Product ID: SQMIG15M2011
Report ID:
SQMIG15M2011 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
71 |
Figures:
75
By 2022, sales growth in North America is projected to register a CAGR of 8.2%. The region's developing automobile industry is to blame for the rising demand for rare earths. Neodymium, for instance, is used in Tesla's Model 3 Long Range vehicles, a major American maker of electric vehicles. Over the projected period, it is expected that this action will increase demand for neodymium. Over the projected period, it is also anticipated that expanding nuclear and consumer electronics industries will fuel demand for rare earths. With more than 30% of the world's electricity generated by nuclear energy, the United States is the largest producer in the world. According to the World Nuclear Association, there are now two nuclear reactors being built in the nation. The region's market is anticipated to grow faster than average due to the increasing need for nuclear reactors.
With a market volume share of 72.5% in 2022, the Asia Pacific region led the world in both rare earth production and consumption. In the Asia Pacific market for rare earth elements, consumer electronics and the automobile sector are important. This is because rare earth is increasingly used to make magnets for batteries in electric vehicles, and because television glass is polished to create a smooth surface and lighten the product. Businesses in India have begun to increase their capacity for producing television component parts.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG15M2011