Rare Earth Luminescent Materials Market size was valued at USD 3.5 Billion in 2024 and is forecasted to grow at a CAGR of 4.5% from 2026 to 2033, reaching USD 5.2 Billion by 2033.
South Korea's burgeoning industries, notably electronics and automotive manufacturing, have significantly escalated the demand for rare earth luminescent materials. These materials are pivotal in various applications, including advanced display technologies and energy-efficient lighting solutions.
In the electronics sector, rare earth luminescent materials are integral to the production of vibrant color displays found in televisions, computer monitors, and smartphones. Their exceptional optical properties ensure high-quality visual outputs, meeting the stringent standards of modern consumer electronics.
The lighting industry also heavily relies on these materials, particularly in the development of LEDs and OLEDs. Rare earth phosphors are utilized to convert blue LED light into white light, enhancing energy efficiency and longevity in lighting products.
Despite the critical need, South Korea faces challenges due to its limited domestic supply of rare earth elements. The country imported approximately 105,000 kilograms of rare earth metals in 2023, marking an increase from previous years. China remains the primary supplier, accounting for a significant portion of these imports.
To mitigate supply chain vulnerabilities, the South Korean government has initiated measures to bolster domestic capabilities. In 2022, plans were announced to double the national stockpiles of rare-earth minerals and reduce the release time of these materials from 60 to 30 days, aiming to enhance supply chain resilience.
Furthermore, South Korean companies are investing in local production facilities. Seonglim Advanced Industrial completed a neodymium-based rare earth permanent magnet plant with a capacity of 1,000 tons per year. This facility is projected to supply magnets for approximately 500,000 electric vehicles annually, reducing reliance on foreign sources.
Recycling initiatives are also gaining momentum. Research into rare earth magnet recycling and materialization processes is underway, aiming to establish a circular economy and lessen dependence on imported raw materials.
As South Korea continues to advance its technological industries, the strategic importance of the rare earth luminescent materials market becomes increasingly evident. Efforts to secure a stable supply chain through stockpiling, domestic production, and recycling are critical to sustaining growth and maintaining competitiveness in the global market.
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Leuchtstoffwerk Breitungen GmbH
Shanghai Keyan Phosphor Technology
Dongguan Anda Rare Earth Luminescent Material Co. Ltd.
Zhejiang Minghui Luminous Technology Co. Ltd.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Rare Earth Luminescent Materials Market
Phosphors
Fluorescent materials
Persistent luminescent materials
Europium-doped materials
Yttrium-based materials
Consumer electronics
Lighting (LEDs and OLEDs)
Displays
Medical imaging and diagnostics
Security inks and anti-counterfeiting technologies
Electronics
Healthcare
Aerospace and defense
Automotive
Construction and architecture
Fluorescence
Phosphorescence
Electroluminescence
Bioluminescence
Thermoluminescence
Synthetic sources
Natural ore sources
Recycled materials
Laboratory-synthesized compounds
product extraction from other processes
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Rare Earth Luminescent Materials Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Rare Earth Luminescent Materials Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Rare Earth Luminescent Materials Market, By Type
6. South Korea Rare Earth Luminescent Materials Market, By Application
7. South Korea Rare Earth Luminescent Materials Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Rare Earth Luminescent Materials Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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