Rare Earth Elements Market is growing at a CAGR of 10.4% for the duration of the forecast
Market Slingshot: The scope of the global Rare Earth Elements Market was appreciated at US$ 2.80 billion in 2018. The range is projected to touch US$ 5.62 billion by 2025, growing at a CAGR of 10.4% for the duration of the forecast. The rare earth elements most commonly used include lanthanum, neodymium, cerium, dysprosium, yttrium, and praseodymium. These products find their presence in production of catalysts and magnets for automotive industry. Praseodymium and neodymium are used for producing electric vehicles’ batteries whereas cerium acts as a catalyst in motor vehicles’ catalytic converters. According to the IEA (International Energy Agency), the stock of electric cars across the globe had crossed 5 million in 2018 (around 63% rise as compared to 2017). It’s a known fact that the demand for electric vehicles is on the rise due to reduction in emission of CO2. T Request a Free Sample Copy of Rare Earth Elements Market Report @ https://www.millioninsights.com/in...