The global rubidium market is valued at 2.57 kilotons in 2021 and is projected to grow with a CAGR of 4.01% during the forecast period (2022-2027).
COVID-19 has negatively affected the market for rubidium in 2020. The biomedical research sector has been adversely affected because of the pandemic, which slowed down new advancements in biopharmaceutical technology. The closure of many laboratories, restricted or loss of access to facilities and equipment, cancellation of scientific and technical conferences, supply chain disruptions, and problems acquiring new equipment and delayed or uncertain graduation schedules and career prospects for trainees and early career scientists resulted in high delay and loss, which, thus, negatively affected rubidium since it finds application in the biomedical sector.
- The major factor driving the growth of the market studied is its growth in the applications of biomedical research. On the flip-side, the COVID-19 outbreak is expected to have a huge impact on the market studied.
- Rubidium finds its major application in the specialty glasses. It is utilized in making rubidium carbonate which has several properties including electrical conductivity, etc.
- North America is expected to be the largest market of the rubidium market due to the large-scale production in the region.
Key Market Trends
Specialty Glass to be the Largest Application Sector for Rubidium Market
- Specialty glasses, which constitute the leading market for rubidium, are used in fiber optics telecommunications systems and in night-vision devices. The carbonate (Rb2CO3) is used as an additive to these types of glass, where it reduces electrical conductivity and improves stability and durability.
- Rubidium carbonate is used to reduce electrical conductivity, which improves stability and durability in fiber optic telecommunications networks.
- A rubidium-tellurium photoemissive surface is used in photoelectric cells, which are incorporated in a variety of electronic detection and activation devices. It is sensitive to a wide spectrum of radiation from the mid-ultraviolet through the visible into the near-infrared.
- Rubidium carbonate is also applied in glass lenses built in night vision devices.
- Rubidium is used as a getter in vacuum tubes and as a photocell component. It has been used in making special glasses.
- Hence, specialty glass is expected to be the largest segment in the market.
North America Accounted for the Largest Share
- Rubidium was mainly extracted from salt lake brine in the United States, with Cabot as the main company. Moreover, Canadian rubidium ore and rubidium salt production are in the world's top five.
- The Bernie Lake mining area in Lake Manitoba, Canada, supplies the raw materials to produce rubidium salt in the United States and other countries. The ore mined in this area is exported to several countries.
- The United States was one of the first countries to produce and use rubidium. In the United States, rubidium is mostly employed in the high-tech industry, with 80% used in the creation of high-tech and 20% used in traditional fields, such as electronic devices, special glass, and catalysts.
- However, data on consumption, export, and import are not available. According to industry data from the last decade, domestic consumption is around 2,000 kg per year. The United States was completely reliant on imports of rubidium materials used in different applications, such as electronics, healthcare, specialty glasses, etc.
- The US electronics market is the largest market in the world, in terms of size. Moreover, it acts as one of the leading potential zones for the market studied. Furthermore, it is expected to remain the leading market over the forecast period due to the usage of advanced technology, an increase in the number of R&D centers, and rising demand from consumers.
- There is a significant demand for newer and faster electronic products, due to the rapid pace of innovation, the advancement of technology, and R&D activities in the electronics industry.
- The medical device companies in the United States are highly regarded, globally, for their innovative and high technology products. The medical device industry relies on several industries where the United States holds a competitive advantage, including microelectronics, telecommunications, instrumentation, and biotechnology.
- Owing to all the aforementioned factors, the region is expected to dominate the global rubidium market.
The Global Rubidium (Rb) market is consolidated with top companies capturing major share in the market, globally. Some of the players in the market (in no particular order) include American Elements, Sinomine Resource Group Co. Ltd, Jiangxi Special Motor Co., Ltd, Lepidico Ltd, and Lithium Australia NL, among others.
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1.2 Scope of the Study
4.1.1 Growing Biomedical Applications
4.1.2 Applications in Specialty Glass
4.2.1 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1.3 Other Production Processes
5.2 Application Sector
5.2.1 Biomedical Research
5.2.3 Specialty Glass
5.2.5 Other Application Sectors
5.3.2 North America
5.3.4 Rest of the World
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 American Elements
6.4.2 Ganfeng Lithium
6.4.3 International Lithium Corp
6.4.5 Jiangxi Special Electric Motor
6.4.6 Lithium Australia
6.4.7 Merck Kgaa
6.4.8 Sinomine Resource Group
6.4.9 Thermo Fisher Scientific
A selection of companies mentioned in this report includes:
- American Elements
- Ganfeng Lithium
- International Lithium Corp
- Jiangxi Special Electric Motor
- Lithium Australia
- Merck Kgaa
- Sinomine Resource Group
- Thermo Fisher Scientific