Rare Earth Elements Market-Referred as Seeds of technology- Exhibit multiple manufacturing Industries segments: Market to expand at a healthy rate up to 2023
Rare earth elements are a group of seventeen chemical elements that occur together in the periodic table. The group consists of yttrium, scandium, and fifteen lanthanide elements (lanthanum, cerium, thulium, ytterbium, praseodymium, gadolinium, terbium, dysprosium, neodymium, promethium, samarium, europium, holmium, erbium, and lutetium). The seventeen rare earth elements are found in all rare earth elements deposits; however, their distribution and concentration varies. These elements are referred as ‘rare,’ as it is not common to find them in commercially feasible concentrations. Rare earth elements are broadly classified into two categories: light rare earth elements and heavy rare earth elements. These have varying levels of uses and demand. Mineral deposits of rare earth elements are usually rich in either light rare earth elements or heavy rare earth elements; they rarely contain both in significant quantities. Among rare earth elements, demand for lanthanum and cerium is...