Global Rare Earth Metals Market Analysis

According to projections, the market for rare earth metals will expand due to the growing demand for hybrid and electric vehicles. Another significant end-use sector for rare earth metals is the manufacture of electric vehicles. They are used in the production of the batteries that drive these electric vehicles. Magnets created from rare earth metals are essential parts of the electric motors used to move hybrid automobiles. As a result, the rare earth metals market is expanding rapidly due to the EV industry's strong expansion.

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