1. Introduction of Light Rare Earth (LRE) Carbonates Market Types
Cerium: Cerium is a soft, ductile, and silvery-white metal that tarnishes when exposed to air. Cerium Carbonate is a water insoluble Cerium source that can easily be converted to other Cerium compounds, such as the oxide by heating (calcin0ation).
Lanthanum: Lanthanum is a ductile and malleable silvery white metal that is soft enough to be cut with a knife. Lanthanum Carbonate is a water insoluble Lanthanum source that can easily be converted to other Lanthanum compounds, such as the oxide by heating (calcination).
2. Light Rare Earth (LRE) Carbonate Market Production Analysis by Types
Table Global Light Rare Earth (LRE) Carbonate Production (Tons) by Types (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Cerium |
29944 |
37312 |
38180 |
42476 |
55689 |
65622 |
|
Lanthanum |
17703 |
21990 |
22484 |
24989 |
32757 |
38567 |
|
Others |
2891 |
3438 |
3375 |
3588 |
4508 |
5127 |
|
Total |
50538 |
62740 |
64039 |
71053 |
92955 |
109316 |
The production of cerium increased from 29944 tons in 2018 to 65622 tons in 2023, showing a strong growth trend.
The production of lanthanum also showed an upward trend, increasing from 17703 tons in 2018 to 38567 tons in 2023.
Table Global Light Rare Earth (LRE) Carbonate Production Market Share by Types (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Cerium |
59.25% |
59.47% |
59.62% |
59.78% |
59.91% |
60.03% |
|
Lanthanum |
35.03% |
35.05% |
35.11% |
35.17% |
35.24% |
35.28% |
|
Others |
5.72% |
5.48% |
5.27% |
5.05% |
4.85% |
4.69% |
|
Total |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
The market share of cerium shows an increasing trend year by year, from 59.25% in 2018 to 60.03% in 2023, indicating that its importance in the light rare earth carbonate market is gradually increasing.
The market share of lanthanum is relatively stable, from 35.03% in 2018 to 35.28% in 2023, with a slight increase, but still accounting for a certain proportion.
3. Light Rare Earth (LRE) Carbonate Market Revenue Analysis by Types
Table Global Light Rare Earth (LRE) Carbonate Revenue (M USD) by Types (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Cerium |
169.94 |
230.05 |
211.84 |
216.62 |
256.17 |
336.46 |
|
Lanthanum |
89.23 |
118.88 |
106.22 |
107.28 |
111.38 |
149.18 |
|
Others |
219.52 |
295.71 |
274.65 |
261.11 |
305.66 |
389.94 |
|
Total |
478.69 |
644.64 |
592.71 |
585.01 |
673.21 |
875.58 |
The global revenue of light rare earth carbonates is on the rise, increasing from US$478.69 million in 2018 to US$875.58 million in 2023. Among them, the global revenue share of cerium has gradually increased, from US$169.94 million in 2018 to US$336.46 million.
Table Global Light Rare Earth (LRE) Carbonate Revenue Market Share by Types (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Cerium |
35.50% |
35.69% |
35.74% |
37.03% |
38.05% |
38.43% |
|
Lanthanum |
18.64% |
18.44% |
17.92% |
18.34% |
16.54% |
17.04% |
|
Others |
45.86% |
45.87% |
46.34% |
44.63% |
45.40% |
44.53% |
|
Total |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Cerium’s revenue market share increased by 2.93 percentage points during the five-year period, indicating the increased economic importance of cerium in the light rare earth carbonate market. Lanthanum’s revenue market share decreased slightly, decreasing by 1.60 percentage points. Other types’ revenue market share decreased by 1.33 percentage points.
Cerium and lanthanum’s revenue market share combined account for approximately 55.47% of the global market in 2023. Showing the economic importance of both elements.
Other types’ revenue market share, although decreasing, still accounted for 44.53% of the global market, indicating that there are other important light rare earth carbonate types in the market.
4. Light Rare Earth (LRE) Carbonate Market Price Analysis by Types
Table Global Light Rare Earth (LRE) Carbonate Price (USD/Kg) by Types (2018-2023)
The price of cerium fluctuates from $5.7/kg in 2018 to $5.1/kg in 2023. The price of lanthanum fluctuates from $5.0/kg in 2018 to $3.9/kg in 2023.
