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.
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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.
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 automotive and semiconductors. The powerful development in the previously mentioned end-use verticals is anticipated to boost development in the above application fragments.
Major Market Players:
The leading players in the market are Rare Earth Metals Inc, Lynas, Avalon Rare Metals, China Minmetals and Baogang Group.
The Europium Market is segmented as follows-
By Application: Catalysts, Phosphors, Metal Alloys, Permanent Magnets, Glass Polishing, Ceramics, Glass Additives, Others
By End user: Consumer Electronics, Semiconductors, Healthcare, Metallurgy, Lighting, Automotive, Nuclear Labs, Anti-counterfeiting, Others
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