The United States Critical Rare Earth Market size is reached a valuation of USD xx.x Billion in 2023, with projections to achieve USD xx.x Billion by 2031, demonstrating a compound annual growth rate (CAGR) of xx.x% from 2024 to 2031.
United States Critical Rare Earth Market By Application
- Permanent Magnets
- Catalysts
- Ceramics
- Phosphors
- Metallurgy
The United States critical rare earth market by application is segmented into several key areas. Permanent magnets represent a significant portion of the market, essential for applications in motors, electronics, and renewable energy technologies. Catalysts also play a crucial role, particularly in environmental and chemical processing industries. Ceramics form another major application area, used extensively in electronic components and high-temperature applications. Phosphors are critical for lighting technologies such as LEDs, while metallurgical applications include uses in steel alloys and refining processes. Each segment contributes uniquely to the demand landscape of critical rare earth elements in the United States.