LONDON, Oct. 3, 2022 /PRNewswire/ -- Global Beryllium Market Size is valued at USD 112.83 Million in 2021 and Projected to Garner USD 163.05 Million by 2028 with the CAGR of 5.4% over the forecast period.
Growing use of beryllium in various industrial applications is one of the major factors driving the growth of Global Beryllium Market. "Beryllium Market Size, Share & Trends Analysis Report By Application (Industrial, Consumer Electronics, Automotive Electronics, Defense, Telecommunication, Energy, Medical, Others) Based On Region, And Segment Forecasts, 2022 – 2028.
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Beryllium Market Scope
Beryllium is used primarily using the beryl ores and bertrandite. Though most of the current production is done from the bertrandite ore. The rise in demand for the metal is going to compel the ore mining companies for investing in the new sites. However, the depletion in the raw material resources will be a major concern for this market. There is a rise in the demand for the third and fourth generation technologies which enhance the mobile communications bandwidth speed and power which is going to drive the demand for the product. There are major opportunities for the recycling of metal out of scrap which is going to be providing many opportunities for the players of the market.
Some major key players for global Beryllium market are,
Ulba Metallurgical Plant
NGK Metals Corporation
IBC Advanced Alloys
American Beryllia Inc
Xinjiang Xinxin Mining Industry
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Beryllium Market: Segmentation Analysis
Global beryllium market report is segmented on the basis of application and by regional & country level. Based on application, global beryllium market is classified as industrial, consumer electronics, automotive electronics, defense, telecommunication, energy, medical and others.
Beryllium Market: Regional Analysis
North American market is going to account for the highest portion of the global consumption due to the high demand from the industrial, defense and consumer electronics. The high defense spending in addition with the increase in demand for the beryllium from the aerospace and defense industry in United States is going to drive the market in the coming years.
There is a presence of limited applications in the Mexico and Canada leads to the consumption of the minimal volume of beryllium therefore there is a lower beryllium market value. Though, the use of the products in the solar energy-harnessing systems is going to register the gains on the account of the solar industry which is burgeoning in the US and Canada.
The Asia Pacific segment is going to see a growth due to the rise in the imports from Japan and China. There is a presence of beryllium reserves in China which is going to benefit the market in the region of Asia Pacific. The demand for the product is going to rise in the industry due to the presence of many manufacturing units and players. Foxconn is the biggest player in the market currently.
On Special Requirement Beryllium Market Report is also available for below region:
Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
Beryllium Market: Key Drivers
The global beryllium market is going to grow in the coming years on account of the increase in the use of this metal and the alloys in the key application industries including the defense and aerospace, consumer electronics and telecommunications and is going to drive the growth of the market in the coming years. There are factors like the superior properties including the stiffness, lightweight and heat dissipation, low density and melting point, heat-absorbing capacity and thermal conductivity and dimensional stability at the different temperatures are going to drive the demand for this product. Further, the properties which are offered by the alloys like the electrical conductivity, long-lasting spring and corrosion resistance is going to drive the demand for this product.
This is a product which can be alloyed with the various materials that include copper, magnesium, iron and aluminum therefore generating a higher demand in the medical, electronic and the industrial applications. Though, the prices of the alloys and in particular the beryllium market price are likely to emerge as among the biggest reasons for the substitution in the automotive applications which will result in the stunted levels of growth.
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