You already heard of the rare earths that could be found on this earth. They are not really rare but because of the lesser amount that could be found so they are labeled as rare. They should be separated from the others to be used as a single chemical. The rare earth is composed of 17 elements that were described as having names that are awkward and that they have uncommon properties. There are those who are scarce than the other and so they have a higher price.
The rare earth is scattered on the earth and not many are in a concentrated place so many firms could not get a return on the investment they had put for the mining of this chemical element. That is why the country of China is the one dominating the market.
The use of the rare earth is diverse and covers many manufacturing industries that is why they are in demand. The demand could be reduced when there are alternatives that are being found but still many uses and needs it.
Because of the many industries who need it, there has been an issue created that there would be a rise in the price of it and it could cause a crisis. It did not happen. That is why the market of the rare earth is said to be volatile and also complex and with diversity. That is why even if it could generate billions of sales but the costs of it are also high.