Rare earth metals or rare earth elements (REEs) are a relatively abundant group of seventeen elements found in the periodic table. Out of the seventeen, fifteen elements comprise the lanthanide series found between atomic number 57 and 71. The rare earths can further be divided into two categories—heavy rare earth elements (HREE’s) and light rare earth elements (LREEs). The demand for rare earth metal in North America was estimated 13,027.44 tons in 2012, and is projected to reach 20,742.72 tons by 2018, growing at a CAGR of 8.1% from 2013. Cerium oxide is a major type of major type of rare earth elements, and has a huge demand in North America. Rare earth elements are widely used in metal alloys and catalysts industry which is growing in North America.
These elements are relatively abundant in nature even though their name suggests otherwise. Each REE is more common in the earth's crust than silver, gold or platinum, while cerium, yttrium, neodymium, and lanthanum are more common than lead. Thulium and lutetium are the least abundant REEs with crustal abundance of approximately 0.5 parts per million. The radioactive element promethium does not occur freely in nature. Rare earth metals are widely used in various applications such as permanent magnets, metal alloys, glass polishing, glass additives, catalysts, phosphors, ceramics, and others.
The North American chemical industry is a significant part of the country’s economy.The industry is divided in four segments including Base chemicals, Specialty chemicals, Pharmaceuticals, and Consumer chemicals. U.S. is the largest chemical producer in North America, followed by Canada. In the past, most of North America’s chemical industry growth was driven by domestic sales, but these days, the country’s growth is shared dependent on both the domestic and the export market. North America is the second-largest region in the world to produce rare earth elements. North America’s mine deposits, innovative technologies, and research and development enable the region to meet the demand for rare earth market to some extent. U.S. is the major consumer of Rare earth elements in North America. Subsequent to U.S. is Canada.
The key countries covered in North America Rare earth elements Market are U.S, and Canada. The types of rare earth metals studied include lanthanum, cerium, praseodymium, neodymium, samarium, europium, gadolinium, terbium, dysprosium, yttrium, and others. Further, as a part of qualitative analysis, the North America Rare earth elements Market research report provides a comprehensive review of the important drivers, restraints, opportunities, and burning issues in the rare earth elements market.
The North America Rare earth elements Market report also provides an extensive competitive landscape of the companies operating in this market. It also includes the company profiles of and competitive strategies adopted by various market players, including Alkane Resources Ltd (Australia), Arafura Resources Ltd (Australia), Avalon Rare Metals Inc. (Canada), and Baotou Hefa Rare Earth Co. Ltd. (China).
With Market data, you can also customize MMM assessments that meet your Company’s specific needs. Customize to get comprehensive industry standards and deep dive analysis of the following parameters:
- Market size and forecast (Deep Analysis and Scope)
- Consumption pattern (in-depth trend analysis), by application (country-wise)
- Country wise market trends in terms of both value and volume
- Competitive landscape with a detailed comparison of portfolio of each company mapped at the regional- and country-level
- Production Data with a wealth of information on Rare earth elements Raw material suppliers as well as producers at country level with much comprehended approach of understanding
- Comprehensive data showing Rare earth elements plant capacities, production, Consumption, trade statistics, Price analysis
- Analysis of Forward chain integration as well as backward chain integration to understand the approach of business prevailing in the North America Rare earth elements market
- Detailed analysis of Competitive Strategies like new product Launch, expansion, Merger & acquisitions etc. adopted by various companies and their impact on North America Rare earth elements Market
- Detailed Analysis of various drivers and restraints with their impact on the North America Rare earth elements market
- Upcoming opportunities REE market.
- SWOT for top companies in rare earth elements market
- Porters 5 force analysis for REE market
- PESTLE analysis for major countries in rare earth elements market.