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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. Request Sample Copy of This Market Research @ https://www.millioninsights.com/industry-reports/rare-earth-elements-market/request-sample 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. This factor is exp...

OCT 01, 2019:   The global rare earth elements market is anticipated to reach USD 5.62 billion by 2025, according to a new report by Radiant Insights, Inc.  The growing use of permanent magnets in the production of batteries for electric vehicles is expected to propel the demand for rare earth elements including neodymium, praseodymium, dysprosium, gadolinium, and terbium over the forecast period. Neodymium and praseodymium based rare earth permanent magnets are majorly used in the manufacturing of batteries. To Request A Sample Copy Of This Report @:     https://www.radiantinsights.com/research/rare-earth-elements-market/request-sample The growing demand for electric vehicles coupled with the government initiatives on reducing the CO2 emissions is expected to boost the demand for permanent magnets. In March 2019 , the Chinese government reduced subsidies for electric vehicles in order to promote innovation amongst local manufacturers on account of declining co...