March 31, 2023

The global europium market will derive growth from the presence of several large scale companies across the world. The efforts taken to maximize the applications of the product will emerge in favor of market growth. According to a report by Fortune Business Insights, titled “Europium Market Size, Share & Industry Analysis By Application (Permanent Magnets, Catalysts, Glass Polishing, Phosphors, Ceramics, Others), By End Use Industries (Consumer Electronics, Lighting, Semiconductors, Automotive, Healthcare, Others) and Regional Forecast, 2022-2029,” the market will derive growth from the widespread applications of the product across diverse industry verticals.

The rapid spread of the coronavirus has created a sense of urgency across the world. With strict measures taken to curb the spread of the disease, several major businesses have come to a standstill. Ultimately, the rapid spread of the disease has urged governments to take strict measures. The report includes the impact on Covid-19 pandemic on the global market and discusses how major companies are coping with this. We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemic. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future. Due to travel bans, companies in europium sector are likely to take a huge hit in the coming years.

Europium is a substance that has the ability to oxidize automatically in oxygen. It is a naturally occurring material and has the property of ignition at temperatures between 150 degree Celsius and 180 degree Celsius. The material is extracted in a similar way to two other elements from monazite and bastnasite ores. The increasing applications of europium across diverse industry

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verticals have created a massive demand for a product across the world. The low cost of the material is a primary factor that has led to a wider adoption. The growing demand for smartphones, gadgets, and wearable devices will have a direct impact on the growth of the global europium market. Additionally the presence of several large scale companies will also emerge in favor of market growth.

Recent Scientific Discoveries Have Enabled a Wider Application Scope

The report summarizes several factors that have contributed to the growth of the overall market in recent years. It highlights the major strategies adopted by large scale companies in their bid to establishing a stronghold in the market. Accounting to the increasing applications and subsequently rising demand for the product across the world massive investments are being made in the research and development of the product. The fact that this product is used in lasers, televisions, and manufacturing of plastics shows that there is flexibility in its application scope. Another property of europium is its resistance to UV lights which makes it suitable for applications in currency notes. The ongoing research activities indicate the potential of the product and the presence of several large scale companies is consequential to the increasing applications.

Asia Pacific Dominates the Global Market; Massive Product Demand is Consequential to Rising Applications

The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, Asia Pacific is projected to emerge dominant in the coming years. The presence of several large scale companies, coupled with the increasing demand for the product, will have a positive impact on the growth of the market in the coming years. The massive demand for europium in this region can be attributable to the rising efforts put in to maximize the applications of the product across diverse industry verticals. The increasing R&D investments by large scale companies operating in this region will also emerge in favor of market growth.

List of companies profiled in the report:

  • Avalon Rare Metals
  • Great Western Minerals
  • Canada Rare Earth
  • Rare Element Resources
  • Baotou Steel Rare-Earth
  • Lynas Corporation
  • Indian Rare Earth
  • Hastings Technology Metals Ltd
  • Arafura Resources
  • Neo Performance Materials

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