A recent report published by Infinium Global Research on strategic metals market provides in-depth analysis of segments and sub-segments in the global as well as regional strategic metals market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional strategic metals market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global strategic metals market. According to the report, the global strategic metals market is projected to grow at a healthy CAGR over the forecast period of 2018-2024.
Strategic Metals, the drivers of our lives in the 21st century, be it in electronics, mobility or sustainable energy, everywhere it has critical importance. These metals are important for modern technologies and industries. Strategic Metals include rare earth elements and several special metals. These are used in LEDs, magnets, electric motors, sensors, and many other components. Additionally, it is used in smartphones, flat screens, cars, and homes. These are not easily available in every nation as compared to other mineral sources, hence its supply is a critical factor. Every core industry wants these metal in the proper amount to support their growth in the modern era. Besides this, these metals also play an important in the defense system. These metals are mainly used in the energy, aerospace, telecommunication, computer, mobile technology, and defense system. These metals are vital to modern technology and industry, but sources of these are susceptible to disruption. Additionally, supply and demand of these metals are influenced by geopolitics. In other words, these are metals that every nation wants, but someone else has a monopoly over it. Some of the strategic metals are- Dysprosium Oxide, Europium Oxide, Gallium, Germanium, Hafnium (Zr<0.2%), Indium, Neodymium Oxide, Praseodymium Oxide, Rhenium, Terbium Oxide, and others.
Dysprosium is used in the permanent magnets in power generators and electric vehicles. Further, it is used in lasers and metal halide lamps. Europium Oxide is used in energy saving light bulbs, and LEDs. Additionally, it is used in the superconductor alloying material and radiation protection equipment. Germanium is used for internet cables and in several semiconductor components. Additionally, it is used in optical lenses and solar cells. Further, these metals are critical for the defense of every nation. For instance, strategic metal in the US is Chromium (Cr). Cr is the key ingredient that makes stainless steel corrosion resistant, and it is also a key ingredient in superalloys, which are essential for the manufacture of aircraft engines. There are no commercially viable sources of Chromium in the US, but it is the critical raw material, that is used in the several across the U.S.
Strategic metals are distinct from "precious" metals, like silver and gold in terms of sourcing. Further, these precious metals are not used in several sectors as strategic metals are used. Likewise, they differ from "base" metals, such as copper, lead, iron, and zinc. These precious metals are relatively abundant in more locations around the world, while strategic metals are very rare to find. While some strategic metals like chromium, manganese or tungsten are produced on a relatively large scale, many others are produced in extraordinarily small quantities. For instance, an estimated 140 tonnes of germanium was produced in 2010, while approximately 10 tonnes of thallium, a highly toxic element, was produced. Additionally, a large number of strategic metals are actually byproducts from base metal refining, while some are even byproducts of byproducts. Hence these are produced in very less amount globally. So, as the corporates and governments are realizing the importance of strategic metals for business and defense purposes, these metals are becoming more and more interesting from an investment perspective. Growth in several industry verticals is driving the strategic metals markets. Additionally, increasing disposable income among middle-class consumer around the globe, and urbanization is expected to drive the market in near future.
North America holds the lion share in the strategic metals market, due to the main hub of technological development and defense development in the globe. America imports several strategic metals for the modernization of its defense market. Several American companies related to communication, computers, and energy import these materials from other countries for their business purpose. European region in the second largest market for the strategic metals and the Asia Pacific is expected to grow at the highest CAGR during the forecasted period.
The report on global strategic metals market covers segments such as type and application. On the basis of type, the global strategic metals market is categorized into europium, gallium, germanium, manganese, lithium, and others. On the basis of application, the global strategic metals market is categorized into defense, aerospace, energy, telecommunication, semiconductor, chemical, ceramics/glass, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the strategic metals market. As a result, the APAC region is projected to experience a growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global strategic metals market such as Lynas Corporation Ltd, Great Western Minerals Group Ltd, MP Materials, Anglo American Platinum Ltd, Norilsk Nickel, Lonmin Plc, North American Palladium Ltd, African Rainbow Minerals Ltd, Impala Platinum Holdings Ltd, Albemarle Corporation, Umicore NV, China Rare Earth Holdings, Avalon Rare Metals, Mongolia Baotou Steel Hitech Co, and VSMPO-AVISMA Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global strategic metals market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of strategic metals market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the strategic metals market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the strategic metals market to understand the present and future trends in this market and formulate their strategies accordingly.
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