Market Scope:

Viet Nam Rare Earth Recycling Market, like scandium, yttrium, and the lanthanide series, are essential components used in permanent magnets, smartphones, wind turbines, and electric vehicles, among others. The elements that are found naturally as ore mixtures are required to be purified before being used. But the mining, as well as separation of mineral ores, can be a daunting task, other than being energy- and waste-intensive. These elements leave a considerable environmental burden. Despite their reusability, a huge portion is discarded into trash after just one use.

Recycling rare-earth-containing items provide a steady source of rare earth materials to developers while bringing down waste content. Addition of recycled materials helps bring down environmental contamination as well as energy costs related to primary mining as well as separations.

MRFR recognizes the following companies as the key players in the global- Rare Earth Recycling Companies

• Solvay (Belgium)
• Hitachi Metals (Japan)
• REEcycle, Inc. (US)
• Jiangsu Huahong Technology Co. Ltd (China)
• Lynas (Malaysia)
• GanZhou QianDong Rare Earths Group Co., Ltd (China)
• Mitsubishi Chemical Corporation (Japan)
• Nissan Motor Co Ltd (Japan)
• Geomega Resources (Viet Nam)
• Shenghe Resources Holdings Co., Ltd (China) 

Market USP Covered

Market Drivers

The green energy market has been experiencing substantial growth with the passing of the new legislation by various regulatory bodies worldwide. These legislations ban the usage of traditional mediums in sectors, requiring the use of green technologies, like hybrid electric vehicles, compact fluorescent lighting, and wind turbines. Wind turbines now use direct-drive permanent magnets, with extensive use of rare-earth metals, like praseodymium, neodymium, europium, terbium, and dysprosium. The heightened focus on environmental protections is resulting in the development of clean energy sources, such as wind energy.

The wind turbine market offer provides business opportunities to the permanent magnet industry. Direct-drive generators used in wind turbines make use of around 650 kg of permanent magnets per megawatt of power output. This makes use of permanent magnets comparatively more economical while enabling market contenders to be more environmentally responsible, thereby rendering the technology sustainable. All these expanding industries with extensive use of permanent magnets offer a massive impetus for the market growth.

Production of numerous minerals that are essential for energy transitions is largely concentrated in certain geographical areas. For example, China is the leader in the rare earth value chain, responsible for over 70% of processing operations with respect to rare earth metal mining. This has raised concerns among companies that develop batteries, wind turbines, and solar panels, amongst others, as this can leave an impact on their supply chains owing to regulatory changes, political instability and trade barriers.

Market Restraints

Surge in pollution, inefficiency of recycling and high costs can be major challenges faced by the top players in the years to come.

Segment Overview

The various US Rare Earth Recycling types are light rare earth recycling as well as heavy & medium rare earth recycling. The light rare earth recycling segment forms the biggest share in the worldwide market owing to the extensive usage in catalytic converters, super magnets, carbon arc lights, UV protective glasses, batteries for hybrid vehicles, CAT scan scintillators, electronic devices, computers, and polishing of glass surfaces.

With respect to applications, the rare earth recycling market caters to catalyst, permanent magnets, ceramics, glass, alloy manufacturing, phosphor, and more. Permanent magnets are the biggest segment in the market with the highest share, as evaluated in 2020.

Regional Analysis

With over 30% share in the worldwide market, the APAC market took the lead in 2020. The majority of the renowned firms in the region adopt numerous business strategies including research and development, new product launches, joint ventures, contracts & agreements, acquisitions, and portfolio expansions for a higher stronghold in the market.

The market expansion rate in Viet Nam is quite significant, on account of the soaring penetration of the top contenders in developed countries like France, Germany, and the UK. Constant product innovation via high-level and vigorous research & development activities in these countries has given rise to upgradation in the rare earth recycling field.

The US is one of the top markets for permanent magnets in Viet Nam , considering the mounting usage of permanent magnets in a variety of electronic products including cellular phones, speakers, television, and more.

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 628 258 0071