According to a new market research report, the Rare Earth Metals Recycling Market by Application (Permanent Magnets, Alloys, Polishing Materials, Glass, Catalyst, Phosphor, Ceramics, Hydrogen Storage Alloys), Technology (Hydrometallurgical, Pyrometallurgical) and Region – Global Forecasts to 2026″, published by MarketsandMarkets, the global rare earth metals recycling market is estimated to be USD 248 million in 2021 and is projected to reach USD 422 million by 2026, at a CAGR of 11.2% from 2021 to 2026. Rare earth metals are considered key elements in developing technologies in the communications, electronics, automotive, and military weapon sectors. The demand for these elements is expected to increase in the near future as these are key components in emerging applications, such as green technology and electric and hybrid vehicles.

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  • 149 Market data Tables
  • 59 Figures
  • 171 Pages and in-depth TOC on “Rare Earth Metals Recycling Market – Global Forecast to 2026” 

This report also provides a comprehensive analysis of the companies listed below:

Solvay SA (Belgium), Hitachi Metals, Ltd. (Japan), Umicore (Belgium), Osram Licht AG (Germany), Energy Fuels, Inc. (US), Global Tungsten & Powders Corp. (US), and REEcycle Inc. (US) among others.

The rare earth metals recycling market report analyzes the key growth strategies adopted by the leading market players, between 2016 and 2021, which include expansions, mergers & acquisition, new product developments/launch, and collaborations. The study includes an in-depth competitive analysis of these key players in the rare earth metals recycling market, with their company profiles, and key market strategies.

 COVID-19 impact on global rare earth metals recycling market

The COVID-19 pandemic has exhibited notable effect on various industries including automotive with the car manufacturers announcing a suspendion in production, which has now resumed on a global level. The market actors including, but not limited to Tier 1 and Tier 2 suppliers and other upstream entities were affected by this demand-side shock and as a result ramped down their production. Furthermore, the supply chain steps located in countries strongly impacted by the onset of the pandemic were hampered leading to a severe supply chain disruption. This resulted in a demand for the security of the supply of strategic raw materials needed for the long-term competitiveness across the globe. The European Green Deal targets 2050 climate neutrality and recognizes access to resources as a strategic security question to fulfill its ambition. The upgraded Industrial Strategy for Europe provides for the raw materials as key enablers for a globally competitive, green, and digital Europe. It also aims to accomplish a European competitiveness based on a new Alliance on Raw Materials and advertises for the importance of industrial ecosystems for accelerating innovation and growth in Europe. A more protective, sovereign, and inclusive economic model that is in line with the Green Deal has been put forward to be adoped by the recently launched Green Recovery Alliance. EIT RawMaterials, funded by the European Institute of Innovation and Technology (EIT), which also aims to have a vision to develop raw materials into a major strength for Europe. It is said to be the world’s largest network in the raw materials sector, which is expected to connect industry, research, and education. This makes EIT Raw Materials a key contributor to secure sustainable access and supply of raw materials for a green, digital, and competitive Europe.

Solvay SA is a manufacturer and distributor of chemical and plastic products. It operates through the following segments: advanced formulations, advanced materials, performance chemicals, and corporate and business services. The advanced formulations segment offers specialty formulations that impact surface chemistry and alter liquid behavior. The advanced materials segment provides materials for multiple applications in the automotive, aerospace, electronics, and health sectors. The performance chemicals segment operates in mature and resilient markets and has positions in chemical intermediates. The company has more than 20 research & innovation centers and presence in more than 64 countries. Solvay has two sites in France for recycling rare earth elements.

Hitachi Metals, Ltd. is engaged in the manufacturing and sale of products for the automobile, electronics, and infrastructure sectors. It operates through the specialty steel, magnetic materials, functional components, and cable materials business divisions. The specialty steel division offers high-grade special steel, rolls, steel and ceramic structural parts, injection molding machine parts, and soft magnetic materials. The magnetic materials division offers magnets and ceramic products. The functional components division provides high-grade casting components for automobiles, piping and infrastructure components, and construction components. The cable materials division offers electric wires and functional items such as industrial wire, equipment wire, industrial rubber, cable processed products, automotive electrical components, and brake hose. The company has plants and research & development facilities in Osaka, Saga, Shimane, Mie, Saitama, Tochigi and Ibaraki and overseas offices in New York, Dusseldorf, London, Paris, Shanghai, Hong Kong, Taipei, and Singapore, among other cities.