Global Europium Market Size By Product (Eu (II), Eu (III)), By End-User (Consumer Electronics, Lighting, Semiconductors), By Application (Catalysts, Metal Alloys, Glass Polishing), By Geographic Scope And Forecast

Europium Market Size And Forecast

Europium Market size was valued at USD 4.69 Billion in 2020 and is projected to reachUSD 12.24 Billion by 2028, growing at aCAGR of 12.70% from 2021 to 2028.

Europium is the chemical element that is primarily used in the production of LEDs, smart screens, smartphones, flat panel displays, and wearables. With a rise in the sale of these products it directly affects the demand for europium. Europium metal, compounds, and oxides are used for manufacturing phosphors which are used in various consumer electronics. These are some factors that are expected to enhance the growth of the global Europium Market. The Global Europium Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Europium Market Definition

Europium is one of the rare elements found on Earth, it is mainly found in oxide form. It is the extraction of europium is done along with some other rare earth elements such as bastnasite and monazite ores. Later on, it is separated and refined. Europium is extracted along with some other rare earth and oxides are also used in the production of various alloys, additives, phosphors, and compounds. Numerous companies are involved in the mining, exploration, refining, development, and distribution of these elements. With the rarity of europium and its widespread use, the prices are extremely volatile owing to various factors such as limited production, High cost of extraction, and scarce availability. In addition, it mainly depends on the production of various other rare earth elements as they are found along with other metals, Hence this affects the price of the product.

The factor for the increase in demand for europium is owing to a rapid rise in demand for televisions, fluorescent lights, wearables, and smartphones. In addition, the rapid increase rise in demand for consumer electronics from developing countries like India and China is further fueling the global Europium Market, therefore a high growth is expected in the market. Further europium finds its application in nuclear energy. Europium oxides and their derivatives are used in nuclear reactor control rods for their absorbing property. With an increase in dependency on nuclear energy owing to electricity generation the market is forecasted to grow at a good pace in the coming future.

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Global Europium Market Overview

The global Europium Market is driven by factors like a constant increase in demand for electronics products worldwide. The main applications of Europium in electronics are owing to its special phosphorescent and photoluminescence properties. In addition, owing to the rise in the Europium Market the increase in demand for electroceramics is also witnessed. Electroceramics are ceramics materials used as applications that are used in the electronic function. Further, with an increase in digitalization and IoT, the demand for electroceramics drastically increased as it has applications in every part of automation. Electroceramics materials are also used to build a board on which PCB designing is done by the programmer in order to program on it owing to which the growth in market share is witnessed in the forecasted period.

Europium also finds its application in the healthcare industry owing to its use in therapy and optical imaging. Therefore with the increase in the use of europium in the healthcare industry is expected to increase the market in the forecasted period. In addition, europium which is used in phosphors is also used in euro banknotes for anti-forgery purposes. The identification on fake notes becomes easy owing to use of phosphors as it glows under certain light which helps in differentiation. Further, europium isotopes have their application in nuclear reactor rods owing its property of neutron absorption. Some of the restrain of the Europium Market is owing to its rarity, as growth is hampered by factors like scarce availability and limited production.

In addition to a lack of fabricating, alloying, and refining technologies the growth of the market gets further hampered. Although with its increase in use in numerous applications such as glass additives, catalysts, ceramics, permanent magnets, and metal alloys, and so on will increase the market share in the forecasted period. In 2020, with a spread of covid-19 across the globe the Europium Market has witnessed a downfall as owing to stringent lockdown and decrease in demand of goods and slowdown in export has also been witnessed. The drop in market share was witnessed owing to the larger use of europium in the Europium Market, the decrease in sales of consumer electronics has slowed down the growth of the Europium Market.

Global Europium Market Segmentation Analysis

The Global Europium Market is Segmented on the basis of Product, End-User, Application, And Geography.

Europium Market, By Product

• Eu (II)
• Eu (III)
• Others

Based on Product, The market is bifurcated into Eu (II), EU (III), and Others. Eu (III) can be reduced to Eu (II) for the production of new phosphors.

Europium Market, By End-User

• Consumer Electronics
• Lighting
• Semiconductors
• Automotive
• Healthcare
• Others

Based on End-User, The market is bifurcated into Consumer Electronics, Lighting, Semiconductors, Automotive, Healthcare, and Others. The consumer electronics sub-segment is expected to grow higher pace and is expected to have a larger market share owing to increase in manufacturing and use of consumer electronics such as smartphones, wearables, television, and panel display worldwide and specifically in the Asia Pacific region which includes countries like South Korea, India, and China.

Europium Market, By Application

• Catalysts
• Metal Alloys
• Glass Polishing
• Permanent Magnets
• Phosphors
• Others

Based on Application, The market is bifurcated into catalysts, metal alloys, glass polishing, permanent magnets, phosphors, and others. The Phosphors sub-segment dominates with a larger market share. The reason behind this is the high use of phosphors in the electronics industry. The high use of europium and its oxides are used in the manufacturing of red and blue phosphors that are widely used in smartphone and television sets. In addition, the growth of permanent magnets and catalysts is expected to increase the global Europium Market owing to its applications in the automotive industry, metallurgy, and semiconductors.

Europium Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of The World
• On the basis of Geography, The Global Europium Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest market share is of the Asia Pacific region owing to its increase in demand and manufacture of consumer electronics goods in countries such as South Korea, Vietnam, India, China, and Thailand. Further, the Asia Pacific region is expected to remain a larger Europium Market. After the Asia Pacific, North America region is expected to grow at a higher pace followed by the European region

Key Players

• The "Global Europium Market" study report will provide a valuable insight with an emphasis on the global market including some of the major players such as
• Avalon Advanced Materials, Rare Element Resources, Canada Rare Earth Corporation, Lynas Corporation, China Minmetals Corporation, Neo Performance Materials, Indian Rare Earth, Arafura Resources, ACI Alloys, and All-Chemie.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• Partnerships, Collaborations, and Agreements
• In May 2019, Lynas Corporation and Blue Line announced a joint venture to develop rare earth separation capacity in the US.
• In April 2019, Lynas Corporation invested USD 2.16 million in Calidus Resources Limited to bolster its market position.
• In March 2019, Lynas Corporation inked a memorandum of understanding with MARA to maximize its revenue generation.
• Mergers and Acquisitions
• In March 2019, it was rumored that Wesfarmers had made a $1.5Billion offer to take over Lynas Corporation.
• In February 2021, Avalon Advanced Materials Inc. took over the ownership of Ontario Inc. aiming to generate more revenue and move up in the global market list.
• Product Launches and Product Expansions
• In August 2020, Skuchain, Inc. announced the launch of the ECO system for precious metals trading, a joint venture with Mitsubishi Corporation RtM Japan Ltd.
• In the recent turn of events, many prominent players are looking to discover a new generation of europium and terbium-activated phosphors.