Rare earth elements
AI-powered self-service platform for all your sourcing decision needs across 1,600+ categories llike Rare earth elements.
Market Data, Sourcing & Supplier Intelligence, and Price & Cost Benchmarking.
Emergence of global significant rare earth projecJuly 04, 2022
Become a Beroe LiVE.Ai™ Subscriber to receive proactive alerts on Rare earth elements
Rare earth elements Market Monitoring Dashboard
Understand the correlation between costs, margins, and prices impacting your category on a real time basis on Beroe LiVE.Ai™
Rare earth elements Industry Benchmarks
The average annual savings achieved in Rare earth elements category is 6.70%
The industry average payment terms in Rare earth elements category for the current quarter is 72.7 days
Compare your category performance against peers and industry benchmarks across 20+ parameters on Beroe LiVE.Ai™
Category Strategy and Flexibility
Price per Unit Competitiveness
Minimum Order Quality
The World’s first Digital Market Analyst
The World’s first Digital Market Analyst
Abi, the AI-powered digital assistant brings together data, insights, and intelligence for faster answers to sourcing questions
Rare earth elements Suppliers
Find the right-fit rare earth elements supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.
Use the Rare earth elements market, supplier and price information for category strategy creation and Quaterly Business Reviews (QRBs)
Rare earth elements market frequently asked questions
The bargaining potential of buyers is medium to high, based on the end-use sector, as the demand scale differs across the verticals. Case in point, the present magnet industry downswing and the fragile commodity market offer the upper hand to the buyers in terms of price negotiation. On the other hand, since the global rare earth elements market is highly competitive, the bargaining potential of suppliers is medium to high.
Rare earth metal producers continue to view China as their target geography as the developing region captures over 3/5 of the global mine production. Moreover, six state-funded local miners hold a significant chunk of the rare earth mining market.
Due to the COVID-19 pandemic and its ripple effects, the worldwide mine output took a hard hit in 2020. In addition, market players began engaging in short-term contracts due to the high degree of fluctuation amidst the public-health crisis.
The global rare earth elements market is consolidated, with leading players taking the bigger slice of the overall revenue. Further, the price competition in the market echoes the cut-throat rivalry between participants to boost their bottom lines and gain an edge over others.
For new entrants, the yardstick to enter the global competitive landscape of the rare earth elements market is high as the extraction process, and subsequent treatment is a complicated process and involves high expenses. In addition, the competitive landscape is subject to increased compliance costs and high exit barriers.
Rare earth elements market report transcript
Rare Earth Metals Global Market Outlook:
China continues to hold the dominance in rare earths metal market and accounts for nearly 63 percent of the global mine production in 2019. In 2020, the global mine output is expected to decline due to Covid-19 outbreak.
Short term contracts due to high degree of volatility caused due to Covid-19 outbreak.
Porter's Analysis on Rare Earth Metals
- The global rare earth elements market is highly consolidated and hence, the bargaining power of suppliers is medium to high. Six state-owned miners of China are holding a major share of the rare earths mining industry, thereby allowing China to keep a strong handle on production
Barriers to New Entrants
- The barriers to new entrants is considered high for rare earths market. The process of extracting and subsequent treatment is a complex process and involves high costs
- The extraction process involves huge environmental cost. Some of the processes use acids for separation and the combustion with high temperatures emit carbon dioxides
Intensity of Rivalry
- Intensity of rivalry is medium, due to consolidation in the industry amongst the major players. There is high investment cost for entry, regulations, and high exit barriers
- The struggle for market share and increased profitability is reflected in price competition
Threat of Substitutes
- Rare earth elements have very low substitute threat. Though substitutes are available, they are always considered less effective in many applications
- Buyer power is medium to high, depending on the end-use industry, as the level of demand varies across the industries
- For instance, the current magnet industry downturn and the weak commodity market provide added advantage to the buyers, in terms of price negotiation