Jay Mangade's blog : Global Elements Market: Industry Analysis and Forecast (2020-2026)
Global Elements Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2026, reaching nearly US$ XX Mn.
The global Elements market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Elements market report also provides trends by market segments, technology, and investment with a competitive landscape.
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Global Elements Market
Global Elements Market Overview
The elements of earth are set of seventeen elements which include fifteen lanthanides on periodic table and scandium as well as yttrium. These elements are an essential part of many high-tech devices and are used extensively for various end-use applications. As per the available information, earth elements are necessary components for more than 200 products across a variety of applications. Especially, in electronics for high tech consumer products such as cellphones, computer hard drives, electric vehicles, electronic displays, and many others. In 1993, china produced 38% of the world’s earth elements, the US produced 33% followed by Australia at 12%
Although these elements may not be a significant part of the product by weight, volume, or value but is an important part of product functioning. For example, magnets made from elements represent a small amount of weight to the total product but is crucial for spindle motor in laptops and computers.
Global Elements Market Dynamics
With time a large number of elements have gained momentum in various industries because of their several chemical and physical benefits which are suited for specific products and applications. For instance, cerium is used as a polishing agent and its demand has noted continuous growth because of the growing electronic industry. It is highly used as a polishing agent for displays, LCDs, glass, and others that are propelling the market growth. The growth is mainly driven by green technologies and advancing electronics. Furthermore, increased usage of scandium in aerospace applications is likely to provide growth opportunities increased demand for an electric vehicle that will reduce the emissions of harmful CO2 will push the market, elements like neodymium and praseodymium based magnet which is used majorly for manufacturing batteries.
Additionally, the use of earth elements in the automotive sector for the production of electric vehicles, national defense, and electronics is growing which has driven the overall market. These elements are used in everyday objects such as light-emitting diodes (LED), Compact fluorescent lights, fiber optics, and polishing compounds for an illuminating screen of electric devices and others combined with Increased use of praseodymium that works as an alloying agent with magnesium to produce high strength metals for an aircraft engine is sparking the market growth. However, increasing scarcity of the elements, and fluctuating element price and others related to its mining and usage are hampering the market growth.
Global Elements Market Segment Analysis
Global Elements Market 1
Based on type, the market is dominated by cerium. Cerium act as a catalyst in the automotive industry, catalytic converters, and in an exhaust system to decrease emissions, its use is also high in nickel-metal hydride batteries. The largest demand came in the form of autocatalysts, polishing agents, and magnets. Cerium is the most abundant element of the earth making up to 0.0046% of the earth's crust by weight. As per the data available, the sale of the automotive industry has increased by 3% and this allowed the company to maintain the balance of supply and demand. Thus, improving production. This is expected to drive the demand for catalytic converters as they reduce harmful vehicle exhaust emissions. Besides this use of neodymium in alloy with boron and iron for making strong permanent magnets is high. The discovery in 1983 made it possible in electronic devices, musical instruments, microphones, and loudspeakers.
Based on the Application, the segment of a magnet held the largest market share in 2019. Magnets are being used in various end-user applications for example- linear actuators, computer hard discs, servo motors, sensors, and speakers & headphones. Increased demand for magnets in consumer electronics applications, the automobile sector, and turbines are anticipated to increase the usage of elements. Additionally, magnets are also used in medical equipment, for example- heart pumps, sleep apnea machines, insulin pumps, and others due to which the healthcare sector has witnessed increased investment in the Middle East & Africa and The Asia pacific which will drive the growth of elements market. The rising demand for electric vehicles to reduce the emission of CO2 is poised to increase the use of magnets in the production of batteries.
Global Elements Market Regional Insights:
Global Elements Market 2
The Asia Pacific dominated the global elements market holding a market share of more than 70% during the forecast period. The automotive industry and consumer electronics hold a prominent position in Asia pacific elements market. This is because of increased application in the magnet for manufacturing of batteries for electronic vehicles combined with the polishing of displays, LEDs, LCDs and to reduce the weight of the product. China is the most dominant country in the world market in terms of both production and consumption according to geological survey china produces most of the elements followed by the US and Australia due to which the region is anticipated to hold the largest market share in the future as well.
A surge in the production of electric motor vehicles in us will drive the demand in North America moreover presence of key market players such as Tesla, lucid motors, WM motors will fuel the market. Whereas countries such as UK, Germany, and France are the major contributors' foe the European market growth. The automotive industry in the end-user of earth elements in the region combined with the adoption of green technology will boost the market growth and demand for elements in Europe.
The growth of the market in South America is mostly drive-by industrialization and globalization. Whereas in the Middle East and Africa the demand for elements is high from oil and gas refineries as steps were taken by the government for use of wind energy for using non-conventional energy are anticipated to boost the market growth.
The objective of the report is to present a comprehensive analysis of the Global Elements Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Elements Market dynamics, structure by analyzing the market segments and project the Global Elements Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Elements Market make the report investor’s guide.
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Global Elements Market 3
Global Elements Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Elements Market Key Players
• Shin-Etsu Chemical Co. Ltd.
• China Minerals Rare Earth Co. Ltd.
• China Northern Rare Earth (Group) High-Tech Co., Ltd.,
• Iluka Resources Ltd
• Molycorp Inc.,
• Lynas Corporation Ltd
• Alkane Resources Ltd
• Metal Rare Earth ltd
• IREL, India
• Arafura
• Canada Rare Earth Corporation
• Grrenland Mineral Ltd
• Baotou Rare Earth
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