Europium Market Size, Share, Growth, Price Trends and Industry Analysis Report, 2018 to 2025
The global europium market size was estimated at USD 209.0 million in 2016. The growing use of the europium metal, oxides, and compounds for the manufacture of phosphors used in consumer electronics is projected to act as a key driver for market growth over the forecast period.
(firmenpresse) - 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.
Further key findings from the report suggest:
& mining, is expected to drive product demand during the forecast period.
ected to benefit penetration of europium.
India, Vietnam, and Thailand is also expected to impact product demand.
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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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Sherry James
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Grand View Research, Inc
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Datum: 15.11.2019 - 09:12 Uhr
Sprache: Deutsch
News-ID 1553970
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Date of sending: 15.11.2019
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