Europium Market Size, Share & Industry Analysis By Application (Permanent Magnets, Catalysts, Glass Polishing, Phosphors, Ceramics, Others), By End Use Industries (Consumer Electronics, Lighting, Semiconductors, Automotive, Healthcare, Others) and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Europium is a silvery-white, light, ductile metal that automatically oxidizes in oxygen. It is the most reactive of the rare earth metals which ignites at temperatures between 150 0C to 180 oC in soil. In water it behaves similarly to calcium, creating hydroxide and hydrogen gas from europium. Europium is one of the rarest elements on Earth, largely found in oxide form. It is extracted along with other rare earth elements from monazite and bastnasite ores. It is then separated and refined.
The alarmingly large demand for smartphones, wearables, gadgets, and smart televisions in developing markets around the globe is expected to boost the consumer electronics market, which, in effect, is expected to support the product's demand over the forecast year.
Key Market Driver -
The rapidly increasing demand for smart phones, wearable, gears, and smart televisions in emerging economies across the globe is expected to drive the market
Key Market Restraint -
Fluctuating pieces of the raw materials may restrain the market growth
However,due to various factors such as scarce demand, limited supply and ongoing recession in the rare earth industry, the stock price has been highly unpredictable. Europium production is largely dependent on the production of other rare earth elements, since they exist along with those metals. This trend has a direct influence on price of the product.
Market Segmentation:
Based on application, the market for Europium is further segmented into permanent magnets, catalysts, glass polishing, phosphors, ceramics and others. Based on end use industry, the market for Europium is further segmented into consumer electronics, lighting, semiconductors, automotive, healthcare and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global Europium Market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the Europium Market includes Avalon Rare Metals, Great Western Minerals, Canada Rare Earth, Rare Element Resources, Baotou Steel Rare-Earth, Lynas Corporation, Indian Rare Earth, Hastings Technology Metals Ltd, Arafura Resources, Neo Performance Materials and others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Europium Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
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In terms of Geography, the europium market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of both consumption and output the Asia-Pacific region dominates the Europium market. The Europium Market is expected to see a rising demand from India, China and other Asia Pacific countries. This can be attributed to the, growing product applications in major end-use industries. It is projected that the steadily increasing consumer electronics market in emerging economies such as China, India, Indonesia, Vietnam and Thailand will boost the region's product demand over the forecast period. Due to the ongoing recession in the rare earths industry, North America segment is expected to see sluggish growth. Additionally, the US is a net importer of the item and related goods due to the region's high market prices and lack of production.
Segmentation
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- Ongoing
- 2023
- 2019-2022
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