Europium is known as a rare earth metal that oxidizes readily in the presence of air and water. In addition to that, it is generally present in oxide form and comprises various applications in automobiles, catalysts, consumer electronics, flat panel displays, metallurgy, and fluorescent lamps and as a dopant of glass in lasers and optoelectronic devices.
The global europium market is poised for significant growth with a projected robust compound annual growth rate (CAGR) of 5.5% from 2022 to 2032, increasing its market value from US$ 225 million in 2022 to an estimated US$ 385 million by the end of the forecast period. This anticipated growth is attributed to advancements in earth metal nanocrystals technology, which are expected to drive increased global demand for europium.
The rising demand for flat panel displays and LEDs along with swelling civil infrastructure are some of the major growth drivers for the fueling up of the global europium market. In addition to that, the surge in the espousal of europium for newer end-use applications, and developing economies such as China, India, and others are anticipated to create a plethora of growth opportunities for the global europium market.
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Key Takeaways
- Europium nano-crystals are actively being used in LEDs as an effective phosphor that efficiently emits a massive range of the spectrum. Furthermore, the significant shift from traditional lighting to solid-state lighting systems in displays is expected to fuel the market for flat panel displays and LEDs. The surging demand for Europium is anticipated to propel simultaneously throughout the assessment period.
- Europium non-crystals are actively being utilized throughout the LEDs market as a phosphor that emits a wide range of the spectrum. The shift from traditional lighting to solid-state lighting systems in displays is expected to fuel the market for flat-panel displays and LEDs. Thereby, the demand for Europium is expected to grow simultaneously throughout the forecast period.
- The rapidly-growing consumer electronics industry across the globe, due to factors such as enhanced internet connectivity, technological advancements, and growing consumer expenditure on premium electronics, is likely to have significant impacts on the overall industry growth.
- Some of the factors expected to hamper the growth of the global europium market comprise supply issues and lack of refining. Furthermore, alloying and fabricating technologies are also some other restraining factors.
- Attributing to several factors such as limited supply, lack of refining, alloying, fabricating technologies, and ongoing recession in the rare earth industry, the stock price has been extremely unpredictable. Europium production is principally dependent on the production of other earth elements since they exist along with those metals. This trend has a direct trend on the price of the product.
- The rapidly growing demand for smartphones, wearables, gears, and smart televisions in developing economies worldwide is likely to propel the consumer electronics industry, which, in turn, is anticipated to benefit the demand for the product over the forecast years.
Competitive Landscape
Some of the key participants present in the global europium market are focusing on research and development to get an edge over the global market.
Key Companies Profiled
- Avalon Rare Metals Inc.
- Molycorp
- Lynas
- Minmetals Corporation
- Baotou Steel Rare-Earth
- Xiamen Tungsten
- Great Western Minerals Group Ltd.
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Key Segments Covered in the Europium Market Research Report
Application:
- Permanent Magnets
- Catalysts
- Glass Polishing
- Phosphors
- Ceramics
- Metal Alloys
- Glass Additives
- Others
End Use:
- Consumer Electronics
- Lighting
- Semiconductors
- Automotive
- Healthcare
- Nuclear Labs
- Metallurgy
- Anti-Counterfeiting
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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