Global Rare Earth Metals market may reach $ 8.19 billion by 2018 Sep 30, 2014 01:51 GMT
Source: Scrap Register
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rare earth price
UNITED STATES September 29 2014 3:45 PM
NEW YORK (Scrap Register): Global
rare earth metals market is expected to reach $ 8.19 billion by 2018, as per latest Study by Transparency Market Research.
According to the Study, the global rare earth metals market will grow at a CAGR of 13.0% from 2012 to 2018. This market was valued at $ 3.93 billion in 2012.
The rare earth metals market is expected to grow at a steady rate in the coming five years. The factors driving its growth are demand for rechargeable batteries that are preferred for being recyclable, portable equipments, electronics, permanent magnets, and computers.
Increasing demand for clean energy and action taken by the government to ensure the same is another factor driving this market. Clean technology also a reason for growth in the rare earth metals market.
However, in the same period, the rare earth metals market is likely to witness a few challenges such as dominance of China in the market and fluctuating costs.
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