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Showing posts with the label Rare Earth Metals Market
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Rare Earth Metals Market The Global Rare Earth Metals Market is estimated to be valued at US$ 5317.05 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Rare earth metals include seventeen chemical elements which occur in earth's crust and are important for manufacturing various products like magnets, rechargeable batteries, mobile phones, electric vehicles etc. Due to uniqueness of their magnetic, luminescence and electrochemical properties, rare earth metals are widely used across industries for development of new technologies. Market key trends: Rare earth metals find extensive usage in manufacturing permanent magnets used in various industrial applications such as wind turbines, electric vehicles and consumer electronics. Strong demand from renewable energy and electric vehicles segment has been a major growth driver for rare earth metals market...