Global Beryllium Market is anticipated to reach USD 80.7 million by 2025. Beryllium is a silver-gray, light, relatively soft metal that is strong but brittle. Beryllium has the highest melting point of the light metals. It shows excellent thermal as well as electrical conductivities and resists attack by concentrated nitric acid and is non-magnetic.
In the production of beryllium copper, beryllium is mainly used as an alloying agent with respect to spot-welding electrical contact, electrodes, and springs. It has a high permeability to X-Rays owing to low atomic number. Beryllium occurs in some minerals; the most important ones comprise bertrandite, chrysoberyl, beryl, and phenacite, etc.
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The factors that propel the growth of the Beryllium industry include high demand for beryllium due to its use in defence and aerospace sector, high thermal stability, high specific heat, and extensive use in alloys. On the other hand, there are factors that may hamper the growth of the market including rising concerns regarding environment, inhalation of beryllium particulates may cause a potential health risk for a lung disease and Chronic Beryllium Disease. Beryllium Market is estimated to grow at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe.
The market may be explored by product, application, end user, and geography. Beryllium industry may be explored by product as Military and Aerospace Grade, Optics Grade, Nuclear Grade. The “Military and Aerospace Grade” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 owing to increase in defense-related expenditure, particularly in countries such as the U.S., India, and China.
The market may be explored by application as Nuclear and Energy Research, Military and Aerospace, Imaging Technologies & X-rays Applications. The “Aerospace and Defense” segment led the Beryllium Market in 2016 and is anticipated to maintain its dominance by 2025 owing to high strength and lightweight property of beryllium.
The market may be explored by end user as Electric Equipment & Consumer Appliances, Automotive Electronics, Aerospace & Défense, Telecom Infrastructure/Computing, Industrial Components, and Others. The “Industrial Components” segment led the Beryllium industry in 2016 and is anticipated to maintain its dominance by 2025 owing torising use of alternatives in the manufacturing of industrial components.
North America accounted for the major share of the Beryllium Market in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include shigh demand from consumer electronics, defense, and industrial sectors. On the other hand, Asia Pacific and Europe are expected to grow at a significant growth rate and will contribute to the market.
Some of the key players that fuel the growth of the beryllium industry comprise American Beryllia Inc., Changhong Group, Advanced Industries International, Applied Materials, Belmont Metals, Esmeralda de Conquista Ltda, IBC Advanced Alloys Corp., Grizzly Mining Ltd., NGK Metals Corp., Ulba Metallurgical Plant Jsc, Materion Corp., Ningxia Orient Tantalum Industry Co. Ltd., TROPAG Oscar H. Ritter Nachf GmbH, and Zhuzhou Sinotech Industries. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Application Outlook (Volume, Kilograms; Revenue, USD Thousands; 2014 – 2025)
• Consumer Electronics
• Automotive Electronics
Regional Outlook (Volume, Kilograms; Revenue, USD Thousands; 2014 – 2025)
• North America
• Asia Pacific
• Rest of World
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/metals-and-mineral
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