Samarium Prices

Samarium Prices December 2023

In the fourth quarter of 2023, the price of the samarium in China reached 12070 USD/MT by December.

Samarium Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Samarium Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of samarium 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 prices of samarium at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of samarium price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing samarium price fluctuations, such as 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.

Samarium Market Analysis

The global samarium market size reached 2,316 Tons in 2023. By 2032, IMARC Group expects the market to reach 3,048.36 Tons, at a projected CAGR of 3.10% during 2023-2032.

• The increasing demand for electric vehicles is driving the samarium market growth. Samarium is a vital component in the production of samarium-cobalt (SmCo) permanent magnets, which are used in electric vehicles (EV). As countries throughout the world ramp up their efforts to shift to renewable energy sources to tackle climate change, the demand for efficient and dependable magnets grows. Wind turbines, for example, use SmCo magnets because of their high magnetic strength and temperature stability, which are critical for efficient energy generation. Similarly, the increased adoption of electric vehicles (EVs), driven by government policies and consumer preferences for environmentally friendly transportation, increases demand for samarium-based magnets. As per U.S. Energy Information Administration 2023, electric vehicles make up 6.7% of light-duty vehicles sold in the US and EVs comprise 16% of light-duty vehicles sold. Besides, in California, zero-emission vehicles made up 25% of new vehicle sales in the second quarter of 2023.
• One of the key drivers of the samarium market is the growing need for renewable energy solutions. McKinsey estimates that by 2026, global renewable-electricity capacity will rise more than 80% from 2020 levels to more than 5,022 gigawatts. Of this growth, two-thirds will come from wind and solar, an increase of 150% (3,404 gigawatts). By 2035, renewables will generate 60% of the world’s electricity. Samarium is a vital component in the production of samarium-cobalt (SmCo) permanent magnets, which are used in a variety of clean energy applications such as wind turbines. As the demand for clean and sustainable energy sources increases, the need for high-performance materials like samarium in renewable energy technologies also rises. This trend underscores the importance of samarium in advancing green energy initiatives and reducing carbon emissions globally. Wind turbines, for example, use SmCo magnets due to their high magnetic strength and temperature stability, which are critical for efficient energy generation.

Samarium News

The report covers the latest developments, updates, and trends impacting the global samarium market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the samarium price trend.

Latest developments in the samarium industry:

• May 17, 2024: The Leningrad NPP (a branch of Rosenergoatom JSC, Rosatom Power Division) included samarium-153 in the range of isotopes produced for medical purposes. Today, radiopharmaceuticals with samarium-153 are widely used in palliative care to relieve pain that occurs with bone metastases, as well as in traumatology in the case of chronic musculoskeletal diseases. Samarium-153 isotope treatment can make it possible to avoid opioid analgesic use, while also inhibiting the progression of bone metastases and ensuring a lasting pain relief.
• June 9, 2024: Nissan Motor's goal to drive down the cost of electric vehicles is expected to hinge on a motor magnet it created using inexpensive material, samarium-iron, a rare-earth alloy. The Japanese automaker plans to bring the magnet to commercial feasibility by fiscal year 2030, which ends March 2031.

Product Description

Samarium is a chemical element with the symbol Sm and the atomic number 62. It is a member of the lanthanide series, which consists of 15 chemically related elements known as rare earth elements. Samarium has a bright silvery look and is reasonably stable in air, although it will tarnish over time if exposed to moisture. Besides, these are strong permanent magnets with a high resistance to demagnetization, exceptional thermal stability, and the ability to function at high temperatures. They find use in precise motors, electronic gadgets, and a variety of aeronautical applications. Samarium compounds, particularly samarium(III) oxide, are utilized as catalysts in several chemical processes, including the generation of ethanol and polymerizations.

Regional Coverage

The report provides a detailed analysis of the samarium 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 samarium price trend.

Global Samarium Price

The report offers a holistic view of the global samarium pricing trends in the form of samarium 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 samarium 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 samarium 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 Samarium Price

Europe's samarium pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence samarium production costs. Additionally, the region's dependency on samarium imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for samarium can also be provided for an extensive list of European countries.

North America Samarium Price

In North America, samarium prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence samarium supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific samarium historical data within the United States and Canada can also be provided.

Middle East and Africa Samarium Price

The samarium pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global samarium supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Samarium Price

In the Asia Pacific region, samarium pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of samarium, making the Asia Pacific market a complex environment for price trend analysis.

This samarium price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Samarium Price

Latin America's samarium market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in samarium prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing samarium pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of samarium 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 samarium price trend, including supply-demand shifts and geopolitical impacts, 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 samarium price charts ensure our clients remain at the forefront of the industry.