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Global Rare Earth Metals Market to Grow at 13.67% CAGR During 2017-2021

Reviewed

Apr 26 2017

Research and Markets has announced the addition of the "Global Rare Earth Metals Market 2017-2021" report to their offering.

The global rare earth metals market to grow at a CAGR of 13.67% during the period 2017-2021.

Global Rare Earth Metals Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

According to the report, one driver in market is elevated usage in direct-drive turbines for wind energy production. Wind energy has become one of the most recognized, cost-effective, and clean solutions for generating electricity. A clean alternative to non-renewable fuels, wind energy farms provide an alternative method to generate electricity and reduce the emission of greenhouse gases. Wind energy generation is expected to be one of the fastest-growing markets in the future because of growing federal incentives for renewable energy production and easing regulations.

One trend in market is rise in production capacities and emergence of alternative suppliers. Lucrative trade and the growing demand for rare earth metals has resulted due to the intense evaluation of domestic reserves for exploitation and leveraging them for strategic uses by several countries. This is being encouraged by large rare earth metal consuming nations in order to leverage their supply risks.

Key vendors