Global Europium Market is anticipated to reach USD 308.9 million by 2025. Europium is a rare earth metal that is ductile and soft, slivery-white in color, instantly oxidizes in water and air. Europium is said to be mildly toxic in nature. It usually ignites in air at the temperature level ranging from 150°C to 180°C. Europium is one of the least abundant elements in the world and mostly found in the minerals like monazite and bastnaesite. Globally, technical growth in the field of earth metal nano-crystals will drive the market growth.
The factors that propel the growth of the Europium industry include increasing application scope of the product in the electrical, automobile, material sciences energy, and industries, developing interest from LEDs, and flat panel displays. On the other hand, there are factors that may hamper the development of the market including strict government regulations, high cost involved in Research and development. Europium Market is anticipated to grow at a significant CAGR of 4.6% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
The market may be explored by application, end user, and geography. The key application that could be explored in the Europium industry include Catalysts, Permanent Magnets, Glass Polishing, Ceramics, Phosphors, Glass Additives, Metal Alloys, and Others. The “Phosphors” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 owing to the rising usage of the product for the manufacture of blue and red phosphors that is extensively used in smart phones, flat displays, and televisions.
The Europium Market could be explored based on end user as Lighting, Consumer Electronics, Semiconductors, Healthcare, Automotive, Nuclear Labs, Anti-counterfeiting, Metallurgy, and Others. The “Consumer Electronics” segment led the Europium industry in 2016 and is anticipated to maintain its dominance by 2025 owing to rising electronic industry globally, fast development of the consumer electronics industry (could be mainly ascribed to the increasing volume sales of wearables, 4K televisions, and smart phones, particularly in developing countries in the Asia Pacific region).
Asia-Pacific accounted for the major share of the Europium Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing consumer electronics segment in developing economies such as India, China, Thailand, Vietnam, and Indonesia, is anticipated to propel the demand in the region in the forecast period.
Some of the key players that fuel the growth of the Europium industry comprise Indian Rare Earth Ltd., China Minmetals Corporation, Arafura Resources Ltd., Great Western Minerals Group Ltd, Avalon Advanced Materials Inc., Baotou Steel Rare-Earth, Lynas Corporation Ltd., Hastings Technology Metals Ltd, All-Chemie Ltd., Canada Rare Earth Corporation, Neo Performance Materials, Rare Element Resources Ltd., American Elements, Minmetals Corporation, Xiamen Tungsten, and Lynas, ACI Alloys Inc, and Molycorp. The leading companies are taking up mergers and acquisitions, partnerships, and joint ventures in order to boost the inorganic growth of the industry.
Application Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2025)
• Permanent Magnets
• Glass Polishing
• Metal Alloys
• Glass Additives
End Use Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2025)
• Consumer Electronics
• Nuclear Labs
Regional Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
Research Support Specialist, USA