Rare earth market expected to grow through 2018
By Editorial Staff, Resource Recycling
Demand for the rare earth metals is rising, with the resources essential to the manufacturing of consumer electronics and energy technologies, such as batteries or solar panels. A new report seeks to provide an overview of the sometimes-volatile industry.
According to a report from Transparency Market Research, the global demand for rare earth metals was estimated to be over 140 kilotons in 2010 and is expected to grow at a compound annual growth rate of up to 10.5 percent from 2012 to 2018. The report notes that growing concerns over the impact of production, refining and recycling of rare earth metals on the environment could hinder the market.
It also includes a breakdown by geographical region and examines how China's grip on the coveted materials has affected the market, including the cost-effectiveness of alternative sources.