Rare Earth Hydrogen Storage Material Trends and Forecast
The future of the global rare earth hydrogen storage material market looks promising with opportunities in the nickel-metal hydride battery, automotive, electricity & metallurgy, and chemical markets. The global rare earth hydrogen storage material market is expected to grow with a CAGR of 13.2% from 2024 to 2030. The major drivers for this market are transition towards clean energy sources and increasing need to mitigate climate change, ongoing advancements in material science, nanotechnology, and chemical engineering, and rising energy storage and grid balancing.
• Lucintel forecasts that metal hydride is expected to witness the highest growth over the forecast period.
• Within this market, nickel-metal hydride battery is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States: Albemarle Corporation and Molycorp Minerals have initiated projects to develop rare earth-based hydrogen storage materials for fuel cell applications. Government targets for increased adoption of fuel cell vehicles and investment in clean energy research drive company initiatives.
China: China Minmetals Corporation and Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. are investing in research and production of rare earth hydrogen storage materials to support the countryÄX%$%Xs transition to clean energy. Government targets for reducing reliance on fossil fuels and promoting green technology drive company initiatives.
Japan: Mitsubishi Chemical Corporation and Hitachi Metals, Ltd. are collaborating with research institutions to develop innovative rare earth hydrogen storage materials for hydrogen fuel cell vehicles and stationary energy storage systems. Government targets for achieving carbon neutrality by 2050 drive investments in clean energy technologies.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Rare Earth Hydrogen Storage Material by Segment
The study includes a forecast for the global rare earth hydrogen storage material by type, application, and region.
Rare Earth Hydrogen Storage Material Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Metal Hydrides
• Rare Earth-Magnesium Alloys
• Rare Earth Hydrogen Storage Alloys
Rare Earth Hydrogen Storage Material Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Nickel-Metal Hydride Batteries
• Automotive
• Electricity & Metallurgy
• Chemical
• Others
Rare Earth Hydrogen Storage Material Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Rare Earth Hydrogen Storage Material Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies rare earth hydrogen storage material companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the rare earth hydrogen storage material companies profiled in this report include-
• JXTC
• CXTC
• Aluminum Corporation of China
• China Rare Earth Resources and Technology
• Baoji Titanium Industry
• Weifu High-Technology Group
• Grinm Advanced Materials
• Shenghe Resources Holding
• Rezel Catalysts
• Jinduicheng Molybdenum
Recent Development in the Rare Earth Hydrogen Storage Material Market
Albemarle announces a breakthrough in the synthesis of rare earth hydrogen storage materials, significantly improving their hydrogen storage capacity and stability.
China Minmetals forms a strategic partnership with a leading research institution to accelerate the development of rare earth-based hydrogen storage materials for use in fuel cell vehicles.
Mitsubishi Chemical achieves a milestone in the commercialization of rare earth hydrogen storage materials, launching a pilot production facility to scale up manufacturing.
Features of the Global Rare Earth Hydrogen Storage Material Market
Market Size Estimates: Rare earth hydrogen storage material market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Rare earth hydrogen storage material market size by type, application, and region in terms of value ($B).
Regional Analysis: Rare earth hydrogen storage material market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the rare earth hydrogen storage material market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the rare earth hydrogen storage material market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for rare earth hydrogen storage material market?
Answer: The global rare earth hydrogen storage material market is expected to grow with a CAGR of 13.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the rare earth hydrogen storage material market?
Answer: The major drivers for this market are transition towards clean energy sources and increasing need to mitigate climate change, ongoing advancements in material science, nanotechnology, and chemical engineering, and rising energy storage and grid balancing.
Q3. What are the major segments for rare earth hydrogen storage material market?
Answer: The future of the global rare earth hydrogen storage material market looks promising with opportunities in the nickel-metal hydride battery, automotive, electricity & metallurgy, and chemical markets.
Q4. Who are the key rare earth hydrogen storage material market companies?
Answer: Some of the key rare earth hydrogen storage material companies are as follows:
• JXTC
• CXTC
• Aluminum Corporation of China
• China Rare Earth Resources and Technology
• Baoji Titanium Industry
• Weifu High-Technology Group
• Grinm Advanced Materials
• Shenghe Resources Holding
• Rezel Catalysts
• Jinduicheng Molybdenum
Q5. Which rare earth hydrogen storage material market segment will be the largest in future?
Answer: Lucintel forecasts that metal hydride is expected to witness the highest growth over the forecast period.
Q6. In rare earth hydrogen storage material market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the rare earth hydrogen storage material market by type (metal hydrides, rare earth-magnesium alloys, and rare earth hydrogen storage alloys), application (nickel-metal hydride batteries, automotive, electricity & metallurgy, chemical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Rare Earth Hydrogen Storage Material Market, Rare Earth Hydrogen Storage Material Market Size, Rare Earth Hydrogen Storage Material Market Growth, Rare Earth Hydrogen Storage Material Market Analysis, Rare Earth Hydrogen Storage Material Market Report, Rare Earth Hydrogen Storage Material Market Share, Rare Earth Hydrogen Storage Material Market Trends, Rare Earth Hydrogen Storage Material Market Forecast, Rare Earth Hydrogen Storage Material Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.