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Rare Earth Recycling Market

Rare Earth Recycling Market Size and Segment By Application (Alloy, Catalyst, Permanent magnets, Glass, Ceramics, Phosphor, Polishing materials, Hydrogen storage alloys) By Source (FCC, Fluorescent lamps, Magnets, Batteries, Industrial process) By Technology (Hydrometallurgical, Pyrometallurgical), by Regions and Global Forecast 2022-2028

Report Id: SNS/C&M/2662 | August 2022 | Region: Global | 126 Pages

Report Scope & Overview:

Rare Earth Recycling Market Size was valued at USD 255 million in 2021, and expected to reach USD 530 million by 2028, and grow at a CAGR of 11% over the forecast period 2022-2028.

Permanent magnets, electric vehicles, cellphones, wind turbines, and other devices depend on rare earth metals, such as the lanthanide series, scandium, and yttrium. The elements must be refined before use because they are found naturally in ores as mixes. However, mining and separating the mineral ore is difficult and expensive in terms of both energy and waste. These substances currently place a heavy load on the environment. Despite having the potential for reuse, the vast majority are thrown away after just one usage.

Rare Earth Recycling Market 2022

Recycling rare earth-containing items provides manufacturers with a reliable domestic source of rare earth resources while also lowering waste. With the incorporation of recovered materials, environmental damage and energy costs connected to their initial mining and separation should be reduced.

Market Dynamics:

Drivers:

  • Increasing End-Use Industry Demand.

  • Demand for Clean Energy Is Growing

  • Associations and regulatory bodies' initiative

Restraints:

  • Cost Variations for Rare Earth Metals

  • Mining of Rare Earth Metal Ores Without Permits

Opportunity:

  • Rare Earth Metal Recycling Promotes Consistent Material Sourcing

  • Setting Net-Zero Goals by 2050 to Encourage Rare Earth Metal Recycling

Challenge:

  • Safety of Workers in the Recycling of Rare Earth Metals

Impact of Covid-19:

For several worldwide businesses, including the chemical industry, the first half of 2020 turned out to be an unanticipated turning point. By lowering the automobile and electronic sectors (among other sectors) and upsetting current supply chains, COVID-19's debut has made the issue worse. The industry for recycling rare earths has been severely impacted by the global epidemic. Due to the COVID-19 pandemic, the market players had to shut down production facilities or operate them at lower production levels in order to prevent the coronavirus from spreading. As a result, the recycling of rare earth metals has decreased. Production has also decreased as a result of the fall in e-waste collection and the limited supply of raw materials as a result of supply disruptions. In 2020, the global market for recycling rare earths will see a severe downturn as a result of lockdowns implemented in the majority of the world's regions to halt the spread of COVID-19 Manufacturers have developed a new approach, though, to address the difficulties encountered during the COVID-19 outbreak's initial phase. Furthermore, it is unlikely that the market for recycling rare earth materials will pick up again in the near future. The demand for rare earth recycling has decreased globally as a result of the closure of production facilities by the primary consumers of rare earth recycling, including the automobile, aerospace, machining tools, and wind energy industries. However, the need for rare earth recycling is increasing now that trade restrictions and lockdown measures have been lifted.

Key Players:

Energy Fuels, Inc. (US), Solvay SA (Belgium), Global Tungsten & Powders Corp. (US),   REEcycle Inc.(US), Umicore (Belgium), Osram Licht AG (Germany) and  Hitachi Metals, Ltd. (Japan)

Market Segment:

By Application

  • Alloy

  • Catalyst

  • Permanent magnets

  • Glass

  • Ceramics

  • Phosphor

  • Polishing materials

  • Hydrogen storage alloys

By Source

  • FCC

  • Fluorescent lamps

  • Magnets

  • Batteries

  • Industrial process

By Technology

  • Hydrometallurgical

  • Pyrometallurgical

Rare Earth Recycling Market Segment Pie Chart

Regional Analysis:

Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa are among the regions where the worldwide rare earth recycling market has been researched. In 2020, Asia-Pacific has a market share of more than 30% worldwide. To increase their market share, the major competitors in the Asia-Pacific market are implementing a variety of business tactics, including R&D, joint ventures, new product launches, portfolio expansions, contracts and agreements, and acquisitions.

The expansion of industrial players in nations like Germany and the UK is to blame for the expansion of the European market. Over the upcoming years, it is projected that high-level research and development operations across these countries would continuously develop new products, paving the way for moderate market expansions in the rare earth recycling sector. In all of North America, the US has one of the largest permanent magnet marketplaces. It is projected that widespread usage of permanent magnets in electronic devices including televisions, cell phones, speakers, and more will represent consistent rise in demand for the rare earth recycling industry in North America.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Rare Earth Recycling Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 255 Million
Market Size by 2028 US$ 530 Million
CAGR CAGR of 11% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Application (Alloy, Catalyst, Permanent magnets, Glass, Ceramics, Phosphor, Polishing materials, Hydrogen storage alloys)
• By Source (FCC, Fluorescent lamps, Magnets, Batteries, Industrial process)
• By Technology (Hydrometallurgical, Pyrometallurgical)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Energy Fuels, Inc. (US), Solvay SA (Belgium), Global Tungsten & Powders Corp. (US),   REEcycle Inc.(US), Umicore (Belgium), Osram Licht AG (Germany) and  Hitachi Metals, Ltd. (Japan)
Key Drivers • Increasing End-Use Industry Demand.
• Demand for Clean Energy Is Growing
RESTRAINTS • Cost Variations for Rare Earth Metals
• Mining of Rare Earth Metal Ores Without Permits


Frequently Asked Questions (FAQ) :

Ans: Rare Earth Recycling Market Size was valued at USD 255 million in 2021, and expected to reach USD 530 million by 2028, and grow at a CAGR of % over the forecast period 2022-2028.

Ans: Safety of Workers in the Recycling of Rare Earth Metals are the challenges faced by the Rare Earth Recycling Market.

Ans: Energy Fuels, Inc. (US), Solvay SA (Belgium), Global Tungsten & Powders Corp.(US), REEcycle Inc.(US), Umicore (Belgium), Osram Licht AG (Germany) and Hitachi Metals, Ltd. (Japan) are the major key players of  Rare Earth Recycling Market.

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Key stakeholders considered in the study:
Raw material vendors
distributors/traders/wholesalers/suppliers
regulatory authorities, including government agencies and NGO
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
trade/industrial associations
end-use industries are the stake holder of this report


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8.Rare Earth Recycling Market  Segment, By Application

8.1 Alloy

8.2 Catalyst

8.3 Permanent magnets

8.4 Glass

8.5 Ceramics

8.6 Phosphor

8.7 Polishing materials

8.8 Hydrogen storage alloys

 

9.Rare Earth Recycling Market  Segment, By Source

9.1 FCC

9.2 Fluorescent lamps

9.3 Magnets

9.4 Batteries

9.5 Industrial process

 

10.Rare Earth Recycling Market  Segment, By Technology

10.1 Hydrometallurgical

10.2 Pyrometallurgical

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12. Company Profile

12.1 Energy Fuels, Inc. (US)

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Solvay SA (Belgium)

12.3 Global Tungsten & Powders Corp. (US)

12.4 REEcycle Inc.(US)

12.5 Umicore (Belgium)

12.6 Osram Licht AG (Germany)

12.7 Hitachi Metals, Ltd. (Japan)

 

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

 

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Secondary Research

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