The global rare earth elements market size was valued at USD 2.8 billion in 2018 and is estimated to witness a CAGR of 6% from 2019 to 2025. Cerium, neodymium, lanthanum, praseodymium, yttrium, and dysprosium are the most commonly used rare earth elements. The market is driven by the increasing demand for these products in the manufacturing of magnets & catalysts for the automotive industry.
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