Rare Earth Recycling Market Size is projected to reach USD 882 million by 2031, growing at a CAGR of 7.0%: Straits Research

New York, United States, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Rare earth metals such as the lanthanide family, scandium, and yttrium are required for permanent magnets, electric cars, cell phones, and wind turbines. The elements must be purified before use since they occur naturally as mixtures in ores. However, extracting and sorting the mineral ore is complex and energy- and waste-intensive. These toxins have become an environmental burden. Despite having the potential for reuse, most items are discarded after a single use. Recycling goods containing rare earth provides domestic manufacturers with a dependable source of rare earth resources while reducing waste.

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Environmental Impact of Mining Rare Earth Metals Drives the Global Market

Mining is the process through which rare earth metals are extracted. However, mining has various disadvantages, including being expensive and inefficient due to the vast area required to remove even a small quantity of rare earth metals. The extraction process also generates a substantial amount of radioactive and toxic waste, severely impacting the environment. As a result of rare-earth mining pollution, agriculturally unusable land and contaminated water sources have formed. Further, the presence of metals in an ecosystem can be lethal to organisms. Thus, the mining and separating of the mineral ore are difficult, energy- and waste-intensive processes. Recycling components processed into materials is an interesting alternative to mining; hence, demand for recycling these elements is predicted to expand over the forecast period.

Rising Adoption of Electric Vehicles and Wind Energy Creates Tremendous Opportunities

The rising demand for electric cars in recent years can be ascribed to customers' and manufacturers' growing environmental consciousness. It is anticipated that this need will soon increase the demand for and production of electric cars. Soon, international conventions and conferences such as the Kyoto Protocol, the Montreal Protocol, and the Paris Agreement are anticipated to increase the need for ultracapacitors, rechargeable batteries, and rare earth metals. The emphasis on renewable energy sources for power generation, such as wind, solar, and hydropower, to reduce carbon emissions has led to a strong demand for rare earth metals. In 2020, the worldwide market for rare earth metals for permanent magnets in wind turbines totaled seven thousand tonnes. The worldwide wind industry added 93 GW of new capacity in 2020, a 53% increase from the previous year. However, more must be done to ensure that the globe reaches net zero emissions by 2050.

Report Scope

Report Metric	Details
Market Size by 2031	USD 882 million
Market Size in 2022	USD 480 million
CAGR	7.0%
Historical Data	2020-2021
Base Year	2022
Forecast Period	2023-2031
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Technology, By Application, By Location
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Solvay , Hitachi Metals , REEcycle Inc , Jiangsu Huahong Technology Co. Ltd , Lynas , GanZhou QianDong Rare Earths Group Co., Ltd. , Mitsubishi Chemical Corporation , Nissan Motor Co Ltd , Geomega Resources , Shenghe Resources Holdings Co. Ltd.
Key Market Opportunities	Rising Adoption of Electric Vehicles and Wind Energy
Key Market Drivers	Environmental Impact of Mining Rare Earth Metals

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Regional Analysis

Europe is the most significant shareholder in the global rare earth recycling market and is expected to grow at a CAGR of 5.06% during the forecast period. The expansion of the European market is attributable to the rising demand for rare earth minerals and recycled materials used to manufacture high-tech goods such as smartphones and wind turbines. Due to their rising use in magnets, metallurgy, catalysts, glass, and ceramics, demand for rare earth in Europe is expected to rise. In Europe, the automotive industry is the largest end-user of rare earth. The Organization for International Cooperation on Automobiles (OICA) projects that in 2021, with a production share of 22.3%. Europe surpassed North America as the second-largest auto producer in the world, consequently driving market expansion.

North America is anticipated to grow at a CAGR of 5.84% over the forecast period. The region's expanding vehicle industry is boosting the need for rare earth elements. Tesla, a renowned American maker of electric vehicles, said in 2021 that neodymium would be utilized in its Model 3 Long Range automobiles. This step is likely to enhance neodymium demand throughout the forecasted timeframe. Due to the usage of rare earth elements in car exhaust systems to combat air pollution, the North American market is driving global expansion during the review period. It is predicted that consumer electronics and nuclear power will boost the demand for rare earth over the forecast period. With more than 30 percent of the world's energy derived from nuclear power, the United States leads the world. In addition, according to the World Nuclear Association, the government is developing two nuclear reactors. The rising demand for nuclear reactors is anticipated to stimulate market growth.

Key Highlights

• The global rare earth recycling market size is estimated to reach USD 882 million by 2031, growing at a CAGR of 7.0% during the forecast period (2023–2031).
• Based on type, the global rare earth recycling market is divided into light rare earth recycling and medium and heavy rare earth recycling. The light rare earth recycling segment is the highest contributor to the market and is expected to grow at a CAGR of 7.15% during the forecast period.
• Based on application, the global rare earth recycling market is segmented into glass, permanent magnets, catalysts, ceramics, phosphor, alloy manufacturing, and others. The permanent magnets segment owns the highest market share and is expected to grow at a CAGR of 8.09% over the forecast period.
• Europe is the most significant shareholder in the global rare earth recycling market and is expected to grow at a CAGR of 5.06% during the forecast period.

Competitive Players

The key players in the global rare earth recycling market are Solvay, Hitachi Metals, REEcycle, Inc, Jiangsu Huahong Technology Co., Ltd, Lynas, GanZhou QianDong Rare Earths Group Co., Ltd., Mitsubishi Chemical Corporation, Nissan Motor Co Ltd, Geomega Resources, and Shenghe Resources Holdings Co., Ltd.

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Global Rare Earth Recycling Market: Segmentation

By Type

• Light Rare Earth Recycling
• Medium and Heavy Rare Earth Recycling

By Applications

• Permanent Magnets
• Catalyst
• Glass
• Ceramics
• Phosphor
• Alloy Manufacturing
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

TABLE OF CONTENT

1. EXECUTIVE SUMMARY
2. RESEARCH SCOPE & SEGMENTATION

2. 1. Research Objectives
   2. Market Definition
   3. Limitations & Assumptions
   4. Market Scope & Segmentation
   5. Currency & Pricing Considered

3. MARKET OPPORTUNITY ASSESSMENT

3. 1. Emerging Regions / Countries
   2. Emerging Companies
   3. Emerging Applications / End Use
   4. Investment Landscape
   5. New Business Models / Revenue Streams
   6. TAM

4. MARKET TRENDS

4. 1. Drivers
   2. Market Warning Factors
   3. Latest Macro Economic Indicators
   4. Geopolitical Impact
   5. Human Factors
   6. Technology Factors

5. MARKET ASSESSMENT

5. 1. Porters Five Forces Analysis
   2. Value Chain Analysis
   3. Raw Material Analysis
   4. Sales And Distribution Channel Analysis
   5. Trade Analysis
   6. Patent Analysis
   7. M & A Agreements & Collabration Analysis
   8. Export Import Analysis
   9. Cost Structure Analysis

6. ESG TRENDS
7. GLOBAL RARE EARTH RECYCLING MARKET SIZE ANALYSIS
   1. Global Rare Earth Recycling Market Introduction
   2. By Type

7. 2. 1. Introduction

1. 1. 1. 1. Type By Value

7. 2. 2. Light Rare Earth Recycling

1. 1. 1. 1. By Value

7. 2. 3. Medium And Heavy Rare Earth Recycling

1. 1. 1. 1. By Value

7. 3. By Applications

7. 3. 1. Introduction

1. 1. 1. 1. Applications By Value

7. 3. 2. Permanent Magnets

1. 1. 1. 1. By Value

7. 3. 3. Catalyst

1. 1. 1. 1. By Value

7. 3. 4. Glass

1. 1. 1. 1. By Value

7. 3. 5. Ceramics

1. 1. 1. 1. By Value

7. 3. 6. Phosphor

1. 1. 1. 1. By Value

7. 3. 7. Alloy Manufacturing

1. 1. 1. 1. By Value

7. 3. 8. Others

1. 1. 1. 1. By Value

8. NORTH AMERICA MARKET ANALYSIS

8. 1. Introduction
   2. By Type

8. 2. 1. Introduction

1. 1. 1. 1. Type By Value

8. 2. 2. Light Rare Earth Recycling

1. 1. 1. 1. By Value

8. 2. 3. Medium And Heavy Rare Earth Recycling

1. 1. 1. 1. By Value

8. 3. By Applications

8. 3. 1. Introduction

1. 1. 1. 1. Applications By Value

8. 3. 2. Permanent Magnets

1. 1. 1. 1. By Value

8. 3. 3. Catalyst

1. 1. 1. 1. By Value

8. 3. 4. Glass

1. 1. 1. 1. By Value

8. 3. 5. Ceramics

1. 1. 1. 1. By Value

8. 3. 6. Phosphor

1. 1. 1. 1. By Value

8. 3. 7. Alloy Manufacturing

1. 1. 1. 1. By Value

8. 3. 8. Others

1. 1. 1. 1. By Value

8. 4. U.S.

8. 4. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Light Rare Earth Recycling
            1. By Value
         3. Medium And Heavy Rare Earth Recycling
            1. By Value

8. 4. 2. By Applications

1. 1. 1. 1. Introduction
            1. Applications By Value
         2. Permanent Magnets
            1. By Value
         3. Catalyst
            1. By Value
         4. Glass
            1. By Value
         5. Ceramics
            1. By Value
         6. Phosphor
            1. By Value
         7. Alloy Manufacturing
            1. By Value
         8. Others
            1. By Value

8. 5. Canada

9. EUROPE MARKET ANALYSIS

9. 1. Introduction
   2. By Type

9. 2. 1. Introduction

1. 1. 1. 1. Type By Value

9. 2. 2. Light Rare Earth Recycling

1. 1. 1. 1. By Value

9. 2. 3. Medium And Heavy Rare Earth Recycling

1. 1. 1. 1. By Value

9. 3. By Applications
      1. Introduction

1. 1. 1. 1. Applications By Value

9. 3. 2. Permanent Magnets

1. 1. 1. 1. By Value

9. 3. 3. Catalyst

1. 1. 1. 1. By Value

9. 3. 4. Glass

1. 1. 1. 1. By Value

9. 3. 5. Ceramics

1. 1. 1. 1. By Value

9. 3. 6. Phosphor

1. 1. 1. 1. By Value

9. 3. 7. Alloy Manufacturing

1. 1. 1. 1. By Value

9. 3. 8. Others

1. 1. 1. 1. By Value

9. 4. U.K.

9. 4. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Light Rare Earth Recycling
            1. By Value
         3. Medium And Heavy Rare Earth Recycling
            1. By Value

9. 4. 2. By Applications

1. 1. 1. 1. Introduction
            1. Applications By Value
         2. Permanent Magnets
            1. By Value
         3. Catalyst
            1. By Value
         4. Glass
            1. By Value
         5. Ceramics
            1. By Value
         6. Phosphor
            1. By Value
         7. Alloy Manufacturing
            1. By Value
         8. Others
            1. By Value

9. 5. Germany
   6. France
   7. Spain
   8. Italy
   9. Russia
   10. Nordic
   11. Benelux
   12. Rest Of Europe

10. APAC MARKET ANALYSIS

10. 1. Introduction
    2. By Type

10. 2. 1. Introduction

1. 1. 1. 1. Type By Value

10. 2. 2. Light Rare Earth Recycling

1. 1. 1. 1. By Value

10. 2. 3. Medium And Heavy Rare Earth Recycling

1. 1. 1. 1. By Value

10. 3. By Applications

10. 3. 1. Introduction

1. 1. 1. 1. Applications By Value

10. 3. 2. Permanent Magnets

1. 1. 1. 1. By Value

10. 3. 3. Catalyst

1. 1. 1. 1. By Value

10. 3. 4. Glass

1. 1. 1. 1. By Value

10. 3. 5. Ceramics

1. 1. 1. 1. By Value

10. 3. 6. Phosphor

1. 1. 1. 1. By Value

10. 3. 7. Alloy Manufacturing

1. 1. 1. 1. By Value

10. 3. 8. Others

1. 1. 1. 1. By Value

10. 4. China

10. 4. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Light Rare Earth Recycling
            1. By Value
         3. Medium And Heavy Rare Earth Recycling
            1. By Value

10. 4. 2. By Applications

1. 1. 1. 1. Introduction
            1. Applications By Value
         2. Permanent Magnets
            1. By Value
         3. Catalyst
            1. By Value
         4. Glass
            1. By Value
         5. Ceramics
            1. By Value
         6. Phosphor
            1. By Value
         7. Alloy Manufacturing
            1. By Value
         8. Others
            1. By Value

10. 5. Korea
    6. Japan
    7. India
    8. Australia
    9. Taiwan
    10. South East Asia
    11. Rest Of Asia-Pacific

11. MIDDLE EAST AND AFRICA MARKET ANALYSIS

11. 1. Introduction
    2. By Type

11. 2. 1. Introduction

1. 1. 1. 1. Type By Value

11. 2. 2. Light Rare Earth Recycling

1. 1. 1. 1. By Value

11. 2. 3. Medium And Heavy Rare Earth Recycling

1. 1. 1. 1. By Value

11. 3. By Applications

11. 3. 1. Introduction

1. 1. 1. 1. Applications By Value

11. 3. 2. Permanent Magnets

1. 1. 1. 1. By Value

11. 3. 3. Catalyst

1. 1. 1. 1. By Value

11. 3. 4. Glass

1. 1. 1. 1. By Value

11. 3. 5. Ceramics

1. 1. 1. 1. By Value

11. 3. 6. Phosphor

1. 1. 1. 1. By Value

11. 3. 7. Alloy Manufacturing

1. 1. 1. 1. By Value

11. 3. 8. Others

1. 1. 1. 1. By Value

11. 4. UAE

11. 4. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Light Rare Earth Recycling
            1. By Value
         3. Medium And Heavy Rare Earth Recycling
            1. By Value

11. 4. 2. By Applications

1. 1. 1. 1. Introduction
            1. Applications By Value
         2. Permanent Magnets
            1. By Value
         3. Catalyst
            1. By Value
         4. Glass
            1. By Value
         5. Ceramics
            1. By Value
         6. Phosphor
            1. By Value
         7. Alloy Manufacturing
            1. By Value
         8. Others
            1. By Value

11. 5. Turkey
    6. Saudi Arabia
    7. South Africa
    8. Egypt
    9. Nigeria
    10. Rest Of MEA

12. LATAM MARKET ANALYSIS

12. 1. Introduction
    2. By Type

12. 2. 1. Introduction

1. 1. 1. 1. Type By Value

12. 2. 2. Light Rare Earth Recycling

1. 1. 1. 1. By Value

12. 2. 3. Medium And Heavy Rare Earth Recycling

1. 1. 1. 1. By Value

12. 3. By Applications

12. 3. 1. Introduction

1. 1. 1. 1. Applications By Value

12. 3. 2. Permanent Magnets

1. 1. 1. 1. By Value

12. 3. 3. Catalyst

1. 1. 1. 1. By Value

12. 3. 4. Glass

1. 1. 1. 1. By Value

12. 3. 5. Ceramics

1. 1. 1. 1. By Value

12. 3. 6. Phosphor

1. 1. 1. 1. By Value

12. 3. 7. Alloy Manufacturing

1. 1. 1. 1. By Value

12. 3. 8. Others

1. 1. 1. 1. By Value

12. 4. Brazil

12. 4. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Light Rare Earth Recycling
            1. By Value
         3. Medium And Heavy Rare Earth Recycling
            1. By Value

12. 4. 2. By Applications

1. 1. 1. 1. Introduction
            1. Applications By Value
         2. Permanent Magnets
            1. By Value
         3. Catalyst
            1. By Value
         4. Glass
            1. By Value
         5. Ceramics
            1. By Value
         6. Phosphor
            1. By Value
         7. Alloy Manufacturing
            1. By Value
         8. Others
            1. By Value

12. 5. Mexico
    6. Argentina
    7. Chile
    8. Colombia
    9. Rest Of LATAM

13. COMPETITIVE ASSESSMENT

13. 1. Adoption Matrix
    2. Rare Earth Recycling Market Share By Manufacturers
    3. Rare Earth Recycling Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis

14. MARKET PLAYERS ASSESSMENT

14. 1. Solvay

14. 1. 1. Overview
       2. Business Information
       3. Revenue
       4. ASP
       5. Gross Margin
       6. Swot Analysis
       7. Recent Developmments

14. 2. Hitachi Metals
    3. REEcycle Inc
    4. Jiangsu Huahong Technology Co. Ltd
    5. Lynas
    6. GanZhou QianDong Rare Earths Group Co., Ltd.
    7. Mitsubishi Chemical Corporation
    8. Nissan Motor Co Ltd
    9. Geomega Resources
    10. Shenghe Resources Holdings Co. Ltd.

15. RESEARCH METHODOLOGY

15. 1. Research Data

15. 1. 1. Secondary Data

1. 1. 1. 1. Major Secondary Sources
         2. Key Data From Secondary Sources

15. 1. 2. Primary Data

1. 1. 1. 1. Key Data From Primary Sources
         2. Breakdown Of Primaries

15. 1. 3. Secondary And Primary Research

1. 1. 1. 1. Key Industry Insights

15. 2. Market Size Estimation

15. 2. 1. Bottom-Up Approach
       2. Top-Down Approach
       3. Market Projection

15. 3. Research Assumptions

15. 3. 1. Assumptions

15. 4. Limitations
    5. Risk Assessment

16. APPENDIX

16. 1. Discussion Guide
    2. Customization Options
    3. Related Reports

17. DISCLAIMER

Table of Content and Figure @  https://straitsresearch.com/report/rare-earth-recycling-market/toc

Market News

• In September 2022, Solvay announced intentions to develop its rare earth facilities in La Rochelle, France, to enter the rare earth permanent magnets value chain in Europe. Solvay is already active in separating and recycling rare earth for captive use. With this investment, the group is ambitious to create a powerful rare earth hub in Europe in the coming years.
• In January 2023, Solvay will extend and modify the current rare earth processing operation in La Rochelle, France, by adding the manufacture of separated rare earth oxides for permanent magnets. The company is investing "tens of millions of euros," and this processing unit will supply material to magnet makers for EVs and wind turbines.

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