The global europium market is
expected to reach USD 308.9 million by 2025, according to a new report by Grand
View Research, Inc. The rapid growth of the consumer electronics industry
across the globe can be regarded responsible for market growth in recent years.
In addition, the increasing application scope of the product in the automobile,
electrical, energy, and material sciences industries is expected to have a
positive impact on the overall market growth over the forecast period.
Increased demand for
europium oxide and nitrates for the manufacture of red and blue phosphors
largely used in electronics, including television, smart phones, and laptops,
is expected to propel the demand for europium during the forecast period.
Further, the increasing penetration in healthcare markets, largely for the
purpose of optical imaging and therapy, is expected to positively impact
product demand in the near future.
Europium oxides and its
derivatives are increasingly being used in nuclear reactor control rods owing
to their neutron absorbing property. The growing dependency on nuclear energy
for electricity generation is expected to benefit market growth over the next
few years.
The europium industry is
expected to witness the highest growth in phosphors application, slated to grow
at a CAGR of 5.0% during the forecast period, in terms of volume and revenue.
Industry players such as China MinMetals Corporation, Baotou Group, Avalon Advanced
Materials Inc. and Lynas Corporation engage in exploration, mining, development
and manufacture of europium along with other rare metals.
Access Research Report of Europium Market@:
Further key findings from the report suggest:
· The europium market was valued at USD 209.0
million in 2016 and is projected to grow at a CAGR of 4.6% over the forecast
period. The increasing application scope of the product in key end-use
industries, including consumer electronics, automotive, semiconductors, and
energy & mining, is expected to drive product demand during the forecast
period.
· Europium phosphors recorded a market
revenue of USD 60 million in 2016 and is likely to witness significant growth
during the next eight years, primarily on account of the rapidly growing
consumer electronics industry worldwide.
· Product demand in the lighting segment was
valued at just over USD 41 million in 2016 and is expected to grow at a CAGR of
4.5% over the forecast period owing to the use of europium in mercury lamps.
The rapidly-growing lighting market, especially in emerging economies across
key regions, is expected to benefit penetration of europium.
· The Asia Pacific europium segment dominated
the overall industry, with the regional segment being valued at USD 176.7
million in 2016. The segment is anticipated to grow significantly on account of
the rapid growth of the key end-use verticals. The increasing production in key
economies such as India, Vietnam, and Thailand is also expected to impact
product demand.
· The key strategies adopted by the industry
players include horizontal integration with refining and separation companies,
manufacturers, and distributors.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/semiconductors
Grand View Research has
segmented the europium market on the basis of application, end use, and region:
Application Outlook (Volume, Tons; Revenue, USD Million;
2014 - 2025)
·
Permanent Magnets
·
Catalysts
·
Glass Polishing
·
Phosphors
·
Ceramics
·
Metal Alloys
·
Glass Additives
·
Others
End Use Outlook (Volume, Tons; Revenue, USD Million; 2014
- 2025)
·
Consumer Electronics
·
Lighting
·
Semiconductors
·
Automotive
·
Healthcare
·
Nuclear Labs
·
Metallurgy
·
Anti-counterfeiting
·
Others
Regional Outlook (Volume, Tons; Revenue, USD Million;
2014 - 2025)
·
North America
o
U.S
o
Canada
·
Europe
o
Russia
·
Asia Pacific
o
China
o
India
o
Australia
·
Central & South America
o
Brazil
·
Middle East & Africa
o
South Africa
Access Press Release of
Europium Market@: www.grandviewresearch.com/press-release/global-europium-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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