Covid-19 Impact on Rare Earth Metals Market to Witness Steady Growth through 2028

Matt Easterlin10 Mar, 2023Business

The rare earth metals market was estimated at USD 5.2 billion in 2021 and is likely to grow at a CAGR of 12.4% during 2022-2028 to reach USD 11.78 billion in 2028. What is Rare Earth Metal? Rare earth metals are a group of elements found in the earth's crust with similar physical and chemical properties. These extracted elements can be processed in their ore forms and fall into both hard and light categories. Praseodymium and Samarium are light metals that are more easily found as compared to heavy metals like terbium, holmium, gadolinium, europium, thulium, dysprosium, and ytterbium, etc.