Rare Earth Metals Market by Type and Application

The demand for rare earth metals is estimated to reach 192,000 tons by 2018. Lanthanum oxide and cerium oxide capture a maximum share of around 62% of the market share in the global rare earth oxides. Lanthanum and cerium which are cheaper than other oxides are widely used in modern technologies, such as the manufacturing of catalytic converters used for automobiles. Asia-Pacific captures maximum sharein rare earth consumption due to rapidly increasing demand in China which accounts for approximately 60% of the global consumption. China is the single dominant supplier of the rare earth elements. Due to increasing China’s export restrictions and growing internal demand, there may be a cause of concern for the supply of rare earth elements across the globe. Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications" web site. View the report: Rare Earth Metals Market.