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The rare earth elements recycling market is extrapolated to observe promising growth across the forecast period of 2017-2025. The growing reliance on eco-friendly methods and the widening gap between the demand and supply of rare earth metals will prove to be primary growth factors. Furthermore, the expanding demand for consumer electronics will accelerate the growth opportunities across the rare earth elements recycling market to a considerable extent.

  • The growing disposable income of many individuals coupled with an increase in the purchasing power parity has resulted in escalating the demand for consumer electronics. As electronics use rare earth metals substantially in the production, the rare earth elements recycling market will observe great growth opportunities.
  • The environmental degradation caused due to the processing and mining of such metals will invite tremendous growth opportunities for the rare earth elements recycling market. Recycling is considered as a prominent process to protect the environment from harm. All these factors bode well for the growth of the rare earth elements recycling market.
  • Strategic collaborations and research and development activities help improve the overall growth trajectory of the rare earth elements recycling market. The players are involved in these activities for boosting their revenues, which ultimately contributes to the growth of the rare earth elements recycling market.

Rare Earth Elements Recycling Market: Overview

Rare earth elements, also known as REE or simply rare earths, are a group of seventeen elements from the periodic table, fifteen of which are lanthanides along with yttrium and scandium. Although their names suggest them to be rare in occurrence, it is not the case. Some of these elements are abundantly available; however, their concentrations are significantly low within the ore and, thus, called as rare earth elements. Rare earth elements have substantial and versatile usage in various applications ranging from daily consumer goods to super powerful magnets employed in wind energy generation and in shielding nuclear reactors. Some of the commonly used rare earth elements are yttrium, scandium, lanthanum, cerium, and neodymium. Several of these elements have the potential to be reused and recycled.

The recycling process at present is relatively uneconomical as concentrations of rare earth elements in most of the discarded waste are significantly low. Several parameters such as weak waste collection infrastructure, new and underdeveloped waste sorting and extracting technologies, and low quantity of rare earth per kilogram of waste largely hamper the rare earth element recycling industry presently. However, dependency of other countries on China for rare earth supply is compelling the countries to develop and employ technologies for rare earth element recycling. Sometimes, these ores exist along with other radioactive elements such as uranium or thorium making extraction of rare earths difficult and hazardous. Furthermore, the current rare earth reserves are poor in terms of rare earth elements present in the ore.  Thus, as demand and extraction continue to elevate, the resources are anticipated to deplete and exhaust, rendering the extraction of these elements uneconomical. Therefore, demand for rare earth elements need to be met through recycling. Moreover, certain applications have relatively higher concentrations of rare earth elements such as florescent light bulbs, rare earth magnets, etc. which are economical and feasible for recycling.

Based on type of element recycled, the rare earth elements recycling market can be segmented into yttrium recycling, neodymium recycling, cerium recycling, scandium recycling, and dysprosium recycling, among others. Neodymium recycling is a highly promising segment as neodymium magnets have great potential to be recycled. In terms of source, the rare earth elements recycling market can be classified into magnets, e-waste, automotive waste, municipal waste, etc. on the basis of recycling type, the rare earth elements recycling market can be bifurcated into functional recycling and non-functional recycling. Functional recycling reintroduces the metals back as raw materials, thereby creating circular economy for them. 

Based on geography, the global rare earth elements recycling market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Europe, followed by North America, are anticipated to be the key markets for rare earth elements recycling during the forecast period. These regions largely depend on Asia Pacific, especially, China for their need for rare earth. China’s dominance in the rare earth elements market coupled with varying supply and highly fluctuating prices of rare earth elements have made these regions the hub for rare earth recycling. In the later forecast period, Asia Pacific is projected to turn toward recycling of rare earth elements when its reserves deplete and extraction becomes uneconomical.

Key players operating in the global rare earth elements recycling market include Osram AG, Solvay Group, AERC Recycling Solutions, and Global Tungsten & Powders Corp. 

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
  • Europe
  • 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.

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Rare Earth Elements Recycling Market

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