Industry Outlook and Trend Analysis
The Europium Market was worth USD 0.19 billion in the year 2014 and is expected to reach approximately USD 0.28 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.330% during the forecast period. The developing usage of the europium metal, compounds, and oxides for the production of phosphors that is used in customer electronics is anticipated to go about as a key driver pushing the development over the conjecture time frame. The quickly developing customer electronics industry across the globe, due to variables like technological advancements, improved internet connectivity, and expanding expenditure of consumers on premium gadgets, is anticipated to boost the general business development. Moreover, the expanding infiltration in various applications, including glass additives, metal alloys, catalysts, permanent magnets, and ceramics, is foreseen to have positive effects on the demand of the product throughout the following years. Europium is one of the rarest components on Earth, to a great extent found in oxide form. It is derived alongside other uncommon earth components from bastnasite and monazite metals. It is then isolated and refined. Europium metal and oxides, alongside other uncommon earth components, are useful for the generation of various alloys, phosphors, compounds, and additives. The organizations in the business take part in manufacturing, exploration, mining, development, refining, and dispersion of the component and related products.
Application Outlook and Trend Analysis
In 2016, Phosphors represented the biggest share of the business incomes, accounting to almost 29 Percent among all applications, and is foreseen to witness noteworthy development over the figured time frame. The expanding usage of the product for the production of blue and red phosphors, broadly used as a part of all smart phones, televisions, and flat displays, is anticipated to boost the demand of the product over the conjecture time frame. Catalysts and permanent magnets applications sections are likewise anticipated that would witness quick development attributable to expanding applications in automotiveand semiconductors. The powerful development in the previously mentioned end-use verticals is anticipated to boost development in the above application fragments. The lasting magnet fragment is slated to develop at a significant pace on the basis of revenue, amid the forecast period. The business players consistently take part in research and development keeping in mind the end goal to recognize and grow the application extent of the product. The product is used alongside yttrium, terbium, and other uncommon metals, for far reaching applications in the automotive, life sciences, energy, and material science businesses. The continuous extensive research is foreseen to open new roads for the product in a few applications amid the gauge time frame.
End User Outlook and Trend Analysis
The consumer electronics section represented the biggest share in terms of revenue, esteemed at USD 62.4 million in 2016. The section is foreseen to develop at a considerable pace over the estimate years. The rapid development of the electronics business worldwide is slated to drive the product development over the conjecture time frame. The fast development of the consumer electronics industry can be essentially credited to the expanding volume offers of 4K televisions, wearables, and smart phones, particularly in rising economies in the Asia Pacific locale, including South Korea, India, China, and Thailand. Europium is broadly used for anti-counterfeiting measures in software, electronic devices, currency, and consumer goods attributable to the luminesce property it has. Governments over the globe are starting to contribute a lot of capital for the advancement of anti-counterfeit products & services, to shield the shoppers from false currency and goods locally and universally. This phenomenon is anticipated to profit the product request over the figure time frame.
Regional Outlook and Trend Analysis
Asia Pacific ruled the worldwide europium industry on the basis of income and volume, as China exclusively delivers more than 86 percent of the aggregate worldwide output. Also, expanding usage of the product in significant end-use enterprises is foreseen to boost the demand of the product over the coming years. The quickly developing consumer electronics area in rising economies, for example, Thailand, Vietnam, Indonesia, India, and China, is foreseen to boost the demand of the product in the district in the coming few years. In 2016, China ruled the worldwide business, esteemed at USD 148.4 million, and is foreseen to encounter huge development amid the following years. Starting at 2016, China works as a monopolist, with most significantly demonstrated stores and most astounding generation. The developing residential interest for the product in automotive, consumer electronics, energy and semiconductor markets is anticipated to drive market development. The North America portion is anticipated to encounter moderate development by virtue of the current back off in the rare earths industry. Furthermore, the United States is a net merchant of the component and related items inferable from the lack of creation and high market costs in the area. Over the estimate time frame, the locale is probably going to witness relentless development because of developing generation in Canada.
The leading players in the market are Rare Earth Metals Inc, Lynas, Avalon Rare Metals, China Minmetals and Baogang Group. The market members have high volume assets and resources, and work with high creation capacities. The mining organizations coordinate with organizations that offer distribution, distribution, and separation administrations. Besides, the key players consistently put resources into investigate and advancement to expand the application scope in significant end-use verticals.
The Europium Market is segmented as follows-
By End user
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?