Market Overview

The global market for rare earth metals leaching chemicals is thoroughly examined in this study, which also includes estimates for 2024 and 2031 as well as historical market numbers from 2019 to 2022. With a compound annual growth rate (CAGR) of 12.4% over the course of the forecast period, the market is expected to reach a valuation of USD 13,520 million by 2031 from an estimated USD 5,960 million in 2023. This expansion emphasises the significance of technical advancements in the industry and the rising need for sophisticated data management systems.

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Market Dynamics

The growing demand for rare earth metals used in high-tech applications such electronics, renewable energy systems, electric vehicles, and defence technologies is propelling the global market for rare earth metal leaching chemicals. The process of extracting rare earth metals from ores, which entails dissolving the metal complexes with particular chemicals to allow for their separation and purification, depends heavily on leaching chemicals. The growing need for rare earth elements, especially from sectors centred on clean energy and technological development, has an impact on the market. The demand for rare earth metals like neodymium, dysprosium, and lithium is increasing due to the global move towards electric cars, wind turbines, and smartphones. This increases the need for effective and eco-friendly leaching techniques.

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Segments-

By Type:
Acid Leaching Chemicals
Base Leaching Chemicals
Others

Acid leaching chemicals and base leaching chemicals make up the By Type segment of the global rare earth metals leaching chemicals market. The most often used chemicals for extracting rare earth metals are acid leaching agents, particularly sulphuric, hydrochloric, and nitric acids, which dissolve rare earth minerals from ores. The rare earth elements are liberated into a solution by these acids, which also dissolve the mineral structure, allowing for additional processing and purification. Some rare earth extraction procedures use base leaching chemicals, like sodium hydroxide, especially for ores that are more resistant to acid leaching.

Key Players

Lynas Corporation Ltd.,China Northern Rare Earth Group High-Tech Co., Ltd.,MP Materials Corp.,Rhodia (Solvay Group),Toyota Tsusho Corporation,Albemarle Corporation,The Chemours Company,BASF SE,Arafura,Resources Ltd.,Iluka Resources,Molycorp Inc.,Neo Performance Materials Inc.,Hunan Nonferrous Rare Earth Group Co.,Kangqiang Group,Jiangxi Copper Corporation

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