North America Neodymium Market Size & Outlook, 2021-2030
North America neodymium market, 2018-2030 (US$M)
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North America neodymium market highlights
- The North America neodymium market generated a revenue of USD 38.1 million in 2021.
- The market is expected to grow at a CAGR of 13% from 2022 to 2030.
- In terms of segment, catalysts was the largest revenue generating application in 2021.
- Magnets is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2022 to 2030.
North America data book summary
| Market revenue in 2021 | USD 38.1 million |
| Market revenue in 2030 | USD 114.5 million |
| Growth rate | 13% (CAGR from 2021 to 2030) |
| Largest segment | Catalysts |
| Fastest growing segment | Magnets |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Magnets, Catalysts, Ceramics & glass |
| Key market players worldwide | China Rare Earth Holdings Ltd, Lynas Rare Earths Ltd, MP Materials Corp Ordinary Shares - Class A, Peak Rare Earths Ltd, Rainbow Rare Earths Ltd, Texas Mineral Resources Corp, Arafura Rare Earths Ltd, Rare Earth Global, Energy Transition Minerals |
Other key industry trends
- In terms of revenue, North America region accounted for 1.8% of the global neodymium market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 6,734.5 million by 2030.
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Neodymium Market Scope
Neodymium Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America neodymium market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to neodymium market will help companies and investors design strategic landscapes.
Catalysts was the largest segment with a revenue share of 61.15% in 2021. Horizon Databook has segmented the North America neodymium market based on magnets, catalysts, ceramics & glass covering the revenue growth of each sub-segment from 2018 to 2030.
In terms of volume, North America is a significantly smaller market as compared to Asia Pacific. Lesser availability of rare earth oxides in the region makes the region import-reliant on China. The catalyst producers are the prominent consumers of the neodymium in North America, which cater to the tire and oil & gas industries.
The commercial uses of neodymium catalysts are limited owing to their expensive nature. They are used in refinery petroleum cracking, polymerization, and photovoltaic wastewater treatment.
The growth of the oil & gas industry in the region is anticipated to propel demand for neodymium-based catalysts over the forecast period. For instance, in June 2022, the U.S. President asked the oil refiners in the country to produce more diesel and gasoline.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America neodymium market , including forecasts for subscribers. This continent databook contains high-level insights into North America neodymium market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America neodymium market size, by country, 2018-2030 (US$M)
North America Neodymium Market Outlook Share, 2021 & 2030 (US$M)
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