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Ultrathin 2D Magnets In The Rare Earth Metals Market Makes Way

The date of: 2021-11-11
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Ultrathin 2D Magnets In The Rare Earth Metals Market Makes Way For New Applications In Computing And Electronics

LONDON, GREATER LONDON, UK, November 10, 2021 / -- The development of ultrathin 2D magnets is shaping the rare earth metals market, leading to new applications in computing and electronics. This ultrathin 2D magnet can operate at room temperature and can be used in computing and electronics. For instance, in July 2021, Scientists at the Department of Energy, Lawrence Berkeley National Laboratory recently developed an ultrathin 2D magnet that is chemically stable under ambient conditions and can be used in high-density, compact spintronic memory devices.
An increase in the demand for electronics is expected to serve as a major driver of the rare earth metals market in the forecast period. Rare earth metals are widely used in the manufacturing of electronic products such as cellular telephones, computer hard drives, flat-screen monitors, and televisions. According to data by, a UK-based centric brokerage firm that allows users to trade online, global consumer spending in electronics is expected to reach $1.06 trillion in 2021. This will create a significant surge in demand for the rare earth metals market and thus will propel the growth of the rare earth elements.
The global rare earth metals market size is expected to grow from $5.22 billion in 2020 to $5.72 billion in 2021 at a compound annual growth rate (CAGR) of 9.6%. The growth of the rare earth metals market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The rare earth metals market is expected to reach $8.88 billion in 2025 at a CAGR of 11.6%.
Read More On The Global Rare Earth Metals Market Report:
Major players covered in the global rare earth metals industry are Lynas Rare Earths, Iluka Resources, Greenland Minerals, Northern Minerals, Arafura Resources limited, Neo Performance Materials, MP Materials Corp., Australian Strategic Materials Limited, Hitachi Metals Ltd, Energy Fuels Inc., Pensana Rare Earths PLC, Hastings Technology Metals Limited, Texas Mineral Resources, Shin-Etsu Chemical Co. Ltd, Showa Denko K. K., Rare Elements Resources limited, Ucore Rare Metals, Rainbow Rare Earths, RareX Limited, Leading Edge Materials Corp, and Ionic Rare Earths.
TBRC’s global rare earth metals market report is segmented by product type into light rare earth metals, heavy earth metals, others, by metal type into neodymium, yttrium, dysprosium, terbium, europium, cerium, lanthanum, others, by application into catalysts, ceramics/glass, glass polishing, metallurgy, others.
Rare Earth Metals Global Market Report 2021 - By Product Type (Light Rare Earth Metals, Heavy Earth Metals), By Metal Type (Neodymium, Yttrium, Dysprosium, Terbium, Europium, Cerium, Lanthanum), By Application (Catalysts, Ceramics/Glass, Glass Polishing, Metallurgy), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides rare earth metals market overview, forecast rare earth metals market size and growth for the whole market, rare earth metals market segments, and geographies, rare earth metals market trends, rare earth metals market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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