Lanthanum Market Introduction
- Lanthanum (La) is a soft, silvery white, ductile, and malleable metal, which tarnishes gradually after exposure to air. It is one of the rare earth metals and is naturally found in sediment along with cerium and various other rare earth elements. Lanthanum is abundantly available on the earth. Lanthanum is used in various applications such as additives in glass, catalysts, ignition elements in torches and lighters, electron cathodes, and scintillators.
- Lanthanum carbonate is used as a phosphate binder in medicines to treat high levels of phosphate in the blood
- Approximately 10 kg of lanthanum is used in the manufacture of a single hybrid electric car.
- Based on product type, the global lanthanum market can be divided into lanthanum oxide, lanthanum chloride, lanthanum boride, lanthanum acetate, lanthanum carbonate, and others. The lanthanum oxide segment is expected to drive the global lanthanum market during the forecast period. Lanthanum oxide is widely used as a feedstock for certain catalysts as well as in components of optical materials in some ferroelectric materials.
- Based on application, the global lanthanum market can be segregated into filament glass coatings, fluidic catalytic cracking (FCC) catalysts, hydrogen storage, battery & non-battery alloys, electrical & electronics, and others. The fluidic catalytic cracking (FCC) catalysts segment dominated the global lanthanum market in 2020. Lanthanum is widely used in cracking reaction of fluidic catalytic cracking (FCC) catalysts for the production of high-octane gasoline from crude oil.
Key Drivers and Restraints of Lanthanum Market
- Rise in demand for lanthanum in hybrid vehicle manufacturing is a key factor driving the global lanthanum market. Lanthanum is primarily used to manufacture nickel-metal hydride batteries, which are employed in hybrid vehicles. Rise in demand for rare earth metal catalysts is also projected to contribute to the growth of the global lanthanum market.
- Enactment of government regulations and policies related to mining, decreasing reserves, and environmental risks related to the production of lanthanum are some of the key constraints that are projected to hamper the market in the near future
- Economic slowdown triggered by the COVID-19 pandemic is also adversely affecting the demand for lanthanum, as many manufacturing facilities have been temporarily shut down. The pandemic has also impacted product and inventory transportation, as mining as well as logistics services have been hampered. This has negatively impacted the global lanthanum market.
- Dearth of universal directives pertaining to applications of lanthanum is expected to restrain the market during forecast period. Every country has different directives pertaining to applications of lanthanum. Companies find it difficult to deal with these country-wise regulations. This is discouraging investment in the lanthanum market, thereby restraining the market.
COVID-19 impact on Lanthanum Market
- The COVID-19 outbreak is hampering the demand for lanthanum in many applications. Governments of various countries across the globe enforced stringent lockdowns to curb the spread of the coronavirus. This led to a slowdown in manufacturing operations and restrictions on supply and transport, thus affecting the lanthanum market.
- Key players operating in the lanthanum market are primarily tier I and tier II manufacturers and suppliers. Manufacturing and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of lanthanum.
Asia Pacific to Account for Significant Share of Global Lanthanum Market
- In terms of region, the global lanthanum market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is the key manufacturer as well as consumer of lanthanum across the globe. It is anticipated to hold significant share of the global lanthanum market during the forecast period due to the easy availability of raw materials, especially in Japan and China.
- Increase in demand for lanthanum in the electrical & electronics industry in countries in Asia Pacific such as China and India is anticipated to drive the market in the region. Expansion of the automotive industry in Asia Pacific is likely to boost the lanthanum market, as lanthanum is used to manufacture nickel-metal hydride batteries that are employed in hybrid cars.
- The market in Latin America and Middle East & Africa is projected to expand at a steady pace during the forecast period
Key Players operating in Global Lanthanum Market
The global lanthanum market was moderately consolidated in 2020. Prominent players operating in the global lanthanum market seek to enter into partnership agreements and joint ventures to expand their global reach.
Key players operating in the global lanthanum market include:
- Avalon Advanced Materials
- Merck KGaA
- Cathay Advanced Materials
- Beijing Cerametek Materials
- Metall Rare Earth
Global Lanthanum Market: Research Scope
Global Lanthanum Market, by Product Type
- Lanthanum Oxide
- Lanthanum Chloride
- Lanthanum Boride
- Lanthanum Acetate
- Lanthanum Carbonate
Global Lanthanum Market, by Application
- Filament Glass Coatings
- Fluidic Catalytic Cracking (FCC) Catalysts
- Hydrogen Storage
- Battery & Non-battery Alloys
- Electrical & Electronics
Global Lanthanum Market, by End-use
- Paints & Coatings
- Personal Care
- Drug & Pharmaceuticals
Global Lanthanum Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.