The global rare earth metals leaching chemicals market is projected to grow from USD 517 million in 2022 to USD 749 million by 2027, at a CAGR of 7.7% during the forecast period. The major driving factors for the growth of the rare earth metals leaching chemicals market are the rising demand for electric vehicles, discovery of new rare earth deposits, and increasing incentives by governments for renewable energy systems. Rare earth metals leaching chemicals techniques basically means the technologies and practices involved in mining which help in protecting the environment in any form. It involves working upon different verticals like Power reduction, fuel and maintenance reduction, emission reduction, water reduction etc. Power reduction is the fastest growing market segment in the rare earth metals leaching chemicals market. The increasing awareness of mining companies and new emerging technologies will drive the market growth.
The major key players in the rare earth metals leaching chemicals market BASF SE (Germany), OxyChem (US), Olin Corporation (US), Aurubis (Germany), Solvay S. A. (Belgium), UBE Corporation (Japan), LANXESS AG (Germany), Westlake Chemical Partners (US), Gujarat Alkalies and Chemical Limited (GACL) (India), Gujarat State Fertilizers & Chemicals Limited (GSFC) (India) and others. These players adopted acquisitions, new technologies, and agreements as key growth strategies between 2020 to 2022, which helped them to increase their sustainability and cater to the widening rare earth metals leaching chemicals market.
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BASF SE (Germany)
BASF is a global chemical company operating in more than 80 countries through six distinct divisions. The Chemicals division focuses on petrochemicals and intermediates, while the Materials division specializes in isocyanates, polyamides, and materials for the plastics industry. Industrial Solutions produces and supplies industrial components and additives, including polymer dispersions and pigments. The Surface Technologies division offers solutions for various surfaces, including catalysts and coatings. Nutrition & Care develops ingredients for consumer applications, covering nutrition, home, and personal care. Agricultural Solutions provides products like fungicides, herbicides, and seeds. The Other division encompasses commodity trading, engineering, and additional services.
Occidental Chemical Corporation (OxyChem), a subsidiary of Occidental Petroleum Corporation, manufactures PVC resins, caustic soda, chlorine, and a range of chemical products, including potassium hydroxide, vinyl chloride monomer, calcium chloride, sodium hydroxide, and more. These products find applications in polymer production, pharmaceuticals, and water treatment. OxyChem also supplies catalysts and offers value-added supply chain services. The company operates in the Americas, Europe, and Asia. Due to its affiliation with Occidental Petroleum Corporation, OxyChem is not required to disclose its financial performance.
Olin Corporation (US)
Olin Corporation operates in three divisions: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. They manufacture chemicals like hydrogen, potassium hydroxide, and various chlor-alkali products. Olin's hydrochloric acid is used in diverse applications. Their Electrochemical Unit generates chlorine, caustic soda, and hydrogen from salt electrolysis. Olin serves markets in North America, Europe, Asia Pacific, and South America. Winchester, a division, specializes in arms and ammunition. Olin acquired the Chlor-Alkali and Epoxy businesses from Dow Chemical in 2015.
Founded in 1866 as a stock business, Aurubis has evolved into an international group with roughly 6,900 employees situated at manufacturing facilities in Europe and the United States. Additionally, they maintain an extensive service and distribution network spanning Europe, Asia, and North America. Aurubis is a prominent global copper recycling company and supplier of non-ferrous metals. Their operations extend to more than 20 countries across three continents, where they produce a range of valuable metals, including gold, silver, and platinum group metals, as well as lead, nickel, tin, zinc, and selenium, in addition to their core metal, copper. Aurubis processes metal concentrates, scrap metal, and metal-containing recycling materials to create the purest metals and high-value products. Each year, their European smelter network generates over 1 million tons of 99.99% pure copper cathodes, which can be traded on metal exchanges. Moreover, the company transforms a portion of these cathodes into various intermediate copper and copper alloy products, including flat rolled items, shapes, and continuous cast wire rods. Their product range also encompasses supplementary byproducts like sulfuric acid, iron silicate, and synthetic minerals.
Solvay S. A. (Belgium)
Solvay S.A. is a company involved in the production and promotion of chemicals and plastic goods. Their product range includes sodium carbonate, sodium bicarbonate, sodium hydroxide, hydrogen peroxide, peracetic acid, cellulose acetate tow/flakes, silica, high-performance polyester, and aromatic polyamides, among others. Additionally, they provide products like phenol and its derivatives, natural vanillin, surfactants, textile yarns, and staple fibers, among various others. Solvay markets these products under well-known brands such as AMNI, EMANA, Bicarz, Bi-PROTEC, Cerox, Diofan, Govanil, Hyflon, and IXPER. Solvay caters to a diverse range of industries, including electrical and electronics, feed and food, resources and environment, aeronautics and automotive, industrial, building and construction, consumer goods, and healthcare. The company has a global presence, operating in multiple countries across Europe, the Americas, Asia, and other regions.
Rare Earth Metals Leaching Chemicals Market by Type (Hydrochloric Acid, Sulfuric Acid, Nitric Acid, Ammonium Sulfate, Citric Acid), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) - Global Forecast to 2027
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