Europium Market size is forecast to reach $303 million by 2025, after growing at a CAGR of 4.8% during 2020-2025. With the growing use of the europium metal, oxides, and compounds for the manufacture of phosphors used in consumer electronics, the Europium market is witnessing an increase in demand. Growing public interest in electronics products will further enhance the overall market demand for Europium during the forecast period.
Europium Market Segment Analysis – By Application
Phosphorus segment holds the largest share in the Europium market. The increasing use of the product for the manufacture of red and blue phosphors, widely used in all smartphones, flat displays, and televisions, is expected to drive product demand over the forecast period. Europium oxide (Eu2O3), one of the components of europium, is commonly employed as red phosphorus in television sets and acts as an activator of yttrium-based phosphors. The luminescence of europium is extraordinary. The Eu3+ cation is one of those lanthanide cations that can emit light in the visible range in a suitable complex upon absorption of certain wavelengths. Trivalent europium cation is colourless in an aqueous solution, but when organic ligands are coordinated with an extended π-electron system, the antenna effect causes the luminescent properties of the central particle to increase sharply. The π electrons of the ligand guide the absorbed energy of the incident light (about 355 nm) to the 5d electrons of the Eu3+, causing them to enter the 4f orbital and emit light in the visible region (at about 610 nm) when they fall back, Europium oxide is whitish under normal light.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=15842
Report Price: $ 4500 (Single User License)
Europium Market Segment Analysis – Geography
APAC dominated the Europium market with a share of more than xx%, followed by North America and Europe. China & India are the major markets in this region. The long-term strategies of many of Asia’s newly industrialized countries include: (1) increasing their self-sufficiency, thereby reducing reliance on foreign, mostly Japanese, materials, components, and equipment imports and (2) rapidly transferring labour-intensive operations into neighbouring countries with lower labour costs, mostly to (but not limited to) China, which has over 1.2 billion people with average incomes under $400 per year. This movement has facilitated development of the regional economic trade and development zones known as economic polygons or triangles. At the same time, availability of advanced components and equipment on the open market allows China’s (or other countries’) firms to easily upgrade their production capabilities to sustain long-term competitiveness. The competitive pressures to upgrade technological capabilities directly challenge Japanese and U.S. high-technology leadership. Development of the Internet provides for even more rapid transfers of technology than in the past and will challenge even the best firms to keep pace.
Europium Market Drivers
Increase in demand of Electronics products
Continuous increasing demand of electronics products around the globe are the expanding the electronics market, due to the increasing demand of electronic products the demand for electroceramics are also increasing and the electroceramics markets are also expanding worldwide. The demand for electroceramics are highly influenced by the electronics and electrical sector as most of the Electroceramics are the ceramics materials which are able to perform an electronic function for a particular application.
Stringent Governments’ regulations
Stringent Governments’ regulations such as digitalization, IoT and others will further increase the market demand of Electroceramics, as these regulations will never be completed without using electroceramics, as it is used in every part of the automation. Electroceramics materials are used to build the board on which the PCB designing takes place so that the programmer can code their program on it. So, because of the governments’ regulations electroceramics market will always grow.
Download Sample Report @ https://www.industryarc.com/pdfdownload.php?id=15842
Europium Market Challenges
Impact of COVID 19
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any electronics product due to which the europium market is also lagging. One of the major difficulties, market is facing are the shutdown of all kinds of transportation. Global crisis for all sectors including manufacturing, which was hit by slowing demand in goods’ production and exports had slowdown the market for europium.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Europium market. In 2019, the market of Europium has been consolidated by the top five players accounting for xx% of the share. Major players in the Europium Market are Avalon Rare Metals Inc., Great Western Minerals Group Ltd, Canada Rare Earth Corporation, Rare Element Resources, Baotou Steel Rare-Earth among others.
In March 2017, Avalon Advanced Materials Inc. (“Avalon” or the “Company”) is pleased to announce it has closed a transaction with GoldON Resources Ltd. (“GoldON”) to acquire a 100% interest in the seven-claim, 1,008 hectares, Paterson Lake property (the “Property”) located adjacent to the north and west of Avalon’s Separation Rapids Lithium Project near Kenora, Ontario.
Asia-Pacific dominates the Europium market owing to increasing demand from applications such as glass polishing, ceramic among others.
With the growing use of the europium metal, oxides, and compounds for the manufacture of phosphors used in consumer electronics, is likely to aid in the market growth of Europium.
Whereas growing public demand for electronics products will increase the market demand for Europium in the near future.
COVID 19 pandemic will create hurdles for the Europium market.
Related Reports :
A. Aluminum Oxide Market
B. Rare Earth Metals Market
For more Chemicals and Materials related reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to firstname.lastname@example.org to discuss more about our consulting services.