Rare Earth Metals Leaching Chemicals Market by Chemical Type, Metal Type, Application

Description

List of Tables

[189 Pages Report] The Rare Earth Metals Leaching Chemicals Market size was estimated at USD 496.90 million in 2023 and expected to reach USD 523.49 million in 2024, at a CAGR 5.38% to reach USD 717.27 million by 2030.

The rare earth metals refer to a set of seventeen metallic elements and are categorized into light elements (lanthanum to samarium) and heavy elements (europium to lutetium). Various acids used as leaching agents in the recovery of rare earth from phosphate rock by hydrometallurgical processes, such as sulphuric acid (H2SO4), Nitric acid (HNO3), phosphoric acid (H3PO4), and hydrochloric acid( HCL) are referred to as rare earth metals leaching chemicals. The rising demand for rare earth metals in microelectronics, semiconductor, and technology devices has necessitated the deployment of leaching chemicals to acquire the essential rare earth metals. Furthermore, government initiatives to accelerate the mining of rare earth metals have cemented the growth and adoption of leaching chemicals and leaching technology. However, environmental and sustainability concerns and public health issues pose regulatory and legal hurdles to the growth of rare earth metal-leaching chemicals. Additionally, the unreliability of leaching chemicals and the inability of chemicals to achieve adequate separation of rare earth metals impede the widespread adoption of rare earth metals leaching chemicals. However, major players are constantly investing to improve the sustainability of leaching technologies and have invested in the development of sustainable sulphuric acid and sustainable hydrochloric acid technology plants. Additionally, private partnerships to accelerate the extraction of rare earth metals and advancements in leaching technologies through the adoption of AI/ML technologies can significantly improve the reliability and accuracy of leaching metals.

KEY MARKET STATISTICS
Base Year [2023]	USD 496.90 million
Estimated Year [2024]	USD 523.49 million
Forecast Year [2030]	USD 717.27 million
CAGR (%)	5.38%

Regional Insights

The Americas region is characterized by the presence of advanced chemical plants and leaching equipment, driving the growth of leaching chemicals in this region. Furthermore, the rising adoption of electronic gadgets, rampant digitization efforts, and the presence of major technological businesses created a need for rare earth metals and associated leaching chemicals. Major European Union nations favor sustainable mining practices and leaching methodologies, which has driven the adoption of environmentally conscious leaching chemicals. European countries, including Germany, the U.K., and France, are involved in R&D initiatives to improve the functionality of leaching chemicals. Government and private initiatives to explore and discover rare earth metal deposits in Europe have been successfully carried out. In the APAC region, countries such as India and China, rare earth metal mining has been supported by government initiatives to reduce dependence on international trade, cementing the national demand for leaching chemicals. Additionally, China, India, and Vietnam are some of the largest producers of rare earth metals, owing to their diverse mining sectors and geological treasures. The presence of a burgeoning semiconductor industry and an evolving startup ecosystem also contribute to accelerating the demand for rare earth metal-leaching chemicals.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Rare Earth Metals Leaching Chemicals Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising utilization of rare earth metals in technology devices and electronic components
- Government initiatives to expand mining operations of rare earth elements and metals

Market Restraints
- Environmental concerns about the use of toxic leaching chemicals

Market Opportunities
- Development of sustainable leaching chemical technology plants
- Private partnerships to accelerate the extraction of rare earth metals and advancements in leaching technologies

Market Challenges
- Chances of incomplete separation of metals and technical limitations of using leaching chemicals

Market Segmentation Analysis
- Chemical Type: Rising use of hydrochloric acid to achieve superior rare earth metal extraction
- Metal Type: Growing demand for heavy rare earth metals due to the limited occurrence

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Rare Earth Metals Leaching Chemicals Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Rare Earth Metals Leaching Chemicals Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Sumitomo Expands Sulfuric Acid Business in U.S. with Acquisition of Saconix

Sumitomo Corporation of Americas (SCOA), along with its parent Sumitomo Corporation Japan (SC), announced the acquisition of Saconix LLC, a company engaged in the procurement, sale, storage, and distribution of sulfuric acid in the U.S. and the Gulf region, expanding its presence in the sulfuric acid business in North America. [Published On: 2023-06-08]

Geomega to Centralize its Activities in St Hubert, Quebec; New R&D Funding for HCl recycling for REE and Sc extraction & Demo Plant Update

Geomega's private R&D subsidiary Innord Inc. has been awarded a USD 493K grant from the Program to Support Research and Development to facilitate the extraction, transformation, and recycling of critical and strategic metals. The grant is expected to be used towards the development of a process for recycling hydrochloric acid (HCl) from several metal chlorides, which can be used for rare earth elements (REE) and scandium (Sc) recovery from multiple sources. [Published On: 2023-04-27]

Installing sustainable sulphuric acid technology for Arafura

Chemetics has been awarded a contract to deploy its sulphuric acid technology at Arafura Rare Earths Ltd's Nolans Project in Australia. This deployment is expected to allow the extraction and processing of rare earth metals neodymium and praseodymium. [Published On: 2023-04-12]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Rare Earth Metals Leaching Chemicals Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Rare Earth Metals Leaching Chemicals Market, highlighting leading vendors and their innovative profiles. These include Advanced Engineering Materials Limited, American Elements, ANHUI FITECH MATERIALS CO., LTD., Aurubis AG, Avalon Advanced Materials Inc., BASF SE, CHENGDU BEYOND CHEMICAL CO., LTD., Gujarat Alkalies and Chemical Limited, Haihang Industry Co., Ltd., Iwatani Corporation, Lanxess AG, Luossavaara-Kiirunavaara Aktiebolag, Lynas Rare Earths Ltd, MP Materials Corporation, Nanografi Nano Technology, NIPPON YTTRIUM CO.,LTD, Olin Corporation, Otto Chemie Pvt Ltd., Oxy Chemical Corporation, Pacific Industrial Development Corporation, Shanghai Gona Industrial Co., Ltd., Shin-Etsu Chemical Co., Ltd., Solvay S.A., Stanford Materials Corporation, UBE Corporation, and Xinglu Chemical.

Market Segmentation & Coverage

This research report categorizes the Rare Earth Metals Leaching Chemicals Market to forecast the revenues and analyze trends in each of the following sub-markets:

Chemical Type
- Acetic Acid
- Ammonium Sulfate
- Citric Acid
- Hydrochloric Acid
- Sodium Hydroxide
- Sulfuric Acid

Metal Type
- Heavy Rare Earth Metal
- Light Rare Earth Metal

Application
- Rare Earth Metal Extraction
- Rare Earth Metal Recycling

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-2E76C3E47F8C

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising utilization of rare earth metals in technology devices and electronic components
  - 5.1.1.2. Government initiatives to expand mining operations of rare earth elements and metals
- 5.1.2. Restraints
  - 5.1.2.1. Environmental concerns about the use of toxic leaching chemicals
- 5.1.3. Opportunities
  - 5.1.3.1. Development of sustainable leaching chemical technology plants
  - 5.1.3.2. Private partnerships to accelerate the extraction of rare earth metals and advancements in leaching technologies
- 5.1.4. Challenges
  - 5.1.4.1. Chances of incomplete separation of metals and technical limitations of using leaching chemicals
5.2. Market Segmentation Analysis
- 5.2.1. Chemical Type: Rising use of hydrochloric acid to achieve superior rare earth metal extraction
- 5.2.2. Metal Type: Growing demand for heavy rare earth metals due to the limited occurrence

5.2.3. Application:

5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Rare Earth Metals Leaching Chemicals Market, by Chemical Type

6.1. Introduction
6.2. Acetic Acid
6.3. Ammonium Sulfate
6.4. Citric Acid
6.5. Hydrochloric Acid
6.6. Sodium Hydroxide
6.7. Sulfuric Acid

7. Rare Earth Metals Leaching Chemicals Market, by Metal Type

7.1. Introduction
7.2. Heavy Rare Earth Metal
7.3. Light Rare Earth Metal

8. Rare Earth Metals Leaching Chemicals Market, by Application

8.1. Introduction
8.2. Rare Earth Metal Extraction
8.3. Rare Earth Metal Recycling

9. Americas Rare Earth Metals Leaching Chemicals Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Rare Earth Metals Leaching Chemicals Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Rare Earth Metals Leaching Chemicals Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Sumitomo Expands Sulfuric Acid Business in U.S. with Acquisition of Saconix
- 12.3.2. Geomega to Centralize its Activities in St Hubert, Quebec; New R&D Funding for HCl recycling for REE and Sc extraction & Demo Plant Update
- 12.3.3. Installing sustainable sulphuric acid technology for Arafura
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio