• Stacy Lawlor

Global Rare Earth Metals Recycling Market Size to grow by US$ 421 Mn in 2030

The Rare Earth Metals Recycling Market is projected to grow USD 422 Mn in 2030, at a CAGR of 11.6%.


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Recycling rare earth metals is thought to provide a solution to the supply and demand dilemma for rare earth metals. However, due to hazardous compounds that must be handled appropriately, extreme vigilance is required during the rare earth metals recycling process. Hazardous material emissions in rare earth metals recycling are divided into three categories by the United Nations Environment Programme (UNEP). The first is primary, in which emissions from electronic trash include lead, mercury, arsenic, polychlorinated biphenyls, sulphides, and ozone-depleting chemicals. Secondary emissions include dioxins and furans, among others, which are produced as a result of reactions caused by improper plastics treatment.


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The COVID-19 pandemic has had a significant impact on several industries, including automotive, with vehicle manufacturers imposing a production halt, which has now been lifted globally. The supply chain steps in nations that were heavily touched by the pandemic's start were impeded, resulting in a major supply chain disruption. As a result, there was a demand for the security of supply of strategic raw resources required for long-term global competitiveness. The coronavirus outbreak in China has created a potentially disastrous situation for the sector. Truck drivers declined to deliver to places that have been identified as or suspected of being infected with the disease.


The magnet segment has dominated the market share in 2020 of global rare earth metals recycling market owing to the increasing applications such as vehicles, healthcare equipment, electronic gadgets amongst others. The pyrometallurgical segment has dominated the market share in 2020 of global rare earth metals recycling market owing to the economically efficient and take full advantage of recovering a significant amount of precious metals. The industrial process segment is dominated the market share in 2020 of global rare earth metals recycling market owing to the rising demand from different industries such as healthcare, manufacturing, mining, automotive, etc. Asia Pacific region is dominating the market share of global rare earth metals recycling market owing to the increasing population, attractive investment policies, growing economies, and government measures aimed at encouraging the region's electronics and automobile sectors are all contributing to the region's economic growth.


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Key Developments:


February 2021- Lynas Rare Earths Ltd had signed an agreement with the US Government to develop a Light Rare Earth separation facility in the US to enhance their market position in the country.


Read More Details On This Report: https://extrapolate.com/Chemicals-and-Advanced-Materials/rare-earth-metals-recycling-market/25960

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