Rare Earth Elements Market Share , Size , Analysis , Growth , Trends and Forecasts , 2012 to 2020 | Hexa Research
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Rare Earth Elements Market Share , Size , Analysis , Growth , Trends and Forecasts , 2012 to 2020 | Hexa Research
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 .
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