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Praseodymium Oxide Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A24219
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Praseodymium Oxide Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| Praseodymium Oxide | Chemical | China | 67730 USD/MT |
In the fourth quarter of 2023, the price of praseodymium oxide in China reached 67730 USD/MT by December.
Praseodymium Oxide Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Praseodymium Oxide Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of praseodymium oxide pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot price of praseodymium oxide at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of praseodymium oxide price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing praseodymium oxide price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Praseodymium Oxide Market Analysis
The global praseodymium oxide market size reached 16175 Tons in 2023. By 2032, IMARC Group expects the market to reach 24665 Tons, at a projected CAGR of 4.80% during 2023-2032.
- The widespread adoption of electric vehicles (EVs) and renewable energy technologies is significantly driving the demand for high-strength magnets, which is boosting the market growth. Praseodymium oxide refers to a crucial component in the production of high-strength permanent magnets, which are essential in various applications such as electric vehicles (EVs), wind turbines, and consumer electronics. According to the data from the IEA (International Energy Agency), Electric car sales neared 14 million in 2023, 95% of which were in China, Europe, and the United States. Almost 14 million new electric cars were registered globally in 2023, bringing their total number on the roads to 40 million, closely tracking the sales forecast from the 2023 edition of the Global EV Outlook (GEVO-2023). Electric car sales in 2023 were 3.5 million higher than in 2022, a 35% year-on-year increase. Electric cars accounted for around 18% of all cars sold in 2023, up from 14% in 2022 and only 2% 5 years earlier, in 2018. These trends indicate that growth remains robust as electric car markets mature. Battery electric cars accounted for 70% of the electric car stock in 2023.
- The rapid advancement in electronics, including smartphones, computers, and other high-tech devices, fueling the demand for praseodymium oxide.
- The expansion of the renewable energy sector, especially wind energy is driving the need for praseodymium oxide. Praseodymium oxide is employed in the production of wind turbine generators, which require high-performance permanent magnets. The push for cleaner energy sources increases the demand for this material. According to the US Energy Information Administration, total annual U.S. electricity generation from wind energy increased from about 6 billion kilowatthours (kWh) in 2000 to about 434 billion kWh in 2022. In 2022, wind turbines were the source of about 10.3% of total U.S. utility-scale electricity generation. Utility-scale includes facilities with at least one megawatt (1,000 kilowatts) of electricity generation capacity.
- The market is also driven by the expanding ceramics and glass industries due to the rising construction and consumer goods market. For instance, in April 2024, SCHOTT launched pilot projects on glass ceramics and specialty glass for a more circular economy. Together with pilot customers and partners, SCHOTT is systematically exploring ways to return used glass-ceramic cooktop panels and pharmaceutical packaging to the production of new products.
Praseodymium Oxide News
The report covers the latest developments, updates, and trends impacting the global praseodymium oxide market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in praseodymium oxide production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the praseodymium oxide price trend.
Latest developments in the praseodymium oxide industry:
- In May 2024, Ganzhou Chenguang Rare Earths New Material Co., Ltd. signed a share purchase agreement to acquire Strandline Resources UK Limited from Strandline Resources Limited for AUD 43 million. The transaction also includes the acquisition of Tanzanian mineral sands projects. As part of consideration, Ganzhou Chenguang will pay AUD 27.2 million in cash and AUD 15.8 million for the assignment of the inter-company loans, Strandline has provided to fund its Tanzanian Projects.
- In March 2024, Rare Element Resources Ltd. announced that it has completed a new mineral resource estimate based on maximizing the recovery of the key magnet materials of neodymium (Nd), praseodymium (Pr), terbium (Tb) and dysprosium (Dy), as well as other critical rare earths such as lanthanum (La). The estimate is focused on the Bull Hill deposit at the Bear Lodge Project, located in northeastern Wyoming, with long-term upside existing in the Carbon, Whitetail, and Taylor deposits located within the Company’s mineral claims.
Product Description
Praseodymium oxide (Pr6011) refers to a chemical compound composed of praseodymium, a rare earth element, and oxygen. It appears as a dark brown or black powder and exhibits both metallic and non-metallic properties, making it useful in different industrial applications. One of the primary uses of praseodymium oxide is in the manufacturing of strong, permanent magnets, which are essential in various high-tech devices like wind turbines, hard disk drives, and electric motors. It is also used as a pigment in ceramics and glass, imparting a yellow color to the materials. It is employed as a catalyst in chemical reactions and the production of high-strength alloys and optical glasses. Its unique combination of properties, such as its magnetic and catalytic abilities, makes it a valuable material in advancing technology and industrial processes.
Regional Coverage
The report provides a detailed analysis of the praseodymium oxide market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the praseodymium oxide price trend.
Global Praseodymium Oxide Price
The report offers a holistic view of the global praseodymium oxide pricing trends in the form of praseodymium oxide price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of praseodymium oxide but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed praseodymium oxide demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe Praseodymium Oxide Price
European praseodymium oxide prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.
This analysis can be extended to include detailed praseodymium oxide price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Praseodymium Oxide Price
The analysis of praseodymium oxide prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.
Specific praseodymium oxide historical data within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Praseodymium Oxide Price
The report explores the praseodymium oxide pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on praseodymium oxide prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Praseodymium Oxide Price
The praseodymium oxide pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.
This praseodymium oxide price analysis can be expanded to include a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Praseodymium Oxide Price
The analysis of praseodymium oxide prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Praseodymium Oxide |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Praseodymium Oxide Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
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| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of praseodymium oxide pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting praseodymium oxide price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The praseodymium oxide price charts ensure our clients remain at the forefront of the industry.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
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