Research and Markets has announced the addition of the “Global Rare Earth Metals Market 2015-2019″ report to their offering.
The global rare earth metals market to grow at a CAGR of 10.19 percent by demand volume over the period 2014-2019.
The report provides comments on both the existing market landscape and its growth prospects over the forecast period. The report further includes a discussion of the key vendors operating in this market.
The global rare earth metal market is evincing intense interest from various market players because of its growth prospects. There has been a rise in production capacities across the world as governments try to secure and leverage these scarce resources. This expansion in the supplier base will drastically change the supplier landscape and is expected to lead to a softening of prices going forward.
According to the report, increasing use of rare earth metals in the wind energy sector and NiMH batteries stand as the prominent ones. Rare earth elements are widely used in the manufacture of magnets for wind turbine generators and for the electrodes in metal hydride batteries.
Further, the report states that one major challenge that stands is the supply demand gap. Despite a broad scope of application and a growing demand, the supply of these elements is geographically concentrated with the dominance of a few countries.
For more information visit http://www.researchandmarkets.com/research/s8sm64/global_rare_earth