FELTON, CA, Aug 24, 2015 (Marketwired via COMTEX) -- Rare Earth Elements or rare earth metals are a group of seventeen elements bearing similar properties. Key elements in the group include lanthanum, praseodymium, cerium and neodymium. According to a new study by Hexa Research, high demand for rare earth elements like cerium and lanthanum in applications like automobiles, metallurgy, phosphors, glass, etc. will drive global market growth. Rising demand for permanent magnets in electronic, wind turbine and automotive sectors will translate into high demand for neodymium. Phosphor is essential to manufacture of consumer electronic components like LCD screens and CRT displays. Elements like terbium, europium and yttrium are used in the phosphors industry. Hexa Research predicts that the global Rare Earth Elements market will reach $10.96 billion in 2020.
Browse full research report with TOC on " Rare Earth Elements Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2012 To 2020 " at http://www.hexaresearch.com/research...ments-industry