GlobalMonaziteMarketSize,Share,GrowthAnalysis,ByType(Acid CrackingandAlkalineCracking),ByApplication(ChemicalIndustry, Metallurgy)-IndustryForecast2023-2030
GlobalMonaziteMarketInsights
GlobalMonaziteMarketsizewasvaluedatUSD53.38millionin2021andis poised to grow from USD 54.61 millionin2022 to USD 65.5millionby 2030, growingataCAGRof2.3%intheforecastperiod(2023-2030).
Monazite is a rare-earth element-containing phosphate mineral that is primarily reddish-brown in colour. Due to variability in composition, monazite is considered a group of minerals. It is frequently found in placer deposits. Monazite sands are found in significant quantities in South Africa, Madagascar, and India. Monazite deposits are abundant in India. Monazite is radioactive due to the presence of thorium and uranium.
The increasing demand for rare earth elements, growth in nuclear power generation, and the availability of monazite in abundance are some of the key factors driving the growth of the global monazite market. Moreover, the rising demand for REEs in electronics and medical applications, as well as theincreasinguseofthoriuminnuclearfuel,arepropellingthegrowthofthe
monazite market. However, the high cost of monazite extraction and environmental concerns related to thorium mining are likely to restrain the growth of the global monazite market. Furthermore, the stringent government regulations regarding the mining and processing of monazite andthepresenceoflow-gradesourcesofmonazitearesomeofthefactors hampering the growth of the global monazite market.
GetaCompleteOverviewofGlobalMonaziteMarket:
https://www.skyquestt.com/report/monazite-market
MonaziteMarketTopPlayer'sCompanyProfiles:
• Lynas Corporation Ltd (Australia)
• Indian Rare Earths Limited (India)
• Guangdong Rare Earths Industry Group Co., Ltd. (China)
• Iluka Resources Limited (Australia)
• China Northern Rare Earth Group High-Tech Co., Ltd. (China)
• Chongqing Polycomp International Corp (China)
• Jiangxi Tungsten Industry Group Co., Ltd. (China)
• Arafura Resources Limited (Australia)
• Rainbow Rare Earths Ltd (United Kingdom)
• Alkane Resources Ltd (Australia)
• Hastings Technology Metals Ltd (Australia)
• Matamec Explorations Inc. (Canada)
• Medallion Resources Ltd (Canada)
• Greenland Minerals Ltd (Australia)
• Namibia Rare Earths Inc. (Canada)
• Peak Resources Ltd (Australia)
• Rare Earth Salts (USA)
• Search Minerals Inc. (Canada)
• Stans Energy Corp (Canada)
• Texas Mineral Resources Corp (USA)
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