure 19: Shares of U.S. Rare Earth-Related Patents, by Key Company
Figure 20: U.S. Rare Earth-Related Patents, by Key Company and Specialty Area
Figure 21: European Shares of Rare Earth-Related Patents, by Specialty
Figure 22: European Shares of Rare Earth-Related Patents, by Key Company
Figure 23: European Shares of Rare Earth-Related Patents, by Key Company and Specialty Area
Figure 24: Shares of Japanese Rare Earth-Related Patents, by Specialty
Figure 25: Shares of Japanese Rare Earth-Related Patents, by Key Company
Figure 26: Japanese Rare Earth-Related Patents, by Key Company and Specialty Area
Figure 27: Trends in U.S. Rare Earth-Related Patents, 2012-2014
Figure 28: Shares of U.S. Rare Earth-Related Patents, by Region, 2014
Figure 29: Shares of U.S. Rare Earth-Related Patents, by Country, 2014
Figure 30: Shares of U.S. Rare Earth-Related Patents, by Category, 2014
Figure 31: Shares of U.S. Patents on Applications of Rare Earths, 2014
Figure 32: Shares of U.S. Rare Earth-Related Patents, by Material Type, 2014
Figure 33: Shares of U.S. Rare Earth-Related Patents, by Form of Use, 2014
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Executive Summary
Rare earths are a group of 17 elements that include all the lanthanoids (15 elements with atomic numbers between 57 and 71), plus yttrium and scandium. These elements have similar chemical structures, which confer on them unique mechanical, chemical, metallurgical, optical, catalytic, nuclear, magnetic, and abrasive properties.
These materials started becoming popular in the advanced materials industry in the 1960s, and since then, the number of applications for rare earths has increased significantly. The world’s largest rare earth metal deposits occur in the form of bastnäsite and monazite and are located in China and the U.S. Since 1965 to the mid-1980s, Mountain Pass in California, U.S., was a leading source of rare earth elements (REE). From the mid-1980s, the production of REE in China grew dramatically, and now China controls more than 90% of the global supply of rare earth minerals. Today, these elements are found in many advanced products within the following sectors: mechanical/metallurgical; glass and ceramics; electronics, optics, and optoelectronics; chemical; energy; life sciences; sensors and instrumentation; and consumer.
This study provides an updated and comprehensive review of these materials and their applications and sources. It also outlines current technical issues and the latest technological developments.
At the end of 2011 and in 2012, rare earth consumption dropped considerably as a result of the Rare Earth Crisis, and then it started rebounding in 2013 and 2014.
The largest segment of the rare earth market is the mechanical/metallurgical sector, where rare earths are primarily used for the fabrication of permanent magnets. Additional key fields of application are within the glass and ceramics; energy; chemical; and electronics, optics, and optoelectronics sectors.
Growth in the consumption of rare earths is projected to gain momentum during the next five years despite the moderate rate, as users continue to adopt more efficient manufacturing processes and make use of substitute products to reduce their dependence on China. Given the fact that China is currently the main supplier of rare earths, users are also waiting for new players to gear up production or enter the market. Increased demand for rare earths during the next five years will be driven primarily by the mechanical/metallurgical, chemical, and energy sectors.
Companies Mentioned
- AGC Seimi Chemical
- Alkane Resources Ltd.
- Aluminum Corp. Of China
- Arafura Resources
- Arnold Magnetic Technologies
- Avalon Advanced Materials Inc.
- China Minmetals
- China Northern Rare Earth Hi-Tech Co., Ltd.
- China Rare Earth Holdings
- Ferro
- Gansu Rare Earth Group
- Ganzhou Rare Earth Group
- Greenland Minerals Ltd.
- Hexi Industrial Park
- Hitachi Metals Ltd.
- Hudson Resources Inc.
- Iluka Resources
- Indian Rare Earths
- Irtysh Rare Earths
- Lynas Corp.
- Mitsui Kinzoku
- Molycorp
- Namibia Critical Metals Inc.
- Northern Minerals Ltd.
- Rainbow Rare Earths
- Rare Element Resources Ltd.
- Santoku Corp.
- Shin-Etsu Chemical
- Showa Denko
- Solvay
- Summit Atom Rare Earth Company
- Treibacher Industrie
- Ucore Rare Metals Inc.
