India Rare Earth Metals Market (2022-2028) | Growth, Industry, Size, Revenue, Share, Outlook, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Market Forecast By Type (Cerium Oxide, Lanthanum Oxide, Neodymium Oxide, Yttrium Oxide, Praseodymium Oxide, Samarium Oxide, Gadolinium Oxide, Dysprosium Oxide), By Application (Permanent Magnets, Metal Alloys, Glass Polishing, Glass Additives, Catalysts, Phosphors, Ceramics, Others) And Competitive Landscape

Product Code: ETC343824 Publication Date: Aug 2023 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 75 No. of Figures: 35 No. of Tables: 20

India Rare Earth Metals Market Shipment Analysis

India Rare Earth Metals Market registered a decline of -20.39% in value shipments in 2022 as compared to 2021 and an increase of 10.63% CAGR in 2022 over a period of 2017. In Rare Earth Metals Market India is becoming more competitive as the HHI index in 2022 was 6790 while in 2017 it was 7704. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Rare Earth Metals Market.

India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Rare Earth Metals Market in 2022 was 58.29 while in 2017 it was 90.39. China, Japan, USA, Singapore and United Kingdom were among the top players of the market in 2022, where China acquired the largest market share of 81.47% with a shipment value of 2.73 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 86.93% with the shipment value of 1.99 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.

India Rare Earth Metals Market Synopsis

The India Rare Earth Metals Market is projected to reach new growth of success over the forecast period. Rare earth metals are the metals that are unusual and they have a small number of uses. These metals are vital for the production of various products and sectors. The market is growing rapidly and there are many factors that are aiding the market to grow.

According to 6Wresearch, the India Rare Earth Metals Market size is expected to grow during 2022-2028. India is one of the biggest industries for rare earth metals in the world. Rare earth metals are the metals that are unusual and they have a small number of uses. These metals are vital for the production of various products and sectors. The most significant factor that is boosting the progression of this market in India is the increasing use of rare earth metals in automotive as well as electronics sectors. Another major driver for the industry growth is the availability of earth minerals in many parts of the globe which is supporting their demand in the country. Other essential factors driving the industry are the growing demand of these metals from renewable energy, growing investments and increasing industrialization in the country. The evolvement of smart devices in the country is also contributing to the development of this industry. The government initiatives to promote this sector is also fueling the market growth. However, limited supply of these metals and their high costs are restraining the evolution of this industry. Furthermore, the India Rare Earth Metals Market share is anticipated to boost since the market will overcome these challenges in the near future.

COVID-19 Impact on India Rare Earth Metals Industry

The pandemic led to interruptions on mining activities owing to which the rare earth metals sector in India faced challenges. Disruption in mining activities led to disruption in this sector since without mining activities the progression of this market is not possible. This market has become a major part of Asia Pacific Rare Earth Metals Market. In order to limit the spread of the virus, India government had to impose lockdown which reduced mining activities and reduction in mining activities led to disruption in this propelling market. The market is now evolving at a rapid pace after dealing with many challenges during the coronavirus pandemic.

Market Analysis by Type

Based on type, the Rare Earth Metals Market in India is segmented into Cerium Oxide, Lanthanum Oxide, Neodymium Oxide, Yttrium Oxide, Praseodymium Oxide, Samarium Oxide, Gadolinium Oxide, and Dysprosium Oxide. All these segments are growing effectively in the sector. They will boost the market growth at a faster pace in the years to come.

Market Analysis by Application

Based on application, the market in the nation can be divided into Permanent Magnets, Metal Alloys, Glass Polishing, Glass Additives, Catalysts, Phosphors, Ceramics, and Others. All these segments are dominating the market. These segments are predicted to dominate the industry.

India Rare Earth Metals Market Drivers

The most significant factor that is boosting the progression of this market in India is the increasing use of rare earth metals in automotive as well as electronics sectors. Another major driver for the industry growth is the availability of earth minerals in many parts of the globe which is supporting their demand in the country.

Another major driver for the industry growth is the availability of earth minerals in many parts of the globe which is supporting their demand in the country. Other essential factors driving the industry are the growing demand of these metals from renewable energy, growing investments and increasing industrialization in the country. The evolvement of smart devices in the country is also contributing to the development of this industry.

Key attractiveness of the report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2018 to 2021.
  • Base Year: 2021.
  • Forecast Data until 2028.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report

  • India Rare Earth Metals Market Outlook
  • Market Size of India Rare Earth Metals Market, 2021
  • Forecast of India Rare Earth Metals Market, 2028
  • Historical Data and Forecast of India Rare Earth Metals Revenues & Volume for the Period 2018 - 2028
  • India Rare Earth Metals Market Trend Evolution
  • India Rare Earth Metals Market Drivers and Challenges
  • India Rare Earth Metals Price Trends
  • India Rare Earth Metals Porter's Five Forces
  • India Rare Earth Metals Industry Life Cycle
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Type for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Cerium Oxide for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Lanthanum Oxide for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Neodymium Oxide for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Yttrium Oxide for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Praseodymium Oxide for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Samarium Oxide for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Gadolinium Oxide for the Period 2018 - 2028
  • Historical Data and Forecast of India Cerium Oxide Rare Earth Metals Market Revenues & Volume By Dysprosium Oxide for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Application for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Permanent Magnets for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Metal Alloys for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Glass Polishing for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Glass Additives for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Catalysts for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Phosphors for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Ceramics for the Period 2018 - 2028
  • Historical Data and Forecast of India Rare Earth Metals Market Revenues & Volume By Others for the Period 2018 - 2028
  • India Rare Earth Metals Import Export Trade Statistics
  • Market Opportunity Assessment By Type
  • Market Opportunity Assessment By Application
  • India Rare Earth Metals Top Companies Market Share
  • India Rare Earth Metals Competitive Benchmarking By Technical and Operational Parameters
  • India Rare Earth Metals Company Profiles
  • India Rare Earth Metals Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

  • Cerium Oxide
  • Lanthanum Oxide
  • Neodymium Oxide
  • Yttrium Oxide
  • Praseodymium Oxide
  • Samarium Oxide
  • Gadolinium Oxide
  • Dysprosium Oxide

By Application

  • Permanent Magnets
  • Metal Alloys
  • Glass Polishing
  • Glass Additives
  • Catalysts
  • Phosphors
  • Ceramics
  • Others
India Rare Earth Metals Market: FAQs
The forecast period of this report is 2022-2028.
The pandemic led to interruptions on mining activities owing to which the rare earth metals sector in India faced challenges. Disruption in mining activities led to disruption in this sector since without mining activities the progression of this market is not possible.
The most significant factor that is boosting the progression of this market in India is the increasing use of rare earth metals in automotive as well as electronics sectors. Another major driver for the industry growth is the availability of earth minerals in many parts of the globe which is supporting their demand in the country.
Limited supply of rare earth metals and their high costs are the factors restraining the evolvement of this industry.
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