Advanced Interior Materials

Global Rare Earth Elements Market To Grow At 12.4% CAGR Till 2024

The global rare earth elements market is anticipated to grow at a CAGR over 12.4 % from 2016 to 2024 (forecast period). It should reach around USD 16 billion by 2024.Rare earth metals have numerous applications in advanced products; such as nuclear batteries, television sets, tablets, military warfare, superconductors, etc.

Booming mobile devices have raised the demand for rechargeable batteries, thus pushing market sales. In addition, the demand for metal catalysts; like cerium (Ce) and lanthanum (La) is projected to propel the industry. The said catalysts find applications across industries comprising metallurgy, automobiles, and glass.

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Some factors; such as strict regulations, diminishing reserves, and complex extraction will pose challenges for industry players. Expansion in the automobile sector is predicted to further the demand for magnets, thus driving the market.

However, the recycling of rare earth elements from waste may provide excellent opportunities to them. Despite the multiple applications of these elements, the market faces challenges in the form of decreasing resources & feedstock. Also, eco-hazards associated with mining have coerced several nations, like China to prohibit excessive mining to prevent resource-exploitations.

The market is categorized into products, applications, and regions. Product segments include cerium, neodymium, praseodymium, lanthanum, yttrium, gadolinium, dysprosium, etc. Cerium led and accounted for significant shares in the past.

Lanthanum was the second largest segment. Neodymium is one of the  essential rare earth elements and utilized in permanent magnets. The demand for permanent magnets has been rising fast, specifically in electronics and automobile industries.

Applications encompass catalysts, magnets, polishing, glass, metallurgy, etc. Metallurgy and magnets were the biggest segments and jointly accounted for substantial shares. Metallurgy would experience the fastest growth till 2024 due to the adoption of lanthanum, neodymium, yttrium, and cerium; which are mainly added to enhance metals’ physical features.

Geographically, the worldwide rare earth elements market is fragmented on the basis of Asia-Pacific, North America, Europe, and RoW. Asia-Pacific was the biggest market in 2013. It is estimated to register the highest growth with respect to consumption. Regional demand could be fueled by growing applications in China, India, South Korea, etc.; among which China has the biggest resources. Chinese monopoly in the market is expected to record a decline.

Extractions and rapid urbanization across China also drive regional growth. The RoW consists of Latin America and the Middle East & Africa. It is anticipated to observe considerable expansion owing to its automotives & metallurgy industries. North America was the 2nd biggest customer base of the global market in 2013. It consumed more than 14 kilo tons the same year. However, this region can lose shares to the Middle East, Latin America, and Asia Pacific in the coming eight years.

Some of the major companies with the worldwide rare earth elements market are Lynas Corporation Ltd.; Indian Rare Earths Ltd.; China Rare Earth Holdings Ltd.; and Great Western Mineral Group Ltd. China Rare Earth Holdings Ltd. and Inner Mongolia Baotou Steel Rare Earth Hi-Tech Co were the biggest suppliers of rare earth elements and together occupied about 33% shares in 2013.

Rare Earth Elements Market

Information Source: Grand View Research

Advanced Interior Materials

Luxury furniture Market – Analysis, Trends And Forecasts, 2015 To 2022

Worldwide luxury furniture market was estimated at USD 21,389 in 2014 and is anticipated to cross over USD 28,600 million by 2022.The market is rapidly growing at a CAGR of 3.2% over the coming years. Increasing disposable income results in growth in demand for luxury living; therefore, it is impacting overall industry growth.

Adoption of online retailing methods and development of multi-functional furniture to decrease operating expenses engaged in sales and distribution are expected to expand the market. Furthermore, Real estate industry is expected to go through moderate advancement in future. Growth in real estate industry for commercial and residential places is expected to drive the luxury furniture industry market demand.

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Lifestyle of consumers in urban areas is undergoing a significant change owing to rising disposable income.  Consumers are ready to spend on luxurious products as these products are becoming key part of their life.   Moreover, increased investment on these products will assist in escalating the market demand .Although; investment associated with raw material procurement used for furniture designing will hamper the market growth further. Lack of skilled workforces for integration of visual designs in furniture is expected to restrain the sector development.

Existence of jackfruit, teak and mahogany trees as a resource for furniture designing due to maximum durability strength are attributing for high share of this material in revenue generation. Innovative and breakthrough developments in other materials used for designing luxury furniture like marble and stone are expected to boost the segment demand. In 2014, living & bedroom segment dominated the other segments with the highest revenue share .This was mainly due to existing consumers that are mostly in purchase of right kind of furniture to give aesthetic and rich look to their living room.

In 2014, Europe dominated the industry with total revenue share of over USD 7,329 million. Furthermore, changing lifestyle of consumers coupled with existence of large number of players in the region due to significant rise in disposable income are factors impacting for elevated share in Europe.

Rapid development in residential real-estate industry in Asian countries like China and India will increase the lucrative CAGR of 5.2% during 2014 to 2022. This is mainly owing to fast development in the region which is driving the luxury furniture market growth.

Luxury furniture Market

Information Source: Grand View Research

Advanced Interior Materials

Metal Matrix Composites (MMC) Market – Overview, Analytical Trends AndForecasts, 2015 To 2022

The worldwide metal matrix composites (MMC) market produced an income of around USD 228 million in 2012. It is predicted to generate revenue worth about USD 357 million by 2019. The market is projected to rise further at around 6.6 percent CAGR during 2013 to 2019. The worldwide demand for MMCs was estimated at about 5, 946 tons in 2012. Metal matrix composites are compound substances that consist at least two constituents; reinforcement and metal matrix. MMCs are utilized to generate hard-wearing and lightweight parts forground conveyance, thermal/electronics management, defense, aerospace, nuclear, marine, etc.

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Boosting demand for metal matrix composites across these sectors is anticipated to propel the metal matrix composites (MMC) marketahead during the forecast period. Expansion in the industries of passenger and commercial vehicles is also estimated to steer the sales of the market in the coming seven years. Flowing demand for light weight metal constituents with high performance, specifically in the industry of commercial vehicles to enhance fuel effectivity, is also projected to push the metal matrix composites (MMC) market forward in the future.

The in-built features of metal matrix composites (MMC), like improved stiffness, light weight and material strength, increase the utilization of MMCs in the industry of aerospace. This is also predicted to drive the metal matrix composites (MMC) marketahead in the near future. The high manufacturing costs and low yield of these compounds are likely to obstruct the smooth flow of the market. Proposals undertaken by the government and innovations in technologies to endorse material science are predicted to positively impact the metal matrix composites (MMC) market in the years ahead.

The market also faces huge demand from the applications of battery sleeves and radiator panels, power semiconductor packages, printed circuit board heat sinks and microwave modules. The rising use of MMCs across these sectors is also anticipated to propelfurther demand for the metal matrix composites (MMC) market. The worldwide market is sliced in view of three categories. These are consumers, products and geographies.

Consumers Insights

Ground transportation was the biggest consumer sector of the metal matrix composites (MMC) market in 2013. It is predicted to display similar trends in the yearsahead. The sector of automotives is estimated to experience a growth of ‘above average’ in the future.This is due to augmented demand for lightweight materials in the industry. Thermal/electronics management is likely to continue as the most rapidly expanding sector over the forecast period.

Products Overview

Aluminium was the biggest product sector of the metal matrix composites (MMC) marketin 2014. It captured more than 30 percent of the worldwide demand. This sector is estimated to gain shares through the forecast period. It is due to growing use of aluminium in the industries of aerospace and aircrafts. Refractory metal is predicted to face maximum demand in the seven years to come.


North America leaded the worldwide metal matrix composites (MMC) market in 2013. The region is expected to continuelikewise in the future. The huge size of this region is credited to increased demand for MMCs in the industries of automotives and aerospace in the United States of America. The Asian Pacificmetal matrix composites (MMC) market is likely to experience fast growth.

Metal Matrix Composites (MMC) Market

Information Source: Grand View Research

Advanced Interior Materials

Ammunition Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2015 To 2022

Global ammunition market is expected to grow on account of increasing military expenditure for the implementation of stockpiling and modernization programs by U.S., China, Israel and India. Increasing importance of up gradation of military weapons in numerous countries is likely to have a positive impact on the market. Technological advancements in developed economies for developing smart weapons for police force are expected to have favorable impact on market growth. Increasing R&D expenditure for the development of non lethal ammunition such as plastic bullets, wax bullets, rubber bullets and beanbag rounds is expected to fuel market demand in near future. Growing demand for non lethal ammunition in personal security and riot control units is likely to augment ammunition market demand over the forecast period.

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Increasing importance of shooting events in sports games such as Summer Olympics is expected to favorably impact the ammunition market growth. Growing popularity of hunting as a sport activity is expected to increase the demand for ammunition in the near future. Shifting of trend towards reduction of military expenditure coupled with over capacity of ammunition in Russia, Israel and U.S. is expected to have a negative impact on market. Increasing expenditure pertaining to the development of smart weapons such as direct energy weapons, electromagnetic pulse weapons, and smart bombs is expected to pose a credible threat for market in the near future. Stringent regulations of European Commission intended for controlling environmental pollution is expected to have a negative impact on market demand as a chemical over the forecast period. Growing concerns over animal protection rights has resulted in the implementation of norms against hunting of wild animals which is anticipated to hinder market growth.

Asia Pacific is likely to be major ammunition market in light of increasing military expenditures by India and China. In June 2012, the Government of India announced an investment of USD 1 million for acquiring artillery shells, anti-tank missiles and other weapons from Russia based Rosboronexport. Increment in military expenditure by countries in Middle East such as Iran, Iraq, Saudi Arabia and UAE is likely to be driving factor for the market. In Feb 2015, UAE Government announced a USD 420 million deal to acquire ultra precision ammunition from Tawazun Dynamics. Major market players include Barnaul Cartridge, BAE Systems, Nammo and Raytheon.

Ammunition Market

Information Source: Grand View Research