The key growth drivers of the gadolinium market globally include technical advancements leading to increasing demand, rising demand from the healthcare industry, and increased use of color televisions. Additionally, expanding uses for gadolinium and developing economies like China, India, and others would open up new opportunities for the gadolinium market.
The global gadolinium market demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2% to be valued at US$ 8.8 Billion from 2022 to 2032. The rising economies in the Asia Pacific are likely to offer lucrative opportunities for growth.
Superior metallurgic characteristics and high efficiency have been the major factors driving growth for the gadolinium market. A small amount of gadolinium improves the temperature resistance and efficiency of metals such as iron. Gadolinium has been gaining acceptance in medical equipment and nuclear applications. Therefore, the growing demand for nuclear energy and medical equipment has been a major driver for the industry. The price of gadolinium has been increasing over the years which have been a major factor restraining market growth. Research and development activities to increase the application scope of gadolinium are expected to offer huge growth opportunities in the market.
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Increasing demand for nuclear energy mainly in the Asian countries of China and Japan is expected to drive the demand for gadolinium in the region. With the increasing threat of the energy crisis several developing economies have increased their investments in the nuclear energy segment. Emerging geographical segments such as India, Pakistan and other developing economies in the Asia Pacific region is expected to offer greater growth opportunities in the region. The increasing shift of demand towards renewable sources of energy mainly in the developed economies of North America and Europe is anticipated to slow the market growth in the region.
Competitive Landscape
Major industry participants in the gadolinium market include
- Goodfellow Corpration
- GFS Chemicals, Inc.
- All-Chemie, Ltd
- Pascal Technologies, Inc.
- Fredericksburg
- VA Alfa Chemical Corpation
- Molycorp
- Super Conductor Materials, Inc.
- Inorganic Ventures
- Molycorp Corporation
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.
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Key Segments Profiled in the Gadolinium Industry Survey
Type:
- Gadolinium Acetate
- Gadolinium Acetylacetonate
- Gadolinium Oxide
- Gadolinium Nitrate
- Gadolinium Chloride
- Others
Application:
- Electronics
- Medical Equipment
- Imaging Agents
- Nuclear Reactors
- Others
Region:
- North America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Latin America
- Middle East & Africa
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