Rare-Earth Metals (Lanthanum, Cerium, Neodymium, Praseodymium, Samarium, Europium, Others) Market - Global Forecast to 2026 - ResearchAndMarkets.com
APAC is the fastest-growing market for rare-earth metals due to increase in production and consumption in China.
- APAC is the fastest-growing market for rare-earth metals due to increase in production and consumption in China.
- Significant usage of permanent magnets offer a huge impetus to these advanced materials, are expected to drive the rare-earth metals market in the region.\nThe Neodymium oxide segment is projected to lead the rare-earth metals market, in terms of value, during the forecast period.
- It is used in high-strength permanent magnets that are also known as neodymium-iron-boron (NdFeB) magnets and are one of the strongest magnets in the world.
- Incresing use of Clean energy application has driven the market.\nThe Phosphors segment, by application, is projected to grow at the highest CAGR during the forecast period.