Author: Fairfield Consultancy Services

The global milk mineral concentrate market is experiencing robust growth, driven by the increasing awareness of health and wellness among consumers and a rising incidence of calcium deficiency-related health issues. A comprehensive study conducted on the various facets of this market provides valuable insights that aid in understanding its growth trajectory during the forecast period.

Read More: https://www.fairfieldmarketresearch.com/report/milk-mineral-concentrate-market

The Health Drive: A Strong Catalyst for Market Expansion

The global populations growing focus on health and wellness is leading to a paradigm shift towards nutritional foods and supplements, resulting in a surge in demand for functional foods and beverages. Calcium-rich milk mineral concentrates are increasingly used in various food and beverage applications to address nutritional needs. A significant factor driving this demand is the rising prevalence of bone-related illnesses, such as osteoporosis and osteopenia, which are linked to calcium deficiency. Across the world, there is a growing incidence of calcium shortage due to various factors, including inadequate calcium consumption and underlying medical conditions, fueling the demand for milk mineral concentrates.

Government Initiatives and Expanding Applications Drive Market Growth

In countries like China, government officials focus on product fortification has led to increased awareness and usage of milk mineral concentrates. Such initiatives are expected to fuel market expansion in various regions. Additionally, market participants are actively expanding the applications of milk mineral concentrates to meet the unmet needs of the population, particularly concerning bone health. For instance, it is estimated that around 10 million Americans suffer from osteoporosis, with approximately 44 million at high risk for developing it due to insufficient bone mass, as reported by the Bone Health and Osteoporosis Foundation (BHOF) in 2021.

COVID-19 Impact and Changing Consumer Preferences

The COVID-19 pandemic presented difficulties, yet the milk mineral concentrate market grew profitably during this time. Increased demand for milk and dairy products, coupled with minor supply chain disruptions, contributed to higher revenues for market players. However, changing consumer preferences, including a shift towards vegan and plant-based products, are expected to limit the markets expansion in the forecast period.

Segment Insights

The market is dominated by the 20% to 25% milk mineral concentrate category because effective therapies are needed to address the growing prevalence of mineral deficiencies. Market participants are focusing on increasing the content of essential minerals like calcium, catering to the demand for fortified food products and nutritional beverages.

Asia Pacific Spearheads Growth with High Prevalence of Calcium-Deficient Illnesses

Because calcium-deficient disorders are becoming more common, particularly in young children and the elderly, the Asia Pacific region is predicted to lead the market for milk mineral concentrate. Government initiatives and regulations for fortified food items, including infant formulae, are further propelling market growth.

Competitive Landscape

Prominent players in the milk mineral concentrate market include Arla Foods Ingredients, Armor Proteines, Food Ingredient Technology Co., Ltd., Lactalis Ingredients, Garuda International Inc., Fonterra, Donaghys, ADM, MG Ingredients, Whiteoakmills, and Draco Ingredients. Industry leaders continue to pursue strategic partnerships and expand their product offerings to maintain a competitive edge.

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Milk Protein Market: https://www.fairfieldmarketresearch.com/report/milk-protein-market

Coconut Milk Market: https://www.fairfieldmarketresearch.com/report/coconut-milk-market

Almond Milk Market: https://www.fairfieldmarketresearch.com/report/almond-milk-market

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COMTEX_437787629/2840/2023-08-03T14:33:18

The global demand for natural and plant-based ingredients has driven the remarkable expansion of the citrus extract market. Derived from citrus fruits such as lemon, lime, orange, and grapes, citrus extract offers numerous health benefits and finds wide applications in the food and beverages, pharmaceutical, and consumer products industries.

For More Industry Insight, Read: https://www.fairfieldmarketresearch.com/report/citrus-market

A Natural Immunity Booster: Citrus Extract Gains Popularity

Rich in essential vitamins and phytochemicals, citrus extract is known for its immune-boosting properties, making it highly sought after in the market. With increasing awareness about the importance of a healthy lifestyle, the demand for citrus extract has surged across various industries.

COVID-19 Pandemic Amplifies Citrus Extract Demand

The outbreak of COVID-19 has further accelerated the demand for citrus extract, particularly vitamin C. Studies have shown that vitamin C can strengthen the immune system, reducing the risk of severe viral infections. As medical experts recommend the intake of vitamin C for COVID-19 patients, consumers have shifted towards immune-boosting supplements, fueling the growth of the citrus extract market.

Pharmaceutical and Dietary Supplements Lead the Market

The pharmaceutical and dietary supplements segment holds the most significant value share in the citrus extract market. Using citrus extract as an immunity booster and its application in COVID-19 treatments have contributed to the segments dominance. The food and beverages industry is also expected to grow significantly, driven by the rising preference for vitamin C-fortified products.

Supply Chain Disruptions Pose Challenges

Despite the markets positive trajectory, challenges like citrus fruit production shortages and supply chain disruptions have impacted the citrus extract market. Fluctuations in citrus fruit production in major producing countries like Brazil, China, and the U.S. have affected the overall market. Furthermore, labor shortages and supply chain disruptions due to the COVID-19 pandemic have affected market growth.

North America and Europe: Key Players in the Citrus Extract Market

North America and Europe are prominent in the citrus extract market, with increasing demand for immune health supplements. Vitamin C deficiency is prevalent in nearly 23 million Americans, further driving the need for citrus extract products in these regions.

Innovations by Leading Players

Key global citrus extract market players, including Symrise AG, Kerry Group, and Givaudan, continue to innovate and develop new product offerings. Clean-label citrus extracts have gained attention, with companies like Kerry Group launching a new line of natural and clean label citrus extracts to cater to the need for immunity-boosting beverages.

Citrus Extract Market- Recent Developments in the Markets Competitive Landscape https://medium.com/@aaryapathakk/orthopedic-implants-market-study-new-project-investment-and-forecast-till-2030-a4a6595d6e1

Citrus Extract Market: Global Demand Analysis & Opportunity Outlook 2030 https://vherso.com/post/179960_small-scale-lng-sslng-market-cagr-key-players-applications-regions-till-2030-sma.html

Citrus Extract Market Volume Forecast and Value Chain Analysis during 2023-2030 https://www.hockeynhlforum.com/post/47568_biomedical-waste-management-market-cagr-key-players-applications-regions-till-20.html

Citrus Extract Market Trends, Leading Players and Forecast 2030 https://insta.tel/read-blog/19490

Citrus Extract Market- Recent Developments in the Markets Competitive Landscape https://sharingfield.com/read-blog/43167

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COMTEX_437759331/2840/2023-08-03T04:11:56

Asthma, a chronic respiratory disorder, continues to pose a rising burden on a global scale, contributing significantly to the growth of the asthma treatment market. This prevalent respiratory disease has become a major cause of mortality worldwide, affecting millions of individuals and resulting in economic and mental strain. According to the World Health Organization (WHO), the prevalence of asthma has been steadily increasing, with around 262 million individuals affected by the disease and approximately 455,000 deaths recorded in 2019 alone. Each year, about 339 million people develop asthma, with the majority of deaths observed in older adults. The Global Initiative for Asthma 2020 report highlights that asthma affects 1-18% of the population in different countries, and its prevalence continues to rise globally. This alarming trend has triggered a demand for advanced therapeutics to effectively treat asthma, leading to the expansion of the asthma treatment market.

For more information, please refer to the full report: https://www.fairfieldmarketresearch.com/report/asthma-treatment-market

Asthma and the COVID-19 Pandemic

The year 2020 brought an unforeseen challenge in the form of the COVID-19 pandemic, which further emphasized the importance of developing advanced therapeutics for asthma treatment. Both asthma and the Sars-CoV-2 virus primarily affect the respiratory system, making it crucial to have sophisticated medications to address these conditions. With a growing patient pool suffering from asthma and heightened concerns about respiratory health, the Centers for Disease Control and Prevention (CDC) issued special and stringent guidelines for individuals with asthma during 2019-2020. This surge in demand for novel and advanced drugs to treat asthma has fueled the growth of the asthma treatment market.

Research and Development (R&D) and New Drug Launches

The rising cases of asthma have prompted pharmaceutical companies to invest heavily in research and development for asthma treatment. Leading players in the asthma treatment market are dedicated to developing advanced drugs and therapeutics, conducting clinical trials to secure approvals from healthcare authorities. The evaluation of new drug candidates aims to achieve better control of asthma symptoms and improved lung functioning among patients. Notably, post the COVID-19 pandemic, the sales of advanced asthma treatments witnessed significant growth. Regulatory authorities prioritized approvals for advanced asthma therapeutics during the 2019-2020 timeframe, as evidenced by the approval of respective generic asthma treatment drugs of Cipla and Lupin by the US Food and Drug Administration (FDA) in April 2020. This trend has triggered the launch of new advanced drugs from major players in the asthma treatment market, further influencing its growth on a global scale.

Impact of Air Pollution on Asthma Cases

Air pollution has been linked to an increase in asthma cases among both adults and children. Extensive research has established a strong association between asthma in children and exposure to outdoor and indoor air pollution. Factors such as second-hand smoking, traffic-related air pollution, and nitrogen dioxide have been identified as critical contributors to asthma, especially in children. Prolonged exposure to these pollutants can have adverse effects on individuals, causing impaired lung function, exacerbation of symptoms, and increased asthma prevalence. The alarming rise in air pollution worldwide is expected to further fuel the need for asthma medications and drugs, thereby boosting the growth of the asthma treatment market.

Dominance of North America in the Asthma Treatment Market

North America is poised to hold a significant revenue share in the asthma treatment market. The regions developed economies have witnessed a surge in asthma cases, along with the presence of major players in the asthma treatment industry. For instance, the Asthma and Allergy Foundation of America (AAFA) reported that more than 25 million individuals were affected by asthma in the United States in 2019, and around 11 people died from asthma every day in the country. Additionally, the Centers for Disease Control and Prevention (CDC) reported that approximately 25,257,138 individuals, including both adults and children, were affected by asthma in the United States in 2020. This escalating burden has led to an increased demand for high-performance drugs to effectively treat this respiratory disease. Moreover, the regions robust healthcare infrastructure, government support, incentives, and stable growth in GDP per capita play a vital role in driving the growth of the asthma treatment market in North America.

Competitive Landscape of the Asthma Treatment Market

The asthma treatment market features several major players committed to providing innovative solutions for asthma management. Leading pharmaceutical companies such as AstraZeneca, Novartis AG, Mylan N.V., GlaxoSmithKline Plc, Sanofi, Merck & Co. Inc., Sumitomo Dainippon Pharma Co. Ltd., Regeneron, Cipla, Teva Pharmaceuticals, and Lupin Pharmaceuticals are actively involved in developing and marketing advanced asthma treatments. Their contributions to research and development, coupled with new drug launches, have significantly impacted the growth and development of the asthma treatment market.

Conclusion

The rising burden of asthma continues to drive the growth of the asthma treatment market on a global scale. With an increasing number of asthma cases and the impact of the COVID-19 pandemic, the demand for advanced therapeutics to effectively manage asthma has surged. Research and development efforts have resulted in the approval and launch of novel asthma treatments, leading to a highly competitive market landscape. Furthermore, the detrimental effects of air pollution on asthma prevalence highlight the urgent need for effective medications to alleviate respiratory distress. As North America maintains its dominance in the asthma treatment market, the focus on developing innovative and efficient asthma treatments remains paramount to improve the quality of life for millions of individuals affected by this chronic respiratory condition.

COMTEX_437751218/2840/2023-08-02T22:11:47

The chemical distribution market in the United Kingdom is projected to exhibit a promising growth curve in the coming years, driven by significant developments in the chemical industry and other key end-use sectors. A recent report offers insights into the unfolding market growth and outlines the strategies that chemical manufacturers are adopting to leverage the distribution network.

Read More: https://www.fairfieldmarketresearch.com/report/chemical-distribution-market

Alliance with Chemical Distributors: A Key Strategy

Over the past few years, chemical manufacturers have been transitioning towards third-party distribution channels to streamline their supply chains and explore new opportunities for growth. By forming strategic alliances with chemical distributors, manufacturers can benefit from value-added services such as inventory management and outsourced formulations. This enables them to focus on core aspects of their manufacturing plant, while distributors take charge of logistics, packaging, and warehousing. Although this may slightly reduce profit margins, manufacturers can increase their volume sales and tap into diverse industrial sectors simultaneously, positively impacting the chemical distribution market.

Industrial Growth and Demand for Chemicals

The growth of various industrial sectors, including manufacturing, cosmetics, agriculture, automotive, textile, and aerospace, has propelled the demand for chemicals. As a result, manufacturers are increasingly relying on chemical distributors with strong distribution networks to reach diverse end-use applications. Furthermore, the medical sectors investment in pharmaceutical manufacturing, particularly active pharmaceutical ingredients (APIs), has led to increased demand for chemicals like chlorine for drug synthesis. Similarly, the construction industrys focus on innovation to combat rising pollution levels has resulted in the production of smog-combating chemical products, contributing to the growth of the chemical distribution market.

Digitizations Impact on the Market

Digitization has been a game-changer for various industries, including the chemical sector. Many chemical manufacturers are exploring digital enablement strategies, utilizing technologies like digital control and electronic management systems. This transformation has influenced the entire industry value chain, including chemical distribution. Distributors are urged to adopt digital techniques to retain existing customers and attract new prospects. Additionally, with the rise of e-commerce platforms, new entrants are eyeing the chemical sector, which may affect traditional distribution models. By forming alliances with startups and principal chemical manufacturers, distributors can maintain their position in the market and mitigate potential disruptions caused by digitization.

Specialty Chemicals to Witness Rapid Growth

The demand for specialty chemicals has been on the rise, particularly in industries such as automotive, construction, pharmaceuticals, and electronics. These customized chemical solutions offer high performance and cater to specific application requirements, driving their distribution and contributing to the revenue growth of the chemical distribution market.

Asia Pacific Leading the Way

Asia Pacific is expected to witness substantial growth in the chemical distribution market, driven by a thriving chemical industry and the presence of various end-use sectors in the region. The availability of labor, land, and raw materials further fuels industrial growth in the region, making it an attractive revenue pocket for chemical distributors.

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Early Production Facility (EPF) Market: Market Trends and Forecast 2023-2030

https://www.vingle.net/posts/6572900

Logistics Management Services Market: Current Trends, Growth Drivers, and Future Opportunities 2023-2030

https://www.deviantart.com/insightspro/art/Logistics-Management-Services-Market-Current-Trend-975012791

Laboratory Informatics Market Share, Size Global Growth Analysis From 2023-2030

https://issuu.com/fmrresearch/docs/laboratory_informatics_market_share_size_global_g

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COMTEX_437732923/2840/2023-08-02T14:26:26

The global asthma treatment market is witnessing substantial growth due to the rising prevalence of chronic respiratory disorders like asthma worldwide. Asthma is considered one of the most common and chronic respiratory diseases, causing significant mortality across the globe. According to the World Health Organization (WHO), since 2019, the proliferation of asthma has been increasing, affecting around 262 million individuals and resulting in approximately 455,000 deaths in the same year. The WHO also reports that about 339 million individuals develop asthma annually, with older adults being the most affected by the disease. Furthermore, the Global Initiative for Asthma 2020 report indicates that asthma affects around 1-18% of the population in different countries, and its prevalence has been rising globally. This escalating burden of asthma has fueled the demand for advanced therapeutics, leading to the expansion of the asthma treatment market.

For More Information Visit: https://www.fairfieldmarketresearch.com/report/asthma-treatment-market

The COVID-19 pandemic in 2020 further emphasized the importance of developing advanced medications for asthma treatment, as both asthma and the Sars-CoV-2 virus affect the respiratory system. The pandemic heightened concerns about respiratory health, particularly for individuals suffering from asthma and the Sars-CoV-2 virus, as it exacerbated asthma symptoms. The Centers for Disease Control and Prevention (CDC) issued strict guidelines for individuals with asthma during 2019-2020, highlighting the need for novel and advanced drugs to treat the condition and thus boosting the growth of the asthma treatment market.

The rise in research and development activities by companies focused on asthma treatment has led to the development of advanced drugs and therapeutics. Clinical trials are being conducted to gain approvals from healthcare authorities, leading to the introduction of new drug candidates that can control asthma symptoms and improve lung functioning in patients. The post-COVID-19 period saw a significant increase in sales of advanced asthma treatments, and several high-priority approvals were granted by regulatory authorities during 2019-2020, facilitating the launch of new drugs in the asthma treatment market.

Another factor driving the growth of the asthma treatment market is increasing air pollution, which is known to cause asthma in both adults and children. Research has established a strong link between asthma in children and exposure to outdoor and indoor air pollution, including secondhand smoke, traffic-related air pollution, and nitrogen dioxide. The global rise in air pollution is expected to contribute to the growing prevalence of asthma, thereby boosting the demand for medications and asthma drugs.

North America holds a dominant position in the global asthma treatment market, attributed to the increasing prevalence of asthma in developed economies within the region and the presence of major market players. For instance, in the United States, over 25 million individuals were affected by asthma in 2019, with around 11 individuals succumbing to the disease daily. The robust healthcare infrastructure, government support, incentives, and stable GDP per capita growth in North America also contribute to the markets growth in this region.

Prominent players in the asthma treatment market include AstraZeneca, Novartis AG, Mylan N.V., GlaxoSmithKline Plc, Sanofi, Merck & Co. Inc., Sumitomo Dainippon Pharma Co. Ltd., Regeneron, Cipla, Teva Pharmaceuticals, and Lupin Pharmaceuticals.

The asthma treatment market is expected to witness continued growth as the burden of asthma rises globally. Advances in research and development, along with new product launches, will play a crucial role in driving the market forward.

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COMTEX_437725763/2840/2023-08-02T12:19:29

The global electrolyzer market is poised to witness significant growth during the stipulated time span, unfurling multiple facets of clean fuel demand and expanding electric vehicle (EV) sales. With an increasing understanding of the adverse effects of fossil fuel consumption and growing environmental concerns, the demand for clean fuels is on the rise. Governments favorable policies supporting the electrolyzer industry, along with the surge in EV sales, are expected to fuel the growth of the electrolyzer market.

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Driving Factors

1. Escalating EV Sales: The rising adoption of electric vehicles is generating demand for hydrogen electrolyzers and refueling stations, propelling the electrolyzer markets growth.
2. Diverse Applications: Electrolyzers are used to produce industrial gas for various applications, including flat glass manufacturing, semiconductor processes, and the steel sector. They also play a key role in manufacturing environmentally friendly chemicals like methanol, fertilizers, ammonia, and liquid jet fuel.
3. Green Hydrogen Demand: Governments across the globe are focusing on developing sustainable hydrogen economies, as hydrogen is considered a green fuel with minimal carbon emissions. This has prompted investments in research and development to improve the efficiency and cost-effectiveness of electrolysis.
4. Supportive Policy Environment: Regulatory policies promoting low-carbon technologies are positively impacting the electrolyzer market. Many nations are carrying out research and development activities to assess hydrogens viability as a clean fuel for transportation.

COVID-19 Impact

The COVID-19 pandemic has affected the hydrogen demand in steel production, chemical, and oil refining industries. However, economic stimulus programs and the persistent efforts of industry participants in the post-pandemic period are projected to drive the deployment of electrolysis systems.

Challenges

The cost of electricity remains a significant factor affecting hydrogen production via electrolysis. Nevertheless, the decreasing costs of renewable energy sources like solar and wind are making renewable hydrogen more economically viable for end users.

Regional Insights

1. North America: The region holds the largest share in terms of value and volume, with the US and Canada driving the green hydrogen industry through clean energy policies and infrastructure development.
2. Europe: Rising investments and supportive legislative frameworks for energy security are contributing to the growth of the electrolyzer market. Projects like the UKs investment plan to produce green hydrogen using offshore wind are fostering the markets expansion.

Competitive Landscape

Leading players in the electrolyzer market include Nel Hydrogen, Siemens AG, McPhy Energy, Air Liquide, Ballard Power Systems, Plug Power Inc., and others. Companies are investing in research and development to create carbon-free goods and enhance the performance of electrolyzers.

Conclusion

The global electrolyzer market is witnessing substantial growth potential driven by the increasing demand for clean fuels and the growth of electric vehicle sales. Favorable government policies, diverse applications of electrolyzers, and the need for green hydrogen in various industries are key factors fostering market expansion. Challenges related to electricity costs are being addressed with advancements in renewable energy sources, making electrolysis a competitive means of meeting clean energy needs.

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Mobility as a Service (MaaS) Market 2023-2030

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COMTEX_437730722/2840/2023-08-02T13:48:56

A comprehensive market research report by Fairfield Market Research projects that the global 3D printing in healthcare market is poised to witness significant growth at a CAGR of 19.8% during the period from 2023 to 2030. The market is anticipated to reach a value of approximately US$14 billion by the end of 2030, showcasing a remarkable more than 4x expansion in revenue over the decade from 2021 to 2030.

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Driving Factors: A Healthcare Revolution Powered by 3D Printing

The healthcare industry has experienced substantial growth in recent years, driven by increased public-private investments, the rise in the prevalence of chronic disorders, and remarkable advancements in 3D printing technology. 3D printing, also known as additive manufacturing, offers numerous benefits such as the production of patient-specific devices, lower manufacturing costs with bulk volume, and just-in-time production approaches. Moreover, the technology holds great promise in addressing the global shortage of organs through bioprinting, leading to increased investments in research and development for the creation of fully functional organs.

Dentistry: A Key Driver of Growth

The adoption of 3D printing technology in dentistry is witnessing a remarkable surge, propelled by higher disposable income, improved insurance policies, and the growing importance of physical appearances, driven in part by the influence of social media. Renowned companies like Align Technology are investing in 3D printing technology to enhance their manufacturing capabilities, leading to the creation of highly customized production solutions.

Segment Analysis: Jetting Technologies and Bioprinting

Jetting technologies, including VAT photopolymerization, powder bed fusion, and material extrusion, are highly sought-after applications for dental and medical purposes. Material jetting and binder jetting, known for their higher accuracy, are gaining increasing popularity for medical models. Additionally, 3D bioprinting is paving the way for personalized medicine, with groundbreaking applications such as bioprinting organs, synthetic skin tissue, and knee meniscus tissue development.

Regional Overview: Asia Pacific Leads, North America Experiences Strong Growth

Asia Pacific is poised to dominate the 3D printing in healthcare market, driven by its prominent geriatric population, increasing disposable income, and growing demand for advanced healthcare services. The region is expected to experience the highest growth rate of approximately 21% during the forecast period. In North America, the market will also witness substantial growth, with the US being a key competitor due to its advanced infrastructure and strong presence of industry players.

Challenges and Opportunities

While the 3D printing in healthcare market is on track for substantial growth, certain challenges may limit its adoption. These challenges include limited raw material choices, energy-intensive 3D printers, design inaccuracies, and the requirement of post-processing. However, advancements in technology and better familiarity with its applications in healthcare are expected to mitigate these challenges and propel market growth.

Leading Players in the Market

Prominent players in the global 3D printing in healthcare market include 3D Systems, Inc., Stratasys LTD, Materialise NV, General Electric Company, Organovo Holdings Inc, Formlabs, 3T Additive Manufacturing Ltd, 3D Bioprinting Solutions, Aspect Biosystems, BICO, CELLINK, among others. These industry leaders are contributing significantly to the development and expansion of the 3D printing in healthcare landscape.

Market Segmentation

3D Printing in Healthcare Market By Material

• Metals
• Polymers
• Biomaterials
• Other

3D Printing in Healthcare Market By Technology

• VAT photopolymerization
• Powder Bed Fusion
• Material Extrusion
• Material Jetting
• Binder Jetting
• Other

3D Printing in Healthcare Market By Applications

• Medical Models
• Implants & Prostheses
• Medical Aids, supportive guides, splints
• Tools, instruments and parts of medical devices
• Biomanufacturing

Browse Global 3D Printing in Healthcare Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 (By Material, By Technology, By Application, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/3d-printing-in-healthcare-market

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COMTEX_437651705/2840/2023-08-01T05:12:44

The rare earth elements (REE) market, also known as rare earth oxides (REO) or lanthanides, witnessed substantial growth in 2020, valued at US$3.5 billion. It is now predicted to reach US$7.3 billion by the end of 2026, exhibiting a remarkable CAGR of 10.2% between 2022 and 2026. A recent market analysis highlights the growing significance of rare earth elements in clean energy technologies, wind farms, and various high-tech industries, propelling the industrys expansion.

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Clean Energy Technologies Stealing the Limelight

Clean energy technologies, particularly electric vehicles (EVs) and wind power generation, are expected to be the primary drivers behind the rare earth elements markets growth in the coming years. The increasing demand for neodymium-based magnets, ideal for EVs, is anticipated to surge as the global sales of electric vehicles are predicted to reach 32 million units by 2030, representing a tenfold increase from current sales figures.

Sustained Uptake by Wind Farms

The rare earth elements industry is set to benefit from the growing trend of vehicle electrification, specifically in NiMH batteries used in hybrid vehicles. Light rare earth elements such as lanthanum, cerium, praseodymium, and samarium are expected to be key beneficiaries of this trend. Additionally, rare earth elements play a crucial role in modern wind farms, with the global offshore wind industry witnessing substantial growth despite the challenges posed by the pandemic. The cumulative offshore wind power capacity is projected to reach 228 GW by 2030, with 40 GW/year of new installations expected between 2020 and 2030, according to the International Renewable Energy Agency (IRENA).

Growing Application in Efficient Lighting

The market for rare earth elements is expected to thrive with the growing application of magnets in phosphors, making them essential for energy-efficient lighting solutions. Innovation in recycling and investment in newer technologies provide promising opportunities for the market. The possibility of reclaiming rare earth elements from end-of-life electronics draws new investments, attracting both new entrants and existing companies in the rare earth elements industry.

Challenges: REE Scarcity and Constant Threat from Chinas Trade Policy

Despite the growing demand for rare earth elements, the industry faces challenges related to scarcity and Chinas trade policies. Recovery of rare earths from secondary resources, such as rare-earth polishing powder waste, has become a significant focus in global research due to current shortages. Moreover, Chinas precarious trade policies hold massive influence on the industry, leading to supply chain disruptions, fluctuating tariffs, and soaring product prices. To address these challenges, governments across Western economies are exploring recycling rare earth elements as a key supply source in the future, aiming to establish a robust supply chain outside China.

China Leads Demand and Production

China remains the dominant player in the global rare earth elements market, accounting for over 85% of the refined supply (separation and processing) in 2020. However, its share in the supply of REE ore and concentrates has dropped to 58% in the same year, as other countries such as Australia, the U.S., and Myanmar have increased their share substantially. Asia Pacific continues to be the largest consumer of rare earth elements, holding over 80% of the global market.

New Processing Capacities and Collaborations Outside China

Companies outside China, such as Lynas Rare Earth Ltd. and MP Materials, have emerged as major producers of rare earth elements. The U.S. and Russia are also taking steps to reduce dependency on China by planning new projects and offering incentives. However, companies positioned in China still maintain an upper hand in the market due to state-backed funding and strong downstream integrated capacities.

Market Segmentation

The Rare Earth Elements Market is Segmented by Product Coverage Into

• Light Rare Earth Elements
  • Lanthanum
  • Cerium
  • Neodymium
  • Samarium
  • Praseodymium
  • Misc. (Europium, etc.)
• Heavy Rare Earth Elements
  • Yttrium
  • Dysprosium
  • Gadolinium
  • Terbium
  • Erbium
  • Misc. (Holmium, Thulium, etc.)

Applications of Rare Earth Elements Market include

• Magnets
• Catalysts
  • FCC Catalysts
  • Automotive Catalysts
• Metallurgy
• Polishing Powders
• Phosphors
• Ceramics
• Batteries
• Misc. (Defence, Chemical, Glass, etc.)

Leading Companies

Prominent companies contributing to the rare earth elements market include

• China Northern Rare Earth (Group) High-Tech Co. Ltd.
• China Minmetals Rare Earth Co. Ltd.
• Jiangxi Copper Corporation Limited
• Shenghe Resources Holdings Co. Ltd.
• Xiamen Tungsten Co., Ltd.
• Guangdong Rare Earth Industry Group Co., Ltd.
• Grinm Advanced Materials Co., Ltd.
• China Rare Earth Holdings Limited
• MP Materials
• Lynas Rare Earths, Ltd.
• IREL Limited

Browse Global Rare Earth Elements Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2026 -(By Product Coverage, Application Coverage, By Geography, Leading Companies): https://www.fairfieldmarketresearch.com/report/global-rare-earth-elements-market

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This press release first seen on Brilad

COMTEX_437651704/2840/2023-08-01T05:12:44